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The hormonal implants market is affected by the rising commonness of hormonal problems like hormonal imbalance nature, menopausal side effects, and hormonal contraceptives. As the occurrence of these conditions rises worldwide, there is an equal expansion in the demand for hormonal implants as compelling and long-enduring helpful options.
The market is driven by the expanding uses of hormonal implants in contraception. Long-acting reversible contraceptives (LARCs), including hormonal implants, offer a helpful and profoundly compelling conception prevention choice, impacting market elements and meeting the developing inclinations of women looking for dependable contraception.
The pattern towards long-acting treatments in healthcare impacts the hormonal implants market. Patients and healthcare suppliers progressively favor treatment options that proposition prolonged viability and diminish the requirement for incessant interventions, adding to the demand for hormonal implants.
The rising support of ladies in the labor force impacts the demand for advantageous and solid prophylactic options. Hormonal implants, offering long-enduring contraception without the requirement for daily consideration, line up with the necessities of working ladies, impacting market growth.
Changing segment patterns, including deferred family planning and a maturing populace, influence the hormonal implants market. More experienced people looking for hormonal treatments for menopausal side effects and deferred family planning add to the expanding segment reach of hormonal embed applications.
The globalization of healthcare and further developed admittance to healthcare administrations influence the hormonal implants market. Expanded availability of hormonal embed options in different districts tends to the healthcare needs of a more extensive population, adding to market development.
Hormonal Implants Market Highlights:
Global Hormonal Implants Market Overview
Hormonal Implants Market Size was valued at USD 0.45 Billion in 2023. The Global Hormonal Implants industry is projected to grow from USD 0.47 Billion in 2024 to USD 0.72 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.98% during the forecast period (2024 - 2032).
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.
Hormonal Implants Market 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.
Hormonal Implants Market Key Players
- Bayer HealthCare
- Shanghai Dahua Pharmaceuticals Co., Ltd
- Merck & Co., Inc.
- Allergan
- Others
Hormonal Implants Market Regional Analysis
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
- Levonorgestrel
- Etonogestrel
Global Hormonal Implants Market, by Type
- One Rod Device
- Two Rod Device
Global Hormonal Implants Market, by Distribution Sector
- Public Sector
- Private Sector
Global Hormonal Implants Market, By End User
- Hospitals & Clinics
- Academic & Research Institutes
Global Hormonal Implants Market, by Region
- Americas
- North America
- US
- Canada
- Latin America
- North America
- Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
- Western Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Middle East
- Africa
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