Vaginal Rings Market By Type (Nuvaring, Femring, and Estring), By Sales Channel (Hospitals and Clinics, Pharmacy, and Online Pharmacy), Industry Trends, Estimation & Forecast, 2023-2030

Market Definition

The vaginal ring is a flexible, small, plastic ring, which is inserted in the vagina to prevent pregnancy. Vaginal ring prevents pregnancy by continuously releasing hormones estrogen and progestin. 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.

Vaginal Rings market was valued at 1932.9 million US$ in 2022 and is projected to reach 2791.2 million US$ by 2030, at a CAGR of 4.7% during the forecast period.

Market Dynamics

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 symptom 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 symptom 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. 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. However, side effects associated with vaginal ring might hamper the market growth. Vaginal rings are well-tolerated, but in some cases, it shows certain side effects including vaginal infection or irritation, increased vaginal discharge, decreased sex drive, breakthrough bleeding or spotting, abdominal pain, headache, depression, nausea, breast tenderness, diarrhea. In some severe cases, vaginal ring increased risk of blood-clotting problems, stroke, heart attack, gallbladder disease liver cancer, and toxic shock syndrome. Moreover, increasing clinical studies on the vaginal ring would provide lucrative opportunities for the market in the coming years.

Market Segmentation

The global vaginal rings market is mainly classified based on type and sales channels. The type segment is further categorized into Nuvaring, Femring, and Estring. By sales channels, the market is divided into Hospitals & Clinics, Pharmacy, and Online Pharmacy.

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. For instance, The Food and Drug Administration (FDA) has approved EluRyng (etonogestrel/Ethinyl estradiol vaginal ring), the first generic version of NuvaRing, used by females of reproductive age to prevent pregnancy. The vaginal ring releases an average of 0.12mg etonogestrel, progestin a day, and 0.015mg of Ethinyl estradiol, estrogen a day. EluRyng lasts for three weeks.

Regional Analysis

Based on geography, the global vaginal rings market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the global vaginal rings market in 2019, owing 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. For instance, The U.S. Food and Drug Administration has approved Annovera. Annovera is a combined hormonal contraceptive for women of reproductive age. Annovera is a reusable, non-biodegradable, flexible vaginal ring that is placed in the vagina for three weeks followed by a one-week break, at which time women may experience a withdrawal bleed. Annovera is used to prevent pregnancy and is the first vaginal ring contraceptive that can be used for an entire year.

Competitive landscape

Key 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. For instance, Prasco has partnered with Merck & Co., Inc. to introduce the authorized generic, version of NuvaRing (etonogestrel/Ethinyl estradiol vaginal ring). Etonogestrel/Ethinyl Estradiol vaginal ring is a small, flexible vaginal ring used by women to prevent pregnancy.

Vaginal Rings Market Key Segments

By Type
• Nuvaring
• Femring
• Estring

By Sales Channel
• Hospitals and Clinics
• Pharmacy
• Online Pharmacy

Key Global Vaginal Rings Industry Players

• Millicent Pharma
• Merck & Co., Inc.
• Pfizer Inc.
• TherapeuticsMD, Inc.
• Amneal Pharmaceuticals, Inc.
• Johnson & Johnson

Table of Content

1. Market Introduction
1.1. Executive Summary
1.2. Market Definition
1.3. Market Scope

2. Research Methodology
2.1. Primary Research
2.2. Research Methodology
2.3. Assumptions & Exclusions
2.4. Secondary data sources

3. Vaginal Rings Market Overview
3.1. Report Segmentation & Scope
3.2. Key Market Trend
3.3. Drivers
3.3.1. Rising Prevalence of Menopausal and Polycystic Ovary Syndrome (PCOS)
3.4. Restraints
3.4.1. Side Effects Associated with Vaginal Ring
3.5. Opportunity
3.5.1. Increasing Clinical Studies on Vaginal Ring
3.6. Porter’s Five Forces Analysis
3.6.1. Porter’s Five Forces Analysis
3.7. Market Share Analysis

4. Type Overview
4.1. Introduction
4.1.1. Market Size & Forecast
4.2. Nuvaring
4.2.1. Market Size & Forecast
4.3. Femring
4.3.1. Market Size & Forecast
4.4. Estring
4.4.1. Market Size & Forecast

5. Sales Channel Overview
5.1. Introduction
5.1.1. Market Size & Forecast
5.2. Hospitals and Clinics
5.2.1. Market Size & Forecast
5.3. Pharmacy
5.3.1. Market Size & Forecast
5.4. Online Pharmacy
5.4.1. Market Size & Forecast

6. Vaginal Rings Market Regional Overview
6.1. Introduction
6.1.1. Market Size & Forecast
6.2. North America Vaginal Rings Market
6.2.1. North America Market Size & Forecast, By Country
6.2.2. North America Market Size & Forecast, By Type
6.2.3. North America Market Size & Forecast, By Sales Channel
6.2.4. U.S.
6.2.4.1. Market Size and Forecast
6.2.5. Canada
6.2.5.1. Market Size and Forecast
6.2.6. Mexico
6.2.6.1. Market Size and Forecast
6.3. Europe Vaginal Rings Market
6.3.1. Europe Market Size & Forecast, By Country
6.3.2. Europe Market Size & Forecast, By Type
6.3.3. Europe Market Size & Forecast, By Sales Channel
6.3.4. Germany
6.3.4.1. Market Size and Forecast
6.3.5. France
6.3.5.1. Market Size and Forecast
6.3.6. UK
6.3.6.1. Market Size and Forecast
6.3.7. Italy
6.3.7.1. Market Size and Forecast
6.3.8. Spain
6.3.8.1. Market Size and Forecast
6.3.9. Rest of Europe
6.3.9.1. Market Size and Forecast
6.4. Asia-Pacific Vaginal Rings Market
6.4.1. Asia-Pacific Market Size & Forecast, By Country
6.4.2. Asia-Pacific Market Size & Forecast, By Type
6.4.3. Asia-Pacific Market Size & Forecast, By Sales Channel
6.4.4. Japan
6.4.4.1. Market Size and Forecast
6.4.5. China
6.4.5.1. Market Size and Forecast
6.4.6. Australia
6.4.6.1. Market Size and Forecast
6.4.7. India
6.4.7.1. Market Size and Forecast
6.4.8. South Korea
6.4.8.1. Market Size and Forecast
6.4.9. Rest of Asia-Pacific
6.4.9.1. Market Size and Forecast
6.5. South America Vaginal Rings Market
6.5.1. South America Market Size & Forecast, By Country
6.5.2. South America Market Size & Forecast, By Type
6.5.3. South America Market Size & Forecast, By Sales Channel
6.5.4. Brazil
6.5.4.1. Market Size and Forecast
6.5.5. Argentina
6.5.5.1. Market Size and Forecast
6.5.6. Rest of South America
6.5.6.1. Market Size and Forecast
6.6. Middle East & Africa Vaginal Rings Market
6.6.1. Middle East & Africa Market Size & Forecast, By Country
6.6.2. Middle East & Africa Market Size & Forecast, By Type
6.6.3. Middle East & Africa Market Size & Forecast, By Sales Channel
6.6.4. GCC Countries
6.6.4.1. Market Size and Forecast
6.6.5. Egypt
6.6.5.1. Market Size and Forecast
6.6.6. South Africa
6.6.6.1. Market Size and Forecast
6.6.7. Rest of Middle East & Africa
6.6.7.1. Market Size and Forecast

7. Company Profile
7.1. Millicent Pharma
7.1.1. Company Basic Information, Manufacturing Base, Sales Area and Its Competitors
7.1.2. Millicent Pharma Product Category, Sales Channel, and Specification
7.1.3. Millicent Pharma Financial Performance (2016-2018)
7.1.4. Main Business/Business Overview
7.2. Merck & Co., Inc.
7.3. Pfizer Inc.
7.4. TherapeuticsMD, Inc.
7.5. Amneal Pharmaceuticals, Inc.
7.6. Johnson & Johnson