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Technavio’s market research analyst predicts the global contraceptive sponges market to grow moderately over the predicted period, registering a growth rate of over 2%. Owing to the growing attention towards adolescent fertility, the use of contraceptives is gaining momentum. Several healthcare providers are imparting education about contraceptive alternatives, their pros and cons, availability, accuracy, and costs to enable them to choose the best contraceptive method based on their lifestyle, desired family size, desire for children, and intended timing for pregnancy. Vendors in the market are also ensuring timely availability and anonymous packaging of products, thereby leading to a high demand for contraceptive sponges in the market. At present, there are only a few approved products available in the market for consumers using contraceptive sponges. Such existing unmet need is attracting several big companies worldwide to make R&D investments to develop new solutions. The development and regulatory approval of contraceptive products from various recognized bodies will also reduce the entry of low-quality products in the market.
Currently, the market is witnessing a huge surge in online marketing programs and public health campaigns encouraging for contraceptive usage and raising health awareness, resulting in decreased number of unintended pregnancies. PSI's social marketing programs is a growing marketing and promotional platform, which offers creative, effective, and successful ideas to offer reproductive health products and services worldwide, specifically in developing countries. The growing inclination of educated young adults toward social networking sites has prompted vendors to invest more in these platforms to target young adults.
The global contraceptive sponges market is characterized by a limited number of players that are privately owned, and operate and deal in different segments. While sponges are widely available across various pharmacies, drugstores, and general merchandise stores, vendors are also making their brands available on their websites and other e-commerce sites to increase their sales. To sustain their market position, the major players in the birth control sponge market are consistently increasing their footprint in the market, based on features such as quality, pricing, and market reach and are focusing on product differentiation. Vendors in the market are also offering products across various price ranges, catering to both the premium and low-end segments.
Leading vendors in the market are -
Other prominent vendors in the contraceptive sponges market include Innotech International and Pirri Pharma.
By 2021, online stores will be the fastest-growing segment owing to the presence of vendors on e-commerce platforms and their web pages. As these products are easily available online, the birth control sponge market will witness the rising consumption pattern of these products through online stores. Also, online stores offer benefits of private chats and discussions about the products, which makes women prefer this distribution format.
APAC is expected to be the fastest-growing segment during the forecast period in terms of market share due to the increasing consumption pattern of contraceptive sponges. Factors such as government initiatives to spread health awareness regarding family planning and easy availability of these products will lead to the further growth of the birth control sponge market in the coming years. Moreover, the growing promotions through social networking sites have propelled consumer education about these products, leading to more spending on contraceptive measures.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by distribution channel
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
PART 15: Explore Technavio
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