Technavio Forecasts Intrauterine Contraceptive Devices Market to grow by USD 799.85 million from 2020 to 2025

1. Market growth 2021-2025: USD 799.85 million
2. Growth momentum & CAGR: Accelerate at a CAGR of almost 4%
3. YoY growth (%): 3.25%
4. Performing market contribution: North America at 33%
5. Key consumer countries: US, Germany, China, France, and Japan

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Regional Market Analysis

With 33% of the growth originating from North America, this region will record a fast growth rate during 2021-2025. The long-term efficacy and increased acceptance will significantly influence intrauterine contraceptive devices market growth in this region. The US leads the market in North America. The presence of local market players, supportive government initiatives, high awareness, and technological innovations such as postpartum and reusable IUDs drive market growth in the US. According to the Centers for Disease Control and Prevention (CDC), almost half of the pregnancies in the US are unintended. Hence, the country experiences a high adoption of intrauterine devices among women. Currently, the market in the US has four hormonal IUDs, namely Mirena, Skyla, LILETTA, and Kyleena, and one copper IUD, namely PARAGARD. In Canada, copper IUDs, along with Mirena, Jaydess, and Kyleena, are available.

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Key Vendors and Vendor Strategies

AbbVie Inc., Bayer AG, DKT International, EUROGINE SL, and Laboratoire HRA Pharma SAS are a few of the key vendors in the intrauterine contraceptive devices market.

The vendors in the market are constantly focusing on the launch of new products with innovative technologies to strengthen the product portfolio and sustain their position in the global intrauterine contraceptive devices. Some of the key offerings by major vendors are mentioned below:

• AbbVie Inc. - The company offers intrauterine contraceptive devices under the brand, LILETTA.
• Bayer AG - The company offers intrauterine contraceptive devices under the brand, Mirena.
• DKT International - The company offers intrauterine contraceptive devices under the brands, SafeLoad and Silverline.

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Key Market Drivers

Our analysts have extensively outlined the information on the key market drivers and their impact on the intrauterine contraceptive devices market.

• Increasing rate of unintended pregnancies and unwanted abortions:

The rising incidence of unintended pregnancies is expected to contribute to the growth of the global intrauterine contraceptive devices market. Unintended pregnancy is one of the most pressing public health problems and a significant issue of global reproductive health, imposing a substantial socioeconomic burden on society and individuals. According to the World Health Organization (WHO), in developing countries, almost half of the pregnancies among adolescent girls aged between 15-19 years are unintended. The adoption of contraceptive methods can lower the rate of such pregnancies. The chances of pregnancy significantly decrease with the use of IUDs. The increasing prevalence of unwanted abortions is also likely to increase the demand for IUDs, resulting in the growth of the market. A large number of unwanted abortions drive the need for more effective contraceptive devices.

To know about a few other market drivers, trends, and challenges.

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SOURCE Technavio