Smart rings can track health indicators such as your heart rate, sleep and menstrual cycle.

The market is currently dominated by Finnish health tech firm, Oura.

In recent years the rings have become a fitness tech fashion staple for celebrities such as Kim Kardashian.

With their small size and sleeker appearance, analysts say they could become the successor to smart watches like the Apple Watch and Google Pixel Watch.

Mr Kitto described Samsung’s Galaxy Ring as its “smallest and most discrete product yet, offering accurate 24/7 health, wellness and sleep tracking.”

Smart watches typically have more sensors than smart rings, enabling them to access and provide a wider range of health data.

But “less intrusive” smart rings can provide a convenient, comfortable and stylish alternative for those who do not want to wear a bulky smart watch, particularly overnight to track their sleep patterns, says Mr Jeronimo.

The device works with Samsung’s Galaxy smartphones operated by Android 11 or above, and will hit shelves at a price of £399 in the UK on 24 July.

Dr Efpraxia Zamani, associate professor of information systems at Durham University, told the BBC that Samsung’s Galaxy Ring forming part of a wider ecosystem of products providing insights into users’ health and wellbeing may be an “attractive offering” for many consumers.

But she warned that users of products accessing and monitoring health data should remain wary of what data is being collected, how and where it is shared.

“Being part of an ecosystem, it means that data can be collected from the ring, from the watch, from the phone, and then, when put together, this can have even more negative impacts alongside the positive ones,” she said.

The collecting of data relating to menstrual cycles has proven controversial in the past.

Last year, the UK’s Information Commissioner’s Office launched a review of period and fertility tracking apps over data security concerns.