Contraceptive Sponges Market Analysis 2018-2025 Explored in Latest Research
The global contraceptive sponges market was USD 27.96 million in 2018 and is estimated to reach USD 33 million by 2025 at a CAGR of 2.40% during the forecast period
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Growth by Region
North America leads the market with over 50% market share in 2018 owing to the rising awareness as well as high disposable income among people. Europe, on the other hand, is the second largest market due to the large presence of women increasingly using contraceptives to avoid pregnancies. Asia-Pacific region is also considered to be one of the lucrative markets for contraceptive sponges market globally bolstered by increasing government programs regarding family planning due to high population. Countries in South America, Middle-East and Africa also show an upsurge in growth during the projected timeframe owing to the increasing awareness through social media marketing thus serving as an impetus for retail and online stores to gain brand visibility in the region.
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Drivers vs Constraints
The global contraceptive sponges market is mainly driven by the increasing importance of family planning as well as rising awareness among women regarding the benefits of contraceptive sponges. However, the growth hindered by the inability of these birth control sponges to prevent sexually transmitted disease (STDs) and also due to the contraceptive sponges being not as effective as condoms.
Industry Trends and Updates
Mayor Laboratories, Inc., a US-based company which manufactures and sells healthcare and reproductive products has entered into an agreement with Blossom Organics, Inc. for the exclusive distribution of the company's naturally pure intimate care products to all retail, wholesale and governmental channels in United States, Europe and Canada.
Pirri Pharma Canada, Inc., a Canadian-based company which manufactures and sells healthcare and reproductive products has entered into an exclusive five-year supply agreement with Keata Pharma Inc. which is PharmaEng International Inc's., wholly-owned contract manufacturing subsidiary to provide commercial manufacturing and labelling of product Protectaid.
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