Contraceptive Pills Market Therapeutics and Forecast to 2022
Market Overview:
The demand to control the ever-increasing population, worldwide alongside, the young demographics are changing the dynamics of the market. Teenagers are widely accepting contraceptives to enjoy the pleasure of intimate relationships. Additionally, government initiatives are supporting the market growth, promoting education, and the use of contraceptives for avoiding unwanted births.
According to Market Research Future (MRFR), the global Contraceptive Pills Market projected to grow steadily at around 2.2% CAGR throughout the forecast period (2016- 2022). The efficacy that contraceptive pills offer in birth controlling and family planning is a key driving force behind the growth of the market. Increasing government initiatives to control the birth rate is playing an important role in the growth of the contraceptives market.
The ongoing protest against abortion has escalated serious concerns regarding accidental pregnancies. This, in turn, is projected to shed light on the pills as a safer option, thus, supporting its increased sales. Also, the easier access to the product is likely to catapult the contraceptive pills market on upward trajectory. However, the availability of alternatives such as condom is expected to check the expansion of the contraceptive pills market over the next couple of years. Increasing awareness about the availability of alternatives is poised to restrict the market growth in the years to come.
Contraceptive pills cause several side effects such as a change in gynecological issues, hormonal imbalance, etc. Some of these pills, especially emergency contraceptive pills, can adversely affect the fecundity of women. This, in turn, is projected to check the expansion of the contraceptive pills market over the next few years. However, the research & development of male contraceptive pills is likely to have a positive impact on market growth in the forthcoming years.
Contraceptive Pills Market - Competitive Analysis:
Highly competitive, the global contraceptive pills market appears to be fragmented characterized by the presence of several well-established players. To gain a substantially large market share, these players incorporate strategic initiatives such as mergers & acquisitions, collaboration, expansion, and technology launch.
Pharma companies involved in the development of contraceptive pills adopt modern manufacturing processes to ensure safety and convenience. Patients safety is of the utmost priority to these contraceptive manufacturers. Hence, they continuously review the safety profile of their products and collaborate with health and regulatory authorities, sharing all relevant information.
Major Players:
· Lupin Pharmaceuticals
· Allergan
· Mankind Pharma
· Teva Pharmaceuticals
· Piramal Enterprises Ltd
· Syzygy Healthcare
· V Care Pharma
· HLL Life Care
· Sopharma AD
· Ferring B V
Contraceptive Pills Market - Segments:
· By Drug Class: Combination Pills (Monophasic, Multiphasic pills, and others) and Progestin Only Pills, among others.
· By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
Contraceptive Pills Market - Regional Analysis:
The report presents an exhaustive regional assessment of the global contraceptive pills market for offering an informative insight. These segments, on the basis of region, are Americas, the Middle East & Africa (MEA), Europe, and Asia Pacific. Americas is the leading the expansion of the global market and is anticipated to maintain its control over the maximum market share in the foreseeable future. The latest regulations in some of the states of the U.S. against abortion is anticipated to boost the sales of contraceptive in the years to come.
Europe contraceptive pills market is also projected to exhibit considerable growth at the second spot in the upcoming years. Increasing awareness about the product is the key factor responsible for catalyzing expansion of the contraceptive pills in the market over the assessment period. Meanwhile, Asia Pacific is likely to register the highest CAGR across the forecast period.
The market scenario represents healthy competition. Increasing investments in research & development by the key players are poised to boost revenue creation in the contraceptive pills market in the forthcoming years. The emphasis is on the minimization of adverse effects of the pills and ensuring cent percent results. Product development is likely to drive the growth of the contraceptive pills market over the next couple of years. In addition, other growth trajectories are also being trodden by the market participants for acceleration of revenue growth. Some of these growth strategies are mergers & acquisitions, partnerships, collaborations, etc
NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.