Enjoy complimentary customisation on priority with our Enterprise License!
The global vaginal ring market size is estimated to grow by USD 748.36 million at a CAGR of 5.78% between 2023 and 2028.
Non-contraceptive health benefits is the key factor driving market growth. Contraceptives like vaginal rings are primarily used to prevent pregnancy and are known to be effective. Hormones in vaginal rings offer health benefits like protection against acne, non-cancerous breast growths, ectopic pregnancy, iron deficiency, anemia, endometrial and ovarian cancers, ovarian cysts, premenstrual syndrome (PMS) symptoms, pelvic inflammatory disease, and menstrual-related migraine headaches. The ring eases premenstrual symptoms and makes the period lighter, shorter, and regular. Hence, various non-contraceptive health benefits of vaginal rings will increase their demand for vaginal rings and drive market growth during the forecast period.
Technavio has segmented the market into Distribution Channel, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
To learn more about this report, Download Report Sample
The market share growth by the pharmacies and clinics segment will be significant during the forecast period. Healthcare professionals, such as gynecologists and family physicians, play a crucial role in the distribution process. They can assess an individual's health history, provide personalized advice, and prescribe the most suitable contraceptive method, including vaginal rings. Several retail pharmacies and hospital pharmacies are located globally. Furthermore, vaginal rings are typically prescription-based contraceptives. Requiring a prescription ensures that individuals receive appropriate medical guidance, reducing the risk of misuse or adverse effects.
Get a glance at the market contribution of various segments Download PDF Sample
The pharmacies and clinics segment was valued at USD 1,412.14 million in 2018. Many health insurance plans cover prescription contraceptives, including vaginal rings. This coverage can reduce the financial burden on individuals, making the method more accessible and affordable. Thus, these factors will promote the growth of the pharmacies and clinics segment and boost the global vaginal ring market during the forecast period.
Vaginal rings could be considered as part of postpartum family planning discussions, providing a convenient and effective contraceptive option. Hospitals often have the resources to provide immediate access to contraceptives for individuals who may not have been using a contraceptive method or need a new method after giving birth. Furthermore, hospitals often have counseling services, and healthcare providers can use this opportunity to counsel patients on reproductive health, including contraceptive choices like vaginal rings. This counseling may address individual preferences, side effects, and proper usage. Thus, such factors will drive the growth of the hospitals segment and boost the global vaginal ring market during the forecast period.
Healthcare providers in gynecology clinics may prescribe vaginal rings as part of the treatment plan for conditions such as heavy menstrual bleeding or menstrual disorders. The hormonal components in the ring can help regulate and manage menstrual symptoms. Gynecology clinics provide opportunities for patient education and counseling. Furthermore, gynecology clinics focus on personalized care, and healthcare providers can help women choose contraceptive methods that align with their individual needs, preferences, and health goals. Thus, these factors will drive the growth of the gynecology segment and boost the market in focus during the forecast period.
For more insights about the market share of various regions Download PDF Sample now!
North America is estimated to contribute 59% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The North American vaginal ring market is experiencing substantial growth, driven by increasing awareness and product availability, aligning with prevalent market trends and analysis. Educational initiatives on contraceptive methods, including vaginal rings, are fostering adoption among women. Robust public health campaigns promoting family planning and reproductive health contribute to the rising demand for convenient contraceptives. With North America's significant healthcare expenditure, investments in research, development, and marketing strategies for vaginal ring products are driving market trends.
Furthermore, market trends and analysis indicate a strong correlation between high contraceptive awareness, product acceptance, and efficient supply chain management by manufacturers like Pfizer Inc. and Merck & Co. In this landscape, market forecasting anticipates sustained growth. Leading nations, Canada and the US are at the forefront due to heightened awareness and innovative product introductions, positioning the region for continued market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 16 market companies, including:
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.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
The growing importance of family planning is the key factor driving market growth. Across the globe, voluntary family planning is gaining traction through the combined efforts of social media and government initiatives, reflecting a promising avenue for market growth and forecasting. Organizations such as the Asia Pacific Council on Contraception, the European Society of Cardiology, and the International Planned Parenthood Federation are actively running programs to raise global awareness about contraceptive drugs and devices. In developing countries, the demand for contraceptives like vaginal rings faces challenges due to reduced awareness and affordability.
However, government initiatives on family planning and improved access to contraceptives, including vaginal rings, are reshaping the landscape. This has resulted in increased popularity among women in developing countries, aiming to mitigate pregnancy-related health risks, unsafe abortions, and adolescent pregnancies. As awareness and the importance of family planning continue to rise, there is a positive correlation with the anticipated market growth and forecasting in the global vaginal ring market during the forecast period.
An increase in innovative marketing strategies is one of the market trends shaping market growth. Companies in the healthcare sector are increasingly leveraging digital marketing strategies. This includes maintaining a strong online presence through websites, social media platforms, and targeted online advertising. Digital channels provide opportunities to reach a broader audience and engage with potential users. Campaigns focused on specific demographics like teenagers, women in rural areas, or those with limited access to healthcare, addressing their unique needs and concerns.
Furthermore, informative content through various channels, including websites, brochures, and online webinars, can help raise awareness about the benefits, usage, and safety of vaginal rings. Innovative packaging and branding can contribute to product differentiation. User-friendly and discreet packaging designs may enhance the appeal of the product to consumers. Clear and informative branding helps to establish trust in the market. Hence, the increase in innovative marketing strategies will drive the growth of the global vaginal ring market during the forecast period.
The availability of alternative methods of contraception is a challenge that affects market growth. Awareness and availability of various methods of contraception provide a significant alternative to the vaginal ring market. For example, Copper-T implants, sponges, surgical sterilization, oral contraception, and IUDs are suitable alternatives for vaginal rings. 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 to increase the age difference between siblings and achieve desired family sizes, is increasing.
In addition, the choice of convenience is reflected in the costs of these products as they are offered in the market in 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. Thus, such factors will impede market growth during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Vaginal Ring Market Customer Landscape
The vaginal ring market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of market growth and trends from 2018 to 2028.
Vaginal Ring Market Scope |
|
Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.78% |
Market Growth 2024-2028 |
USD 748.36 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.25 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 59% |
Key countries |
US, Canada, Germany, UK, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AbbVie Inc., Allergan, Bayer AG, Bos Medicare Surgical, EUROGINE SL, Johnson and Johnson, Mayne Pharma Group Ltd., Merck and Co. Inc., Mithra Pharmaceuticals SA, Novo Nordisk AS, Pfizer Inc., Prasco Laboratories, QPharma Inc., Searchlight Pharma Inc., SMB Corp. of India, Teva Pharmaceutical Industries Ltd., and TherapeuticsMD Inc. |
Market dynamics |
Parent market analysis, market research and growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market growth analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Download Sample PDF at your Fingertips
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.