Vaginal Ring Market by Distribution Channel and Geography - Forecast and Analysis 2022-2026

The vaginal ring market share is expected to increase by USD 519.39 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.44%.

This vaginal ring market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers vaginal ring market segmentations by distribution channel (pharmacies and clinics and online retail) and geography (North America, Europe, Asia, and Rest of World (ROW)). The vaginal ring market report also offers information on several market vendors, including AbbVie Inc., Bayer AG, Johnson and Johnson, Merck and Co. Inc., Novo Nordisk AS, Pfizer Inc., Prasco Laboratories, QPharma Inc., SMB Corp. of India, and TherapeuticsMD Inc. among others.

What will the Vaginal Ring Market Size be During the Forecast Period?

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Vaginal Ring Market: Key Drivers, Trends, and Challenges

The progressive perspective of consumers toward contraceptives is notably driving the vaginal ring market growth, although factors such as the availability of alternative methods of contraception may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the vaginal ring industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Vaginal Ring Market Driver

The progressive perspective of consumers toward contraceptives is one of the key drivers supporting the vaginal ring market growth. An increasingly progressive outlook on premarital sex encourages the adoption of female contraceptives such as vaginal rings, thereby increasing its popularity and making it socially acceptable. The acceptance of these products is expected to grow among all age groups due to the increase in awareness and availability. The current generation aged 18-25 years is seeking ways to enhance its sexual experience, and one of the cost-effective alternatives to contraceptives is vaginal rings. The emergence of these rings has made users curious and has reassured the general population to accept female contraceptives as a health enhancement product and as a reliable product to prevent pregnancy, which will create a positive impact on the market during the forecast period. 

Key Vaginal Ring Market Trend

High disposable income is one of the key vaginal ring market trends that is contributing to the market growth. Higher disposable incomes in Pacific Rim countries such as Malaysia, Indonesia, and Vietnam are expected to drive market growth even further. The number of working women has also increased considerably. In 2021, in the US, more than 50% of the women were working, and 70% of women with children under age 18 participated in the labor force. As a result, this is creating a financial boost in the overall household income that enables consumers to buy necessities as well as luxury products. As a result, the vendors of female contraceptives such as vaginal rings will increasingly be benefited from the increasing disposable income, which in turn has resulted in vendors providing these products at retail stores such as Walmart and Walgreens, and through e-commerce websites such as Amazon. Such easy availability is propelling the market growth.

Key Vaginal Ring Market Challenge

The availability of alternative methods of contraception is one of the factors hindering the vaginal ring market growth. Female condoms are also endorsed by various non-governmental and governmental organizations for family planning. Awareness about the benefits of female contraceptives like delaying pregnancy increasing the age difference between siblings and achieving desired family sizes is increasing. The availability of these contraceptives provides users with several choices. The choice of convenience is reflected in the costs of these products as they are offered in the market at various price brackets giving the users the right to choose a contraception method based on their buying power. Moreover, fewer side effects and the flexibility of using these products for longer periods when compared with vaginal rings may lead to an increase in the adoption of alternative contraceptives. These factors will hinder the growth of the global vaginal ring market during the forecast period.

This vaginal ring market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global vaginal ring market as a part of the global healthcare supplies market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the vaginal ring market during the forecast period.

Who are the Major Vaginal Ring Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• AbbVie Inc.
• Bayer AG
• Johnson and Johnson
• Merck and Co. Inc.
• Novo Nordisk AS
• Pfizer Inc.
• Prasco Laboratories
• QPharma Inc.
• SMB Corp. of India
• TherapeuticsMD Inc.

This statistical study of the vaginal ring market encompasses successful business strategies deployed by the key vendors. The vaginal ring market is concentrated and the vendors are deploying growth strategies such as innovative marketing strategies, customer engagement through digital and social media platforms, and promotion of brands through awareness campaigns to compete in the market.

Product Insights and News

• AbbVie Inc. - Under the unified segment, the company conducts research and development, manufacturing, commercialization and sale of innovative medicines and therapies to allocate resources and assess business performance on a global basis in order to achieve established long-term strategic goals. 
• AbbVie Inc. - The company offers vaginal rings such as Femring which is used as a treatment of moderate to severe vulvar and vaginal atrophy due to menopause. 

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The vaginal ring market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Vaginal Ring Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the vaginal ring market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Vaginal Ring Market?

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53% of the market's growth will originate from North America during the forecast period. The US and Canada are the key markets for the vaginal ring market in North America. Market growth in this region will be slower than the growth of the market in other regions.

High awareness about contraceptives and the rising acceptance of new products will facilitate the vaginal ring market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic wreaked havoc in most North American countries, which resulted in the temporary closure of various industries, including those manufacturing vaginal rings. However, online sales increased in 2021, and the demand for these products rebounded in retail stores as regional activities reopened due to the COVID-19 vaccination drives. These factors will drive the growth of the regional vaginal ring market during the forecast period.

What are the Revenue-generating Distribution Channel Segments in the Vaginal Ring Market?

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The vaginal ring market share growth by the pharmacies and clinics segment will be significant during the forecast period. Another segment offering significant growth opportunities to vendors is online retail. The emergence of the internet has reduced the time involved to buy and sell products and services when compared with buying and selling products and services from brick-and-mortar stores. The success of online retail can be attributed to factors such as the availability of a broad range of products, quick delivery services, and competitive prices. Online sales channels increased product penetration in developing markets. Such initiatives will propel the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the vaginal ring market size and actionable market insights on post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Vaginal Ring Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive vaginal ring market growth during the next five years
• Precise estimation of the vaginal ring market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the vaginal ring industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of vaginal ring market vendors

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