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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.
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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.
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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.
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
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