Market Trends of Contraceptive Pills Industry
This section covers the major market trends shaping the Contraceptive Pills Market according to our research experts:
The Generic Segment is Expected to Hold a Significant Share of the Market Over the Forecast Period
By category, the generic segment is expected to witness significant growth. The generic segment has the largest share in the market due to the widespread adoption of generic contraceptives, owing to their low prices and market availability. For instance, in February 2022, Asda lowered the price of its generic emergency hormonal contraception (EHC) pill to GBP 9.89 (USD 13.33) to ensure it is more accessible to women in the United Kingdom.
Furthermore, the increasing need for population control and the rising incidence of abortion has driven the growth of generic contraceptive pills in the market. Thus, several market players are engaged in implementing strategic initiatives, thereby boosting market growth. For instance, in March 2021, Mayne Pharma Group Limited commercially launched a generic version of ORTHO-CEPT (desogestrel and Ethinyl estradiol 0.15 mg/0.03 mg) tablets to customers in the United States. Such developments are likely to positively impact the adoption of generic contraceptive pills among women.
Hence, due to the abovementioned factors, the segment is expected to witness significant growth during the forecast period.
North America is Expected to Hold the Largest Share in the Market
Within North America, the US holds a major share of the market owing to rapid developments in the healthcare infrastructure and high awareness about contraceptive pills in the region. For instance, according to the data published by NCBI in September 2022, the birth control contraception pill is the most commonly prescribed form of contraception in the United States, and approximately 25% of women aged 15 to 44 who currently use contraception reported using the pill as their method of choice; the most commonly prescribed pill was found to be the combined hormonal pill with estrogen and progesterone. Thus, the consumption of contraceptive pills in the United States is significant and is expected to continue over the forecast period.
Several organizations are also engaged in implementing strategic initiatives in the country. For instance, as per the Bill & Melinda Gates Foundation data published in 2022, the foundation is aiming to offer USD 280 million per year from 2021 to 2030 for developing new and improved contraceptive technologies, support family planning programs that reflect the preferences of local communities, and enable women and girls to be in control of their contraceptive care. Such developments are anticipated to boost the adoption of oral contraceptive pills in the country, thereby boosting the market growth.
Hence, due to the abovementioned factors, the market is expected to witness significant growth over the forecast period.
