Market Size – The human chorionic gonadotropin market size has grown strongly in recent years. It will grow from $0.87 billion in 2023 to $0.95 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to the rise in the prevalence of hypogonadism in the geriatric population, increase in awareness toward HCG among healthcare professionals and patients, rise in popularity of fertility tourism, increase in the geriatric population, and increase in affordability and improvement in healthcare facilities.
The human chorionic gonadotropin market size is expected to see strong growth in the next few years. It will grow to $1.31 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to the increasing incidence of infertility, surging prevalence of polycystic ovary syndrome, increasing female infertility, and rising usage of HCG in veterinary medicine. Major trends in the forecast period include advancements in pregnancy detection, innovative drug formulations, technological integration, focus on research and development, and product innovation.
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Scope Of Human Chorionic Gonadotropin MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Human Chorionic Gonadotropin Market Overview
Market Drivers –An increasing rate of infertility is expected to drive growth in the human chorionic gonadotropin market. Infertility refers to the inability to conceive after one year of unprotected intercourse, and the rate of infertility is rising due to factors such as delayed childbearing, lifestyle changes, environmental exposures, and medical conditions. Human chorionic gonadotropin (hCG) plays a crucial role in infertility treatments by stimulating ovulation in women and supporting testosterone production in men, thereby enhancing fertility outcomes. According to the World Health Organization, as of April 2023, infertility affected around 17.5% of the adult population, or roughly one in every six individuals worldwide, emphasizing the urgent need for improved access to affordable, high-quality fertility care. Therefore, the increasing rate of infertility is propelling growth in the human chorionic gonadotropin market.
Market Trends – Major companies operating in the human chorionic gonadotropin market are focusing on developing innovative products, such as pregnancy detection kits, to improve diagnostic accuracy, enhance patient outcomes, and expand their market reach. Pregnancy detection kits are tools designed to confirm whether an individual is pregnant by detecting the presence of human chorionic gonadotropin (hCG) in their body. For instance, in June 2022, Proov, a US-based medical equipment manufacturing company, launched new hCG tests specifically designed for early pregnancy detection, enabling women to verify pregnancy up to six days before their expected period. These tests function by identifying the presence of human chorionic gonadotropin (hCG) in the urine. It offers high accuracy, with a reliability rate exceeding 99. This innovation seeks to provide women with a dependable and accessible method to monitor their pregnancy status earlier than traditional tests, empowering them to make informed decisions regarding their reproductive health.
The human chorionic gonadotropin market covered in this report is segmented –
1) By Technology: Natural Source Extraction, Recombinant Technology
2) By Therapeutic Area: Female Infertility Treatment, Oligospermic Treatment, Male Hypogonadism, Other Therapeutic Areas
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
4) By End User: Fertility Clinics, Research Institutions, Other End Users
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Regional Insights – North America was the largest region in the human chorionic gonadotropinc market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the human chorionic gonadotropin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies in the market are Pfizer Inc., Merck & Co Inc., Novartis AG, Bristol-Myers Squibb Company, Fresenius Kabi AG, Janssen Pharmaceuticals Inc., Teva Pharmaceutical Industries Ltd., Sandoz International GmbH, Sun Pharmaceutical Industries Limited, Menarini Group, Cipla Limited, Hikma Pharmaceuticals plc, Ferring Pharmaceuticals Inc., Intas Pharmaceuticals Ltd., Zydus Lifesciences Limited, Lupin Limited, Shenzhen Hepalink Pharmaceutical Group Co. Ltd., Scripps Laboratories Inc., Aspen Pharmacare Holdings Limited, Corona Remedies Pvt Ltd., Sanzyme Private Limited, Biocare Medical LLC, Lee BioSolutions Inc., MyBioSource Inc.
Table of Contents 1. Executive Summary2. Human Chorionic Gonadotropin Market Report Structure3. Human Chorionic Gonadotropin Market Trends And Strategies4. Human Chorionic Gonadotropin Market – Macro Economic Scenario5. Human Chorionic Gonadotropin Market Size And Growth…..27. Human Chorionic Gonadotropin Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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