The global contraceptive sponges market was valued at almost USD 62 billion in 2016 and is expected to surpass USD 69 billion by 2021, says Technavio.
Technavio has announced its latest market research report on the global contraceptive sponges market to its health and wellness portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Mayer Laboratories and Tree of Life Pharma.
According to Amber Chourasia, a lead analyst for health and wellness research at Technavio, “The increasing efforts by the governments and social media to promote voluntary family planning will lead to the growth of contraceptive sponges market. The rising marketing programs and public health campaigns worldwide for the contraceptive usage and health awareness will boost the demand for these products.”
The consumers in various developed countries are using this method of contraception for healthy spacing, timing, and limiting of births to achieve their desired family size. These products are also helpful in preventing pregnancy-related health risks in women, unsafe abortions, and adolescent pregnancies and slowing population growth. The government initiatives to promote family planning in emerging nations will contribute to the growth market over the next four years.
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Growing rate of STDs
The prevalence of STDs among the young population aged between 15-24 years is increasing the demand for these sponges in the global market. STDs such as chlamydia or human papillomavirus (HPV) is very common, and cervical ectopy increases the susceptibility to infections or STDs among the younger population. The initiatives to undertaken by government bodies and NGOs to increase awareness of contraceptives to eradicate STD will boost the demand for contraceptive sponges products in the global market.
Rise of public health campaigns and social marketing programs
The rise in marketing programs and public health campaigns advocating for contraceptive usage and raising health awareness will drive the growth in the market during the forecast period. The vendors are using social media marketing to increase sales and maximize profits and as a promotional platform for educating and generating awareness about these products. These promotional ideas will encourage consumers to increase the consumption and ensure prevention of various STDs and other risks of pregnancy-related diseases.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Contraceptive Sponges Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Female Contraceptive Market 2016-2020
- Global Sexual Wellness Market 2016-2020
- Global Emergency Contraceptive Pills Market 2016-2020
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