April 13, 2024
Abortion Drugs Market

Abortion Drugs Market Is Expected To Be Flourished By Growing Awareness On Women’s Healthcare

Abortion drugs, also known as medication abortion or medical abortion, are drugs used to end a pregnancy. Medication abortion involves using combination of two prescription drugs namely mifepristone and misoprostol to induce abortion. Mifepristone is taken first to block the effects of progesterone, causing the lining of the uterus to shed. Misoprostol is then taken 24 to 48 hours later to induce contractions of the uterus and cause bleeding and cramping to empty the uterus. This process is same as spontaneous miscarriage. Abortion drugs are aimed at offering non-surgical options for medical termination of pregnancy during early stages.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 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

One of the major driver referred from the heading is growing awareness on women’s healthcare. Increasing focus on women’s health and well-being along with rising awareness about reproductive rights is fueling the demand for abortion drugs. According to the United Nations Population Fund (UNFPA), every day around 7,000 abortions are performed globally in unsafe environments often resulting in severe health consequences. Hence, greater availability of abortion pills is helping address unsafe abortions leading to rising sales of abortion drugs. Furthermore, easier access to medication abortion is encouraging more women to opt for early medical termination rather than invasive surgical procedures. Rising affordability of abortion drugs especially in developing nations is also supporting the market growth.

The other key driver is growing acceptance of medical abortion. Abortion drugs is considered as a less invasive and safer alternative to surgical abortion procedures and gaining more acceptance. Medical termination through pills allows greater privacy and independence for women to end early pregnancy in the comfort of their home without facing social stigma associated with visiting clinics. Growing preference for non-surgical options amid pandemic has further boosted demand for abortion drugs as it avoid health risks associated with surgical procedures.

Segment Analysis

The abortion drugs market can be segmented into mifepristone and misoprostol. Mifepristone dominates the market with over 90% share as it is the first drug prescribed to induce medical abortion. Mifepristone helps in blocking progesterone and paves the way for gentle termination. Misoprostol is administered later and helps in emptying the uterus. Though cost effective, misoprostol alone is not very effective at later stages of pregnancy.

PEST Analysis

Political: Abortion laws and policies vary across countries and states. In some nations it is legal only in special circumstances while many western nations have legalized it fully. Regulations on sale and consumption of drugs affect the market.
Economic: Rising women empowerment, education and career focus has led to delay in childbearing. This along with unwanted pregnancies boosts market demand. However, affordability is a concern in lower income nations.

Social: Society attitudes are changing with focus shifting to women’s reproductive rights and health over moral objections. However, social taboos exist in conservative cultures.
Technological: Advances in drugs allow safer medical abortion upto later stages. Telmedicine has expanded access during the pandemic but regulatory changes are awaited on its continued use.

Key Takeaways

The global Abortion Drugs Market Share  is expected to witness high growth on account of increasing unwanted pregnancies, easier access and changing social attitudes especially in developing nations.

Regional Analysis:

North America currently dominates led by the US where medical abortions have overtaken surgical ones. However, Asia Pacific is poised to be the fastest growing region supported by liberalization measures in countries like India, growing medical infrastructure and women’s empowerment.

Key players operating in the abortion drugs market are BASF SE, Chang Chun Plastics Co. Ltd., Georgia Pacific Chemicals LLC, Kolon Industries Inc., Prefere Resins, Mitsui Chemicals Inc., Sumitomo Bakelite Co., Ltd, Hitachi Chemical Co. Ltd., SI Group, Inc., and Momentive Specialty Chemicals, Inc. Regulatory practices and social environment affects sales of major brands differently across regions. Innovation in dosage forms and last date of consumption allow further market penetration.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it