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Human Chorionic Gonadotropin (HCG) is a hormone primarily produced during pregnancy that supports the normal development of an egg in a woman’s ovary and stimulates ovulation. It is a glycoprotein hormone composed of two subunits, an alpha and a beta subunit. HCG products are widely used for medical purposes such as assisting fertility treatments, detection of pregnancy and sex-linked disorders among others. Rapid diagnostic tests, pregnancy strips and solutions are commonly used consumer products containing HCG.
The 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 Dynamics:
Increasing fertility treatments: There has been a significant rise in fertility issues in urban areas owing to lifestyle changes and late pregnancies. This has augmented the demand for assisted reproductive technologies like In-vitro fertilization (IVF) which uses HCG hormone to trigger egg maturation and ovulation. According to the Centers for Disease Control, around 1.9% of all infants born in the U.S. in 2018 were conceived using assisted reproductive technology.
Advancing diagnostic capabilities: Technological advancements are enabling the development of advanced point-of-care testing devices with high sensitivity and accuracy for rapid detection of HCG levels. Compact self-testing kits can provide instant pregnancy diagnosis within few minutes. This fosters early detection and management of pregnancy complications.
Segment Analysis
Human chorionic gonadotropin (HCG) market is segmented into natural source extraction and recombinant technology. The natural source extraction segment currently dominates the market due to widespread availability and usage of HCG from natural sources such as urine and blood plasma. However, the recombinant technology segment is expected to exhibit highest growth over the forecast period owing to significant advantages such as consistent quality, free from infectious agents, and higher yield production with recombinant DNA technology.
PEST Analysis
Political: Government regulations pertaining to clinical research and product approval influence the market growth. Regulations ensure safety, efficacy and quality of HCG products.
Economic: Rising disposable incomes and healthcare expenditure in developing nations provide opportunities. However, high infrastructure setup costs related to recombinant technology production hamper market growth.
Social: Increasing infertility rates and growing awareness about assisted reproductive techniques positively impact the demand. Social stigma related to infertility issues in some regions act as a challenge.
Technological: Advancements in recombinant DNA technology enable large scale production of high quality HCG. However, high R&D investments required for technology development restrict market growth.
Key Takeaways
The global Human Chorionic Gonadotropin (HCG) market is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period of 2023 to 2030, due to increasing infertility rates worldwide and rising awareness about infertility management. The market size for HCG was estimated to be US$ 710.88 Mn in 2023.
Regional analysis: Asia Pacific region is expected to dominate the HCG market during the forecast period due to high fertility rates, growing medical tourism, increasing healthcare spending by governments in emerging economies such as India and China. According to estimates, China accounted for over 40% of the global recombinant HCG market in 2021.
Key players operating in the HCG market include 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 players are focusing on product approvals, new launches and incremental innovation 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
