LONDON--(BUSINESS WIRE)--The global intrauterine devices market will grow from USD 3.71 billion in 2014 to USD 4.39 million by 2019, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global intrauterine devices market for 2015-2019. To calculate the market size, the report considers the overall global sales of female contraceptive products. Based on product type, the market is further classified into two segments: hormonal intrauterine device and copper intrauterine device.
Technavio’s research study segments the global intrauterine devices market into the following regions:
- Americas
- EMEA
- APAC
EMEA: largest market for intrauterine devices
By contributing more than 43% share of the overall market, EMEA led the global intrauterine devices market in 2014, with the UK, Germany, Hungary, France, Italy, and Spain being major revenue contributors. Technavio analysts expect the market in EMEA to grow steadily during the projected period because of the growing support from governments and NGOs and increased strategic alliances between global and local companies. In 2013, around 99 million people in EMEA used different contraceptive methods.
“Vendors are conducting social marketing across all commercial media to raise the awareness of contraceptive devices, because the majority of developing countries have limited knowledge on the correct use of these devices,” says Barath Palada, a lead analyst at Technavio for urology devices.
The report further states that about 80% of females in Europe, particularly Hungary, Spain, France, and Germany, have been reported to use various contraception methods to avoid unplanned pregnancies, STDs, and STIs. The use of contraceptives such as IUDs in countries like Africa is increasing primarily because of the disease-prevention programs run by NGOs.
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Intrauterine devices market in the Americas
The Americas accounted for over 33% of the global intrauterine devices market in 2014. The market here is likely to be stagnant compared to EMEA and APAC. The increase in the number of unplanned pregnancies and rise in the use of contraceptive devices will increase the market growth. There might be new product innovations, which will enhance the market growth. Currently, in the US, about 62% of females of reproductive age are using contraceptive methods to prevent pregnancies, STDs, and STIs. Actavis, Teva, and Bayer are the major vendors with a commendable market share in the Americas.
Intrauterine devices market in APAC
APAC accounted for close to 24% share of the market in 2014, with India, China, Japan, South Korea, Singapore, and Australia being major contributors. The market in APAC will likely grow rapidly compared to other regions because of its large potential consumer base. The growing public awareness of contraceptives through programs and campaigns conducted by NGOs and governments also propels market growth.
Changing lifestyles, rising disposable income levels, and the increasing availability of low-cost products, such as copper IUDs and Sino-implants, have resulted in the increased use of contraceptive devices in the APAC region. The high prevalence of STDs compels individuals to use contraceptive devices,” says Barath.
Some of the top vendors in the global intrauterine devices market highlighted in the report are:
- Bayer Healthcare
- Teva Pharmaceuticals
- Actavis
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