According to a new market report published by Transparency Market Research “Oral Contraceptive Pills Market (by Type – Combination Pill, Monophasic Pill, Triphasic Pill, Others; by Category – Generic and Branded) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015– 2023,” the global contraceptives market was valued at US$13.1 bn in 2014 and is expected to grow at a CAGR of 6.6% from 2015 to 2023, to reach an estimated value of US$22.9 bn in 2023.
Oral contraceptive pills are used to prevent pregnancy. Factors such as high incidence rate of unintended pregnancies, unmet contraceptive needs, rising awareness initiatives by governments and NGOs and implementation of the Affordable Care Act are driving the growth of the oral contraceptive pills market. Geographically, the market has been categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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North America accounted for the largest market share of the oral contraceptive pills market in 2014. High demand for the contraceptive pills due to adoption of family planning in the U.S. and Canada propelled the growth of oral contraceptive pills market. Favorable reimbursement policies for contraceptives by large insurance firms for all federal employees (U.S.) and their dependents have also contributed significantly to the escalation of the oral contraceptive pills market in North America.
However, with the highest CAGR, Asia Pacific is estimated as the most opportunity-rich regional market during the forecast period owing to the strong economic growth in India and China, rising disposable income, high population growth, increasing awareness about oral contraceptive pills and its advantages for preventing pregnancy. Presence of a large number of generic manufacturers are expected to cater to unmet contraceptive needs are few other major factors likely to boost the market growth. Growing awareness about novel contraceptives is likely to attract the major market players to venture in this market during the forecast period especially in growing economies of Asia Pacific and Latin America.
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Major players currently operating in the oral contraceptive pills market include Actavis, Inc., Bayer AG, Church & Dwight, Co., Inc., Merck & Co., Inc., Pfizer, Inc., and Teva Pharmaceutical Industries Ltd.
The global oral contraceptive pills market is segmented into the following categories:
Global Oral Contraceptive Pills Market, by Types
- Progestin Only
Global Oral Contraceptive Pills Market, by Category
Global Oral Contraceptive Pills Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest pf APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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