Intrauterine Devices Market size is anticipated to cross USD 7.5 billion by 2032, according to a new research report by Global Market Insights Inc.
Government efforts toward preventing unintended abortion are a key driver behind market growth. In fact, in November 2022, the U.S. Agency for International Development unveiled over USD 15 million of additional support for Family Planning 2030 (FP2030) partnership.
Furthermore, developments in intrauterine technology including smaller frameless copper and levonorgestrel-releasing devices are also expected to increase product usage amongst adolescents and nulliparous women.
99% efficacy of copper IUD to foster product segment expansion
The intrauterine devices market size from the copper IUD segment is anticipated to record a valuation of over USD 3 billion by 2032. These IUDs are a hormone-free option for reversible birth control and suitable for people who are unable to use hormonal birth control. As per credible sources, copper IUDs have shown 99% efficacy in pregnancy prevention. These devices remain placed for up to 5-10 years and can be easily taken off whenever required. They are also safe to be used during breastfeeding, which augments their demand.
Novel innovations in IUD technology to fuel 25-29 age group segment progress
Intrauterine devices market share from the 25-29 age group segment is expected to record a revenue rate of over 6.5% by 2032, owing to growing awareness about unwanted pregnancy implications and IUD applications among women in this age bracket.
Recent innovations in technology, which yield fewer complications and help prevent pregnancy, have proliferated the use of IUDs among women of this age group. In fact, novel developments in intrauterine technology have birthed smaller frameless devices that may be ideal for younger women as they are small, well-tolerated, and effective.
Browse key industry insights spread across 170 pages with 189 market data tables & 16 figures & charts from the report, “Intrauterine Devices Market Size By Product (Copper IUD, Hormonal IUD), By Age Group (15-19, 20-24, 25-29, 30-34, 35-39, 40-44, 45+), Industry Analysis Report, Regional Outlook, Growth Potential, Application Potential, Competitive Market Share & Forecast, 2023-2032” In detail along with the table of contents:
Rising awareness about contraceptive techniques to fuel Europe intrauterine devices industry
Europe intrauterine devices market is slated to exhibit over USD 1.3 billion by 2032, owing to increasing awareness about sexual health, unwanted pregnancies, and contraceptive techniques. Moreover, the presence of government aid to prevent unsafe abortions is also contributing to regional progression.
Several product manufacturers are also focusing on further expanding in the region, creating a conducive environment for market gains. In fact, back in August 2022, Bayer AG, a German multinational pharma and biotech company, received US FDA clearance for supplemental new drug application which extends the use of IUD Mirena® 52 mg, making it compatible for use up to 8 years.
Product innovations to define the competitive landscape for intrauterine devices industry
Some of the major intrauterine devices market players include Bayer AG, Allergan (AbbVie Inc.), Pregna International Ltd., Eurogine S.L., HLL Lifecare Limited, Durbin, CooperSurgical, Inc., OCON Medical Ltd., among others.