by Abortion drugs refer to pharmaceutical drugs that are used to induce an abortion. Some of the most commonly used abortion drugs are Mifepristone followed by Misoprostol and Methotrexate. These drugs help terminate early pregnancies via rupturing and cramping of the uterus. The demand for abortion drugs is rising as they offer a non-invasive alternative to surgical abortions, enable privacy, and can be taken at home. They are considered a safer option than surgical abortions during the first 10 weeks of pregnancy. The global abortion drugs market offers women control over their reproductive health and provides access to safe abortion services especially in regions where abortion laws are restrictive.
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 key trends:
One of the key trends in the abortion drugs market is the shift towards medical abortions which offer women more control and less invasive options. According to Guttmacher Institute, in 2014, 30% of all abortions in the U.S. were achieved via oral administration of abortion pills. Further, the availability of generic versions of abortion pills has made medical abortions more affordable and accessible. This trend is expected to drive higher demand especially in developing regions where surgical abortions are not widely available. At the same time, stringent regulations and bans on abortion in some countries continue to restrict market growth. Overall, increasing access to contraception and liberalization of abortion laws worldwide will determine future market opportunities for safe abortion drugs.
Porter’s Analysis
Threat of new entrants: New players entering this market require large investments in R&D to develop new drugs and navigate government regulations, deterring many potential new entrants.
Bargaining power of buyers: Individual consumers have little bargaining power, while healthcare providers and insurers have some power to negotiate prices with suppliers.
Bargaining power of suppliers: A few large pharmaceutical companies dominate the supply of abortion drugs, giving them significant bargaining power over buyers.
Threat of new substitutes: No close substitutes exist for abortion drugs which can safely terminate early pregnancies in a non-surgical manner.
Competitive rivalry: Competition is high among leading pharmaceutical suppliers to develop newer and more effective drugs while expanding access and market share globally.
Key Takeaways
The Global Abortion Drugs Market Size is expected to witness high growth.
Regional analysis: North America currently dominates the market due to supportive regulations and widespread availability and acceptance of abortion services. However, Asia Pacific is expected to rise as the fastest growing region due to improving access in nations like India and China amid growing population concerns.
Key players: 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. IBM Corporation and Hewlett Packard Enterprise currently hold the leading market positions but face stiff competition from other global brands and local Asian players seeking to expand market share across emerging economies.
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