July 24, 2024
Abortion Drugs Market

Complications From Unsafe Abortions Drive Growth Of The Abortion Drugs Market

The abortion drugs market has witnessed significant growth over the past few decades owing to growing awareness about women’s reproductive rights. Surgical abortions require infrastructure and trained medical professionals which remain inaccessible in remote areas and developing nations. However, medical abortions using pharmaceutical drugs provide a safe alternative by enabling women to terminate an unintended pregnancy privately within the first trimester in the comfort of their own home. Some of the commonly used abortion pills include mifepristone and misoprostol. The global abortion drugs market is estimated to be valued at US$ 3.53 Bn in 2024 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 key Trends:

One of the prominent trends in the abortion drugs market is the increasing preference for medical abortions over surgical procedures. This can be attributed to factors such as convenience, privacy, and avoiding risks associated with surgery. Research shows nearly half of all abortions in the U.S are now accomplished through pharmaceuticals rather than surgery. Furthermore, campaigners are advocating for expanding access and eliminating restrictions on use of pregnancy termination drugs to enable more women to exercise reproductive choice safely and privately within the comfort of their homes. However, opponents argue that medical abortions require close medical supervision and follow-up to address potential complications. The debate around balancing women’s healthcare rights and ethics is likely to influence market developments.

Porter’s Analysis

Threat of new entrants: Low due to high capital requirements for research and development of abortion drugs. Existing players have strong brand recognition and distribution networks.

Bargaining power of buyers: Moderate. Buyers have choice of alternative reproductive healthcare services. However, abortion drugs are comparatively cheaper option.

Bargaining power of suppliers: Low. Suppliers of raw materials include common organic compounds. Suppliers do not influence pricing.

Threat of new substitutes: Low. No drastic medical advancements foreseeable in alternatives to abortion drugs in near future.

Competitive rivalry: High. Large players continuously invest in new drugs and formulation research to gain market share.

Key Takeaways

The global Abortion Drugs Market Share is expected to witness high growth.

Regional analysis:

Europe is estimated to be the second largest market for abortion drugs. Countries such as the UK, France, Germany, and Italy have allowed medical abortions. Availability of abortions through the public healthcare system also contributes to the large market size. However, regulations are stringent in Eastern European nations.

Key players:

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. Players compete on technological innovations to develop more efficient drugs with fewer side effects.

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