According to Transparency Market Research’s latest report on the global oral contraceptive pills market for the historical period 2017–2018 and forecast period 2019–2027, high incidence of unintended pregnancies, awareness programs by governments and NGOs, increase in maternal age and late pregnancies are projected to drive the global oral contraceptive pills market during the forecast period. According to the report, the global oral contraceptive pills market was valued at US$ 1 Bn in 2018 and is anticipated to expand at a CAGR of 6% from 2019 to 2027.
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Unintended Pregnancies Still Leading Driving Factor for Market Growth
Contraceptive pill or birth control pill is a daily pill that contains hormones to change the way the body works and prevents pregnancy. Two main types of oral contraceptive pills are available in the market: combination pill containing two hormones (estrogen and progestin) and progestin-only pill. Contraceptive pill or birth control pill is a daily pill that contains hormones to change the way the body works and prevent pregnancy. Two main types of oral contraceptive pills are available in the market: combination pill containing two hormones (estrogen and progestin) and progestin-only pill. High incidence of unintended pregnancies among women aged between 15 and 44 drives the demand for contraceptives. Large percentage of these unintended pregnancies result in abortions, which entail preventable healthcare expenditure. In an attempt to curb this redundant healthcare expenditure, governments of various countries, including developed and developing nations such as the U.S., Sweden, Norway, and India, encourage women to opt for more effective modern contraceptive methods.
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Governments of various countries and NGOs such as Population Services International (PSI), Marie Stopes International, and Futures Group, along with prominent market players organize family planning programs and contraception awareness programs to expand the knowledge about contraceptives and their advantages in preventing pregnancy. For instance, Marie Stopes International entered into strategic agreements with contraceptive manufacturers, such as Bayer HealthCare, to cater to the unmet contraception (pill and implant) needs of women in the emerging and underdeveloped (Africa) economies by reducing prices.
Social Taboos to Hamper Market Growth
Contraceptive drugs involve several health risks and side effects, discouraging their use in women. Hence, women opt for natural contraceptive and permanent contraceptive methods such as sterilization, vasectomy, tubal ligation, and withdrawal. Contraceptive pills carry serious long-term and life-threatening side effects such as increased risk of breast cancer, blood clots, and stroke. This discourages the consumers from using them. Other side effects include high blood pressure, nausea, stroke, dizziness, and mood swings. Various ethical and social issues regarding certain contraceptive methods, especially contraceptive pills, lead to restriction on their usage in some countries. These factors can continue restricting the growth of oral contraceptive pills market by a certain degree in coming years. Players and manufacturers in oral contraceptive pills market are constantly engaged in clinical trials and studies to develop newer, more potent, and safe to use drugs and medications. Increased investments in research and development activities by various government and non-government organizations is also expected to positively affect global oral contraceptive pills market in coming years.
In terms of region, the global oral contraceptive pills market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global oral contraceptive pills market in 2018, followed by Europe. North America accounted for major share of the global oral contraceptive pills market in 2018, owing to increase in abortion rate and unintended pregnancies, new product launch, and presence of major players.
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The global oral contraceptive pills market is fragmented in terms of number of players. Key players in the global market include Allergan plc, Bayer AG, Johnson & Johnson Services, Inc., Mankind Pharma Ltd., Merck & Co., Inc., Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Piramal Enterprises, and Syzygy Healthcare LLC, among others.
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