Hormonal Implants Market Research Report: Information by Hormone (Levonorgestrel and Etonogestrel), by Type (One Rod Device and Two Rod Device), by Distribution Sector (Public Sector and Private Sector), by End User (Hospitals & Clinics and Academic & Research Institutes) and by Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2030

ID: MRFR/HC/6770-HCR | 105 Pages | Published By Kinjoll Dey on March 2023

Hormonal Implants Market

The Hormonal Implants Market is expected to reach USD 567.25 Million by 2030 at 5.20% CAGR during the forecast period 2022-2030

$567.25 Million

Market Size

5.20%

CAGR

North America

Dominating Region

2022-2030

Forecast Period

Segmentation

Key Players

Drivers

Request a Free Sample

Hormonal Implants Market Scenario:

The Hormonal Implants Market is expected to reach USD 567.25 Million by 2030 at 5.20% CAGR during the forecast period 2022-2030

Hormonal implants are a highly effective and very safe form of birth control in the shape of a tiny tube that is placed under the skin of a woman’s upper arm. The size of the implant is as small as a toothpick and are made of flexible plastic, the implant contains a type of progestin hormone that stops the ovaries from releasing eggs. Additionally, higher safety from unwanted pregnancies, suitable government programs, raising awareness of contraceptives, and the growing research & development in the market is anticipated to fuel the market growth. For instance, a study stated that no pregnancy was observed in a control group of women, using the Etonogestrel-Releasing Contraceptive Implant, for a period of 5 years. On the other hand, related cases of side-effects, pricing variation, and limited availability of the product are hampering the growth of the market during the assessment period. Moreover, major companies in the market are involved in research & development, collaborations, and mergers to sustain their position in the market. For instance, in May 2016, ALLERGAN took an initiative to help the US military servicewomen access LILETTA at a Federal Supply Schedule (FSS) price of USD 55.83 to military treatment facilities nationwide. The initiative also includes an educational effort to raise contraception awareness among healthcare providers treating the US military servicewomen.

Segmentation

The global hormonal implants market has been segmented based on the hormone, type, distribution sector, end user, and region.

The market, based on the hormone, has been bifurcated into levonorgestrel and etonogestrel. The levonorgestrel segment is expected to hold a major share in the market due to the wider preferability and longer durability. The market, based on, distribution sector has been further sub-segmented into a public sector and private sector. The public sector is expected to hold a major share, due to increasing adoption rates of hormonal implants in public healthcare facilities under various government regulations. The market has been divided, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The hormonal implants market in the Americas has further been branched into North America and Latin America, with the North American market divided into the US and Canada. The European hormonal implants market has been sub-divided into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The hormonal implants market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The hormonal implants market in the Middle East & Africa has been divided into the Middle East and Africa.

Key Players

Bayer HealthCare

Shanghai Dahua Pharmaceuticals Co., Ltd

Merck & Co., Inc.

Allergan

Others

Regional Market Summary

Global Hormonal Implants Treatment Market Share by Region, 2018 (%)

Source: World Health Organization (WHO)

The market in the Americas is expected to dominate the global hormonal implants market due to the increasing per capita healthcare expenditure and the high adoption of new technology in the region.

According to government regulations, health insurance plans must cover all methods of birth control (including the implants), in the US, is expected to drive the market growth. Furthermore, increasing expenses in research by healthcare bodies is expected to fuel the growth of the market in this region. The market in Europe showed a considerable amount of growth. This can be attributed to the presence of a well-established healthcare system, an alternative for a surgical abortion, and the involvement of key companies. For instance, a study conducted by the European Journal of Contraception & Reproductive Health Care states that the most popular long-acting reversible contraception among European women were the levonorgestrel-releasing intrauterine system and copper intrauterine device. Therefore, the market is expected to grow during the forecast period. The market in Asia-Pacific is projected to have a steady growth rate during the forecast period owing to the increasing awareness for contraceptives and increasing government initiatives for healthcare reforms. The market in the Middle East & Africa is projected to account for the least share of the global market due to low per capita disposable incomes in the region.

Global Hormonal Implants Market, by Hormone