Contraceptive Pills Market to Grow at over 7% until 2024
Advancements in medicine along with
rising awareness about sexual health to drive global contraceptive pills
market through 2024
According to
TechSci Research report, “Global Contraceptive
Pills Market By Pill Type, By Category, By Sales Channel, By Region,
Competition, Forecast & Opportunities, 2024”, global
contraceptive pills market is projected to grow at a CAGR of around 7% during
2019-2024, on the back of rising need for population control. Moreover, changing
lifestyle and rapidly melting social, religious and ethical barriers are further
leading to a significant surge in the uptake of contraceptive pills globally. In
terms of sales channel, contraceptive pills market is categorized into offline
and online, of which offline accounted for around 69% share in global
contraceptive pills market in 2018. Online sales channel accounts for over 31% share
owing to time constraint associated with it. Time constraint associated with
intake of ‘morning after pills’ is a major factor hindering the growth of
online sales channel.
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North America contraceptive
pills market dominates global contraceptive pills market owing to increasing
awareness regarding the need for contraceptives for birth control, high
population and easy availability of contraceptives as a convenient way of birth
control. Among countries, United States was one of the largest markets for
contraceptive pills in 2018. United States is the world’s most developed
country, with a population of 3.38 billion. Voluntary family planning has been
widely adopted throughout the country with the efforts of the government. The
initiatives taken by the governments towards family planning and easy access to
contraceptives such as emergency contraceptive pills have increased their
popularity among women in United States for preventing pregnancy-related health
risks, unsafe abortion, and adolescent pregnancies.
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“Global contraceptive pills market is anticipated to register
a steady growth over the course of next five years. Factors like increasing prevalence
of unwanted pregnancies, easy availability of contraceptives pills and their
low cost are positively influencing global contraceptive pills market. Moreover,
rising efforts of governments to increase awareness regarding contraceptives is
further anticipated to steer growth in the market over the coming years.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Contraceptive
Pills Market By Pill Type, By Category, By Sales Channel, By Region,
Competition, Forecast & Opportunities, 2024”, has evaluated the future
growth potential of global contraceptive pills market and provides statistics
and information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in global contraceptive pills market.
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