2024 Hormonal Intrauterine Devices (IUDs) Market Analysis: Market Size, Key Drivers, and Segment Insights
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What is the Expected Growth Rate of the Hormonal Intrauterine Devices (IUDs) Market from 2024 to 2033?
The hormonal intrauterine devices (IUDs) market has expanded rapidly in recent years. It will grow from $2.36 billion in 2023 to $2.61 billion in 2024 at a CAGR of 10.5%. The market’s growth is driven by the development of safer and more effective hormonal formulations, rising demand for long-term birth control solutions, increasing recommendations from healthcare providers, greater public awareness of contraceptive options, and advancements in medical technology and device design.
The hormonal intrauterine devices (IUDs) market is expected to grow rapidly, reaching $3.93 billion by 2028, with a CAGR of 10.8%. Growth drivers include rising awareness of contraceptive options, the preference for long-acting reversible contraception, advancements in device safety and efficacy, the growing emphasis on personalized healthcare, and wider availability through healthcare providers. Key trends include advancements in device technology, increasing personalization of contraceptive options, growth in patient-centric healthcare approaches, rising demand for sustainable products, and the development of new contraceptive solutions.
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What Key Factors Are Fueling the Growth of the Hormonal Intrauterine Devices (IUDs) Market?
Hormonal Intrauterine Devices Market Growth The rising incidence of unwanted pregnancies is expected to drive the growth of the hormonal intrauterine devices (IUDs) market. Hormonal IUDs offer highly effective long-term contraception with a failure rate of less than 1%. With increased awareness of reproductive health and contraceptive options, the demand for these devices is growing. According to the Office for Health Improvement & Disparities, 123,219 abortions were recorded in England and Wales from January to June 2022, marking a 17% increase from 2021, indicating a rising need for effective birth control solutions.
What Are the Major Segments of the Hormonal Intrauterine Devices (IUDs) Market?
1) By Type: 13 Milligram Hormonal Intrauterine Devices, 19 Milligram Hormonal Intrauterine Devices, 52 Milligram Hormonal Intrauterine Devices
2) By Device Design: Framed Intrauterine Devices, Frameless Intrauterine Devices
3) By Hormone Type: Levonorgestrel Releasing Intrauterine Devices, Progesterone Releasing Intrauterine Devices
4) By Application: Age 20-24, Age 25-34, Age 35-44, Other Applications
What New Trends Are Transforming the Hormonal Intrauterine Devices (IUDs) Market?
Companies in the hormonal intrauterine devices market are focused on developing advanced products like levonorgestrel-releasing intrauterine systems (LNG-IUS) to offer personalized contraceptive solutions for women. These systems release a steady dose of levonorgestrel, a synthetic progestin, to prevent pregnancy. In November 2022, Medicines360, a US-based pharmaceutical organization, introduced the FDA-approved LILETTA, a hormonal IUD. LILETTA is one of the longest-lasting IUDs in the US, providing up to 8 years of contraception and 5 years for treating heavy menstrual bleeding. It is about 99% effective at preventing pregnancy and comes with an ergonomic inserter for easy placement during consultations. It is available by prescription, and Medicines360 offers it at a reduced cost through the 340B drug pricing program to improve access to women’s healthcare.
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Which Regions Are Driving Growth in the Hormonal Intrauterine Devices (IUDs) Market?
North America was the largest region in the hormonal intrauterine devices (IUDs) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hormonal intrauterine devices (IUDs) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Hormonal Intrauterine Devices (IUDs) Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the hormonal intrauterine devices (iuds) market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Hormonal Intrauterine Devices (IUDs) Market Include
1. Hormonal Intrauterine Devices (IUDs) Market Executive Summary
2. Hormonal Intrauterine Devices (IUDs) Market Segments
3. Hormonal Intrauterine Devices (IUDs) Market Size And Template Market Growth Rate
4. Key Hormonal Intrauterine Devices (IUDs) Market Trends
5. Major Hormonal Intrauterine Devices (IUDs) Market Drivers
……
25. Key Mergers And Acquisitions In The Hormonal Intrauterine Devices (IUDs) Market
26. Top Hormonal Intrauterine Devices (IUDs) Companies
27. Hormonal Intrauterine Devices (IUDs) Market Opportunities And Strategies
28. Hormonal Intrauterine Devices (IUDs) Market, Conclusions And Recommendations
29. Appendix
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