Oral Contraceptive pills are safe and reliable medication taken by women orally to prevent unwanted pregnancy. They are often called as birth control pill and has a combination of hormones especially estrogen and progestin or progestin alone which when taken stops the body from ovulating.
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The global oral contraceptive pills market was USD 14.96 billion in 2018 and is estimated to reach USD 21.73 billion by 2025 at a CAGR of 5.48% during the forecast period
Growth by Region
North America leads the market owing to the increasing number of unintended pregnancies coupled with rising awareness pertaining to contraceptives along with the advantages they offer in preventing unintended pregnancies and also implementation of favorable reimbursement regulations. However, Asia Pacific will witness an increase in demand and emerge as a popular market over the next few years due to factors such as rising population as well as increased awareness for birth control among people.
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Drivers vs Constraints
The global oral contraceptive pills market is mainly driven by a stark rise in the prevalence of unintended pregnancies among married as well as unmarried women, rising awareness regarding the need for contraceptives coupled with increasing efforts by the government to increase awareness regarding the use of contraceptives in female to prevent unwanted pregnancies. However, the growth of the global oral contraceptive pills market is hindered by social and religious barriers across a number of conservative developed and developing countries. Also, stringent regulations and policies related to reproductive rights also pose a threat to the growth of the oral contraceptive market globally.
Industry Trends and Updates
Teva Pharmaceutical, an Israeli multinational pharmaceutical company had sold Plan B One-Step as well as Teva’s value brands of emergency contraception to Foundation Consumer Healthcare in a USD 675 million cash transaction to further progress their ability to repay their term loan debt.
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Pfizer, Inc., an American pharmaceutical corporation is investing €500 million in order to build contraceptives factory in their production site located at Puurs, Flanders which will be twice the size of a soccer field. The purpose of the expansion is mainly to provide at least 40 developing countries with injectable contraceptive DMPA.