Oral Contraceptive Pills Market
Market Overview
The Global "Oral Contraceptive Pills Market" is expected to grow at a CAGR of 6% during the forecasting period (2022-2029).
Oral contraceptive pills, commonly referred to as birth control pills are medications that prevent pregnancy. They are hormonal preparations that may contain combinations of estrogen and progestin or progestin alone.
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Market Dynamics
The major factors driving the growth of this market are the growing prevalence of unintended pregnancies, increase in favorable government policies and rise in awareness among consumers regarding unintended pregnancies are expected to drive the growth of the oral contraceptive pills market.
Women are frequently using oral contraceptive pills to prevent unintended pregnancies
Women are delaying motherhood to prioritize their careers and manage their job safety. Raising the number of unstable relationships and high costs involved in growing a child is certain factors that are increasingly prompting women to postpone pregnancy, thereby fueling this market. However, in emerging countries, the supply of contraceptives is minor then the increasing demand for these drugs. Moreover, particularly in Africa, diseases like HIV have used drugs that inhibit pregnancy essential for women. Thus, net sales of contraceptive pills in emerging countries are expected to increase the market growth over the forecast period.
The University of California, San Francisco (UCSF) research shows that undesired pregnancy and abortion rates decreased substantially while women received a one-year prescription of oral contraceptives. As per the World Health Organization, 74 million women residing in low-middle-income nations register unplanned pregnancies every year. The World Health Organization research noticed 4,794 women had undesired pregnancies after they had discontinued using contraceptives. Hence, the need to avoid undesired pregnancies stimulates the growth of the oral contraceptive pills market.
Expeditious need to curb population growth to drive the market growth
According to the United Nations Department of Economic and Social Affairs, by 2030, the world population will reach 8.6 billion, and by 2050, it will be 9.8 billion. The prevalent anxiety is that such an explosion of numbers will create vast socio-economic imbalances, especially in developing countries.
Governments are taking proactive measures around the globe about family planning and contraceptives to avoid accidental pregnancies. This urgent need to control population growth is supposed to be one of the best contraceptive pills market trends in the immediate future. Moreover, the increasing prevalence of teenage pregnancies, particularly in the U.S., has also emerged as a
The side effects associated with the use of contraceptive drugs are expected to hinder the growth
However, the side effects associated with contraceptive drugs are expected to hinder the growth of the oral contraceptive pills market. The side effects vary between people and the type of pill consumed breast tenderness, headaches, spotting, and nausea are some prominent side effects of oral contraceptive pills. Depo-Provera, an implantable contraceptive, is known to provide the most severe side effects. In addition, research has indicated that Depo-Provera and Depo-SubQ Provera 104 can trigger bone mineral density loss. Hence, the side effects associated with the use of contraceptive drugs hamper the growth of the oral contraceptive pill market.
Market Industry Analysis
PEST Analysis:
Supply Chain Analysis
COVID-19 Impact Analysis
In 2020, the COVID-19 pandemic started to spread worldwide, millions of people globally were affected with COVID-19 disease, and significant countries worldwide have implemented foot prohibitions and work stoppage orders. Except for the medical supplies and life support products industries, most businesses have been significantly impacted, and Oral Contraceptive Pills industries have also been hugely affected. With the slowdown in world financial growth, the oral contraceptive pills manufacturing has also suffered a particular impression but still maintained a moderately optimistic growth, the past four years, the oral contraceptive pills market.
Segment Analysis
The combination pills segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)
Combination pills are also known as oral contraceptives that contain estrogen and progestin. Combination birth control pills keep ovaries from discharging an egg. They also cause differences in the cervical mucus and the uterus lining (endometrium) to prevent sperm from joining the egg. Various types of combination birth control pills include different doses of estrogen and progestin. Continuous-dosing or extended-cycle pills allow decreasing the number of periods in women each year. Combination pills are a safe form of contraception that's easily changed. Fertility can return to normal almost instantaneously after stopping the pills.
However, as per mayo clinic, 9 out of 100 women using combination birth control pills will get pregnant in the first year of use. With specific use as directed, the pregnancy rate is less than 1 in 100 women each year. Although using combination birth control pills during early pregnancy doesn't raise the risk of congenital disabilities, it's best to stop them as quickly as women suspect their pregnancy. In addition, combination control pills won't protect women from sexually transmitted diseases. These factors are driving the segment growth in the forecast period.
Generics segment is expected to dominate the oral contraceptive pills market, by category, during the forecast period
The generic pills segment has the highest share in the oral contraceptive pills market due to the availability of cost-effective drugs with similar bioavailability and bioequivalence as the branded drugs, rising preference for generic drugs among patients, and growing awareness about unintended pregnancies.
Furthermore, the increasing need for population control and the increasing incidence of abortion has driven generic contraceptive pills in the market. Furthermore, the increase in the number of different birth control pills available in the United States resulted from the Drug Price Competition and Patent Term Restoration Act of 1984, also known as the “Hatch-Waxman Act,” which set up the modern system of generic drug approval and regulation. As a result, physicians, pharmacists, and women could choose pills based on price because the action of these contraceptives, or their therapeutic equivalence, was essentially the same. In addition, brand-name manufacturers find a way to make their products stand out from the generic crowd. Thus all these initiatives will propel the growth of the market in the forecast period.
Geographical Analysis
North America region holds the largest market share in the global oral contraceptive pills market
North America region dominates the global oral contraceptive pills market accounted for the largest market share in 2020, owing to rapid developments in healthcare infrastructure and high awareness. There were approximately 60 million women in the United States in their child-bearing years (age 15 - 44) as of 2017. Around 70% of these women were at risk of unintended pregnancy. Furthermore, more than 99% of women aged between 15 - 44 years have used at least one contraceptive method. This will indicate high awareness and demand for avoiding unintended pregnancies in the United States. Thus, contraceptive pills account for the most significant expenditure on contraceptive methods in the United States.
Significant institutes and companies operating in the oral contraceptive pills sector are focusing on developing innovative solutions for oral contraceptive pills in the region. For instance, in December 2019, a group of scientists from the Massachusetts Institute of Technology (MIT) has created a birth control pill that only is consumed once a month. The star-shaped capsule may significantly minimize accidental pregnancies caused by users who fail to take their regular pill dose. In addition, the capsule is filled with gelatin which may stay in the abdomen for weeks after swallowing, from where hormones are slowly released to stop childbirth.
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Competitive Landscape
The oral contraceptive pills market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Teva Pharmaceutical Industries Ltd, Bayer AG, Syzygy Healthcare, Mankind Pharma Ltd., Pfizer Inc., Primal Enterprises Ltd., Ferring B.V, Zizhu Pharmaceutical Co. Ltd, Xi'an Julong Bio-Tech Co., Ltd., Beijing Union Pharmaceutical Factory, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the oral contraceptive pills market globally.
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