Intrauterine Contraceptive Rings Market: Introduction
- Intrauterine contraceptive rings are soft plastic rings that contain estrogen and progesterone. These rings are inserted into the vagina on the first day of menstrual cycle and stay in place for three weeks in a row and is then removed during the period. A new ring is inserted on the first day of next menstrual cycle.
- Intrauterine contraceptive rings are 99% effective in preventing pregnancy if used correctly. Incorrect use of these rings could lead to 93% effectiveness.
Key Drivers and Opportunities in Global Intrauterine Contraceptive Rings Market
- Focus on research & development by key players is anticipated to boost the growth of the global intrauterine contraceptive rings market. In August 2018, the U.S. Food and Drug Administration approved Annovera, a combined hormonal contraceptive for women to prevent pregnancy. This approval enabled stakeholders to build on available birth control options.
- Rise in rate of unplanned pregnancies also augments the global market. An article published in Beyene Contraception and Reproductive Medicine indicated that an estimated 99.1 million unintended pregnancies are reported globally each year, of these 8.85 million were in Eastern Africa and 21.6 million in Africa.
- Increase in need of population control is expected to fuel the growth of the global intrauterine contraceptive rings market
- Some states recently have launched initiatives to reduce unintended pregnancy by improving access to contraceptives. For instance, Upstream USA collaborated with The Washington Department of Health to provide technical assistance and training to the state’s health care providers.
- The Governor of Virginia announced that the state would use funds from its TANF block grant to award US$ 6 Mn to select health care providers to make LARCs available to women whose incomes are below 250% of the federal poverty level for those who choose them
- Rise in adoption of contraceptive rings owing to effectiveness and safety boosts the growth of the global market
- However, less availability of products in terms of geographical reach are the factors likely hamper the growth of the global intrauterine contraceptive rings market
- Emerging markets in Asia Pacific, Latin America, and Middle East & Africa present lucrative opportunities in the intrauterine contraceptive rings market owing to government investments in developing countries toward modernization of health care infrastructure, which is likely to increase access to health care. This is expected to drive demand for advanced technologies.
North America to Capture Major Share of Global Intrauterine Contraceptive Rings Market
- North America is expected to account for major share of the global intrauterine contraceptive rings market due to early adoption of advanced therapies
- The market in Asia Pacific is likely to grow at a rapid pace during the forecast period owing government initiatives for population control in countries such as China and India. Moreover, rise in awareness about contraceptives and surge in number of unplanned pregnancies are anticipated to drive the intrauterine contraceptive rings market in the region.
Key Players Operating in Global Intrauterine Contraceptive Rings Market
The global intrauterine contraceptive rings market is highly saturated due to the presence of key players. A large number of manufacturers hold major share in their respective regions. Demand for intrauterine contraceptive rings has increased in emerging as well as developed markets owing to increase in rate of unplanned pregnancies. Growth strategies adopted by the leading players are likely to drive the global market. For instance, in September 2015, Ferring Pharmaceuticals acquired the global rights to MILPROSA (progesterone vaginal ring) from Teva Women’s Health, Inc.
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Major players operating in the global intrauterine contraceptive rings market are:
- Merck & Co., Inc. (Merck Sharp & Dohme B.V.)
- Pfizer, Inc.
- TherapeuticsMD, Inc.
- Daré Bioscience
Global Intrauterine Contraceptive Rings Market: Research Scope
Global Intrauterine Contraceptive Rings Market, by Type
- With Hormone
- Without Hormone
Global Intrauterine Contraceptive Rings Market, by End-user
- Gynecology Clinics
Global Intrauterine Contraceptive Rings Market, by Region
- North America
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa