by The Human Chorionic Gonadotropin (HCG) market is estimated to be valued at US$ 757.09 Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Human chorionic gonadotropin (HCG) is a hormone vital for the normal development of an egg in a woman’s ovaries and for the development of the placenta and an embryo after conception. HCG is widely used to treat infertility issues and induce ovulation. It is also commonly used during assisted reproductive procedures such as in-vitro fertilization (IVF).
Market Dynamics:
The human chorionic gonadotropin (HCG) market is expected to witness significant growth over the forecast period owing to increasing incidence of infertility. According to the World Health Organization (WHO), infertility affects around 8–12% of couples globally. Increasing awareness about infertility treatment options such as in-vitro fertilization (IVF) is further expected to propel the demand for HCG. Furthermore, technological advancements in fertility treatment procedures are also expected to aid market growth over the forecast period. However, high treatment costs associated with fertility treatments, complex regulatory framework around the world, and social stigma continues to hinder the market growth to some extent.
SWOT Analysis
Strength: Human Chorionic Gonadotropin (HCG) has wide applications in fertility treatments and weight management which drives its high demand. It is easily available in the market and has established uses. HCG faces minimal side effects and is a natural biosimilar which garners consumer trust.
Weakness: Stringent regulatory norms delay product launches and increase development costs. Developing biosimilar version of HCG requires huge investments in R&D and clinical trials.
Opportunity: Rising infertility rates and growing focus on women’s healthcare present an opportunity for HCG manufacturers. Increasing health consciousness and obese population in developing nations will bolster demand for HCG use in weight management.
Threats: Entry of alternative fertility treatment methods and cheap generic versions increase competition. Supply chain disruptions and availability of substitutes pose challenges.
Key Takeaways:
The Global Human Chorionic Gonadotropin (HCG) Market Demand is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing prevalence of obesity and infertility worldwide. Rising health expenditure along with growing focus on women healthcare is further fueling the market growth.
Regional analysis- North America dominated the HCG market in 2023 and is estimated to maintain its lead over 2023-2030. This is attributed to rising healthcare expenditure, early access to innovative drugs and growing obese population in the region. Asia Pacific exhibits highest growth rate owing to increasing medical tourism, rising infertility rates and growing healthcare access in developing countries such as India and China.
Key players operating in the Human Chorionic Gonadotropin (HCG) market are Merck & Co., Inc., Ferring B.V.,Fresenius SE & Co.KGaA,Lupin,Sun Pharmaceutical Industries Ltd,Lee BioSolutions,Serum Institute of India Pvt. Ltd., Scripps Laboratories,Sanzyme Biologics Pvt. Ltd.,VHB Medi Sciences Limited, Bharat Serums And Vaccines Limited (BSV), Zydus Lifesciences Ltd, Corona Remedies Pvt. Ltd.Key players are focusing on product launches, acquisitions and partnerships with local players to strengthen their distribution network and market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
