The global contraceptive pills market size is projected to reach USD 20.55 billion by 2026, exhibiting a CAGR of 5.8% during the forecast period. High degree of unfulfilled contraceptive needs in rural areas in emerging economies is expected to be one of the key drivers for the growth of this market. Data gathered under the Demographic and Health Surveys (DHS) conducted between 2005 and 2014 in 52 developing countries revealed that around 8% to 38% of married rural women, aged between 15 and 49 years, faced unmet contraceptive needs.
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The main reason for this gap is the lack of accessibility and local availability of birth-control pills in these areas. To counter this, governments in many developing and underdeveloped countries are taking efforts to make these modern day medications more accessible and affordable to the rural populace. This will effectively accelerate the oral contraceptives market growth during the forecast period.
Leading Players operating in the Contraceptive Pills Market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Janssen Pharmaceutical Company
- Piramal Enterprises
- Allergan, plc
- Mylan N.V.
- Pfizer, Inc.
- Bayer AG
- Teva Pharmaceutical Industries
- HLL Lifecare Limited
- Merck & Co., Inc.
Expeditious Need to Curb Population Growth to Feed Market Development
According to the United Nations’ Department of Economic and Social Affairs, by 2030, world population will reach 8.6 billion and by 2050, it will be 9.8 billion. The prevalent anxiety is that such explosion of numbers will create wide socio-economic imbalances, especially in poor countries. Proactive measures are being taken by governments across the globe about family planning and use of the contraceptives to avoid unnecessary pregnancies. This desperate need to control population growth is expected to be one of the leading contraceptive pills market trends in the immediate future. Furthermore, increasing prevalence of teenage pregnancies, particularly in the U.S. has also emerged as a central factor driving the growth of this market.
Reasons to Purchase this Report:
- Comprehensive analysis of the Contraceptive Pills Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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KEY QUESTIONS ANSWERED:
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- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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- What is the market size and growth rate of the global and regional market by various segments?
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- What Factors are estimated to drive and restrain the Contraceptive Pills Market growth?
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