Rise in Unintended Pregnancies to Drive Global Oral Contraceptive Pills Market till 202325 Feb 2016
When oral contraceptives first became widely available in the 1960s in the United States, the sale and consumption of such pills became the center of several controversies. These controversies were not solely based on religious and cultural grounds, but also on whether or not these pills were safe to consume. With oral contraceptive formulations having improved and with women’s role in society having changed drastically since then, the use of oral contraceptives has become common today, creating a multibillion-dollar market worldwide. According to Transparency Market Research, the global oral contraceptive pills market had a valuation of US$13.1 bn in 2014. The market is expected to rise to US$22.9 bn in 2023, registering a CAGR of 6.6% between 2015 and 2023.
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Changing Lifestyle Choices of Women and Late Pregnancies Driving Demand for Oral Contraceptive Pills
With more women being sexually active at a progressively younger age, the number of unintended pregnancies has risen over the years. The degree of awareness pertaining to the use of oral contraceptives has also grown considerably over the last few decades thanks in part to government initiatives and not-for-profit organizations. At the same time, with more women entering the workforce across the world, empowering them to make decisions about conception, planned pregnancies have become more common.
Other factors such as increasing maternal age and the trend of conceiving in the 30s or later has further helped the demand for oral contraceptive pills to rise. All of these factors have acted as a trigger for the growth of the oral contraceptive pills market. However, in some cultures, contraception is still not popularly accepted. This factor could hinder the growth of the oral contraceptive pills market in the coming years.
Combination Contraceptive Pills Projected to Witness High Demand
The two types of oral contraceptive pills commonly available currently are: progestin-only pills and combination pills (estrogen and progestin). The latter feature a combination of ethinyl estradiol and progestin, which are similar to estrogen and progesterone – the natural sex hormones produced by females. Combination pills are typically monophasic, biphasic, triphasic, and quadriphasic.
Of these, monophasic combination pills accounted for the largest sub-segment in the oral contraceptive pills market by type in 2014 thanks chiefly to their higher efficacy. Monophasic pills are generally sold in three varieties, each with a different dose of estrogen. These include: low dose (20 mcg), high dose (50 mcg), and regular dose (30 mcg to 35 mcg). Low-dose estrogen monophasic pills cause comparatively lower side effects, making them the preferred oral contraceptive among women.Sales of emergency contraceptives have been rising steadily over the recent past, especially since many of these pills have been approved for over-the-counter sale.
Led by the United States, North America Oral Contraceptive Pills Market Leads Globally
In 2014, North America stood as the largest regional market for oral contraceptive pills. The high rate of unintended pregnancies in the United States has propelled the market for oral contraceptives in North America. Elsewhere, in countries such as India, Norway, and Sweden, governments have recognized oral contraceptive pills as a viable method to reduce redundant healthcare expenses. The Asia Pacific oral contraceptive pills market will report rapid growth over the next few years.
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