Globally the market for contraceptive pills is growing at a low rate but with increasing prevalence of sexually transmitted diseases will upsurge the growth of this market in coming future. According to a Recent study report published by the Market Research Future, the global contraceptive pills market is booming and expected to gain eminence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a prominent CAGR during the anticipated period (2017 – 2022).
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Increasing need of population control and increasing incident of abortion has driven the growth of the market. Governmental initiatives for minimizing unwanted pregnancy, increasing awareness and healthcare expenditure, and increasing in use of contraceptives drugs has provided fuel for the growth of the market. While the side effects of the treatment and strict governmental rules in many countries may hamper the growth of the market.
Geographically, North America commands the largest market for the contraceptive drug market. Approximately 3 million women in North America experiences unplanned pregnancy. Beside this 90 % of the women use some of the method of contraception. Thus increasing number of abortion and rate of unplanned pregnancy has driven this market in North America. Major market of North America is contributed by US which is followed by Canada. Increasing awareness and minimizing the healthcare expenses by curbing number of abortion in US encourage contraceptive use among women. North America contraceptives drug market is expected to grow at a CAGR of 5.9 % during forecasted period.
Segments of Contraceptive Pills Market:
Contraceptive Pills market has been segmented on the basis of drug class which comprises combination pills and Progestin only pills. Combination pills are further segmented into Monophasic and Multiphasic pills.
Regional Analysis of Contraceptive Pills Market:
Globally North America is the largest market for contraceptive Pills. Europe is expected to be the second-largest market. Furthermore Asia pacific market is expected to be the fastest growing market for contraceptive Pills.
Key Players for Global Contraceptive pills Market
Some of the key players in this Contraceptive pills Market are: Allergan, Lupin Pharmaceuticals, Inc, Mankind Pharma, Piramal Enterprises Ltd, Teva pharmaceuticals, Syzygy Healthcare, HLL Life Care, V Care Pharma, Sopharma AD, Ferring B.V and others.
Contraceptive pills Market Competitive Analysis
The market for contraceptive pills is characterised by the presence of several well-established and small players, the global market of contraceptive pills appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The contraceptive pills market appears to be highly competitive owing to the presence of several large and small key players accounting for a substantial market share. Well established players are getting into various product launches in order to gain competitive advantage in this market and to maintain their market position.
For instance, in 2015, Pfizer Inc. has introduced SAYANA, first injectable contraceptive in UK which can be self-administered.
While, in 2015, Teva Pharmaceutical Industries Ltd. has launched Beyaz which is a generic contraceptive drug. It is one of the most successful product of the company and in 2016 it has annual sales of approximately $133 million in the US. Recently, in March 2017, the company has launched a new product Minastrin in the market. Moreover, the company has launched the generic version of Janssen’s birth control pills Ortho Tri-Cyclen Lo. Into the brand name of Tri-Lo-Sprintec (norgetimate and ethinyl estradiol) tablets.
Therefore, the growing partnerships and product launches to expand their presence in various parts of the globe for their competitive products has spurred the growth of the market.
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