Growth Accelerated By Rising Demand For Safe Abortion Procedures

 

Abortion Drugs Market


Abortion drugs are medications used to induce an abortion. The most common abortion drugs used are mifepristone and misoprostol. Mifepristone blocks the hormone progesterone, which is needed to sustain a pregnancy. Misoprostol causes contractions and helps in expelling the pregnancy from the uterus. These drugs provide a non-surgical option for abortion which is safer than traditional methods and allows women to terminate a pregnancy privately. With the rise in unwanted pregnancies globally due to lack of sexual education and access to contraceptives in developing nations, the demand for safe abortion drugs and procedures is growing rapidly. The global Abortion Drugs Market is estimated to be valued at US$ 3.53 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market key trends:

The growing demand for non-surgical abortion methods has accelerated the use of medical abortion drugs significantly over the past decade. According to the World Health Organization, close to 30% of all induced abortions conducted globally use medical abortion pills. Mifepristone combined with misoprostol has become the gold standard non-surgical regimen for early medical abortions. Its effectiveness is around 95-98% when used within the first trimester of pregnancy. With increasing awareness about women's reproductive healthcare globally, more women now prefer a medical abortion over surgical procedures as it provides privacy and avoids invasive treatments. This trend towards non-surgical abortions has boosted the growth of the overall abortion drugs market over the past few years.

Segment Analysis

The global abortion drugs market is segmented into age group, product type, and region. By age group, the market is bifurcated into under 15 years and 15-24 years. The 15-24 years segment dominated the market in 2023 and is projected to witness highest growth during the forecast period. This is mainly due to increasing unwanted pregnancies and abortion rates among women belonging to this age group.

By product type, the market is classified into mifepristone, misoprostol, and other drugs. The misoprostol segment accounted for the largest share of the global abortion drugs market in 2023. This is attributed to factors such as efficacy and lower costs of misoprostol as compared to other drugs.

 

Key Takeaways

The Global Abortion Drugs Market Size is expected to witness high growth during the forecast period of 2023 to 2030. The market size for 2023 is US$ 3.53 Bn and is projected to reach US$ 6.1 Bn by 2030, expanding at a CAGR of 10%.

 

Regional analysis - North America dominated the global abortion drugs market in 2023 and is expected to maintain its leading position throughout the forecast period. This is attributed to easy access and availability of abortion drugs, and acceptance of abortion in countries like the U.S. Asia Pacific is projected to witness fastest growth, due to increasing awareness regarding abortion rights and services in emerging countries like India.

 

Key players - Key players operating in the abortion drugs market are IBM Corporation, Hewlett Packard Enterprise, Infosys Limited, Wipro Limited, Capgemini SE, Cognizant Technology Solutions Corporation, TATA Consultancy Services Limited, Deloitte Touche Tohmatsu Limited, Accenture plc, PAREXEL International Corporation, PwC International Limited, IQVIA Holdings Inc., Tata Technologies Limited, Computer Sciences Corporation (CSC), Eurofins Scientific SE. These players are focusing on new product development and regional expansion strategies to strengthen their market position.


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https://www.newsstatix.com/abortion-drugs-market-share-size-forecast-outlook-2023-2030-2/

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