Emergency Contraceptive Pills pegged to Rake US$ 1.2 Bn in Global Revenues by 2022; High Demand for Combination Pills.
Medicines’ vertical is subject to adoption of enhanced digital technologies, which do help in mitigating the counterfeit drugs as per governments’ regulatory reforms. As such, with conventional batch production methods witnessing declination, various pharmaceutical companies are on the lookout for technology to aid in optimizing the paradigm shift with respect to pharma fulfilment supply chain. In other words, the medicine market could be witnessing an upswing in the forecast period, in line with digital transformation in the next 10 years.
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Negative perceptions about emergency contraception are likely to hamper the sales of “morning after” pills in the future. Despite the high accessibility of emergency contraceptive pills, followed by rising awareness of highly-effective birth control methods, incidences of unwanted or mistimed pregnancies persist.
Moreover, high risk of morbidity and mortality associated with these pregnancies is disintegrating the fabric of urban cultures.
- Teva Pharmaceutical Industries Ltd.
- Bayer AG, HRA Pharma
- Piramal Enterprises Limited
- Mankind Pharma Ltd.
- Gedeon Richter Plc
- Lupin Limited
- Cooper Pharma
- Pfizer Inc.
- Zhejiang Xianju Pharmaceutical Co.
While unprotected sex continues to be a matter of mutual consent, obstetricians advise couples to opt for emergency contraception, particularly in healthcare settings with lack of accessibility to proper & safe abortion. Since unprotected sex also increases the risks of sexually transmitted infections, the ineffectiveness of emergency contraceptive pills in protection from venereal diseases continues to be a concern for manufacturers.
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Sales of emergency contraceptive pills are also being adversely impacted by unresolved side effects of emergency contraception – which include time constraint for intake, heavy vomiting, muscle spasms, and feeling nauseous.
According to Persistence Market Research’s newly-published study, the global sales of emergency contraceptive pills are expected to dwindle in the next five years. By the end of 2022, the global market for emergency contraceptive pills will have reached a value of just over US$ 1,230 Mn. During the forecast period, 2017-2022, the global emergency contraceptive pill market is anticipated to exhibit sluggish growth and reflect less than 3% CAGR.
Combination Pills showcase promising growth potential
The report segments the global market for emergency contraceptive pills on the basis of products, among which combination pills are expected to dominate the market revenues.
In the foreseeable future, combination pills will witness relatively higher sales in the global market, primarily due to their health benefits in reducing risk of ectopic pregnancy. In 2017, nearly two-fifth of revenues procured in the global emergency contraceptive pills market will be contributed by global sales of combination pills.
On the contrary, use of estrogen pills for emergency contraception will lose traction. Over the forecast period, estrogen pills as a product in the global emergency contraceptive pills market will exhibit revenue growth at just 1.5% CAGR.
Demand for progesterone pills is also expected to drop, particularly owing to their side effects which include joint pain, hot flashes, and diarrhea.
Online Traders will reflect low sales growth
Key findings from the report indicate drug stores and hospital pharmacies as the two largest sales channels for emergency contraceptive pills. In 2017, sales of emergency contraceptive pills through these channels is expected to account for collective global revenue share of nearly 70%.
Online sales of emergency contraceptive pills will incur a considerable decline, and procure not more than US$ 160 Mn in global revenues by the end of 2022.
The report also identifies North America as the largest market for emergency contraceptive pills. The International Consortium for Emergency Contraception is based in the US and serves the mission of expanding access to safe and appropriate use of emergency contraception products.
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Key geographies evaluated in this report are:
North America – U.S, Canada
Europe – France, Germany, Italy, Spain, and the UK, Eastern Europe, CIS
APAC – China, India, Japan, Australia, Others
Latin America – Argentina, Brazil, Others
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