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Intrauterine Devices Market Overview 2024-2033 - Share, Size, Insights, and Forecast | Analysis
Intrauterine Devices Market
Insights into Intrauterine Devices Market: Global Trends and Analysis
Intrauterine Devices Industry - Key Market Dynamics and Trends
The intrauterine devices market size has grown strongly in recent years. It will grow from $3.75 billion in 2023 to $3.96 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to family planning initiatives, women's empowerment, long-acting reversible contraception (larc), high contraceptive efficacy, cost-effectiveness, reduced side effects, healthcare professional advocacy..
The intrauterine devices market size is expected to see steady growth in the next few years. It will grow to $4.74 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to increasing awareness and education, global health initiatives, shift towards non-hormonal options, expanding access to healthcare, personalized contraceptive choices, youth-friendly reproductive services, integration with primary care services.. Major trends in the forecast period include development of frameless iuds, innovation in biodegradable iuds, enhancements in user-friendly insertion systems, integration of contraceptive counseling services, exploration of non-contraceptive health benefits..
Market Overview -
Intrauterine devices refer to small, T-shaped contraceptive devices that are inserted into the uterus to prevent pregnancy. These devices provide a highly effective and long-lasting method of birth control. It works by altering the uterine environment to make it less conducive for sperm to fertilize an egg and, in some cases, affecting the uterine lining to inhibit implantation.
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Rising Unplanned Pregnancies Drive Growth in the Intrauterine Devices Market
The increasing number of unplanned pregnancies is expected to propel the growth of the intrauterine devices market going forward. Unplanned pregnancies are defined as pregnancies that are either unwanted or unplanned, such as those that happen when no children or additional children are desired. Intrauterine devices (IUDs) are a very efficient method of birth control that prevents pregnancy by modifying the uterine environment to make it less suitable for sperm to fertilize an egg. For instance, in March 2022, according to the United Nations Population Fund, a US-based sexual and reproductive health agency, there are 121 million unintended pregnancies globally each year. Moreover, Afghanistan's unintended pregnancies are expected to reach 4.8 million in 2025. Therefore, the increasing number of women in the workforce is driving the growth of the intrauterine devices market.
Competitive Landscape -
Major companies operating in the intrauterine devices market report are Cardinal Health Inc., Pfizer Inc., Merck and Co. Inc., AbbVie Inc., Bayer AG, Abbott Laboratories, Medtronic plc., Teva Pharmaceutical Industries Ltd., Boston Scientific Corporation, Perrigo Company plc., CooperSurgical Inc., BIOTRONIK Inc., HLL Lifecare Limited, ANI Pharmaceuticals, Actavis GmbH, DKT International Inc., Nipro Medical Corporation, Pfm medical Inc., Besins HealthCare Limited, Pregna International Limited, SCITECH Medical Inc., Viatris Inc., Medicines360, Afaxys Inc., Access Vascular Inc., OCON Medical Ltd., Agile Therapeutics Inc., SMB Corporation of India, Eurogine S.L.
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