Abortion drugs, also known as medical abortion, are used to terminate early unwanted pregnancies. These drugs work by blocking progesterone and inducing contractions to expel the contents of the uterus. Medical abortion pills offer several advantages over surgical abortions as they are non-invasive, more private for women, and can be taken at home. Growing preference for non-surgical options among women is driving the demand for abortion drugs. 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:
The growing demand for non-invasive abortions is one of the key trends propelling the abortion drugs market. Medical abortion using pills is fast gaining popularity among women due to its convenience and privacy compared to surgical abortions. The non-surgical procedure allows women to terminate early pregnancy in the comfort of their home and avoids any embarrassment associated with undergoing a procedure in a clinical setting. Moreover, abortion pills are easily accessible and less expensive than surgical abortions. With increasing awareness about such pills through online portals and liberalized laws worldwide, their demand is expected to surge during the forecast period.
SWOT Analysis
Strength: Abortion drugs provide a non-surgical option for early abortion and offer convenience and privacy to women. They are effective for terminating pregnancies up to 10 weeks.
Weakness: Abortion drugs require multiple clinic or medical office visits and follow up. This can pose accessibility issues in regions with limited healthcare infrastructure. Side effects like abdominal pain and bleeding are common.
Opportunity: Advancements in telemedicine can help improve access to medical abortion especially in remote areas. Growing acceptability of abortion worldwide presents an opportunity to educate about medical abortion as a valid option.
Threats: Legal and social policies regarding abortion differ greatly across regions and nations posing a challenge. Religious and ethical objections to abortion services can impede market growth.
Key Takeaways
The Global Abortion Drugs Market Size is expected to witness high growth over the forecast period driven by growing acceptability of non-surgical abortion options.
Regional analysis comprises:
North America currently accounts for the largest share of the global abortion drugs market led by the US. Local guidelines in majority countries permit medical abortion with pills like Mifepristone and Misoprostol up to 10 weeks. Reforms to expand access are further anticipated to boost the regional market.
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, and Computer Sciences Corporation (CSC). They are focusing on expanding access through telehealth applications and developing generic versions for enhanced affordability.
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