A key factor driving the growth of the market is the changing perspective of consumers towards contraceptives. Due to several religious beliefs, the products offered in the market are considered taboo in many parts of the world. However, with the rise in number of people accepting the use of female contraceptives, this viewpoint has evolved. An increasingly progressive outlook towards premarital sex encourages the adoption of female contraceptives such as vaginal rings, thereby increasing its popularity and making it socially acceptable. The use of these products is expected to grow among all age groups due to rising awareness and availability.
This market research report on the global vaginal ring market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the high disposable income as one of the key emerging trends in the global vaginal ring market:
Global vaginal ring market: High disposable income
The affordability of high range products has increased in developing countries. Higher disposable incomes in Pacific Rim countries such as Malaysia, Indonesia, and Vietnam are expected to further drive the market growth. With the rise in number of working women, the overall household income increases thus enabling consumers to buy necessities as well as luxury products. As a result, the vendors of contraceptives such as vaginal rings will be increasingly benefitted from the rising disposable income, which has resulted into vendors providing these products in retail stores such as Walmart and Walgreens.
“Female contraceptives have designated shelf space at pharmacies in the US and have also entered physical retail outlets. Contraceptives like vaginal rings are also provided by e-commerce websites with a varied range of options. These websites are more convenient for consumers than physical stores,” says a senior analyst at Technavio for research on men's health, women's health, and genitourinary.
Global vaginal ring market: Segmentation analysis
This market research report segments the global vaginal ring market by geographical regions (APAC, EMEA, and the Americas). The Americas led the market in 2017 with a market share of more than 40%, followed by EMEA and APAC respectively. The Americas is expected to continue to dominate the market during the forecast period owing to the rise in number of clinics in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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