Published Date : Oct 04, 2016
Unplanned and unwanted pregnancies have been the biggest cause of the spike in the consumption of oral contraceptive pills. Currently, the global market offers combination pills and progestin only. These drugs are widely available as branded and generic across all the regions of the world. The growing number of such pregnancies in the age group of 15 to 44 has prompted several organizations and institutions to raise awareness about benefits of oral contraception, especially amongst the rural women.
Awareness Initiatives Boost Market Growth
Some of the leading players are also encouraging such educative programs about family planning and the choice women have in the process of procreation. The top players in the global oral contraceptive pill market are Bayer AG, Allergan,plc (Actavis), Janssen Global Services, LLC, Mankind Pharma Ltd, Teva Pharmaceutical Industries Ltd., Pfizer, Inc., Piramal Enterprises Ltd., and Merck & Co., Inc.
Asia Pacific Shows Promise of Growth for Global Market
From a regional point of view, the market is segmented into North America, Asia Pacific, Europe, Latin America, the Middle East and Africa, and the Rest of the World. Of these regions, Asia Pacific is anticipated to be a lucrative region for the players in the oral contraceptive market. The strengthening economies of the Philippines, Australia, China, Singapore, and India are anticipated to make a major contribution to the overall market in the coming years. The increasing awareness about family planning, desire to raise a healthy family, and the rising disposable incomes have all triggered a considerable demand for contraceptive pills in recent years.
North America too has shown a significant demand for contraceptive pills in the past few years. Affordable Care Act has been the primary growth driver for the market in this region. Furthermore, favorable reimbursement policies has also led to a rise in the sales of these pills.