Global Vaginal Ring Market Size By Type (Estring, Femring, NuvaRing), By Application (Hospitals, Clinics, Retail Pharmacies), By Geographic Scope And Forecast

Vaginal Ring Market Size And Forecast

Vaginal Ring Market size is valued at USD 2,116.54 Million in the year 2021 and it is expected to reach USD 3,450.43 Million in 2030 at a CAGR of 5.58% over the forecast period of 2023 to 2030.

Consumers’ progressive attitude towards contraception has contributed significantly to the Vaginal Ring Market growth, though factors including the availability of alternative methods of contraception may impede the market growth. The Global Vaginal Ring Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Vaginal Ring Market Definition

A vaginal ring (NuvaRing) is a small soft plastic ring that can be inserted into the vagina. To prevent pregnancy, it continuously releases estrogen and progestogen into the bloodstream. A vaginal ring is a type of contraception that can also help women manage their menstrual cycles. It produces the same hormones that the contraceptive pill does. To prevent pregnancy, a soft plastic ring is inserted into the vagina. The ring releases estrogen and progestogen hormones, which are absorbed through the vaginal walls. These are the same hormones that are found in the combined oral contraceptive pill but at a lower concentration.

When compared to oral contraceptives, the main advantages of contraceptive vaginal rings are their effectiveness, ease of use, user control, nearly constant release rate allowing for lower hormone doses, greater bioavailability, and good cycle control. On the market, there are two types of contraceptive vaginal rings. Nuvaring, which is a 3-month progesterone-only ring for use during breastfeeding, and Progering. Both rings are costly, necessitate refrigeration, and are not widely available in low- and middle-income countries (LMICs). As a result, lowering the cost and increasing the availability of contraceptive vaginal rings is critical, as is the development of those with longer durations that do not require refrigeration, which would increase contraceptive options for women worldwide.

Global Vaginal Ring Market Overview

Consumers’ progressive attitude towards contraception is one of the key drivers supporting the growth of the market. Female contraceptives, such as vaginal rings, are becoming more popular and socially acceptable as attitudes towards premarital sex shift. Acceptance of these products is expected to increase across all age groups as a result of increased awareness and availability. Vaginal rings are a low-cost alternative to contraception for today’s 18-25-year-olds who want to improve their sexual experience.

The appearance of these rings has piqued the interest of users and reassured the general population to accept female contraception as a health-enhancing product and a reliable product to prevent pregnancy, which will have a positive impact on the market during the forecast period. One of the key Vaginal Ring Market trends driving market growth is high disposable income. Higher disposable incomes in Pacific Rim countries such as Malaysia, Indonesia, and Vietnam are projected to fuel market growth in the coming years. The proportion of working women has also increased significantly. In the United States in 2021, more than half of women worked, and 70% of women with children under the age of 18 worked.

As a result, there is a financial boost in overall household income, allowing consumers to purchase both necessities and luxury items. therefore, vendors of female contraceptives such as vaginal rings are going to benefit more from rising disposable income, leading to these products being sold in retail stores such as Walmart and Walgreens, as well as on e-commerce websites such as Amazon. This ease of access is propelling the market growth. However, one of the factors impeding the growth of the Vaginal Ring Market is the availability of alternative methods of contraception. Female condoms are also recommended for family planning by a number of non-governmental and governmental organizations.

The benefits of female contraception, such as delaying pregnancy, increasing the age difference between siblings, and achieving desired family sizes, are becoming more widely known. The availability of these contraceptives gives users a variety of options. Convenience is reflected in the prices of these products, which are available on the market in a variety of price ranges, allowing users to select a contraception method based on their purchasing power. Furthermore, fewer side effects and the ability to use these products for longer periods of time than vaginal rings may lead to an increase in the use of alternative contraceptives. During the forecast period, these factors will impede the growth of the Global Vaginal Ring Market.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Vaginal Ring Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. The porter’s five forces model can be used to assess the competitive landscape in Global Vaginal Ring Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Global Vaginal Ring Market Segmentation Analysis

The Global Vaginal Ring Market is Segmented on the Basis of Type, Application, And Geography.

Vaginal Ring Market, By Type

• Estring
• Femring
• NuvaRing
• Other

Based on Type, the market is segmented into Estring, Femring, NuvaRing, and Other. The NuvaRing is a trademark for a particular type of vaginal ring. It is a flexible plastic ring that, when inserted into the vagina near the cervix, releases estrogen and progesterone.

Vaginal Ring Market, By Application

• Hospital
• Clinic
• Retail Pharmacies
• Online Pharmacies

Based on Application, the market is segmented into Hospitals, clinics, Retail Pharmacies, and Online Pharmacies. The segment of pharmacies and clinics will gain a sizable share of the Vaginal Ring Market. Online retail is another area where vendors can expect significant growth. The Internet has decreased the amount of time required to buy and sell products and services in brick-and-mortar stores. The availability of a diverse range of products, prompt delivery services, and competitive pricing are all factors that contribute to the success of online retail.

Vaginal Ring Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the Basis of Geography, the Global Vaginal Ring Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America will have the largest market share. The two most important Vaginal Ring Markets in North America are the United States and Canada. Over the forecast period, the Vaginal Ring Market in North America will grow due to increased contraceptive awareness and rising acceptance of new products.

Key Players

The “Global Vaginal Ring Market” study report will provide valuable insight with an emphasis on the global market including some of the major players of the industry are The Female Health Company, Allergan, Merck & Co., Inc., Pfizer Inc., Novo Nordisk A/S, Bayer AG, Teva Pharmaceutical Industries Ltd., Endo International plc, Johnson & Johnson, Reckitt Benckiser Group plc, Mylan N.V., AstraZeneca plc, TherapeuticsMD, Inc., HRA Pharma, Agile Therapeutics among others.

Our market analysis offers detailed information on major players wherein our analysts provide insight into the financial statements of all the major players, product portfolio, product benchmarking, and SWOT analysis. The competitive landscape section also includes market share analysis, key development strategies, recent developments, and market ranking analysis of the above-mentioned players globally.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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