Oral Contraceptive Pills Market: Business Overview and Global Development Trends
Oral Contraceptive Pills Market: Overview
Transparency Market Research (TMR) has published a new report titled, ‘Oral Contraceptive Pills Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global oral contraceptive pills market was valued at US$ 16,065.2 Mn in 2018 and is projected to expand at a CAGR of ~6% from 2019 to 2027.
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.
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North America dominated the global oral contraceptive pills market in 2018 and the trend is anticipated to continue during the forecast period. Highly structured healthcare industry, increased usage of emergency contraceptive pills, and introduction of the Affordable Care Act in the U.S. are expected to drive the market in North America. Asia Pacific is likely to be a highly lucrative market and is expected to expand at a high CAGR during the forecast period
High Incidence of Unintended Pregnancies and Increase in Maternal Age and Late Pregnancies to Drive Market
High incidence of unintended pregnancies among women aged between 15 and 44 drives the demand for contraceptives. A study conducted by the Centers for Disease Control and Prevention indicated that around 45% of the total pregnancies in the U.S. in 2018 were unintended. Increase in maternal age and late pregnancies is also major factor for boosting the growth of the oral contraceptive pills market. 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.
Increase in Use of Combination Pills to Drive Market
Based on type, the global oral contraceptive pills market has been divided into combination pills, progestin-only pills, and others (ormeloxifene and mifepristone). The combination pills segment has been bifurcated into monophasic, triphasic and others (biphasic, quadriphasic). The combination pills segment dominated the global oral contraceptive pills market in 2018 and the trend is projected to continue during the forecast period. Increase in use of combination pills to accelerate the growth of the segment. Moreover, rise in the popularity of monophasic combination pills is also major factor for to boost the market growth. Low estrogen monophasic pills cause less bloating or breast tenderness. Hence, most women consider monophasic pill as a first line of choice for contraception. Moreover, fewer side effects, optimum price of the pills, and higher efficacy makes it preferable for use among women
Generic Oral Contraceptive Pills to be in High Demand
In terms of category, the global oral contraceptive pills market has been classified into branded oral contraceptive pills and generic oral contraceptive pills. The generic oral contraceptive pills segment dominated the oral contraceptive pills market due to availability of cost effective (low cost) drugs with similar bioavailability and bioequivalence as the branded drugs, rising preference for generic drugs among patients, and growing awareness about unintended pregnancies. The branded oral contraceptive pills segment includes Tri-Cyclen-Lo, Lo Loestrin, Loestrin 24, Beyaz, Generess, and Yaz.
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North America to Dominate Global Market
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. According to WHO, in the U.S., nearly half of pregnancies are unintended and four in 10 of these are terminated by abortion, there are over 3,000 abortions per day.
The oral contraceptive pills market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be attributed to rapid economic growth in developing economies such as India, China, Indonesia, Vietnam, South Korea, and the Philippines. Availability of generic contraceptive pills at lower prices such as i-pill, Unwanted, Preventol, and Truston is fueling market growth.
Competitive Landscape
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.