PUBLISHER: The Business Research Company | PRODUCT CODE: 1435477
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435477
Oral contraceptive pills are tablets designed for contraception, containing hormones that inhibit the release of eggs from the ovaries. Typically, these pills contain both progestin and estrogen. Commonly known as birth control pills, they consist of hormones that prevent the ovaries from releasing eggs. The majority of oral contraceptives incorporate both estrogen and progestin.
The market for oral contraceptive pills is categorized by type into combination, progestin-only, and others; by category into generic and branded; and by distribution channel into hospital pharmacy, retail pharmacy, clinics, online channels, public channels and NGOs, among others.
The oral contraceptive pills market research report is one of a series of new reports from The Business Research Company that provides oral contraceptive pills market statistics, including oral contraceptive pills industry global market size, regional shares, competitors with an oral contraceptive pills market share, detailed oral contraceptive pills market segments, market trends and opportunities, and any further data you may need to thrive in the oral contraceptive pills industry. This oral contraceptive pills market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The oral contraceptive pills market size has grown rapidly in recent years. It will grow from $23.66 billion in 2023 to $27.12 billion in 2024 at a compound annual growth rate (CAGR) of 14.6%. The growth observed in the historical period can be attributed to heightened awareness, escalating concerns about women's health, government initiatives, shifting lifestyles, and the expansion of the market.
The oral contraceptive pills market size is expected to see rapid growth in the next few years. It will grow to $47.15 billion in 2028 at a compound annual growth rate (CAGR) of 14.8%. The anticipated growth in the forecast period is linked to a growing population, women's empowerment, increased healthcare expenditure, advancements in healthcare infrastructure, and the expansion of product portfolios. Key trends expected during this period involve a focus on minimizing side effects and hormonal disruption, the emergence of non-hormonal and natural contraceptive alternatives, a shift towards continuous and tailored contraceptive regimens, heightened awareness, and education initiatives, as well as an increase in female empowerment and involvement in contraceptive choices.
The anticipated rise in unintended pregnancies is expected to be a driving force behind the growth of the oral contraceptive pills market in the upcoming years. Unintended pregnancies, characterized by pregnancies that are not planned or desired, have shown a substantial decrease in rates of unwanted pregnancy and abortion when women are provided with a one-year prescription of oral contraceptives, as indicated by a study conducted by the University of California, San Francisco (UCSF). According to the World Health Organization (WHO), approximately 74 million women in low-middle-income economies globally experience unplanned pregnancies each year. The WHO's research highlights that 4,794 women had unintended pregnancies after discontinuing the use of contraceptives. Thus, the imperative to prevent unintended pregnancies is a key factor driving the growth of the oral contraceptive pills market.
The upward trajectory of healthcare expenditure is poised to fuel the expansion of the oral contraceptive pill market in the foreseeable future. Healthcare expenditure refers to the total resources, including financial resources, allocated to healthcare services and products within a specific period. The increasing healthcare expenditure contributes to enhanced overall healthcare accessibility, facilitating a greater adoption of oral contraceptive pills through improved access to family planning services, consultations, and affordable prescriptions, thereby stimulating market growth. For example, according to the 2021-2030 National Health Expenditure (NHE) report published by the Centers for Medicare & Medicaid Services in March 2022, national health spending is projected to increase by an average of 5.1% annually between 2021 and 2030, reaching nearly $6.8 trillion. The report also anticipates a 7.2% annual rise in Medicare spending and a 5.6% annual increase in Medicaid spending from 2021 to 2030. Consequently, the escalating healthcare expenditures are propelling the growth of the oral contraceptive pills market.
Key institutes and companies in the oral contraceptive pill sector are actively engaged in developing innovative solutions, exemplified by HRA Pharma, a France-based healthcare company. In July 2022, HRA Pharma introduced Opill, an over-the-counter birth control pill, and applied for approval from the Food and Drug Administration in the United States. Opill, a progestin-based contraceptive, aims to provide easy access to contraception without unnecessary obstacles.
Prominent companies in the oral contraceptive pill market are also investing in innovative products, including progestin-only oral contraceptives, to cater to a broader customer base, increase sales, and boost revenue. Progestin-only oral contraceptives contain only a synthetic form of the hormone progestin. Perrigo Company PLC, an Ireland-based manufacturer of oral contraceptive pills, secured U.S. Food and Drug Administration (FDA) approval for Opill in July 2023. Opill, the first over-the-counter birth control pill in the United States, not only offers effective pregnancy prevention but also revolutionizes contraception access by being available without a prescription. This development underscores Perrigo's commitment to transformative solutions that enhance lives and exemplifies its dedication to pioneering impactful innovations in healthcare.
In April 2023, Marksans Pharma, an India-based pharmaceutical company, completed the acquisition of Teva Pharmaceutical Industries Ltd.'s manufacturing facility for an undisclosed amount. This acquisition provides Marksans with ownership of a 47,597-square-meter facility, effectively doubling its current production capacity in India to 8 billion units per year. The expanded facility will be utilized for manufacturing various pharmaceutical products, including tablets, hard and soft gel capsules, ointments, liquids, and creams, with Teva Pharmaceutical Industries Ltd. being known for its manufacturing of oral contraceptive pills.
Major companies operating in the oral contraceptive pills market report are Pfizer Inc., Johnson & Johnson, Merck & Co. Inc., Novartis AG, Abbvie Inc., Bayer AG, Sanofi S.A., GlaxoSmithKline PLC, Zydus Lifesciences Ltd., Sun Pharmaceutical Industries Ltd., Teva Pharmaceutical Industries Ltd., Church & Dwight Co Inc., Aurobindo Pharma Limited, Cipla Inc., Dr. Reddy's Laboratories Ltd., Ferring B.V, Amneal Pharmaceuticals LLC, Lupin Pharmaceuticals Inc., Vardhaman Lifecare Pvt. Ltd., Glenmark Pharmaceuticals, Piramal Enterprises Ltd., Mankind Pharma Ltd., Sopharma AD, Mayne Pharma, HLL Lifecare Limited, Famy Care Ltd., Syzygy Healthcare, V Care Pharma, Actavis PLC, Mylan N.V.
North America was the largest region in the oral contraceptive pills market in 2023. The Middle East is expected to be the largest growing region in the forecast period. The regions covered in the oral contraceptive pills market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the oral contraceptive pills market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The oral contraceptive pills market consists of sales of combined estrogen-progesterone, progesterone-only, and continuous or extended use pill. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Oral Contraceptive Pills Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on oral contraceptive pills market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for oral contraceptive pills ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The oral contraceptive pills market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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