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Human Chorionic Gonadotropin or HCG is a hormone produced during pregnancy that supports the normal development of an egg in a woman’s ovary, and stimulates hormone production needed to maintain a pregnancy. HCG is used medically to induce and support ovulation and pregnancy. It is used in fertility treatment and to detect pregnancy. HCG helps in regulating sex hormone production and development of the corpus luteum.
The global Human Chorionic Gonadotropin (HCG) Market is estimated to be valued at US$ 710.88 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 key trends:
One of the key trends in the HCG market is rising urbanization. According to the United Nations, by 2050 about 68% of the world’s population is projected to live in urban areas. Rapid urbanization leads to sedentary lifestyles and changing food habits which results in increased infertility rates. This is boosting the demand for HCG which is widely used in fertility treatment and diagnosis. Another key trend is heavy investment in research and development of biosimilar HCG products. Many companies are focusing on developing cost-effective biosimilar HCG to expand their market share and meet the growing demand from customers. Technological advancements in fertility treatment and diagnostics is also fueling the HCG market growth.
Porter’s Analysis
– Threat of new entrants: The threat of new entrants is moderate as extensive R&D is required to develop HCG products and receive regulatory approval. Existing players have established brand names and distribution networks.
– Bargaining power of buyers: The bargaining power of buyers is moderate as HCG products are medical supplies and buyers have limited options. Changing suppliers involves additional costs.
– Bargaining power of suppliers: The bargaining power of suppliers is low as there are many raw material suppliers and manufacturers can source from alternative suppliers.
– Threat of new substitutes: The threat of substitutes is low as there are limited treatment options for infertility and weight loss available as alternatives to HCG therapy.
– Competitive rivalry: Competition in the market is high owing to the presence of many international as well as local players.
Key Takeaways
The global Human Chorionic Gonadotropin (HCG) market is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing prevalence of infertility worldwide. North America is expected to hold the largest share in the HCG market due to increasing awareness about HCG products and growing healthcare expenditure. Europe is also expected grow significantly due to rising awareness about infertility treatment.
Regionally, North America dominates the HCG market and is expected to continue its dominance over the forecast period. This is attributed to growing awareness among people about infertility and treatment options such as HCG therapy along with rising healthcare expenditure in the region. Europe is also expected to grow substantially owing to increasing incidence of infertility and rising focus on research activities in the region.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Human Chorionic Gonadotropin or HCG is a hormone produced during pregnancy that supports the normal development of an egg in a woman’s ovary, and stimulates hormone production needed to maintain a pregnancy. HCG is used medically to induce and support ovulation and pregnancy. It is used in fertility treatment and to detect pregnancy. HCG helps in regulating sex hormone production and development of the corpus luteum.
The global Human Chorionic Gonadotropin (HCG) Market is estimated to be valued at US$ 710.88 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 key trends:
One of the key trends in the HCG market is rising urbanization. According to the United Nations, by 2050 about 68% of the world’s population is projected to live in urban areas. Rapid urbanization leads to sedentary lifestyles and changing food habits which results in increased infertility rates. This is boosting the demand for HCG which is widely used in fertility treatment and diagnosis. Another key trend is heavy investment in research and development of biosimilar HCG products. Many companies are focusing on developing cost-effective biosimilar HCG to expand their market share and meet the growing demand from customers. Technological advancements in fertility treatment and diagnostics is also fueling the HCG market growth.
Porter’s Analysis
– Threat of new entrants: The threat of new entrants is moderate as extensive R&D is required to develop HCG products and receive regulatory approval. Existing players have established brand names and distribution networks.
– Bargaining power of buyers: The bargaining power of buyers is moderate as HCG products are medical supplies and buyers have limited options. Changing suppliers involves additional costs.
– Bargaining power of suppliers: The bargaining power of suppliers is low as there are many raw material suppliers and manufacturers can source from alternative suppliers.
– Threat of new substitutes: The threat of substitutes is low as there are limited treatment options for infertility and weight loss available as alternatives to HCG therapy.
– Competitive rivalry: Competition in the market is high owing to the presence of many international as well as local players.
Key Takeaways
The global Human Chorionic Gonadotropin (HCG) market is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing prevalence of infertility worldwide. North America is expected to hold the largest share in the HCG market due to increasing awareness about HCG products and growing healthcare expenditure. Europe is also expected grow significantly due to rising awareness about infertility treatment.
Regionally, North America dominates the HCG market and is expected to continue its dominance over the forecast period. This is attributed to growing awareness among people about infertility and treatment options such as HCG therapy along with rising healthcare expenditure in the region. Europe is also expected to grow substantially owing to increasing incidence of infertility and rising focus on research activities in the region.
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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
