Number of pages: 100 | Report Format: PDF | Published date: March 03, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global oral contraceptive pills market was valued at US$ 17.9 billion in 2022 and is expected to register a revenue CAGR of 7.25% to reach US$ 33.7 billion by 2031.
Oral Contraceptive Pills Market Fundamentals
Oral contraceptives, or birth control pills, offer women and couples a variety of alternatives to delay, terminate, and limit pregnancies. This is the most widely adopted method of contraception. Moreover, when taken correctly, the method is 99% effective in preventing pregnancies. Excess usage of contraceptive pills leads to delays in the menstrual cycle, cramps associated with the period, and the risk of ovarian cysts and acne.
Oral contraception is often recommended for four weeks, with each package comprising four to seven days of hormone-free tablets. During these hormone-free days, women have their periods. Certain medications provide extended or continuous hormone doses with fewer or no hormone-free days, allowing women to have their periods less than once a month. There are three forms of oral contraceptive pills, continuous or prolonged use, progesterone or progestin-only, and combination estrogen-progesterone pills. Combined oral contraceptive pills contain synthetic forms of female hormones, such as estrogen and progesterone. Combined oral contraceptive comes in two forms, monophasic and multiphasic. Monophasic contraceptive pills are the most commonly preferred combination of contraceptive pills. Monophasic contraceptive tablet has the same quantity of hormones. Microgynon, Marvelon, and Yasmin are common examples of monophasic pills.
Oral Contraceptive Pills Market Dynamics
The high demand for oral contraceptive pills among people of reproductive age fuels the global market development. According to the National Library of Medicine in the United States, the birth control pill is the most widely recommended method of contraception. Around 25% of women aged 15 to 44 using contraception presently report choosing contraception pills as their preferred choice. This is majorly due to its easy accessibility and high efficacy. Moreover, contraceptive pills are also demanded in low and middle-income countries. According to the 2019 United Nations data booklet estimates, contraceptive use by the Method, about 10.5% of women in Northern Africa and Western Asia use oral contraceptive pills as their first choice of contraception.
The market for oral contraceptive pills is anticipated to rise over the forecast years due to the increasing rate of unwanted births. According to research by the University of California, San Francisco, the rates of unplanned pregnancy and abortion decreased significantly when women obtained a one-year prescription for oral contraceptives. Every year, 74 million women in low- and middle-income nations have unwanted pregnancies. According to the World Health Organization (WHO), around 4,794 women experience unintended pregnancies after stopping contraception. As a result, the urge to avoid unexpected births promotes revenue growth in the market for oral contraceptive pills.
Increasing government initiatives for contraception is another factor influencing the global oral contraceptive pills market. For instance, in September 2022, the Ministry of Health in Ireland launched a free contraception scheme for women aged 17-25. The government supported the scheme with 9 Euro million in the 2022 budget. This free contraception plan was expected to cover the cost of prescribed contraception and visits with general practitioners and other qualified medical experts to discuss available contraceptive methods with eligible patients and write prescriptions for them.
However, the health risks associated with contraceptive usage, the availability of alternative contraceptive methods, and lower social acceptance are limiting the global oral contraceptive pills market revenue growth to some extent.
Oral Contraceptive Pills Market Ecosystem
The global oral contraceptive pills market has been analyzed from four perspectives: drug type, distribution channel, and region.
Oral contraceptive pills market by Drug Type
Based on the drug type, the global oral contraceptive pills market has been segmented into combined pills, extended/continuous use, progestin-only, and emergency contraceptive pills.
The progestin-only drugs segment accounted for the majority of market revenue share in 2022, owing to their high efficacy rate. Progestin-only contraceptive pills are safe even during lactation as they do not suppress breast milk production. Moreover, Progestin-only contraceptive drugs can be a safe alternative for women who cannot use estrogen-based contraceptives due to certain cardiac disorders or other contraindications, such as a tendency for blood clots, who are advised not to use combination pills. Progestin pills are not associated with a rise in blood pressure or cardiovascular diseases. Furthermore, progestin can also help in improving menstrual conditions. Since progestin thins the uterine lining, there is less lining to shed, resulting in lighter periods, a decrease in severe premenstrual symptoms, and less cramping for most women who use progestin-only tablets.
The combination contraceptive drugs segment is anticipated to grow at higher revenue CAGR during the forecast period. This is attributed to the increasing demand for combination drugs. Additionally, combination oral contraceptive formulations and pill-taking patterns have improved over time, preserving contraceptive effectiveness while being safer and more tolerable. The usage of combination oral contraception offers users several important non-contraceptive advantages in addition to pregnancy prevention.
The demand for emergency contraceptive pills has grown significantly in the last few years. This is majorly attributed to increasing awareness about its efficacy. Emergency oral contraceptive pills are also suitable for women who cannot use oral combination contraceptive pills.
Oral contraceptive pills market by Distribution Channel
Based on the distribution channel, the global oral contraceptive pills market has been segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The retail pharmacies segment accounted for the largest revenue share in 2022. This is attributed to the rising preference of end-users to buy oral contraceptive pills from retail pharmacies, including convenient access to medication, potentially lower costs, and increased privacy. Additionally, several retail pharmacies offer counseling and education services to help patients better understand their medication and their effective usage. Overall, obtaining oral contraceptive pills from a retail pharmacy can be a great option for those seeking a convenient and affordable way to manage their reproductive health.
The online pharmacies segment is anticipated to experience high revenue growth during the forecast period. This is attributed to lower and discounted prices of contraceptive drugs online pharmacies offer than traditional pharmacies.
Oral contraceptive pills market by Region
Based on the region, the global oral contraceptive pills market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America accounted for the largest revenue share in the global contraceptive pills market in 2022, owing to the region’s high demand for contraceptive pills. This is attributed to increased awareness about its efficacy and accuracy. Moreover, according to the National Library of Medicine, In the United States, the birth control pill is a commonly prescribed method of birth control. Moreover, in several states, contemporary advocacy and legislative initiatives have been directed at increasing access to oral contraceptives by eliminating the need for women first attend an in-person clinician consultation. Furthermore, the contraceptive pills market in North America is also led by increasing per capita income and growing awareness about and high prevalence of unintended pregnancies.
Europe accounts for the second-largest revenue share in the market. One of the primary reasons driving the market in the region is the widespread awareness and easy accessibility to drugs. Furthermore, the government and non-government organizations in the region are taking initiatives to increase awareness about contraceptive pills. For instance, governments are implementing various educational initiatives emphasizing the significance of birth control due to the growing population.
Asia Pacific is one of the fastest-growing regions in the global market due to the high demand for contraceptive pills. The region is experiencing a significant rise in population, especially in emerging nations, such as China and India. Governments in this region have developed programs to spread awareness about family planning and birth control. The widespread availability of OTC oral contraceptive pills is driving the market revenue growth in the Asia Pacific.
Oral Contraceptive Pills Market Competitive Landscape
The prominent market players in the global oral contraceptive pills market include:
Oral Contraceptive Pills Market Strategic Developments
The global oral contraceptive pills market was valued at US$ 17.9 billion in 2022.
North America is the key growth region in the global oral contraceptive pills market.
AbbVie, Inc., Pfizer, Inc., Merck & Co., Inc., Bayer AG, and Teva Pharmaceuticals Industries are among the top market players.
The progestin-only contraceptive pills segment leads the global oral contraceptive pills market.
The global oral contraceptive pills market is expected to reach 33.7 billion by 2031.
*Insights on financial performance are subject to the availability of information in the public domain