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Contraceptive Pills Market Size, Industry Share, Business Analysis and Growth Forecast to 2027

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Avani Sable
Contraceptive Pills Market Size, Industry Share, Business Analysis and Growth Forecast to 2027

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. 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.

visit: https://www.fortunebusinessinsights.com/industry-reports/contraceptive-pills-market-101802

 Fortune Business Insights™, in its report, titled “Contraceptive Pills Market Size, Share & Industry Analysis, By Type (Combination Pills and Progestin-only Pills), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Clinics, Online Channel, Public Channel & NGO, and Others) and Regional Forecast, 2019-2026”, states that the value of this market stood at USD 13.11 billion in 2018

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.

Exciting Opportunities Await Local and Regional Players in the Market

While big companies such as Bayer AG are benefiting owing to their well-established presence, smaller players operating at the local and regional level are also slowly gaining ground in this market. This is a result of launching of innovative products by these players along with certain capacity restrictions hounding the large players.

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