April 15, 2024
Abortion Drugs Market

The Abortion Drugs Market is Estimated to Witness High Growth Owing to Rising Incidences of Unplanned Pregnancies

The abortion drugs market comprises products such as Mifepristone, Misoprostol, and Methotrexate that are utilized for medical termination of early pregnancy. These drugs are mainly prescribed for early abortion within 10 weeks of pregnancy. Mifepristone inhibits the action of progesterone hormone, causing the lining of the uterus to shed. It is followed by misoprostol, which causes cramps and bleeding to empty the uterus. The demand for abortion drugs has increased substantially over the years owing to rising incidences of unintended pregnancies. Furthermore, restrictions on surgical abortions in several countries have also augmented market growth.

The Global Abortion Drugs Market Size is estimated to be valued at US$ 4.07 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period from 2024 to 2031.

Key Takeaways
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. These major players are focusing on expanding their product portfolios and global footprints through mergers & acquisitions.

The rising cases of unwanted pregnancies present significant opportunities for abortion drug manufacturers to enhance accessibility through e-commerce platforms and telehealth services. Growing awareness about contraceptive choices can further drive the demand.

Asia Pacific is witnessing rapid growth in abortion drugs market owing to increasing government initiatives to promote reproductive health in densely populated countries like India and China. Legalization of abortion in major economies and rise in medical tourism will boost the regional market over the forecast period.

Market Drivers
One of the key drivers for the abortion drugs market is rising incidences of unintended pregnancies. According to the World Health Organization (WHO), over 190 million cases of unintended pregnancies were recorded globally each year between 2015-2019. Higher rate of accidental pregnancies is prompting more women to consider medical abortion as an option. This is expected to significantly fuel the demand for abortion drugs in the coming years.

PEST Analysis
Political: The legality and regulations around abortion differ significantly in various parts of the world. Many countries have strict laws around abortion while others have made it fully legal. This impacts the demand and supply of abortion drugs in a region.
Economic: The economic condition of individuals and availability of healthcare insurance influences their ability and decision to opt for medical abortion. Strong economic growth translates to higher spending on women’s healthcare.
Social: Social attitudes and cultural norms around pre-marital relationships, sex education, contraception and single motherhood affect the acceptability of abortion in societies. Lack of awareness also impacts the adoption of abortion medications.
Technological: Development of new drug formulations and minimally invasive procedures have improved accessibility and affordability of early medical abortion. Telemedicine is also enabling consultations for abortion remotely.

The North America market currently accounts for the largest share of the global abortion drugs market, in terms of value. This can be attributed to the widespread availability of early medical abortion along with the development of new medications in the region. Furthermore, rising concerns about unwanted pregnancies and growing population have boosted the demand for abortion services in America.

On the other hand, Asia Pacific region is estimated to be the fastest growing market for abortion medications during the forecast period. This is primarily due to increasing government investments towards women’s health, rising public awareness about contraception, legalization of abortion in several countries and decreasing social stigma associated with it. Rapid urbanization and growing women workforce have further augmented the need for family planning in emerging nations of Asia Pacific like India and China, presenting numerous opportunities for market players.

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