The size of the Latin America Intrauterine devices (IUD’S) Market was worth USD 273.84 million in 2022 and estimated to reach USD 346.18 million by the end of 2027, witnessing a CAGR of 4.8% between 2022 to 2027.
Intrauterine Devices (IUDs) are little T-shaped devices put in a woman's uterus to prevent pregnancy. Hormone-based copper and hormone-based IUDs are two common devices on the market. The market for Intrauterine Contraceptive Devices is driven by factors such as long-term effectiveness, ease of use and maintenance, and cost-effectiveness. In addition, the government's initiative to publicize the advantages of using an IUD has a big impact on market demand.
The growth of the Latin American IUD market is mostly due to greater awareness of these devices' availability due to campaigns and internet advertisements. Other factors that are expected to drive the Latin American IUD market ahead include the growing number of working-class women, advancements in IUD technology, increased frequency of sexually transmitted diseases, and government support.
The market can increase due to the advancement of technology and the introduction of new products. Even in developing countries, raising awareness of these gadgets largely raises market demand. Furthermore, due to continued research into developing new products, the rate of growth of the Intrauterine Contraceptive Devices market is also expanding. Around the world, 50% of pregnancies are unwanted. Therefore, the market for intrauterine contraceptive devices in Latin America is expected to grow considerably in the next years.
Inadequate importance during conception consultations, lack of correct understanding about the use of devices in rural areas, pelvic inflammatory infection, infertility concerns, ectopic pregnancy, and limited access to conception are all factors limiting the market growth. In addition, factors such as heavy bleeding, irregular bleeding, and cramping are projected to slow the growth of the Latin American intrauterine contraceptive devices market. A fundamental challenge for Latin America's intrauterine contraceptive device market players is a shortage of competent workers in healthcare centers.
The pandemic of COVID 19 has negatively influenced contraception and the sexual health industry. The biggest source of disruption is a drop in the manufacturing and supply of birth control pills across the continent, which has resulted in a decrease in the availability of contraceptives among the general public.
This research report has been segmented and sub-segmented the Latin American Intrauterine Devices Market into the following categories:
By End User:
Geographically, the Latin American region is expected to account for a moderate share in the global market during the forecast period owing to factors such as technological advancements, rising prevalence of STDs (sexually transmitted illnesses), direct health advantages other than birth control, and increased government initiatives to avoid undesired abortions and pregnancies. The first very successful device, long-lasting and lowers blood loss during menstruation, is the levonorgestrel-releasing IUD (LNG IUD). As a result, this technology is widely accepted and widely used in Latin America. This device will have a distinct place among the reversible contraceptives when it becomes available. However, their use in less developed countries has been restricted due to increased menstrual blood loss, a serious concern in areas with a high prevalence of anemia.
Brazil is predicted to dominate the Latin American Intrauterine Devices market during the forecast period. The key reasons driving market expansion in the current climate are the rising rate of unintended pregnancies, supportive government policies, and the growing number of private firms dedicated to preventing undesired abortions and pregnancies.
After Brazil, Argentina is Latin America's second-largest market for intrauterine devices. However, unintended births have long-term effects on families and society, and governments and non-profit organizations continuously launch family planning campaigns to combat them.
KEY MARKET PLAYERS:
Companies dominating the Latin American Intrauterine Devices Market are Agile Therapeutics, Actavis PLC, ANI Pharmaceuticals Inc., Bayer, Teva Pharmaceutical, Besins HealthCare, Brecuro Medical, Effik International, Eurogine, HLL Lifecare, HRA Pharma, Lupin Pharmaceuticals, Ltd, Okamato Industries, Inc., and Pfizer.
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