Global Contraceptive pills Market - Overview
Anti-conception medication pills which are also called as oral contraceptive pills are a kind of female hormonal anti-conception medication technique and are extremely viable at avoiding pregnancy. These pills are small tablets that a patient swallow every day. These birth control pills are been used from ancient times but the save and effective methods are introduce and available from 20th century. Contraceptive drugs are used to prevent the unwanted pregnancy by blocking the normal process of ovulations or by altering the process which support the fertilization of egg. Most pills contain two sorts of manufactured (man-made) female hormones: estrogen and progestin. These are like the estrogen and progesterone regularly made by the ovaries. These pills are called "combination oral contraceptives," and there are a wide range of these kinds.
Increasing need of population control and increasing incident of abortion has driven the growth of the market. Governmental initiatives for minimizing unwanted pregnancy, increasing awareness and healthcare expenditure, and increasing in use of contraceptives drugs has provided fuel for the growth of the market. While the side effects of the treatment and strict governmental rules in many countries may hamper the growth of the market.
Geographically, North America commands the largest market for the contraceptive drug market. Approximately 3 million women in North America experiences unplanned pregnancy. Beside this 90 % of the women use some of the method of contraception. Thus increasing number of abortion and rate of unplanned pregnancy has driven this market in North America. Major market of North America is contributed by US which is followed by Canada. Increasing awareness and minimizing the healthcare expenses by curbing number of abortion in US encourage contraceptive use among women. North America contraceptives drug market is expected to grow at a CAGR of 5.9 % during forecasted period.
The market for contraceptive pills is characterised by the presence of several well-established and small players, the global market of contraceptive pills appears to be highly competitive and fragmented. Major players are increasingly expanding their footprint in the emerging nations, making it putting pressure on the regional players, especially in terms of features such as type, product portfolios, and pricing.
Contraceptive Pills Industry is witnessing intensified competition which is expected to get more intensified further during the forecast period. The contraceptive pills market appears to be highly competitive owing to the presence of several large and small key players accounting for a substantial market share. Well established players are getting into various product launches in order to gain competitive advantage in this market and to maintain their market position.
For instance, in 2015, Pfizer Inc. has introduced SAYANA, first injectable contraceptive in UK which can be self-administered.
While, in 2015, Teva Pharmaceutical Industries Ltd. has launched Beyaz which is a generic contraceptive drug. It is one of the most successful product of the company and in 2016 it has annual sales of approximately $133 million in the US. Recently, in March 2017, the company has launched a new product Minastrin in the market. Moreover, the company has launched the generic version of Janssen’s birth control pills Ortho Tri-Cyclen Lo. Into the brand name of Tri-Lo-Sprintec (norgetimate and ethinyl estradiol) tablets.
Therefore, the growing partnerships and product launches to expand their presence in various parts of the globe for their competitive products has spurred the growth of the market.
ALSO READ @ https://www.marketresearchfuture.com/reports/contraceptive-pills-market-2122
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