Intrauterine Devices Market Value Expected to Reach US$ 4.6 Billion by 2023 - IMARC Groupby Zayn Mathew Market Research Reports
Over the past few years, the global intrauterine devices market has encountered moderate growth which can be accredited to supportive plans introduced by several organizations working toward educating the female population regarding the benefits of IUDs.
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As per the latest report by IMARC Group, titled “Intrauterine Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global intrauterine devices market reached a value of US$ 3.7 Billion in 2017. Intrauterine devices (IUDs) are small T-shaped contraceptive devices which are inserted into the uterus. The copper or hormones present in these devices alters the cervical mucus lining which prevents fertilization. Intrauterine devices are usually a form of long-acting reversible contraceptives (LARC) which aid in birth control for an extended period and can last for 5 to 10 years, depending on the type. They have minimal side effects when compared to other methods of contraception and are associated with less discomfort. The cost-effectiveness, high-efficiency rates and safe nature of these devices are providing a boost to the sales of intrauterine devices worldwide.
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Unintended pregnancies and unplanned births can pose a major threat to the health of a woman. Increasing rates of unexpected pregnancies across the globe are leading women to use contraceptive methods like IUDs as a precautionary measure, thereby spurring the growth of the market. Another trend that has been witnessed among the women in developed countries is delaying pregnancy until their thirties. Due to their reversible nature, intrauterine devices are being preferred by these women as the primary method of contraception. Further, NGOs such as The International Federation of Gynaecology and Obstetrics (FIGO) are working towards improving women’s health by addressing the high maternal mortality rates in low?resource countries and encouraging women to make informed decisions about effective contraceptive methods. An increasing number of initiatives by such organizations is anticipated to propel the demand for intrauterine devices. Due to these factors, the market value is estimated to reach US$ 4.6 Billion by 2023, expanding at a CAGR of 3.8 % during 2018-2023.
Insights on Market Segmentation:
Market Breakup by Product:
1. Hormonal Intrauterine Device
2. Copper Intrauterine Device
On the basis of products, the market has been bifurcated into hormonal and copper IUDs. Presently, hormonal IUDs account for the largest market share, representing the most popular product type.
Market Breakup by End-Use:
2. Gynaecology Clinics
3. Community Healthcare
Based on end-use segments, hospitals are the major end-users of intrauterine devices, holding the dominant share. Other categories include gynaecology clinics and community healthcare centers.
Market Breakup by Region:
2. North America
3. Asia Pacific
4. Middle East and Africa
5. Latin America
Region-wise, the market has been segmented into Europe, Asia Pacific, North America, Latin America, and Middle East and Africa. Among these, North America exhibits a clear dominance, accounting for the biggest market share.
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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Created on Apr 22nd 2019 01:11. Viewed 498 times.
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