ALBANY, New York, Feb. 8, 2019 /PRNewswire/ -- As per a report, the revenue generated by the global hormonal contraceptive market is likely to stand at US$ 19,500 Mn in 2017 and the market is likely to touch worth of US$ 30,930.5 Mn by the end of 2026. The global hormonal contraceptive market is likely to expand at a steady 5% CAGR during the course of forecast period from 2018 till 2026.
Based on distribution channel, the drug store segment is expected to account for a huge share in the global hormonal contraceptive market owing to rise in demand for OTC sales is one of the key factor promoting the growth of the drug store segment. On the geographical point of view, North America is likely to lead in the global hormonal contraceptive market on account of revenue. Which is further trailed by Europe.
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Prevalence of obesity, POC to Boost Growth of Global Hormonal Contraceptive Market
The global hormonal contraceptive market is expected to expand at a steady CAGR during the forthcoming period. Rising infertility rate around the globe is one of the factor triggering the growth of the global hormonal contraceptives market. In addition, the rising prevalence of obesity, POCS, increase in lifestyle-related disease, delayed child bearing owing to financial instability are some of the factors supporting the growth of this market in the coming years. Additionally, increasing awareness among the population regarding controlling population in various developed and developing countries is driving the growth of this market. Furthermore, increasing various government initiative to population control is another factor driving the growth of the global hormonal contraceptive market in the year to come.
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Several developing countries such as Germany and the U.K. are taking various measures to educate the population regarding the applications of hormonal contraceptive market. This is likely to drive the growth of the global hormonal contraceptive market in the coming years.
Various Side Effects related to Hormonal Drugs Likely to Hamper Market Growth
On the other hand, several side effects associated with the hormonal drugs, alternative contraceptive method, and lack of acceptance among the population in the developing and developed countries are the key factors negatively impacting overall growth of the global hormonal contraceptive market. However, the rising case of infertility, obesity, and change in lifestyle are some of the factors responsible for the overall growth of the global hormonal contraceptive market in the foreseeable future.
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The global hormonal contraceptive market demonstrates healthy competition, observe Transparency Market Research (TMR). The presence of a large number of players exhibits fragmented structure, thanks to the presence of large and small players in the regional and international hormonal contraceptives market. The prominent players are adopting strategic mergers and acquisitions in order to develop new product portfolio and strengthen their presence across the globe.
The manufacturers are focusing on technological advancement in order to expand their geographical footprint. These are some of the factors stimulating the growth of the global hormonal contraceptive market in the near future. The prominent players functioning in the global hormonal contraceptive market are Pfizer Inc., ALLERGAN, Bayer AG, Inc. Merck & Co., Inc. and Afaxys, Inc.
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The study presented here is based on a report by Transparency Market Research (TMR) titled "Hormonal Contraceptive Market (Method - Oral Contraceptives, Transdermal Patches, Injectable Contraceptives, Intrauterine Contraceptives, Vaginal Rings; Hormones - Progestin Only, Combined Hormones; Distribution Channel - Drug Stores, Gynecology and Fertility Clinics, E-commerce) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026."
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