Global Oral Contraceptive Pills Market to be worth US$22.9 bn by 2023, Increasing Awareness Regarding Benefits of Contraceptive Pills Drives Growth

Transparency Market Research (TMR) has recently published a study on the global oral contraceptive pills market and estimated the market to rise at a CAGR of 6.60% during the period from 2015 and 2023. The market is expected to increase from a value of US$13.1 bn in 2014 to US$22.9 bn by the end of the forecast period.The research report is titled “Oral Contraceptive Pills Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”

Oral contraceptive pills are used to prevent unintended pregnancies. These pills contain several hormones that prevent ovulation in females. The increasing number of awareness programs organized by various governments and NGOs across the world is driving the demand for oral contraceptive pills significantly in the global arena. In addition to this, the rising age of maternity, together with the adoption of family planning by a number of couples, is likely to facilitate steady growth of this market during the forecast period.

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The report studies the global market for contraceptive pills on the basis of the type, category, and regional distribution. Based on the type of oral contraceptive pills, the market has been classified into progestin-only pills, combination pills, and other types of pills.

The combination contraceptive pills segment led the overall market in 2014 and is likely to maintain its dominance over the forecast period. The high efficiency of combination pills is increasing their popularity among consumers, which is likely to drive their demand remarkably in the coming years.

In terms of the category, the market has been segmented into generic oral contraceptive pills and branded oral contraceptive pills. In 2014, the generic contraceptive pills segment dominated the overall market. Analysts project this segment to retain its leadership over the forecast period, owing to the massive demand for generic contraceptive pills, propelled by their declining prices.

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Based on the regional distribution of this market, the report categorizes the global oral contraceptive pills market into Asia Pacific, Europe, Latin America, North America, and the Middle East and Africa. North America held the leading position in the overall market in 2014. The rising number of unintended pregnancies in North American countries has fueled the demand for oral contraceptive pills in North America significantly.

Additionally, the increasing awareness pertaining to contraceptives and the advantages they offer in preventing unwanted pregnancies and the implementation of favorable reimbursement regulations are likely to propel the North America market for oral contraceptive pills in the near future.

Asia Pacific is anticipated to witness a surge in the demand for oral contraceptive pills and emerge as the most attractive regional market over the next few years. The rising awareness regarding the usage of contraception to prevent unwanted pregnancies is projected to boost the Asia Pacific market for oral contraceptive pills during the forecast period, states the report.

Pfizer Inc., Teva Pharmaceutical Industries Ltd., Mankind Pharma Ltd., Allergan plc (Actavis), Janssen Global Services LLC, Piramal Enterprises Ltd., Merck & Co. Inc., and Bayer AG are some of the major international producers of oral contraceptive pills mentioned in this research study.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.