Vaginal Rings Market is Projected to Grow at A CAGR of 3.5% During, 2020-2026

ABOUT THIS REPORT

OVERVIEW

Vaginal Rings Market was valued at $1,746.4 million by 2019; growing at a CAGR of 3.5% till 2026.

In terms of volume, the vaginal ring’s market was valued at 4,318.3 K Units in 2019; witnessing a CAGR of 2.1% from 2020 to 2026.

The vaginal ring is a flexible, small, plastic ring, which is inserted in the vagina to prevent pregnancy. The vaginal ring prevents pregnancy by continuously releasing hormones estrogen and progestin. The vaginal ring thickens the cervical mucus, which makes it difficult for sperm to move through the cervix and reduce the lining of the womb so that fertilized egg does not implant itself.

Rising prevalence of menopausal and polycystic ovary syndrome (PCOS) is a key driving factor of the market. According to the World Health Organization (WHO), The average age of menopause is 51 years, but menopause can occur earlier. Around 1.2 billion women worldwide are expected to have menopausal or postmenopausal by the year 2030. Approximately 85% of postmenopausal women have experienced menopause-related symptoms in their lifetime. About 75% of women suffer from hot flashes during menopause. According to the Society of Obstetricians and Gynecologists of Canada, 80% of women suffer from menopausal symptoms including irritability, interrupted sleep, hot flushes mood swings, or vaginal dryness. According to the Centers for Disease Control and Prevention, polycystic ovary syndrome (PCOS) is one of the common causes of female infertility, affecting 6% to 12% of US women of reproductive age, which is 5 million women. The vaginal hormone ring helps to lower the hormone levels in girls with polycystic ovary syndrome (PCOS). The vaginal ring releases estrogen to help relieve moderate to severe symptoms of postmenopausal vaginal.

Nuvaring, Femring, and Estring is the type segment of the market scope. By sales channels, the market is divided into Hospitals and Clinics, Pharmacy, and Online Pharmacy. The report covers the value of the global market by type and sales channels.

Nuvaring was dominating the global vaginal rings market in 2019, owing to a partnership between companies for license and commercialization agreement to develop and market a generic version of NuvaRing product, and increasing approval of the generic version of NuvaRing.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global vaginal rings value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the global vaginal rings market in 2019, due to the rising prevalence of menopausal and polycystic ovary syndrome (PCOS), the partnership between companies to develop and market vaginal rings, and commercialization of regulatory approved virginal rings.

Major players operating in the vaginal rings industry include Millicent Pharma, Merck & Co., Inc., Pfizer Inc., TherapeuticsMD, Inc., Amneal Pharmaceuticals, Inc., and Johnson & Johnson.

Commercialization of regulatory approved virginal rings, increasing clinical studies on vaginal rings, and partnership between companies to develop and market vaginal rings are some of the strategies adopted by the major companies.