Market Scope
Market Research Future (MRFR) asserts that the Contraceptive Pills Market Trends will grow relentlessly at a rate of 2.2% over the appraisal period (between 2020 and 2027).
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Top Boosters and Key Restraints
Mounting awareness among females about the latest contraceptive pills, rising knowledge about how to use them and their benefits, and easy access boost the market size across the globe. Also, the rising pregnancy rate among adolescents and the surge in promotional events and campaigns by leading firms that also form alliances with celebrities to grab the attention of more consumers benefit the global industry. Besides, frequent technical advancements combined with the mounting focus on boosting distribution networks by leading brands to raise the availability of their products can also warrant bright prospects for the global market.
Unwanted or unplanned pregnancies have become a major concern all over the world. Governments in various nations are taking up several steps, encouraging the use of contraceptive pills to cut down the rate of unwanted pregnancies. It is projected that out of the total pregnancies taking place in the United States, around 78% are unplanned and happen to women that are aged 30 or below. Governments worldwide are also working on family planning campaigns as well as awareness programs to boost people’s knowledge regarding contraceptives and their role in preventing unplanned pregnancy.
The alarming growth in the number of sexually transmitted diseases globally has raised the demand for the global market. Surge in sexual diseases leads to childbirth and many other infertility issues. In view of this, pregnant women suffering from these diseases have to eventually endure abortion. These factors are resulting in a rising demand for contraceptive pills and will translate into massive market expansion in the ensuing years.
Eminent Players
The top contributors in the worldwide market for contraceptive pills include Syzygy Healthcare, Mankind Pharma, Teva pharmaceuticals, Allergan, V Care Pharma, Lupin Pharmaceuticals, Inc, Sopharma AD, Piramal Enterprises Ltd, Ferring B.V, HLL Life Care, and many more.
Segmental Review
Generic and branded are the types of pills available in the worldwide market. The branded category forms the biggest share in the contraceptive pills industry and will continue to dominate all through the analysis timeline. The branded pill segment is growing on the back of their surging use as these are easily available and considered safer compared to generic drugs. Having said that, generic contraceptives will also note widespread consumption, thanks to their affordability and ease of use. Additionally, the escalating need to control the ever-growing population and the surging rate of abortion worldwide also foster the demand for generic contraceptive pills among consumers.
Hormone types considered in the research study are Combination pills, Progestin pills, Monophasic, Triphasic, and more.
Regional Insight
North America holds the biggest market size, with the huge demand for contraceptive pills owing to the high number of females that are aware of the latest products. In addition to this, easy access to a variety of contraceptive pills, whether at pharmacies or medical facilities along with technical advances also benefit the North American market.
Asia Pacific is touted to be one of the fastest growing markets, in view of rising advancements in the healthcare industry combined with the increasing financial conditions of people. The market share is also bolstered by the rising focus of players on strengthening their supply chains, improving distribution channels, and the increase in awareness among women about the latest contraceptive pills and the surge in family planning initiatives taken up by the government. Availability of contraceptive pills on e-commerce websites, and the soaring number of promotional advertising activities by established brands in the region will also ensure substantial business growth in the near future.
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