Global Intrauterine Contraceptive Devices (IUD) Market - Segmented by Type, Product, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global intrauterine contraceptive devices market is expected to register a CAGR of 10% during the forecast period of 2018-2023. IUDs are small contraceptive devices, often T-shaped, containing either copper or levonorgestrel, which are inserted into the uterus. They are a form of long-acting contraception and are the most effective type of reversible birth control.
There are two types of IUDs: medicated (hormone releasing) or unmedicated (inert). The inert IUDs include copper-containing devices in a range of shapes and sizes and a non-medicated polyethylene device. The hormone releasing IUDs either release progesterone or levonorgestrel.
The main advantage of copper IUD is that it provides emergency contraception up to five days after unprotected sex. Currently, it is the most effective form of emergency contraception available. It prevents fertilization or implantation, but does not affect already implanted embryos. It does not contain any hormones and can therefore be used while breastfeeding. Additionally, fertility is regained quickly after the removal of IUD. Copper IUDs are also available in a wider range of sizes and shapes than hormonal IUDs.
The basic mechanism of action of hormonal IUDs is the thickening of cervical mucus, making it impenetrable to sperm. They also prevent ovulation in some users, reduce the ability of sperm to enter the ovum, and thin the endometrial lining. They help reduce or even prevent menstrual bleeding, and can be used to treat menorrhagia (heavy menses), once the pathologic causes of menorrhagia (such as uterine polyps) have been ruled out. These advancements in technology of IUDs are expected to drive the growth of the global IUD market.
Other factors, such as the increasing rate of unintended pregnancies, supportive government initiatives and private firms to prevent unwanted abortions and pregnancies, and effective contraception and less side effects of IUCD are boosting the growth of the market.
High Cost of Treatment
The IUD choice of method may not be opted often because of cost, which is a major constraint to the market’s growth. Mirena IUD costs approximately USD 400, whereas, Jaydess and copper IUDs cost about USD 325 and USD 80 respectively. Unless covered by insurance, these devices can seem expensive to the majority of the female population. The cost of IUD reflects the payment incurred on research and development, clinical trials, and FDA, by the manufacturers. The other reason for the high cost is the relative length of efficacy of IUDs. As they last for years, such products tend to cost more. However, they cause an economic burden on the women with relatively low or no income. Taking other factors into consideration, an IUD could cost a user as much as USD 1,000, if not covered by a health insurance plan. Some insurance companies are illegally denying coverage of expensive contraceptives like IUD, making it difficult for patients to acquire this safe, effective health-care product. The other factors, such as stringent regulatory and reimbursement policies and threat of causing pelvic inflammatory infection (PID) are hindering the market’s growth.
Asia-Pacific to Record a Robust CAGR
Due to the increasing unplanned pregnancy and adoption of these devices in the region, Asia-Pacific is expected to register a robust CAGR over the forecast period. Moreover, supportive government initiatives and policies focused on improved healthcare in Asian countries are also supporting the growth of the market. Currently, North America accounts for the largest share, followed by Europe.
Key Developments in the Market
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