Intrauterine Devices Market Future Trends

Global Intrauterine Devices Market to reach US$ 4.4 BN by 2031, driven by the rise in awareness over the availability of the devices through campaigns and advances in the treatment of cardiac rhythm disorders: Global Insight Services

New York, November 2022: According to a new research study by Global Insight Services (GIS), the Intrauterine Devices Market is expected to grow rapidly over the next 10 years to reach a value of more than US$ 4.4 billion by 2031.

An Intrauterine device is a T-shaped plastic or copper birth control medical device inserted into the uterus to prevent pregnancy. It releases copper into the womb, altering the cervical mucus and making it difficult for sperm to reach and survive an egg. It can also prevent a fertilized egg from implanting itself. IUDs are widely preferred over other methods of contraception because they are compact, safe, and cost-effective, and they have no hormonal side effects such as acne, headaches, or breast tenderness. It is currently available in various types that can last for a period of 5 to 10 years.

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Global Intrauterine Devices Market: Market Drivers and Trends

The rise in awareness over the availability of the devices through campaigns is the primary driver of the industry’s growth. One of the key factors influencing global demand for IUDs are initiatives taken by various countries’ health agencies, in collaboration with non-profit organizations (NPOs), to raise awareness about family planning, the benefits of birth control measures, and health-related issues caused by unplanned pregnancies are promoting market growth. Furthermore, because IUDs have a very low risk of ectopic pregnancy, they are gaining popularity among nulliparous women and adolescents who have never given birth and are at a higher risk for negative birth outcomes such as breast and reproductive cancers.

Furthermore, the rise in unplanned and unwanted pregnancies, which has become one of the world’s major concerns. For Instance, according to the World Health Organization (WHO) and the International Federation of Medical Students’ Associations’ 2018 report, approximately 22 million unsafe abortions are performed globally each year, resulting in the deaths of an estimated 47,000 women, Aside from that, the development of advanced product variants with fewer side effects, such as postpartum, slimmer, and reusable IUDs, is expected to offer lucrative growth opportunities to industry investors in the coming years. These factors are expected to drive the growth of the global Intrauterine Devices Market.

Global Intrauterine Devices Market: Market Restraints and Challenges

The factors that are impeding the market lack of proper knowledge on use of devices, pelvic inflammatory infection, infertility issues, and limited access for conception are limiting the market growth. Additionally, fewer patients experience side effects such as cramps, irregular periods, heavy periods with stronger cramping and others are hindering the global Intrauterine Devices Market growth and further restrict the growth of the market.

Global Intrauterine Devices Market Report Findings

https://www.globalinsightservices.com/reports/intrauterine-devices-market/

The hormonal segment is likely to hold the major share of the market in 2021

Based on type, it is bifurcated into copper, and hormonal. The hormonal segment is expected to be the largest segment in the Intrauterine Devices Market in 2021. Furthermore, because of their numerous health benefits and improved patient outcomes, these hormonal IUDs are recommended by healthcare professionals. Hormonal IUDs are considered extremely safe due to their non-contraceptive benefits and can be used by patients suffering from heavy menstrual bleeding, endometriosis, anaemia, fibroids, and other conditions.

The 25-34 segment is likely to hold the major share of the market in 2021

Based on application, the market is bifurcated into 15-24, 25-34, 35-44, and above 44. The 25-34 segment dominated the market in 2021, because of the increase in awareness of intrauterine devices and a rise in concern about adolescent sexual activity, as premarital and unplanned pregnancy frequently leads to early school termination or abortion.

The hospitals segment is likely to hold the major share of the market in 2021

Based on end-user, the Intrauterine Devices Market is segmented into hospitals, clinics, community healthcare centers and others. The hospital segment dominated the market, because of an increase in the number of patient visits for family planning, which drives market growth during the forecast period.

The North America region is accounted for the majority of market share in 2021

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The North America is dominating in the Intrauterine Devices Market. The primary reasons driving the development of the market in this region is the increase in the demand of the copper UID, and hormone based UIDs.

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Competitive Landscape

• The key players studied in the global Intrauterine Devices Market are Abviee Inc. (US), CooperSurgical Inc. (US), DKT International (US), Eurogine, S.L. (Spain), HLL Lifecare (India), Lupin Pharmaceuticals (India), Mona Lisa NV (Germany), Pregna International Limited (India), Prosan International BV (Netherlands), and Viatris Inc (US) among others.

Global Intrauterine Devices Market: Recent Developments

• In June 2021, Sebela Pharmaceuticals Inc. is conducting a phase III clinical trial with PRA Health Sciences to evaluate LevoCept, a long-acting reversible intrauterine system, for contraceptive efficacy, safety, and tolerability. The trial is scheduled to conclude in June 2027.

• In February 2020, Agile Therapeutics, Inc. received FDA approval for Twirla transdermal system, which is indicated as a method of contraception for use in women of reproductive potential with a BMI of 30 kg/m2 who require a combined hormonal contraceptive.

• In September 2019, Kyleena, a Bayer’s intrauterine device, has been approved by the US Food and Drug Administration. This device is extremely effective at preventing pregnancy and has few side effects.

Global Intrauterine Devices Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global Intrauterine Devices Market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.

• A thorough analysis of market trends and restraints is provided.

• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.

• The forecasts in this report are made by examining the recent trends along with future global Intrauterine Devices Market potential from 2021 to 2031 in terms of revenue.

• Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the global Intrauterine Devices Market are also analyzed.

• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global vacuum bearing industry.

Global Intrauterine Devices Market Segmentation

By Type

• Copper

• Hormonal

By End-User

• Hospitals

• Clinics

• Community Healthcare Centers

• Others

By Age Group

• 15-24

• 25-34

• 35-44

• Above 44

By Region

• North America

• The U.S.

• Canada

• Mexico

• Europe

• UK

• Germany

• France

• Spain

• Rest of Europe

• Asia Pacific

• China

• India

• Japan

• South Korea

• Rest of Asia-Pacific

• Rest of the World

• Latin America

• Middle East

• Africa

Key Players

• Abviee Inc. (US)

• CooperSurgical Inc. (US)

• DKT International (US)

• Eurogine, S.L. (Spain)

• HLL Lifecare (India)

• Lupin Pharmaceuticals (India)

• Mona Lisa NV (Germany)

• Pregna International Limited (India)

• Prosan International BV (Netherlands)

• Viatris Inc (US)