Intrauterine Devices Market
Number of pages: 100 | Report Format: PDF | Published date: 16 February, 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 |
|
Growth Rate |
CAGR of 6.37% from 2022 to 2030 |
|
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% during the forecast period.
Market Fundamental: Definition
The sales and use of IUDs, a kind of long-acting, reversible contraceptive device that is placed into the uterus to prevent conception, are referred to as the intrauterine device (IUD). IUD is a tiny, T-shaped piece of plastic or metal that a healthcare professional inserts into the uterus 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 unfavourable, 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]
Market Dynamics
The 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 and 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, intrauterine devices (IUDs), and injectable contraceptives, counselling on family planning options, education on how to correctly use and maintain different methods of contraception, access to reproductive health services such as prenatal care and maternal health services.
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 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 the market growth.
Market Ecosystem
The global intrauterine device market has been analysed from three perspectives by Product, Age, End User, and Region
Intrauterine Devices Market by Product
The intrauterine devices market based on product is segmented into hormonal IUD and copper IUD. Hormonal IUD’s 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, like 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 like Paragard, which do not produce hormones. To inhibit conception, both product function by making the environment unfavourable for the sperm. A healthcare professional can simply implant and remove them, and they are very effective birth control methods.
Intrauterine Device Market by Age
[7567546]
The intrauterine devices market based on age are segmented into 15-24 years, 20-30 years, and equal 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 to 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 don't need to be monitored every day like the contraceptive pill, they are a popular option for women in these age groups. Women in their 40s and older also utilize IUDs since these devices can effectively prevent pregnancies for women who have had the children they desire or who do not wish to have any more.
Intrauterine Device Market by End User
The intrauterine devices market based on end user are segmented into hospitals, clinics, and others. The hospitals segment held the largest share of the market in 2021. Gynaecologists in hospitals and clinics can prescribe and insert IUDs for their patients. In October 2020, LABORIE Medical Technologies teamed with Urotronic. The collaboration increased the adoption of minimally invasive treatments for urological illnesses and improve patient outcomes.
Intrauterine Device Market by Region
The IUDs market is mainly divided into North America, Europe, Asia Pacific, and rest of the world. The North America held major revenue share of the market in 2021. Due to the existence of numerous major companies, the high knowledge and acceptance of IUDs, and the advantageous reimbursement policies in these regions are some of the factors for market growth in North America and Europe. The Asia Pacific region is likely to grow at high CAGR, as a result of expanding family planning awareness, population growth, and government programs to encourage the use of IUDs.
Competitive Landscape
Some of the most prominent competing companies in the global intrauterine device market are,
Strategic Development
An intrauterine device (IUD) is a tiny, T-shaped piece of plastic or metal that a healthcare professional inserts into the uterus to prevent conception. IUDs function by making the sperm's environment unfavorable, preventing sperm from fertilizing the egg.
The popularity of more recent IUDs, like the Copper T380A and LNG-IUS, has boosted the market share.
Key companies operating the global intrauterine device market are, Abbvie Inc (Allergan Plc), Bayer AG, CooperSurgical Inc., DKT International, 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 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.
The global intrauterine devices market is expected to witness a CAGR of 6.37% during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain
Using the fundamental research and knowledge services capabilities of GRG Health, Growth Plus Reports may now be tailored based on client needs.
GRG Health's unique GrowthMIX strategy and comprehensive research methodology enable us to provide unique and valuable insights to our clients while uncovering trends that would not be discovered using traditional techniques.
Snehal Deshmukh
Principle Consultant
Speak to analyst