Global Intrauterine Devices Market Size, Share, Forecast Report, 2020-2027

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The global intrauterine devices market is anticipated to grow at a significant CAGR during the forecast period. Intrauterine devices are T shaped device, containing levonorgestrel or copper that is injected into the uterus. These devices are considered as an effective way of reversible birth control and a form of long-acting contraception. These devices are gaining popularity globally as they are more effective, long-acting,and secure. There are some adverse effects attached to the use of IUDs devices includes uterus perforation, pelvic inflammatory diseases, and irregular menstrual pattern. The factor that includes an increase in government initiatives to cure unwanted pregnancies is expected to fuel industry growth.



Moreover, the act of the Affordable Care Act (ACA) in the US has encouraged a large section of women to choose for Long-Acting Reversible Contraception (LARC) such as IUDs devices owing to the lack of access to abortion and increasing co-payment for the drugs. Furthermore, technological innovations that include reusable IUDs devices that are expected to show a positive impact on the growth of the intrauterine devices market during the forecast period.



The factor such as advancement in technical innovation, immediate health benefits other than birth control is anticipated to propel the growth of the intrauterine devices market. Over the year, it has been accounted that more than half of the pregnancies are unwanted and unintended. Due to this, various government and non-profit organizations are offering and promoting the use of IUDs devices along with educating and aware the people regarding birth control measures and family planning. Therefore, several awareness programs are anticipated to grow the sale of IUDs devices and boosting the growth of the intrauterine devices market.



Segmental Outlook



The global intrauterine devices market is segmented on the basis of type and end-user. Based on type, the market is segmented into hormonal devices, copper devices. Hormonal devices are expected to have the largest market share in the intrauterine devices during the forecast period due to hormonal intrauterine devices have fewer complications and risk as compared to nonhormonal devices. The copper devices segment is expected to hold the largest market share in the intrauterine devices over the forecast period. Based on end-user, the market is segmented into hospitals, community healthcare centers, gynecology clinics, and others.



Regional Outlook



The global intrauterine devices market is further segmented based on geography including North America, Europe, Asia-Pacific and Rest of the World. North America is expected to hold a considerable market share during the forecast period. Hormonal IUDs are commonly used in the US market that is approved by the FDA. The three most common types of hormonal IUDs devices available in the US includes Liletta, Skyla and Mirena. Moreover, the American College of Obstetricians and Gynecologists developed new guidelines to make these devices popular among the population. Further, due to the presence of better healthcare infrastructure and growing awareness in the people of the US are anticipated to drive the intrauterine devices in North America during the forecast period.



Asia-Pacific will augment with the fastest rate in the Intrauterine Devices market



The market in Asia-Pacific is expected to be the fastest-growing region mainly owing to the growing awareness regarding intrauterine devices in emerging economies and increasing R&D for the development of innovative intrauterine devices. For instance, the Government of India is supporting R&D projects in IUDs devices that fuel the growth of the market in the region. China is anticipated to be a contributor to the market due to stringent government regulations& policies regarding childbirth and growing awareness related to the use of IUDs devices.



Market Players Outlook



The key players of the intrauterine devices market include Bayer AG, Cooper Surgical, Inc., HLL Lifecare Ltd., Pfizer, Inc., Pregna International Ltd, Merck & Co., DKT International, and Allergan PLC. These companies are extensively innovated in R&D in order to expand their product portfolio. For instance, in October 2019, Medicines360, a nonprofit organization to enhanced women's access to quality medicines and Allergan plc, the global pharmaceutical company introduced that the FDA approval Medicinies360 Supplemental New Drug Application (sNDA) to extend the duration of use of LILETTA 52mg for the prevention of pregnancy for up to six years. LILETTA has the longest approved duration for a hormonal intrauterine device in the US and available at the lowest Wholesale Acquisition Cost in the US.