Intrauterine Contraceptive Devices (IUD) Market - Growth, Trends, and Forecast (2020 - 2025)
The major factors for the growth of the intrauterine contraceptive devices (IUD) market include the technological innovations leading to effective contraception and fewer side effects, increasing rate of unintended pregnancies, and supportive government initiatives and private firms for the prevention of unwanted abortions and pregnancies.
Unintended pregnancy is an undesired conception. Not using contraception or incorrect use of contraceptive methods can result in unintended pregnancy. The percentage of unintended pregnancies is highest in teens younger than 18 years, followed by women in the age group of 20 to 24 years. These unintentional pregnancies are directly contributing to the raised demand for contraceptive devices.
However, over the past few years, the awareness of contraception has contributed to both the decline in unplanned pregnancies and the growth of the contraception market. Family planning efforts, which include increasing access to intrauterine contraceptive devices, can help reduce unintended pregnancies. The use of IUDs decreased the proportion of births that were unplanned. The usage of IUD is increasing year on year as women find IUD the most convenient, safe, and effective form of contraception. Therefore, the market studied is expected to be driven by the increasing unintended pregnancies, worldwide.
Key Market Trends
The Copper Intrauterine Device Segment is Expected to Account for the Largest Market Share During the Forecast Period
Copper IUDs have been in the market for a long time, since about 1988, earlier than the hormonal IUDs. One of the advantages of using copper IUDs is that they can be used as emergency contraceptives. They can be used within five days of unprotected intercourse to prevent pregnancy. Unlike the hormonal IUD, where the user has to wait for two days for the IUD to take effect, copper IUDs are functional immediately after insertion. They are also less expensive in comparison to hormonal IUDs.
Moreover, cheaper price of these devices has made IUD the one of the most used contraceptive devices in the United States. As per a 2018 report by the Center for Diseases Control and Prevention, 10.3% of women aged 15-49 currently use long-acting reversible contraception (Intrauterine device or contraceptive implant). This number has increased steadily over the years and expected to increase in future as well with more awareness about the advantages of the devices. This is expected to help the market growth.
North America is Expected to Dominate the Global Market
IUDs are one of the most effective forms of reversible contraception, and the interest in this method is growing among women and healthcare providers. The US market has shown the greatest demand in the use of both hormone-free copper, as well as hormone-based IUDs. It is the primary form of contraceptives used among the female US citizens. Because of its role as an emergency contraceptive, the market is witnessing a stiff increase in its demand. Hormonal IUDs are also trending in the US market, which is approved by the FDA. The three most common types of hormonal IUDs available and trending in the US market are Mirena, Skyla, and Liletta. The American College of Obstetricians and Gynecologists has now developed new guidelines to make IUDs popular among patients. It has been endorsed by the American Academic of Pediatrics as the first line of contraceptive option for teenage girls. Thus, owing to the presence of better healthcare infrastructure and awareness among the population, the North American intrauterine contraceptive devices (IUD) market is expected to grow during the forecast period.
The market studied is consolidated, owing to the presence of a few major market players. Some of the market players 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.
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