According to Blueweave consulting the global Intrauterine Devices (IUDs) market is estimated to have reached USD 4.23 billion in 2020 and is further projected to reach USD 5.89 billion by 2027, growing at a CAGR of 5.1% during 2021-2027 (forecast period). The intrauterine devices market is likely to grow in the forecast timeframe due to the increasing rate of unintended pregnancies, along with the supportive government initiatives and private firms for the prevention of unwanted abortions and pregnancies. These devices are gaining popularity as they are effective, safe, long-acting, and eliminate the need for other contraceptives.

Intrauterine devices Market: By Type

Based on the type, the Intrauterine Devices market is segmented into Hormonal Intrauterine Device, Copper Intrauterine Device.

Technological innovations leading to effective contraception

The recent developments in intrauterine technology, smaller frameless copper, and levonorgestrel-releasing devices can help in raising the prevalence of pregnancy. The adolescents and young nulliparous women contribute disproportionately to the epidemic of unintended pregnancies, so, long-acting methods of contraception, particularly IUDs, should be considered as first-line choices for an interval, emergency, and immediate post-oral contraception in this population of women. Also, technology advancements are contributing significantly to market growth. These devices have less impact on the menstrual pattern after the first few months.

Growing awareness regarding the use of IUDs

The IUD is a contraceptive method in the group of long-acting reversible contraception and the growing awareness regarding the benefits of IUDs is acting as the major driving factor for the market, as it is highly effective and safe. Although it is the most widely used reversible method in the world. Furthermore, satisfaction rates rank high among IUD users in the United States (US) compared to other methods, and complication rates are low.

Intrauterine Devices Market: Regional Insight

North America region is likely to dominate in the Intrauterine Devices market, followed by Asia pacific, and others. Developing countries like US and Canada have major opportunities for industrial production, retail sales, and fixed-asset investment for the IUDs.

Competitive landscape

The Intrauterine Devices (IUDs) market is fragmented owing to the presence of number of companies that provides varied IUDs products. However, the companies that hold the majority share of Intrauterine Devices (IUDs) market are Allergan PLC, Bayer AG, CooperSurgical Inc., DKT International, Egemen International, Mona Lisa NV, Pregna International Limited, Prosan International BV, and SMB Corporation of India. OCON Medical, Pregna, SMB Corporation, HLL Lifecare, HRA Pharma, Besins HealthCare and others prominent players.