Fort Collins, Colorado, May 02, 2024 (GLOBE NEWSWIRE) --
The growing popularity of intrauterine devices has fueled the industry's growth.
A rising trend toward planned pregnancies is fostering greater awareness about the importance of contraceptives in preventing unintended pregnancies. Among the contraceptive options available, intrauterine devices (IUDs) stand out for their long-lasting, easily reversible, and highly effective nature, boasting a success rate of over 99%. Consequently, they are widely recommended by healthcare professionals. The growing trend of delayed pregnancies among women has further bolstered the demand for IUDs.
Government initiatives aimed at population control also play a significant role in promoting the use of safe and effective contraceptives, thereby raising awareness about IUDs, particularly among younger demographics. The inherent safety profile of intrauterine devices has spurred research and development activities in this segment. Notably, in 2021, the World Health Organization (WHO) recognized a levonorgestrel-releasing intrauterine device as one of the most efficacious forms of long-acting reversible contraception. These combined factors are driving the robust growth of the intrauterine devices market.
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Segmentation Overview:
The intrauterine devices market has been segmented into type, age group, distribution channel, and region.
IUDs dominated the market in 2023 and is projected to account for a significant market share
- The intrauterine device market is segmented by type into copper IUD and hormonal IUD. In 2023, hormonal IUDs dominated the market, with a high share. They are highly in demand because they are recommended by gynecologists and healthcare professionals.
The 25-34 age group is dominant for the intrauterine devices market.
- The intrauterine device market is segmented by age group into 15-24 years, 25-34 years, 35-44 years, and above 44 years. The 25-34 age group dominated the market with a high share in 2022. The 15- 24 age group is the second largest segment. Adoption of live-in relationship culture and early marriages in some regions are some of the reasons for the growing demand for IUDs in this age group.
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Intrauterine Devices Market Report Highlights:
- The intrauterine devices market growth is anticipated at a CAGR of 9.7% by 2032.
- Advanced technologies and developments in intrauterine devices have provided scope for manufacturing companies to grow their market share and penetrate new markets.
- North America has dominated the intrauterine devices market, with a high share in the adoption of dual income and no-kids.
- Some prominent players in the intrauterine devices market report include Abbvie Inc. (Allergan Plc.), Bayer AG, CooperSurgical Inc., DKT International, EUROGENE, S.L., Agile Therapeutics, Sebela Pharmaceuticals. Stryker Corporation, Pregna International Ltd, Prosan International BV, and Vitaris Inc.
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