LONDON--(BUSINESS WIRE)--The global female contraceptive market is expected to grow at a CAGR of more than 3% during the period 2018-2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global female contraceptive market by product (female contraceptive devices and female contraceptive drugs). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: increasing adoption of innovative marketing strategies
Vendors have been making substantial investments in advertisements. This is a major factor that is driving the growth of the market. Leading contraceptive brands have increased their marketing expenditure to maintain their leading positions in the market. Many PR activities are conducted to increase the curiosity among women to experiment with female contraceptives such as birth control pills. The other marketing spending involves print advertisements, PR activities, and events that have garnered the attention of college-going students, lovers, and married couples. This is expected to increase the demand for birth control pills among users.
According to a senior analyst at Technavio for health and wellness research, “Vendors can popularize their range of products through extensive marketing. Short-term video advertisements also increase the awareness regarding female contraceptives. They encourage users to have conversations about birth control with doctors, which attracts them toward brands. These initiatives increase the sales of birth control pills that will further drive the growth of the market.”
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Market trend: increase in use of female condoms
There has been an increase in the use of female condoms in the recent past. For instance, in the US, women are experimenting with female condoms. This is increasing the demand for such products in the country. The increase in the number of comprehensive female condom programs such as social marketing strategies to encourage behavior change, capacity building and training, and community outreach can help negotiate condom use and talk about sexuality. The implementation of effective family planning and HIV programs including female condoms to monitor and evaluate the success of programming strategies and increasing support for female condoms among decision makers is further promoting the growth of the market.
Market challenge: irregularities in sex education in developed countries
While the US classifies itself as a sexually liberated country, irregularities in imparting sex education are affecting sexual awareness among teenagers. This is reducing the demand for female contraceptives. If teenagers are not educated properly about the various aspects of sex, their consumption of female contraceptives will be limited. In the US, in multiple states, there is a norm of abstinence-only sex education. This is a form of sex education that promotes and teaches students to not have sex outside marriage.
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