“The Global Oral Contraceptive Pills Market is expected to grow at a CAGR during the forecasting period (2021-2028)”.
Oral contraceptive pills, commonly referred to as birth control pills, are medications that prevent pregnancy. They are hormonal preparations that may contain combinations of estrogen and progestin or progestin alone.
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The major factors driving the growth of this market are the growing prevalence of unintended pregnancies, increase in favorable government policies and rise in awareness among consumers regarding unintended pregnancies are expected to drive the growth of the oral contraceptive pills market.
Women are frequently using oral contraceptive pills to prevent unintended pregnancies
Women are delaying motherhood to prioritize their careers and manage their job safety. Raising the number of unstable relationships and high costs involved in growing a child is certain factors that are increasingly prompting women to postpone pregnancy, thereby fueling this market. However, in emerging countries, the supply of contraceptives is minor than the increasing demand for these drugs. Moreover, particularly in Africa, diseases like HIV have used drugs that inhibit pregnancy essential for women. Thus, net sales of contraceptive pills in emerging countries are expected to increase the market growth over the forecast period.
The University of California, San Francisco (UCSF) research shows that undesired pregnancy and abortion rates decreased substantially while women received a one-year prescription of oral contraceptives. As per the World Health Organization, 74 million women residing in low-middle-income nations register unplanned pregnancies every year. The World Health Organization research noticed 4,794 women had undesired pregnancies after they had discontinued using contraceptives. Hence, the need to avoid undesired pregnancies stimulates the growth of the oral contraceptive pills market.
Expeditious need to curb population growth to drive the market growth
According to the United Nations Department of Economic and Social Affairs, by 2030, the world population will reach 8.6 billion, and by 2050, it will be 9.8 billion. The prevalent anxiety is that such an explosion of numbers will create vast socio-economic imbalances, especially in developing countries.
Governments are taking proactive measures around the globe about family planning and contraceptives to avoid accidental pregnancies. This urgent need to control population growth is supposed to be one of the best contraceptive pills market trends in the immediate future. Moreover, the increasing prevalence of teenage pregnancies, particularly in the U.S., has also emerged as a central factor driving the growth of this market.
Global Oral Contraceptive Pills Market – By Type
Global Oral Contraceptive Pills Market – By Category
Global Oral Contraceptive Pills Market – By Distribution Channel
Global Oral Contraceptive Pills Market – By Region
Middle East & Africa
The oral contraceptive pills market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Teva Pharmaceutical Industries Ltd, Bayer AG, Syzygy Healthcare, Mankind Pharma Ltd., Pfizer Inc., Primal Enterprises Ltd., Ferring B.V, Zizhu Pharmaceutical Co. Ltd, Xi’an Julong Bio-Tech Co., Ltd., Beijing Union Pharmaceutical Factory, among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the oral contraceptive pills market globally.
Sai Kiran Sales Manager at DataM Intelligence Email: [email protected] Tel: +1 877 441 4866 Website: www.datamintelligence.com