LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global topical contraceptive market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Amber Chourasia, a lead analyst from Technavio, specializing in research on the health and wellness sector, says, “The global topical contraceptive market is driven by the rising importance given to family planning and the increase in awareness about topical contraceptives. In addition, increase in government initiatives and marketing campaigns in recent years will further drive the growth of the market.”
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The top three emerging market trends driving the global topical contraceptive market, according to Technavio research analysts, are:
- Increasing awareness through social media marketing
- Rising age of first-time pregnancy
- Increasing investments in women’s health
Increasing awareness through social media marketing
The rise in awareness about modern contraceptives through social media initiatives has decreased the risk of unintended pregnancies. An increase in the number of social network users worldwide is encouraging vendors and marketers to invest on social media marketing to increase their sales and profits. Population Services International (PSI) is a marketing and promotion platform to educate and create awareness about contraceptives. It offers creative, effective, and successful ideas to provide reproductive health products and services globally, particularly in developing countries.
“The increase in social awareness has led to the high demand for contraceptives, thus increasing their shelf space in pharmacies, clinics, hospitals, and other distribution channels,” says Amber.
Rising age of first-time pregnancy
Many women are delaying pregnancies because of various factors, leading to an increase in the rate of pregnancies in older women. Economic pressure, focus on careers, and changes in relationships have led to the postponing of marriage and children. The increased use of contraceptives due to the rise in government investments in sex education programs has resulted in teens using long-acting forms of birth control. As a result, birth rates have declined among women in their 20s but increased among those aged between 30 and 44 years. Thus, an increase in first-time pregnancy age will increase the use of contraceptives such as topical contraceptives for delaying pregnancies, thus benefiting the market.
Increasing investments in women’s health
Various digital health companies are focusing on improving institutional capital to develop a wide range of solutions related to women’s health. For instance, Progyny raised a funding of USD 34 million. The company focuses on transforming scientific discoveries into proprietary clinical solutions, which are intended to improve outcomes.
Entrepreneurs seek to leverage various digital technologies to provide women with many decision-supporting tools and personalized products, which helps in predicting and preventing healthcare conditions and complications. Such developments will also increase awareness about women's health products such as female contraceptives, including contraceptive patches. Also, organizations are ensuring the easy availability of contraceptives in rural areas through various campaigns. Thus, increasing investments in women’s health will benefit the global topical contraceptives market in the coming years.
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