The global hormonal contraceptives market, achieving an impressive valuation surpassing US$15 billion in 2020, is poised to sustain its growth momentum in the years ahead. Notably, Asian markets are emerging as promising destinations for contraceptives manufacturing brands, hinting at a new phase of expansion. This growth is fueled by the mounting issue of unintended pregnancies worldwide, highlighting the urgent need for effective contraceptive solutions.
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Unintended pregnancies have far-reaching implications, disrupting womens education, career paths, and overall well-being. Statistics from the United Nations Population Fund (UNFPA) underscore the magnitude of the challenge, revealing an astounding 121 million pregnancies globally that are unintended each year. Shockingly, over 60% of women facing unintended pregnancies resort to unsafe abortions, contributing to nearly 13% of maternal deaths.
During periods of crisis, such as conflicts, the challenge intensifies as disruptions to healthcare systems lead to an increase in unintended pregnancies. In regions like Afghanistan, these disruptions are projected to lead to nearly 4.8 million unintended pregnancies by 2025. The added burden of sexual violence among refugee women compounds the crisis, emphasizing the need for effective preventive measures.
Manufacturers are stepping up to address this pressing need by developing user-friendly hormonal contraceptives. Regulatory approvals, including the FDAs authorization of Nextstellis and the European Commissions approval of Estelle, underscore the industrys dedication to addressing this global crisis. These innovative solutions empower women to make informed decisions about their reproductive health and contribute to a reduction in unintended pregnancies.
The gap in access to modern contraception presents a significant opportunity for the hormonal contraceptives market to flourish. Globally, millions of women lack access to safe and effective methods, creating a demand-supply gap for reliable contraceptive solutions. This gap is particularly pronounced in regions such as Africa, Latin America, and Asia, offering a fertile ground for manufacturers to make a lasting impact.
Contraceptive pills continue to gain traction due to their convenience, accessibility, and affordability. Data from the Centers for Disease Control and Prevention (CDC) indicates that approximately 12% of women aged 15-49 in the US rely on oral contraceptive pills. This trend is expected to elevate the prominence of pills within the hormonal contraceptives market.
The Asia Pacific region emerges as a key player in driving the markets growth, propelled by its flourishing economies, heightened awareness of sexual health, and the presence of major pharmaceutical companies. The regions commitment to planned parenthood and improved lifestyles further cements its role in shaping the trajectory of the hormonal contraceptives market.
A some of the major key players in hormonal contraceptives market include Teva Pharmaceuticals, Pfizer, Johnson & Johnson, Agile Therapeutics, Allergan, and Bayer AG.
Browse Global Hormonal Contraceptives Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 (By Product Type, By Textile Type, By End-use Industry, By Geographic Coverage and By Company: https://www.fairfieldmarketresearch.com/report/hormonal-contraceptives-market
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COMTEX_438402638/2840/2023-08-14T05:55:31