Selbyville, Delaware, Jan. 20, 2021 (GLOBE NEWSWIRE) --
According to latest report “U.S. Intrauterine Devices Market by Product (Copper IUD, Hormonal IUD), Age Group (15-19, 20-24, 25-29, 30-34, 35-39, 40-44, 45+), Zonal Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights, Inc., the market valuation of intrauterine devices in the United States will cross $2.3 billion by 2027.
Growing inclination towards planned delayed pregnancy will enhance the market growth. The inclination towards delaying pregnancy in the U.S. emerged early in the HIV epidemic due to widespread awareness about perinatal transmission. The Centers for Disease Control and Prevention (CDC) has also recommended women to delay pregnancy. Moreover, factors such as growing career opportunities, value changes and gender equality has led women to delay pregnancy. The ongoing COVID-19 pandemic is compelling women to delay pregnancy that is contributing to increased demand for intrauterine devices.
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High number of unintended pregnancies in the U.S. will stimulate the demand for intrauterine devices. According to an article of 2017 by the National Center for Biotechnology Information (NCBI), approximately half of all the pregnancies in the U.S. are unintended. Therefore, several programs are being conducted in the country in order to spread awareness pertaining to the consequences of unintended pregnancies. The rising number of unintended pregnancies has led to various initiatives that promote the usage of effective birth control methods, including intrauterine devices. Therefore, the adoption and demand for intrauterine devices is propelling at a significant rate.
Copper intrauterine devices market in the U.S. valued at more than USD 162 million in 2020. Copper intrauterine devices are majorly preferred by women as they do not cause weight gain or acne. The demand for copper intrauterine devices is augmenting because it does not affect the body’s endocrine system.
The 25-29 years of age group segment is anticipated to witness around 10.1% growth rate till 2027. A major proportion of young women aged between 25-29 years do not prefer taking responsibility of children early in their life owing to growing interest in career opportunities. According to the Centers for Disease Control and Prevention (CDC), the usage of intrauterine devices is highest among the women aged between 25 to 34 years. As a result, the demand for intrauterine devices is increasing substantially.
South Atlantic zone of U.S. intrauterine devices market accounted for over 20% of revenue share in 2020 driven by high number of pregnancies. Rise in number of unintended pregnancies in the major states such as Georgia, Florida and North Carolina will increase the adoption and use of intrauterine devices among the women. For instance, according to a published report, around 80% of the pregnancies are unintended in teenage population in North Carolina. Additionally, P4HB program in Georgia is engaged in reducing unintended pregnancies.
Some of the major players operating in the U.S. intrauterine devices market include Bayer AG, CooperSurgical Inc. and Allergan. These companies are undertaking several strategies in order to launch new products and strengthen their industrial position.
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Table of Contents (ToC) of the report:
Chapter 3 U.S. Intrauterine Devices Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 – 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
3.4 Growth potential analysis
3.4.1 By product
3.4.2 By age group
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Porter’s Analysis
3.8 Competitive landscape, 2019
3.8.1 Competitive matrix analysis, 2019
3.9 PESTEL analysis
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https://www.gminsights.com/toc/detail/us-intrauterine-devices-market
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.