U.S. Intrauterine Devices Market Study Report 2027 | Bayer AG, CooperSurgical Inc are Top Players
With the mounting awareness pertaining to planned and delayed pregnancies and inclination towards the measures to control unintended pregnancies in the country, the U.S. intrauterine devices market is set to witness proliferating product demand over the upcoming years.
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As the career opportunities are growing, a greater number of women are preferring well-planned and delayed pregnancy, which has fueled the adoption of intrauterine devices in the country thereby providing positive growth prospects to the global market. According to a report by Global Market Insights, Inc., U.S. intrauterine devices market is estimated to record a valuation of more than USD 2.3 billion by 2027.
Speaking of the unintended pregnancies and intrauterine devices, it is evident from a 2017 article published by the National Center for Biotechnology Information (NCBI) that almost half of the total number of pregnancies in the U.S. are unintended. Considering the situation, several awareness programs regarding the repercussions of unintended pregnancy are being conducted in the country which is complementing the adoption of birth control solutions including intrauterine devices. According to a 2020 published report by the U.S. government, most American women aged 15 to 49 years use birth control. Over the span of 2017 to 2019, around 65% of these women used some form of contraception.
An overview of some of the key segments that are likely to augment the business outlook is as follows:
Based on the product bifurcation, Copper IUD segment had secured a significant market share in 2020 with a valuation of over USD 162 million and is likely to grow considerably over the coming years. The growth can be credited to higher preference for Copper intrauterine devices among women as they do not lead to acne or weight gain. In addition, copper intrauterine devices do not affect endocrine system of the body which has fueled their demand further.
Considering the adoption across various age groups, women falling under a range of 25-29 are likely to make immense use of these devices, allowing the segment to observe a substantial CAGR of 10.1% through 2027. As majority of young women in the age group of 25-29 years do not prefer going into motherhood early in their life due to higher inclination towards career opportunities, demand for intrauterine devices in this segment is relatively higher. Besides, the Centers for Disease Control and Prevention statistics has also depicted that women in the age group of 25 to 34 years majorly use intrauterine devices.
In terms of regional outlook, intrauterine devices market across South Atlantic zone of the U.S. is estimated to observe an appreciable growth over the following years. For the records, the region had secured a sizeable market share of 20% in 2020. This is majorly due to high number of pregnancies in the region. Significant number of unintended pregnancies across major states including Florida, Georgia and North Carolina is expected to foster the demand for intrauterine devices among the women. It is evident from a published report that nearly 80% of pregnancies are unintended in teenage population across North Carolina. Further, several initiatives by the government authorities such as P4HB program in Georgia to curb the situation of unintended pregnancies, will also support the adoption of intrauterine devices in the years to come.
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U.S. Intrauterine Device Market, By Product
U.S. Intrauterine Device Market, By Age Group
Besides the above-mentioned segments and their significance for the business growth, several effective business strategies and inclination towards development of new products by major industry players operating in the U.S. intrauterine devices industry such as CooperSurgical Inc and Bayer AG is also contributing to its growth. For instance, in 2017, CooperSurgical Inc. inked a definitive agreement with Teva Pharmaceutical for the acquisition of PARAGARD, the product within the portfolio of women health. Apparently, this strategic move helped the company expand its product portfolio and customer base.
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