U.S. Intrauterine Devices Market to witness major growth in coming years
Category: #health  By Partha Ray  Date: 2019-09-03
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U.S. Intrauterine Devices Market to witness major growth in coming years

Increasing awareness about the need for contraceptive measures has driven the U.S. intrauterine devices market expansion, with rising concern amongst women regarding problems faced by unplanned pregnancy. Although the U.S. boasts of lesser population than most other countries of comparable sizes, the government is wary of the population growth in many parts of the country, mostly resulting from unintended childbirth. Some parts even report higher adolescent pregnancy rates than others, bringing the U.S. intrauterine devices industry into focus. Doctors and health experts are making efforts to spread information on the applications and benefits of intrauterine devices (IUDs) using various media and college programs, propagating the U.S. intrauterine devices market, which amassed remunerations of over USD 1.2 billion in 2017.

Researchers had found that for the period 2010 to 2014, up to 44% of the pregnancies around the world were unplanned and it was observed that in developed regions, like the U.S., the rate of unplanned pregnancy was 45 per 1000 women aged between 15 to 44. This was lower than the overall global rate of 62 per 1000 women, mostly due to the higher convenience of contraceptive devices in the developed countries. The researchers had also informed specific statistics for the U.S., stating that in 2011, almost 2.8 million of the 6.1 million pregnancies in the country were unintended, justifying the steps taken to promulgate the U.S. intrauterine devices industry. Credibly, the Healthy People 2020 campaign launched by the U.S. Department of Health and Human Services had further highlighted the issue, targeting a 10% increase in the proportion of planned pregnancies over 2010-2020.

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Initiatives taken by the U.S. government over the past few years have accelerated the U.S. intrauterine devices market growth, most prominently by the Affordable Care Act (ACA) which had also included the healthcare coverage for contraceptives. IUDs are proven extremely efficient in birth control and officials have realized the need for easy accessibility to women who cannot afford them, at a time when women in the U.S. are gradually shifting to the idea of a smaller family. Industry experts had been long broadcasting the fact that the country is underutilizing the contraceptive options present in the market. By necessitating coverage for contraceptives with no out-of-pocket costs, the ACA improved women’s accessibility to wide range of products, boosting demand for the U.S. intrauterine devices market.

Elaborating further, ACA had virtually made contraceptives a vital preventive health benefit for women by mandating full reimbursement of FDA-approved birth control solutions and IUDs. The U.S. intrauterine devices industry has since then, immensely been proliferated by the increased affordability, as women in low-income families did not need to shell out the 1000 odd dollars required for quality IUDs. Estimates given by the National Women’s Law Center in September 2017 showed that 62.4 million women at the time had insurance which covered contraception without having to pay out of the pocket. Creating a massive consumer base for the U.S. intrauterine devices market, ACA had enabled many women to be able to financially support themselves along with adopting effective, long-term birth control.

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A notable concern arising from unintended pregnancy is the rate of abortion in the country which, even after being a safe procedure, still poses some levels of risk. Technically, abortions can, in few cases, result into infection of the womb, excessive bleeding and few other small risks. If infection in the womb is not treated on time it can affect the fertility and potentially eliminate the chances have having a child in the future. Need for avoiding any possibility of complications during abortion procedures, no matter how small the risk, will invariably strengthen the U.S. intrauterine devices market. Most women do not want to get pregnant at least within eighteen months after giving birth to a child, but a significant portion of them do not have access to proper family-planning services and do not realize that the time immediately after a delivery is ideal for inserting an IUD.

Overall, the financial burdens of having multiple children in a recovering economy, especially for the working class population, has also pushed women to embrace the products offered by the U.S. intrauterine devices industry, which stay effective for three to twelve years depending on the type of IUD. Owing to the improvements in health education and conscious family planning along with the availability of suitable health insurance plans to support the use of long-term contraceptives, the U.S. intrauterine devices market is anticipated to record a 7.5% CAGR from 2018 to 2024.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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