Drug Price Trends for ELURYNG VAGINAL RING

Average Pharmacy Cost for ELURYNG VAGINAL RING

These are average pharmacy acquisition costs (net of discounts) from a US national survey

Drug Name	NDC	Price/Unit ($)	Unit	Date
ELURYNG VAGINAL RING	65162-0469-35	49.58895	EACH	2024-12-18
ELURYNG VAGINAL RING	65162-0469-32	49.58895	EACH	2024-12-18
ELURYNG VAGINAL RING	65162-0469-35	42.53705	EACH	2024-11-20
ELURYNG VAGINAL RING	65162-0469-32	42.53705	EACH	2024-11-20
ELURYNG VAGINAL RING	65162-0469-35	60.11840	EACH	2024-10-23

ELURYNG VAGINAL RING Market Analysis and Financial Projection

Market Analysis and Price Projections for EluRyng Vaginal Ring

Market Definition and Overview

The EluRyng vaginal ring is a flexible, small, plastic ring inserted into the vagina to prevent pregnancy. It continuously releases hormones, specifically estrogen and progestin, to prevent pregnancy by thickening cervical mucus and reducing the lining of the womb[1].

Market Size and Growth Projections

The vaginal rings market, which includes EluRyng, was valued at $1,932.9 million in 2022 and is projected to reach $2,791.2 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period[1].

Another report indicates that the global vaginal ring market was valued at $2,116.54 million in 2021 and is expected to reach $3,450.43 million by 2030, with a CAGR of 5.58% from 2023 to 2030[4].

Key Market Drivers

Several factors are driving the growth of the vaginal ring market, including:

• Increasing Acceptance of Contraceptives: Consumers' progressive attitude towards contraception is a significant driver. As attitudes towards premarital sex shift, the acceptance of vaginal rings is expected to increase across all age groups[4].
• High Disposable Income: Higher disposable incomes, particularly in Pacific Rim countries like Malaysia, Indonesia, and Vietnam, are projected to fuel market growth[4].
• Increased Contraceptive Awareness: Rising awareness and acceptance of new contraceptive products, especially among working women, contribute to market growth. In the United States, for example, more than half of women work, and 70% of women with children under 18 are employed[4].

Market Segmentation

The vaginal ring market is segmented by type and sales channel:

• By Type:
  • NuvaRing
  • Femring
  • Estring
  • EluRyng (the generic version of NuvaRing)[1]
• By Sales Channel:
  • Hospitals and Clinics
  • Pharmacy
  • Online Pharmacy[1]

Regional Analysis

The global vaginal ring market is geographically segmented into:

• North America: Expected to have the largest market share, driven by increased contraceptive awareness and rising acceptance of new products in the United States and Canada[4].
• Europe: A significant market due to high contraceptive usage and acceptance.
• Asia Pacific: Growing rapidly due to increasing disposable income and changing attitudes towards contraception.
• Latin America and Middle East and Africa: Also showing growth, though at a slower pace compared to other regions[4].

Pricing and Cost Analysis

The cost of EluRyng, a generic version of NuvaRing, varies based on the pharmacy and whether the patient has insurance coverage.

• Cash Price: The cost for EluRyng is around $155 for a supply of 3 rings, with each ring costing approximately $51.50[2][5].
• Insurance and Discounts: Prices can be significantly lower with insurance coverage or using discount cards. For instance, the Drugs.com discount card can save up to 80% on prescription medicines[2].

Competitive Landscape

The market for vaginal rings is competitive, with several key players:

• Merck & Co., Inc.: Partnered with Prasco to introduce the authorized generic version of NuvaRing[1].
• Millicent Pharma
• Pfizer Inc.
• TherapeuticsMD, Inc.
• Amneal Pharmaceuticals, Inc.
• Johnson & Johnson[1]

Regulatory Approvals and Partnerships

The FDA approval of EluRyng, the first generic version of NuvaRing, has been a significant factor in the market. Partnerships between companies, such as the one between Prasco and Merck & Co., Inc., are also driving market growth by increasing the availability of generic versions[1].

Consumer Trends and Preferences

Consumers are increasingly looking for convenient and reliable contraceptive methods. Vaginal rings, like EluRyng, offer a low-maintenance option that is easy to use and provides continuous protection against pregnancy. The aesthetic appeal and reassurance of these products as health-enhancing and reliable have piqued the interest of many users[4].

Challenges and Restraints

Despite the growth drivers, the market faces some challenges:

• Availability of Alternative Methods: The presence of other contraceptive methods can impede the growth of the vaginal ring market[4].
• Stock Shortages and Pricing Variability: Consumers may face variability in pricing due to stock shortages and other unknown variables[2][5].

Key Takeaways

• The vaginal ring market, including EluRyng, is projected to grow significantly, driven by increasing acceptance of contraceptives and high disposable incomes.
• The market is segmented by type and sales channel, with online pharmacies expected to see significant growth.
• Regional growth is led by North America, with Asia Pacific showing promising potential.
• Pricing varies based on insurance coverage and pharmacy, with discount cards offering significant savings.
• Regulatory approvals and partnerships are crucial for market expansion.

FAQs

What is EluRyng used for?

EluRyng is used for birth control and is a generic version of the NuvaRing vaginal ring, releasing hormones to prevent pregnancy[2][5].

How much does EluRyng cost?

The cost of EluRyng is around $155 for a supply of 3 rings, depending on the pharmacy and whether you have insurance coverage[2][5].

What are the key drivers of the vaginal ring market?

Key drivers include increasing acceptance of contraceptives, high disposable incomes, and rising awareness and acceptance of new contraceptive products[4].

Which regions are expected to lead the market growth?

North America is expected to have the largest market share, followed by significant growth in the Asia Pacific region[4].

What are the challenges facing the vaginal ring market?

Challenges include the availability of alternative contraceptive methods and variability in pricing due to stock shortages[4][2][5].

Sources

1. Bizlytik: 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.
2. Drugs.com: EluRyng Prices, Coupons, Copay Cards & Patient Assistance.
3. Healthline: NuvaRing and Cost: How to Find Savings and More.
4. Verified Market Research: Vaginal Ring Market Size, Share, Trends, Growth & Forecast.
5. Drugs.com: Ethinyl estradiol/etonogestrel Prices, Coupons, Copay Cards & Patient Assistance.