Hormonal Contraceptive Market Size, Share & Trends Analysis Report By Method (Pill, Intrauterine Device (IUD), Patch, Implant, Vaginal Ring, Injectable), By Region, And Segment Forecasts, 2019 - 2026

Industry Insights

The global hormonal contraceptive market size was valued at USD 19.9 billion in 2018 and is estimated to expand at a CAGR of around 4.1% over the forecast period. Rising awareness in emerging economies regarding contraception methods, investments by key players to develop innovative devices, and supportive government initiatives to improve access to products are the major trends accelerating the growth.

Partnerships and collaborations for R&D activities and commercialization of new products are some of the key strategies adopted by the key players to increase their market share. For instance, Medicines 360 and Allergan announced partnership with health centers to help address unintended pregnancies in areas impacted by Zika, such as Puerto Rico and Florida, in February 2017. The partnership helped increase access to a hormonal contraceptive-Levonorgestrel-releasing Intrauterine System (LILETTA)-of the company in the region, which is indicated to prevent pregnancy for up to three years.

Awareness programs by governments and market players help augment demand, and thereby, the market for contraceptives. For instance, in July 2015, Teva Pharmaceutical Industries Ltd launched an educational initiative, “Perfectly Imperfect” to create awareness about emergency contraception. In addition, in September 2015, Allergan announced a partnership with the U.S. Women's Health Alliance (USWHA), which is an organization that focuses on promoting affordable and high-quality healthcare services for women. This agreement will make LILETTA, an intrauterine device of Allergan, available to women across USWHA Health Care Groups in U.S.

Introduction of long-acting reversible devices is one of the major driving factors for the market growth. For instance, in September 2016, Bayer Inc. launched Kyleena, a new Intrauterine System (IUS), to prevent pregnancy. Launch of Kyleena is anticipated to help address the need for long-term contraception in women for up to 5 years.

Method Insights

On the basis of method, the hormonal contraceptive market has been segmented into pill, Intrauterine Device (IUD), injectable, vaginal ring, implant, and patch. In 2018, contraceptive pills accounted for the largest market share. It is estimated to maintain its dominance throughout the forecast period. The growth of the segment can be attributed to the easy and simple mode of administration, easy availability of a wide range of products, high awareness about pills due to early market entry compared to long-acting devices, and high efficiency of about 99% on timely consumption. Furthermore, the presence of various major market players in the field and growing penetration in emerging countries are poised to contribute to the segment growth.

IUDs are likely to observe the fastest growth during the forecast period due to increasing adoption of long-acting methods of contraception. More than 99.0% effectivity, longer action span, no effect of the device on breastfeeding, and normal fertility after removal of device are some of the factors attributable for the noteworthy growth of the segment.

Long-acting birth control methods such as IUD and vaginal rings have become more popular in U.S. Since the last decade, their adoption is on a rise. This can be due to steady increase in copay for oral contraceptive pills and subsequently, improving affordability. Major IUD’s currently available in the U.S. market are Kyleena, Mirena, Skyla, and Liletta.

Regional Insights

North America led the global market in 2018 and is expected to maintain its position throughout the forecast period. This can be attributed to high per capita income, strong presence of key market players, higher awareness about sexual health, and large number of unintended pregnancies.

Asia Pacific is projected to witness the fastest growth during the forecast period. Large fertile population, introduction of new female contraception devices, rise in investment by market players, and strong economic growth are the major factors supplementing the regional growth.

Rising number of product launches, favorable government initiatives, and awareness among population is anticipated to propel the Middle East and Africa market. For instance, in May 2013, Merck & Co. and its public sector partners extended the agreement to expand access to Implanon. As per this agreement, the company was to reduce the price of the implant and its next-generation drug Implanon NXT (etonogestrel) by approximately 50% for the next 6 years in 70 poor countries.

Hormonal Contraceptive Market Share Insights

The market is fragmented in nature due to the presence of several generic drugs. Major players are Allergan; Afaxys, Inc.; Teva Pharmaceuticals Industries Ltd.; Bayer AG; Merck & Co. Inc.; Pfizer; Agile Therapeutics; and Apothecus Pharmaceutical Corporation.

Approval and commercialization of various products, increasing geographical reach, and expanding application of already exist products are the major strategies being adopted by industry participants to enhance their market share. For instance, in March 2017, TEVA launched generics of Minastrin 24 Fe-ethinyl estradiol and norethindrone acetate tablets and ferrous fumarate tablets, used as an oral contraceptive in U.S.

In October 2018, the U.S. Food and Drug Administration FDA approved Allergan and Medicines360’s Liletta for the prevention of pregnancy for up to five years. Initially, it was approved for the pregnancy prevention for up to three years.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global hormonal contraceptive market report based on method and region:

• Method Outlook (Revenue, USD Million; 2015 - 2026)

  • Pill

  • Intrauterine Device (IUD)

  • Injectable

  • Vaginal Ring

  • Implant

  • Patch

• Regional Outlook (Revenue, USD Million; 2015 - 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • China

    • Japan

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa