Intrauterine Devices Market Growing Awareness Regarding Family Planning

According to Precision Business Insights (PBI), the latest report, the intrauterine devices market is expected to be valued at USD 3,476.4 million in 2022 and is poised to grow at a significant CAGR of 4.1% over 2022-2028. The primary driver of the expansion of the global Intrauterine Devices market rises in the occurrence of unintended pregnancies, with favourable government initiatives for spreading awareness regarding family planning, and encouraging the usage and adoption of various contraceptive methods.

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Hospitals Segment to Dominate the Intrauterine Devices Market:
On the basis of end users, the hospital's segment held the largest share in 2021, is expected to hold a significant share over the forecasted period due to a rise in the number of patient visits for family planning in hospitals. Moreover, various government funds in many hospitals for the low source of income people can easily go to the hospitals and know about family planning, which undoubtedly increases the demand of this segment, consequently intrauterine devices market will expand over the forecasted period.

North America Intrauterine Devices Market:
North America is expected to increase in the global Intrauterine Devices market over the forecast period. It is projected to grow at a significant CAGR in the coming years, owing to the largest IUD market there, which has shown the greatest demand in the usage of both hormone-free copper, as well as hormone-based IUDs, it is the key form of contraceptive that is majorly demanded by US citizens because it uses as an emergency contraceptive. However, the intrauterine devices market is witnessing a hike in its demand. The Asia Pacific is also expected to have a significant share of the global Intrauterine Device market the during the forecast period attributed to increasing government initiatives for population control, in the countries like India and China, the rising awareness about IUDs among today's adolescents and adults, and the continuously increasing population in the region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Intrauterine Devices market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

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The intrauterine devices market is segmented based on type, age group, end user, and geography.
Based on the type, the market is segmented into the following:
• Nonhormonal: Copper-containing IUD
• Hormonal: Progestogen-releasing IUD

Based on the age group, the market is segmented into the following:
• 15-24 years
• 25-34 years
• 35-44 years
• Above 44 years

Based on the end user, the market is segmented into the following:
• Hospitals
• Clinics
• Community Health Care Centres

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the intrauterine devices market report are Bayer AG, The Cooper Companies, Inc., Pfizer Inc., HLL Lifecare Limited, OCON Healthcare, SMB Corporation, Egemen International, Meril Life Sciences Pvt. Ltd., Mona Lisa N.V., and Prosan International B.V.

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This release was published on openPR.