Market Overview:
According to Market Research Future (MRFR), the global Contraceptive Pills Market Share is 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 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.
On the flip side, the dangerous side effects of contraceptive pills are impeding the growth of the market, colossally. Also, cultural and religious dogmas hamper the growth of contraceptive pills market, especially in developing and under-developed countries. Nevertheless, government initiatives and family planning programs would support the growth of the market over the forecast period.
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.
They employ continuous improvement strategies to analyze and update products, implementing improvements. They strive to commercialize innovative, patented primary care and specialty pills for which they partner with global organizations with the leading capabilities in research, development, manufacturing, and business services.
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:
North America dominates the global contraceptive pills market. The largest share of the market attributes to the well-spread awareness among the people and high rates of abortions. Approximately 3 MN women in North America experience unplanned pregnancy, and almost 90 % of the women population uses at least one of the birth-controlling methods.
Therefore, increasing incidences of unplanned pregnancy and the high uptake rate of contraceptive pills. The US accounts for the largest market for contraceptive pills followed by Canada. The North American contraceptives drug market is expected to grow at a CAGR of 5.9 % during the forecasted period.
Europe commands the second-largest share of the global contraceptive pills market. Governmental initiatives to minimize the rate of unwanted pregnancy are driving the growth of the regional market, spreading awareness through appropriate initiatives and programs. Besides, the rising healthcare expenses and increasing use of contraceptives drugs have been fuelling the growth of the market in the region.