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The rising prevalence of unintended pregnancies, particularly among teenagers and young adults is driving the industry growth. Inadequate sex education and inconsistent contraceptive use in certain regions are contributing to this trend. Subsequently, healthcare providers are responding by prescribing abortion medications, such as mifepristone and misoprostol to address these unplanned pregnancies.
The demand for abortion drugs will also continue to increase with comprehensive efforts to improve sex education and access to contraception for reducing the incidence of unintended pregnancies and the need for abortion. For instance, in March 2022, the State of World Population 2022 report by United Nations Population Fund (UNFPA) revealed that nearly half of all pregnancies worldwide, totaling 121 million annually, are unintended. This lack of reproductive choice is underscoring the importance of access to abortion drugs for those facing unintended pregnancies.
The mifepristone segment of the market is poised to record 8.6% CAGR from 2024-2032, propelled by the rising pivotal role of mifepristone in abortion procedures.
Global abortion drugs market size was valued at over USD 24.42 billion in 2023 and is estimated to grow at 8.2% CAGR from 2024-2032, driven by the rising rate of abortions.
Cipla Limited, Endo International plc, Exelgyn, Gedeon Richter plc, Jubilant Life Sciences, Lupin Limited, and Mylan N.V. among others.
North America abortion drugs market size recorded decent growth in 2023 and is predicted to witness 8.4% CAGR through 2032, owing to the presence of an improved healthcare infrastructure.