Intrauterine Devices Market Market is Expected to Reach US$ 5.7 Billion by 2028

According to the new market research report by IMARC Group, The global intrauterine devices market size reached US$ 4.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.75% during 2023-2028.

Intrauterine devices (IUDs) are small T-shaped contraceptive devices which are placed in the uterus to prevent the implantation of fertilized ova. They are a form of long-acting reversible contraceptives (LARC) which help in birth control. IUDs can last for an extended period of 5 to 10 years, depending on the type.

The hormones or copper in these devices change the cervical mucus lining, which prevents pregnancy. These devices have gained immense traction over the past decade due to the minimal side effects and discomfort associated with them. Moreover, they are highly cost-effective and available at efficient rates, making them more preferable over other methods of contraception.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Global Intrauterine Devices Market Trends/ Drivers, restraints, and opportunities-  

Growing rates of unintended pregnancies and unplanned births across the globe have increased the awareness among women regarding the benefits of contraceptive devices like IUDs as a precautionary measure. In confluence with this, several governments and non-profit organizations have taken initiatives to inform the masses about family planning, the advantages of contraceptives, and the health issues caused by unexpected pregnancies, which, in turn, is providing a thrust to the market growth.

For instance, The International Federation of Gynaecology and Obstetrics (FIGO) is working toward improving women's health by addressing the high maternal mortality rates in low resource countries. It is also encouraging women to make informed decisions about effective contraceptive methods.

Furthermore, manufacturers are innovating with their products and have introduced advanced variants like slimmer and reusable IUDs. For instance, the copper IUD does not alter the hormone levels in a woman's body. Moreover, it has an extremely low risk of ectopic pregnancy. As a result, it is gaining popularity among nulliparous women and adolescents.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of the key players operating in the market include Actavis, Bayer, Teva Pharmaceuticals, Allergan, ANI Pharmaceuticals, Eurogine, OCON Medical, Pregna, SMB Corporation, HLL Lifecare, HRA Pharma and Besins HealthCare.

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Key Market Segmentation

The report cover the below key market segments:

On the basis of Product, the market includes:

• Hormonal Intrauterine Device
• Copper Intrauterine Device

On the basis of End-Use, the market includes:

• Hospitals
• Gynaecology Clinics
• Community Healthcare
• Others

On the basis of Breakup by Region, the market includes:

• Europe
• North America
• Asia Pacific
• Middle East and Africa
• Latin America

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IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.