Oral Contraceptive Pills Market Size to Surpass US$ 33.7 Billion by 2031 - Growth Plus Reports
Newark, New Castle, USA, May 18, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports estimated the size of the global market for *oral contraceptive pills* in 2022 to be worth *US$ 17.9 billion* and is expected to increase at a revenue *CAGR of 7.25%* to reach *US$ 33.7 billion **by 2031*.
Analysis of the global market for oral contraceptive pills indicates that during the forecast period, revenue share is likely to increase significantly. Birth control pills or oral contraceptives give women and couples several options for delaying, terminating, and limiting pregnancies.
*Key Takeaways: *
· According to the World Health Organization (WHO), 74 million women in low-middle-income countries become pregnant unintentionally each year. Of these, 4,794 women suffered pregnancies after ceasing to utilize contraception.
· The ease of acceptability and high efficacy drive the market revenue share of oral contraceptive pills.
· The government measures to promote contraception are driving the market demand.
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* Oral Contraceptive Pills Market Scope*
*Report Attribute* *Details*
Market size value in 2022 US$ 17.9 billion
Revenue Forecast in 2031 US$ 33.7 billion
Growth Rate CAGR of 7.25% from 2023 to 2031
Base Year for Estimation 2022
Forecast Period 2023-2031
Historical Year 2021
Segments Covered Drug Type, Distribution Channel, and Region
Regional Scope North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
*Recent Development in the Oral Contraceptive Pills Market: *
• In November 2022, The US Food and Drug Administration (FDA) gave provisional approval to Lupin Limited's Abbreviated New Drug Application (ANDA), Drospirenone Tablets, 4 mg, a generic version of Exeltis USA Inc.'s Slynd Tablets, 4 mg.
*Competitive Landscape*
A list of the prominent players operating in the global market for oral contraceptive pills includes:
• Pfizer, Inc
• Merck & Co., Inc.
• Bayer AG
• GlaxoSmithKline Plc
• AbbVie, Inc.
*Market Drivers and Restraints: *
The global oral contraceptive pills market revenue is driven by the rising need for population control, government awareness about family planning, rising awareness among the population for unintended pregnancy, and global increase in maternity age.
However, due to the potential side effects of these drugs, the availability of alternative methods, and the lack of awareness in the rural population, the oral contraceptive pills market revenue growth is expected to be restrained.
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*Market Segmentation: *
*Segmentation By Drug Type*
Based on the drug type, the progestin-only segment, with a sizable revenue share, dominates the global oral contraceptive pills market. This large revenue share is attributed to its high efficacy rates, safe to use even in the case of lactating mothers, and improving menstrual conditions.
*Segmentation By Distribution Channel*
Based on the distribution channel, the retail pharmacies segment dominates the global oral contraceptive pills market with the largest revenue share. The significant revenue share is attributed to quick medicine access, potential cost savings, and high privacy. To help customers understand their medications and how to use them properly, many retail pharmacies now provide counseling and education services.
*Regional Growth Dynamics*
Based on the region, North America, with the largest revenue share, dominates the global oral contraceptive pills market. This sizable revenue share is attributed to the high demand for birth control pills in North America. This is explained by growing knowledge of its effectiveness, accuracy, and frequent unwanted pregnancies in this region.
*Report Coverage *
Growth Plus Reports extensively researched the world market for oral contraceptive pills. We looked at the basic market traits, important investment spheres, regional growth analytics, ten-year revenue projections, rival market participants, and mergers and acquisitions.
*Table of Content*
1. *INTRODUCTION*
1. Market Ecosystem
2. Timeline Under Consideration
1. Historical Years – 2021
2. Base Year – 2022
3. Forecast Years – 2023 to 2031
3. Currency Used in the Report
2. *RESEARCH METHODOLOGY *
1. Research Approach
2. Data Collection Methodology
3. Data Sources
1. Secondary Sources
2. Primary Sources
4. Market Estimation Approach
1. Bottom Up
2. Top Down
5. Market Forecasting Model
6. Limitations and Assumptions
3. *PREMIUM INSIGHTS*
1. Current Market Trends (COVID-19 Perspective)
2. Key Players & Competitive Positioning (2022)
3. Regulatory Landscape
4. Reimbursement Scenario
4. *MARKET DYNAMICS*
1. Drivers
2. Restraints/Challenges
3. Opportunities
5. *GLOBAL ORAL CONTRACEPTIVE PILLS MARKET - ANALYSIS & FORECAST, BY DRUG TYPE*
1. Combined Pills
2. Extended/Continuous Use
3. Progestin Only
4. Emergency Contraceptive Pills
6. *GLOBAL ORAL CONTRACEPTIVE PILLS MARKET - ANALYSIS & FORECAST, BY DISTRIBUTION CHANNEL*
1. Hospital Pharmacies
2. Retail Pharmacies
3. Online Pharmacies
*ORAL CONTRACEPTIVE PILLS MARKET TOC*
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