Abortion drugs refer to medications that end an early pregnancy. They are commonly used to induce abortions up to 10-12 weeks into pregnancy. The most commonly used drugs for medical abortion are mifepristone in combination with misoprostol. Abortion drugs provide a safe and effective option for terminating early pregnancy through medication and do not require instrumentation or surgery. They offer privacy and can be used in the comfort of one's own home. 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 Opportunity:
The growing demand for safe and reliable options to terminate an early pregnancy in a non-invasive manner presents a big market opportunity for abortion drugs. Restrictive abortion laws in many parts of the world limit access to surgical abortion procedures, pushing women towards potentially dangerous unsafe methods. Increased access to affordable and reliable medical abortion drugs can help address this issue by providing a private alternative especially in areas where other options are limited or too expensive. This represents a major untapped market opportunity for abortion drug manufacturers to expand access and reduce abortion-related risks by supplying safe medications through innovative distribution partnerships. As awareness rises regarding the effectiveness of medical abortion, the market potential for such drugs is expected to grow significantly over the coming years.
Porter’s Analysis
Threat of new entrants: Low as this market involves compliance with regulations and deep R&D investment required to develop new drugs.
Bargaining power of buyers: Moderate as some large hospitals and clinics can negotiate on prices, but individual consumers have low bargaining power.
Bargaining power of suppliers: Low due to presence of many raw material providers and manufacturers.
Threat of new substitutes: Low as there are limited substitutes for abortion drugs.
Competitive rivalry: High due to presence of many global and regional players offering generic and branded drugs.
SWOT Analysis
Strength: Drugs developed are safe, non-invasive and effective. Growing demand from emerging nations.
Weakness: Face opposition from pro-life groups. Stringent regulatory environment delays approval of new drugs.
Opportunity: Unmet needs in developing countries provide growth avenue. Combination therapies through partnerships offer innovations.
Threats: pricing pressures and compulsions to reduce costs from healthcare providers. Side effects and safety issues impact brands.
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 projected to reach over US$ 5.7 Bn by 2030, rising at a CAGR of over 10%.
Regional analysis shows North America dominates currently due to early availability of drugs. However, Asia Pacific is catching up fast on the back of growing population, demand from tier 2 and tier 3 cities, and focus of global players. China accounts for over 35% share of Asia Pacific market owing to policy changes allowing abortion.
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. Global players are focusing on strategic partnerships and mergers while local players emphasize on affordable generics.
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https://www.newswirestats.com/abortion-drugs-market-share-size-forecast-outlook-2023-2030-2/
Women today can easily buy abortion pill online at home and receive the pregnancy termination medication at home, women have come closer to accessing medical help required for the medical abortion procedure.
The online world has also brought healthcare guidance at your fingertips.
If you have followed an online pharmacy, it will generally guide on diet during and after the abortion process.
