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 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Abortion drugs terminate early pregnancy (up to 10 weeks of gestation) via two major mechanisms- interfering with hormonal functions required for maintaining pregnancy or interfering with implantation process. These drugs help women avoid risks, costs, and stigma associated with surgical abortions.
Market key trends:
One of the major trends in the abortion drugs market is increasing preference for medical abortions over surgical abortions. This is due to advantages associated with medical abortions such as privacy, convenience, and being less invasive than surgical methods. According to Guttmacher Institute, medical abortions now account for over half of all abortions in the U.S. and the proportion is growing by 10% each year. Countries across the world are also liberalizing laws allowing easier access to medical abortion drugs, contributing to the growing adoption of these drugs.
Segment Analysis
The abortion drugs market is segmented into Mifepristone and Misoprostol. The Mifepristone segment currently dominates the market with over 65% share due to its use as the key ingredient in medical abortion. Mifepristone helps in terminating pregnancy by blocking the action of the hormone progesterone, which is essential to sustain pregnancy.
Key Takeaways
The Global Abortion Drugs Market Share is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing legalization of abortion drugs for overcoming restrictions on surgical abortions.
Regional analysis
North America currently dominates the abortion drugs market with over 35% share owing to easy accessibility of abortion pills. However, Asia Pacific is expected to grow at the fastest pace during the forecast period due to continually improving healthcare infrastructure and growing awareness about women's health and rights.
Key players
Key players operating in the abortion drugs market are AbbVie, Mylan Pharmaceuticals, Gedeon Richter, HRA Pharma, Cipla Ltd, Aurobindo Pharma Ltd, Dr. Reddy's Laboratories Ltd, Sun Pharmaceutical Industries Ltd, Torrent Pharmaceuticals Ltd, Mankind Pharma Ltd. AbbVie leads the market with its blockbuster drug Mifegyne for medical abortion.
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