The global contraceptive sponge market is projected to grow at a CAGR of 2.5% during the forecast period (2019-2024).
The market is mainly driven by the growing rate of unwanted pregnancies. Also, the favorable government regulatory bodies, such as Cervical Barrier Advancement Society (CBAS), Center for Young Women’s Health (CYWH), National Institutes of Health (NIH) aims to educate teenagers with the methods of cervical barrier methods to reduce the spread of STIs, including HIV and AIDS and prevent unwanted pregnancy, which therefore results into the market growth.
The major challenge of the market is the inability of the contraceptive sponges to prevent sexually transmitted diseases such as HIV and AIDS and the presence of a large number of competing products such as condoms and pills which are more effective in prevention of pregnancy.
Key Market Trends
Use of contraceptive sponges to avoid unwanted pregnancies
Although other competing products such as condoms and pills are more popular among the consumers, contraceptive sponges are increasing its traction in the near future. Also, there has been an increased teen pregnancy in the past few years. Centers for Disease Control and Prevention (CDC) in 2017 estimated about 194,377 babies were born to women aged 15-19 years and existed a birth rate of 18.8 per 1,000 women in this age group. Therefore, favorable regulatory bodies spreading knowledge regarding the use of contraceptives to avoid unnecessary births have boosted the market growth to have a healthy country.
North America to drive the market
Asia-Pacific is dominating the market owing to the greater awareness through social media marketing and the rising number of government initiatives that help in increasing the overall market. Also, with the increasing internet penetration, online market for the purchase of consumer goods including contraceptive sponge has seen a rapid growth globally in last 3-4 years. This category has attracted a few vertical specialists like Amazon, Walmart, Carrefour etc. who are riding on increasing e-retailing growth and vying for a significant pie in online consumer goods space.
Competitive Landscape
The global market for contraceptive sponges is consolidated, owing to the presence of very few numbers of regional and domestic players worldwide. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Few of the major players in the market include Mayer Laboratories Inc., Tree of Life Pharma Ltd. and Innothera.
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This product will be delivered within 2 business days.
The market is mainly driven by the growing rate of unwanted pregnancies. Also, the favorable government regulatory bodies, such as Cervical Barrier Advancement Society (CBAS), Center for Young Women’s Health (CYWH), National Institutes of Health (NIH) aims to educate teenagers with the methods of cervical barrier methods to reduce the spread of STIs, including HIV and AIDS and prevent unwanted pregnancy, which therefore results into the market growth.
The major challenge of the market is the inability of the contraceptive sponges to prevent sexually transmitted diseases such as HIV and AIDS and the presence of a large number of competing products such as condoms and pills which are more effective in prevention of pregnancy.
Key Market Trends
Use of contraceptive sponges to avoid unwanted pregnancies
Although other competing products such as condoms and pills are more popular among the consumers, contraceptive sponges are increasing its traction in the near future. Also, there has been an increased teen pregnancy in the past few years. Centers for Disease Control and Prevention (CDC) in 2017 estimated about 194,377 babies were born to women aged 15-19 years and existed a birth rate of 18.8 per 1,000 women in this age group. Therefore, favorable regulatory bodies spreading knowledge regarding the use of contraceptives to avoid unnecessary births have boosted the market growth to have a healthy country.
North America to drive the market
Asia-Pacific is dominating the market owing to the greater awareness through social media marketing and the rising number of government initiatives that help in increasing the overall market. Also, with the increasing internet penetration, online market for the purchase of consumer goods including contraceptive sponge has seen a rapid growth globally in last 3-4 years. This category has attracted a few vertical specialists like Amazon, Walmart, Carrefour etc. who are riding on increasing e-retailing growth and vying for a significant pie in online consumer goods space.
Competitive Landscape
The global market for contraceptive sponges is consolidated, owing to the presence of very few numbers of regional and domestic players worldwide. Emphasis is given on the merger, expansion, acquisition, and partnership of the companies along with new product development as strategic approaches adopted by the leading companies to boost their brand presence among consumers. Few of the major players in the market include Mayer Laboratories Inc., Tree of Life Pharma Ltd. and Innothera.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Mayer Laboratories, Inc.
- Tree of Life Pharma Ltd.
- Innothera
Methodology
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