Global Oral Contraceptive Pills Market Projected to Expand at ~6% CAGR, Rising Number of Unplanned Pregnancies Drives Market Demand: TMR
- Global oral contraceptive pills market is likely to show upward graph of sales on the back of increased initiatives by government authorities to grow awareness and promote the use of advanced contraceptive methods
- The North America oral contraceptive pills market is estimated to continue its dominance during the assessment period
ALBANY, N.Y., Nov. 12, 2020 /PRNewswire/ -- The global oral contraceptive pills market is projected to gather lucrative avenues during the assessment period 2019–2027. One of the key factors attributed to this growth is increased instances of unintended pregnancies all across the globe.
Contraceptive pill refers to a daily pill that helps in prevention of unwanted pregnancy. These pills are also known as birth control pills. At present, there are two product types available in the market, namely, progestin-only pill and combination pill with two hormones (progestin and estrogen).
Analysts at TMR are of the opinion that the global oral contraceptive pills market will show growth at a CAGR of ~6% during assessment period of 2019 to 2027. The market is foreseen to gain the advantage of increased initiatives by government bodies as well as NGOs across the world to grow awareness about family planning.
Oral Contraceptive Pills Market: Key Driving Factors and Promising Avenues
The global oral contraceptive pills market is likely to experience promising demand opportunities in the forthcoming years.
In recent couple of decades, there is remarkable increase in cases of unplanned pregnancies among females of age group 15 to 44. In majority of instances, this scenario results into abortions and unnecessary healthcare expense. To avoid this situation, there is remarkable increase in demand for contraceptives from all across the globe. This scenario shows that the global oral contraceptive pills market will gain lucrative avenues during the tenure of 2019 to 2027.
The government bodies of several countries from developing as well as developed nations including Sweden, the U.S., India, and Norway are increasing efforts to grow awareness about more effectual and advanced contraceptive methods. They are encouraging women population to select these techniques. This factor is predicted to impact positively on the expansion of the global oral contraceptive pills market in the forthcoming years.
The latest report on the global oral contraceptive pills market profiles key players operating in this market. Thus, it covers important insights regarding product portfolio, financial overview, recent developments, business strategies, and complete overview of key companies working in this market.
The oral contraceptive pills market experiences presence of many international-level enterprises. As a result, the competitive landscape of the market for the oral contraceptive pills is moderately intense.
To maintain leading position in the market for oral contraceptive pills, players are utilizing numerous organic as well as inorganic strategies. Some of the popular strategies include increased spending on research activities to develop technologically advanced products, regulatory approvals, and introduction of new products.
Apart from this, many companies in the market for oral contraceptive pills are growing focus on acquisition and collaborative agreements. Owing to all these activities, the oral contraceptive pills market is foreseen to grow at rapid pace in the assessment period of 2019 to 2027.
The list of important companies working in the oral contraceptive pills market includes Bayer AG, Allergan plc, Mankind Pharma Ltd., Johnson & Johnson Services, Inc., and Merck & Co., Inc.
The report performs study of the global oral contraceptive pills market by segmenting it as follows:
Middle East & Africa
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Hormonal Contraceptive Market: The demand within the global hormonal contraceptives market is rising at a stellar pace in recent times. There has been an increase in the use of birth control methods, especially across high-population regions. Several countries are encouraging the use of contraceptives to control birth rates and manage the exponential rise in population.
Women's Health Market: The global women's health market is likely to be adversely impacted by the ongoing outbreak of coronavirus across the globe. While the health of women, particularly in countries with a poor record in violence against women and health of women, continue to overlook the health-related needs of women, particularly working women who continue to work from home and do household chores at the same time
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