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Noida, March 04, 2021 (GLOBE NEWSWIRE) A study recently conducted by the strategic consulting and market research firm,
BlueWeave Consulting revealed that the global market for intrauterine devices should grow from USD 4.23 billion in 2020 to USD 5.89 billion by 2027, with a CAGR of 5.1% during the forecast period (2021–2027). In the present scenario, the major factors driving the growth of the market are the rising rate of unintended pregnancies, supportive government initiatives, and the growing number of private firms for the prevention of unwanted abortions and pregnancies. Moreover, IUD devices are gaining popularity as they are effective, safe, long-lasting, and eliminate the need for other contraceptives.