Global Contraceptive Sponges Market 2017-2021
About Contraceptive Sponges
Contraceptive sponges are soft foam sponges with or without spermicide. These sponges are placed inside the vagina to cover the cervix, before intercourse. They absorb and disable sperm for up to 12 hours. The spermicide in the sponge helps in preventing the sperm from moving. Contraceptive sponges are an integral part of the female contraceptive market and hold a minor share in the market. and helps in preventing the sperm from entering the uterus.
Technavio’s analysts forecast the global contraceptive sponges market to grow at a CAGR of 2.36% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global contraceptive sponges market for 2017-2021. To calculate the market size, the report considers the revenue generated through retail sales from retail outlets and online stores.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Metallic Pigments Market 2017-2021
Technavio recognizes the following companies as the key players in the global metallic pigments market: Mayer Laboratories and Tree of Life Pharma.
Other Prominent Vendors in the market are: Innotech International and Pirri Pharma.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is rise of public health campaigns and social marketing programs. In the last few years, there has been a rise in marketing programs and public health campaigns advocating for contraceptive usage and raising health awareness. These initiatives have decreased the risk of unintended pregnancies. An increase in the number of social network users worldwide is encouraging vendors and marketers to invest in social media marketing to increase sales and maximize profits. PSI's social marketing programs is a growing marketing and promotional platform for educating and creating awareness about products. It offers creative, effective, and successful ideas to provide reproductive health products and services globally, particularly in developing countries. Educated young adults are inquisitive toward social networking sites, and vendors are likely to invest more in these platforms to target young adults, thus creating a high demand in the market. Vendors are increasingly expanding their business to developing countries like India and China. This can be reflected by the fact that many contraceptives are now registered and widely available across the globe.”
According to the report, one driver in market is rise in importance of family planning. Voluntary family planning has been widely adopted worldwide through the efforts of the governments and social media. In the last few years, there has been a rise in the marketing programs and public health campaigns worldwide for the contraceptive usage and health awareness. Organizations such as The European Society of Contraception and Reproductive Health, Asia Pacific Council on Contraception, International Planned Parenthood Federation are organizing programs to spread the awareness of contraceptive devices worldwide. More than half of all couples in the developed countries are using a method of contraception for healthy spacing, timing, and limiting of births to achieve their desired family size. However, in developing countries, there is a huge unmet need for contraception.
Further, the report states that one challenge in market is lack of social acceptance. The use of contraceptive products has become acceptable in the society; however, a portion of the society still views their usage as a taboo due to the stereotyping of them being vulgar. The perception of the society often dissuades people from buying these products, mostly due to religious backgrounds that consider it immoral and unethical to use contraceptives. A large population in conservative countries perceives contraception as against their religious sentiments. It is difficult to change the stringent principles, morals, and culture biases, thereby limiting the adoption of contraceptives. However, various government and vendor initiatives aim to increase the awareness of these contraceptive to change the way of thinking in these countries. In the law few years, the emergence of e-commerce has helped overcome this hurdle to a large extent by creating an anonymity of the buyer; however, the perception of the society largely remains the same and poses a major challenge to the growth of the market. This will significantly hamper the sales of contraceptive sponges due to the negative image of the products.
Mayer Laboratories Tree of Life Pharma, Innotech International Pirri Pharma.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook