August 20, 2020
Oral Contraceptive Pills Market to Witness Comprehensive Growth by 2027
- 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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High Incidence Rate of Unintended Pregnancies and Surge in Programs by Governments and NGOs to Promote Usage of Contraceptive Pills: Key Drivers
- High incidence of unintended pregnancies among women aged between 15 and 44 drives 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.
- 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 by around 50%.
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Increase in Maternal Age and Late Pregnancies Boost Market Growth
- Globally, the average age of first time mothers is increasing, especially in developed countries such as the U.S., the U.K., France, Germany, Italy, and Japan. Financial stability, rise in literacy rates, and social factors are the major factors responsible for advancing maternal age.
- For instance, in the U.S., the average age of first time mothers was 26 years in 2013. It increased to 30 years in 2018. Oral contraceptive pills are largely used to manage late pregnancies among women. Japan, China, Turkey, and Iran are some of the countries in Asia experiencing rapid rise in the average age of first time mothers.
- Therefore, rise in average maternal age is likely to increase demand for oral contraceptive pills globally
Side Effects and Ethical & Social Issues to Hamper Market
- 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. For instance, sale of emergency contraceptive pills is restricted in the Middle East, as these are considered a means of abortion.
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Oral Contraceptive Pills Market: Competitive Landscape
- This report profiles major players in the global oral contraceptive pills market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
- The global oral contraceptive pills market is highly fragmented, with the presence of a number of international as well as regional players
- Leading players operating in the global oral contraceptive pills market are
- Allergan plc
- Bayer AG
- Johnson & Johnson Services, Inc.
- Mankind Pharma Ltd.
- Merck & Co., Inc.
- Pfizer, Inc.
- Teva Pharmaceutical Industries Ltd.
- Piramal Enterprises
- Syzygy Healthcare LLC
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Oral Contraceptive Pills Market: Key Developments
Key players in the global oral contraceptive pills market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global oral contraceptive pills market. A few expansion strategies adopted by players operating in the global oral contraceptive pills market are:
- In January 2020, Merck expanded licensing agreement with Theramex for oral contraceptive Zoely, increasing marketing rights from 11 countries in Europe to over 50 across the world
- In August 2018, Lupin Limited received the U.S. FDA approval for Nudovra tablets, an oral contraceptive indicated for use by women to prevent pregnancy
- In March 2017, Teva Pharmaceutical Industries Ltd. launched generic of Minastrin 24 Fe in the U.S. Generic of Minastrin 24 Fe is an estrogen/progestin combined oral contraceptive indicated for use by women to prevent pregnancy
- The report on the global oral contraceptive pills market discussed individual strategies, followed by company profiles of manufacturers of oral contraceptive pills. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global oral contraceptive pills market.
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