Intrauterine Devices Market
Number of pages: 100 | Report Format: PDF | Published date: February 16, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 3.20 billion |
|
Revenue Forecast in 2030 |
US$ 5.58 billion |
|
CAGR |
6.37% |
|
Base Year For Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Year |
2020 |
|
Segments Covered |
Product, Age, End User, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global intrauterine devices market was valued at US$ 3.20 billion in 2021 and is expected to register a revenue CAGR of 6.37% to reach US$ 5.58 billion by 2030.
Intrauterine Devices Market Fundamentals
Intrauterine devices, or IUDs, are a kind of long-acting, reversible contraceptive device that is placed into the uterus to prevent conception. IUD is a tiny, T-shaped piece of plastic or metal that a healthcare professional inserts into the uterus of a female to prevent conception. Global demand for IUDs is increasing as more women look for reversible, long-acting birth control options. IUDs function by making the sperm’s environment unfavorable, preventing sperm from fertilizing the egg. IUDs are long-acting and reversible, so when a user wants to get pregnant, a healthcare professional can simply remove them.
[5757567]
Intrauterine Devices Market Dynamics
The intrauterine devices market is expected to continue to grow in the coming years, driven by factors such as increasing awareness about the benefits of IUDs, the introduction of new and improved products, the growing population, increasing demand for birth control, and the expansion of government-funded family planning programs. Some of the specific services that may be provided through government-funded family planning programs include access to a variety of contraceptive methods, such as oral contraceptives, IUDs, and injectable contraceptives, counseling on family planning options, education on how to correctly use and maintain different methods of contraception, and access to reproductive health services, such as prenatal care and maternal health services.
The intrauterine devices market growth may be constrained by women’s inability to make informed judgments about their birth control options due to a lack of knowledge and education regarding IUDs. Women may find it challenging to obtain IUDs due to poor healthcare access, particularly in developing nations, which may impede the market growth for IUDs. Myths and misconceptions about IUDs, such as the idea that they can lead to infertility, can deter some women from using them, which can restrain the market’s expansion for IUDs. For some women, especially those without insurance or with limited coverage, the expense of IUDs can be a deterrent.
Intrauterine devices (IUDs) side effects include cramping and pain during insertion, irregular bleeding or spotting in the first few months, and a small risk of the IUD becoming dislodged or expelled. With an IUD, some women might also experience heavier or protracted periods. These side effects are often temporary, controllable, and tend to become better over time. Although they are uncommon, serious side effects from IUDs can include uterine perforation or infection. The popularity of more recent IUDs, like the Copper T380A and LNG-IUS, has boosted market growth.
Intrauterine Devices Market Ecosystem
The global intrauterine devices market has been analyzed from three perspectives by product, age, end user, and region.
Intrauterine Devices Market by Product
Based on product, the intrauterine devices market is segmented into hormonal IUD and copper IUD.
Hormonal IUDs release a small amount of progestin, which thickens cervical mucus and thins the lining of the uterus to prevent pregnancy. Copper IUDs work by releasing copper ions into the uterus, which is toxic to sperm and can prevent fertilization. Progesterone-releasing hormonal IUDs, such as Mirena and Skyla, can prevent conception for up to three to five years. Up to 10 years of pregnancy prevention are possible with copper IUDs such as Paragard, which do not produce hormones. Both products function by making the environment unfavorable for the sperm to inhibit conception. A healthcare professional can simply implant and remove IUDs, which are considered very effective birth control methods.
Intrauterine devices market by Age
[7567546]
Based on age, the intrauterine devices market is segmented into 15-24 years, 20-30 years, and equal to or more than 40 years. IUDs are a highly efficient and long-lasting method of birth control, and they are becoming more and more popular among young women between the age group of 15 and 24. They are also practical for women who might not be prepared for a long-term method of pregnancy control, including sterilization or contraceptive injection. Women in their 20s and 30s prefer this because IUDs are very effective, long-lasting, and do not need to be monitored every day like contraceptive pills. Women in their 40s and older also utilize IUDs since these devices can effectively prevent pregnancies for women who have had children they desire or who do not wish to have anymore.
Intrauterine devices market by End User
Based on end user, the intrauterine devices market are segmented into hospitals, clinics, and others.
The hospitals segment accounted for the largest revenue share of the market in 2021. Gynecologists in hospitals and clinics can prescribe and insert IUDs for their patients.
Intrauterine Devices Market by Region
In terms of region, the intrauterine devices market is mainly segmented into North America, Europe, Asia Pacific, and the rest of the world.
North America accounted for the major revenue share of the market in 2021. The existence of numerous major companies, the high awareness and acceptance of IUDs, and the advantageous reimbursement policies in North America and Europe are driving revenue growth in the regional markets. The market in Asia Pacific is likely to grow at high revenue CAGR as a result of expanding family planning awareness, population growth, and government programs to encourage the usage of IUDs.
Intrauterine Devices Market Competitive Landscape
The prominent companies in the global intrauterine devices market are:
Intrauterine Devices Market Strategic Developments
An intrauterine device (IUD) is a tiny, T-shaped piece of plastic or metal that a healthcare professional inserts into the uterus of a woman to prevent conception. IUDs function by making the sperm’s environment unfavorable, preventing sperm from fertilizing the egg.
The popularity of more recent IUDs, such as the Copper T380A and LNG-IUS, has boosted the market revenue share.
Abbvie Inc (Allergan Plc), Bayer AG, CooperSurgical Inc., DKT International, EUROGINE, S.L, Mona Lisa NV, and Pregna International Limited are among the top market players.EUROGINE, S.L, Mona Lisa NV, Pregna International Limited, Prosan International BV, SMB Corporation of India, Melba AG, and Ocon Medical Ltd.
IUD market growth may be constrained by women’s inability to make informed judgments about their birth control options due to a lack of knowledge and education regarding IUDs. Women may find it challenging to obtain IUDs due to poor healthcare access, particularly in developing nations, which may impede market revenue growth. Myths and misconceptions about IUDs, such as the idea that they can lead to infertility, can deter some women from using them, which can restrain the market’s expansion for IUDs. For some women, especially those without insurance or with limited coverage, the expense of IUDs can be a deterrent.
The global intrauterine devices market is expected to register a revenue CAGR of 6.37% during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain