Human Chorionic Gonadotropin (HCG) is a hormone primarily used to support early pregnancy and to induce ovulation and pregnancy in infertility treatments. It is extracted from the urine of pregnant women and plays an important role in fertility treatments and helps establish and maintain pregnancy. It finds applications in obesity treatment, male fertility issues, and female infertility treatments. 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:
The growing prevalence of fertility-related issues has been propelling the demand for fertility treatments such as in-vitro fertilization (IVF) and intrauterine insemination (IUI). According to the World Health Organization (WHO), infertility affects around 186 million people worldwide. Factors such as delayed pregnancies, lifestyle changes, stress, obesity, and eating disorders have increased infertility rates significantly. HCG plays a vital role in fertility treatments and helps prepare the endometrium lining of the uterus for fertilization and embryo implantation. The increasing adoption of assisted reproductive technologies and focus on improving accessibility to fertility treatments especially in developing countries is expected to drive the demand for HCG over the forecast period.
SWOT Analysis
Strength: HCG is a well-established market that has been used for diagnostic and therapeutic purposes for decades. It has proven clinical efficacy for infertility treatment and weight management.
Weakness: High costs associated with branded HCG products limit their access and adoption. Supply chain issues and shortage of raw materials impact production volumes.
Opportunity: Increasing obesity rates worldwide present new opportunities for weight management applications of HCG. Growth in medical tourism in emerging markets boosts the market.
Threats: Competition from alternative weight loss methods and strict regulations associated with sale of HCG-based dietary supplements. Increased biosimilars penetration may hamper sales of leading brands.
Key Takeaways
The global Human Chorionic Gonadotropin (HCG) market is expected to witness high growth. Rising infertility rates and growing obesity prevalence are major drivers of the HCG market.
The Asia Pacific region is expected to grow the fastest during the forecast period owing to huge patient pools, rising healthcare spending, and increasing awareness.
Key players operating in the 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. These key players are focusing on new product launches, geographical expansion and capacity expansion strategies to strengthen their market position.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it