The oral contraceptive pills market has witnessed significant growth, rising from $23.66 billion in 2023 to $27.12 billion in 2024, showcasing a CAGR of 14.6%. This growth is attributed to increasing awareness and rising women's health concerns. The market is expected to reach $47.15 billion by 2028, with a CAGR of 14.8%. Factors influencing this growth include advancements in healthcare infrastructure and a focus on minimizing side effects. Noteworthy trends involve the emergence of non-hormonal contraceptive alternatives and tailored contraceptive regimens.
Major Driver In The Oral Contraceptive Pills Market
The high incidence of unintended pregnancies is expected to drive the growth of the oral contraceptive pills market over the coming years. Unintended pregnancies, defined as pregnancies that are consistently unwanted, present a significant healthcare challenge globally. Studies conducted by the University of California, San Francisco (UCSF) indicate a substantial decline in rates of unwanted pregnancies and abortions among women receiving one-year prescriptions of oral contraceptives. According to the World Health Organization (WHO), approximately 74 million women in low-middle-income economies experience unplanned pregnancies annually. WHO research also highlights that 4,794 women reported unplanned pregnancies after discontinuing contraceptive use. Thus, the imperative to prevent unintended pregnancies serves as a primary driver for the growth of the oral contraceptive pills market. The demand for oral contraceptive pills is expected to surge in response to increasing awareness of family planning and reproductive health. Market analyses for 2023 reveal significant growth opportunities in the oral contraceptive pills sector, driven by heightened demand for effective contraceptive solutions. Projections for 2024 and beyond anticipate sustained market growth, underpinned by evolving healthcare policies and increasing emphasis on women's reproductive rights globally.
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Oral Contraceptive Pills Market Competitive Landscape
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.
Key Oral Contraceptive Pills Market Trend
Major institutes and companies operating in the oral contraceptive pill sector are focusing on developing innovative solutions for oral contraceptive pills. For instance, in July 2022, HRA Pharma, a France based innovative healthcare company, developed an over-the-counter birth control pill called Opill. HRA Pharma has applied to the Food and Drug Administration in the United States. Opil is a progestin-based contraceptive that helps people access contraception without facing any difficulty.
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Oral Contraceptive Pills Market Segmentation
The oral contraceptive pills market covered in this report is segmented –
1) By Type: Combination, Progestin Only, Other Types
2) By Category: Generic, Branded
3) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channel, Public Channel And NGO, Other Distribution Channels
By Geography:The regions 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.
North America was the largest region in the oral contraceptive pills market in 2023.
The Oral Contraceptive Pills Global Market Report 2024 furnishes information about the global oral contraceptive pills market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
