NEW YORK, Oct. 04, 2018 (GLOBE NEWSWIRE) -- The global intra-uterine contraceptive device market is expected to grow steadily from USD 3.80 billion in 2016 to USD 5.27 billion in 2023, at a CAGR of 4.80% from 2017 to 2023. Factors driving the growth of intra-uterine contraceptive device market are increasing number of birth rate, growing awareness among people, and better technological advancement in the healthcare sector. Moreover, government initiatives to prevent unwanted abortions and pregnancies are further augmenting the growth of the global intra-uterine contraceptive device market.
The report segments the intra-uterine contraceptive device market by Types (hormonal Intra-uterine contraceptive device (Skyla, Mirena, and Kyleena), copper Intra-uterine contraceptive device (U-shaped, Plain T-shaped, Banded T-shaped), by End-user gynaecology clinic, and hospitals, and by Region (North America, Latin America, Europe, Asia-Pacific,Middle East and Africa).
Intra-uterine contraceptive device (IUDs) is a T-shaped, plastic contraceptive device that is inserted into the uterus by a healthcare professional to prevent unwanted pregnancy by inhibiting the fertilization of the egg. The intra-uterine contraceptive device is also known as long-acting reversible contraception (LARCs) as they are used for long time with the reversible facility.
Key Findings of the Global Intra-Uterine Contraceptive Device Market Report
- The global intra-uterine contraceptive device market is expected to reach USD 5.27 billion by 2023
- On the basis of types, the hormonal intra-uterine contraceptive device (Mirena) held the major share of the global intra-uterine contraceptive device market in 2016 and is expected to hold its dominance during the forecast period
- On the basis of end-user, hospitals held the major share in 2016
- Asia-Pacific holds the major market share of the global intra-uterine contraceptive device market and is projected to remain key market over the forecast period. The growth in the region is attributed to growing population of regions such as China and India, coupled with increasing government initiatives to prevent unwanted abortions and pregnancies
- Some of the major players in the intra-uterine contraceptive device market are; TEVA PHARMACEUTICAL INDUSTRIES LIMITED, EGEMEN INTERNATIONAL, Bayer HealthCare Pharmaceuticals Inc, Agile Therapeutics, Allergan pl, Pfizer, Lupin Pharmaceuticals Ltd, Pregna International Ltd., SMB CORPORATION, Trimedic Supply Network Ltd
- Bayer HealthCare Pharmaceuticals Inc dominated the intra-uterine contraceptive device market garnering the largest market share, owing to the increasing research and development activity. As of September 2016, the United State Food and Drug Administration (U.S. FDA) approved a new drug-device, low dose levonorgestrel-releasing intra-uterine contraceptive device with the brand name Kyleena. Kyleena is a new system of the intra-uterine contraceptive device which releases the lowest daily hormone dose for five years to protect against pregnancy. In January 2017, approximately 2,600 users of Mirena, (another medical device by Bayer HealthCare Pharmaceuticals Inc), avoided unwanted pregnancy as the device provides long-term contraception.
Intra-Uterine Contraceptive Devices- Safer Way to Birth Control Measure with Reversible Contraception
Most of the women using contraceptive want to avoid unwanted pregnancy and want to adopt a drug or device which is safe for their health. A new healthcare technology in medical devices introduces intra-uterine contraceptive device (IUDs) which is a long-acting reversible contraceptive (LARC) method to control unwanted pregnancy. Reproductive health experts and gynecologists believe the new generation of the intra-uterine contraceptive device is the safe way to avoid unwanted pregnancy. The Intra-uterine contraceptive devices are highly effective, economical, and 99% safe in preventing pregnancy. IUDs are preventing pregnancy for a long time and reduce the chances of ectopic pregnancy also, it does not cause discomfort during physical relation and once an intra-uterine contraceptive device is removed the users can quickly return to get pregnant.
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Intra-Uterine Contraceptive Device Market – Regional Insight
Geographically, the global intra-uterine contraceptive device market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa. Asia-Pacific holds major market share in the global intra-uterine contraceptive device market during the forecast period, on account of the growing demand and increased birth rate coupled with governments and non-government organization initiative to promote the device for unwanted pregnancy and abortions. China and India are expected to be the biggest contributor to IUDs markets. Various awareness initiatives promote by health educational institutions or governments regarding the benefits of IUD to avoid unwanted pregnancy. Europe, being the key market, is expected to become the second largest intra-uterine contraceptive device market over the forecast period. The growth in the region is attributed to new technological innovations and growing awareness among people.
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