Human Chorionic Gonadotropin (HCG) is a hormone produced during pregnancy that helps maintain the corpus luteum and progesterone levels. HCG stimulation aids in infertility treatment and also useful for inducing ovulation in cycles and menstrual cycles.
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 the increased adoption of fertility treatments involving assisted reproductive technology. The growing prevalence of infertility as a result of delayed pregnancies, rising stress levels, changing lifestyle habits, and increasing incidence of medical conditions affecting fertility is driving the demand for fertility treatments like IVF which involves the administration of HCG. Furthermore, increasing awareness about fertility treatments and the success rate of IVF is encouraging more couples to opt for assisted reproductive techniques for conception.
SWOT Analysis
Strength: The HCG market has high demand due to wide applications in fertility treatments. HCG helps stimulate ovulation and enhances fertility rates.
Weakness: Long term use of HCG can cause side effects such as bloating, weight gain, breast tenderness, headache and mood swings in some patients. Strict regulatory norms regarding the production and storage of HCG products increase the difficulty of market entry.
Opportunity: Increasing prevalence of infertility worldwide due to lifestyle changes and rising age of first-time pregnancies presents an opportunity for growth of the HCG market. Growing awareness about fertility treatments also supports the demand for HCG.
Threats: Availability of alternative fertility drugs and therapies poses a threat to the HCG market. Economic slowdowns can reduce healthcare spends and lower the demand. Stringent regulations pertaining to the production of HCG threaten new entrants with high entry barriers.
Key Takeaways
The global Human Chorionic Gonadotropin (HCG) Market is expected to witness high growth, exhibiting a CAGR of 6.5% over the forecast period, due to increasing prevalence of infertility worldwide. According to WHO, infertility affects approximately 15% of reproductive-age couples.
Regional analysis: North America dominates the global HCG market due to growing awareness about fertility treatments and technological advancements in the region. Asia Pacific exhibits the fastest growth owing to rising healthcare spends, large population and increase in fertility tourism. China, India and Japan are the major markets in the region.
Key players: 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. The major players focus on new product launches, collaborations and technological innovations to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
