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The global Human Chorionic Gonadotropin (HCG) market is a well-established market for fertility products used to assist with fertility treatments and monitoring pregnancy. HCG is primarily utilized in assisted reproductive technology procedures like in-vitro fertilization (IVF) to help induce ovulation and assist with embryo implantation. It also plays a key role in diagnosing early pregnancy by detecting the presence of HCG in urine. The global demand for HCG has witnessed steady growth in recent years due to the rising prevalence of infertility worldwide attributed to changing lifestyles, increasing stress levels, obesity, and genital tract infections. Delayed pregnancy plans and rising cases of polycystic ovarian syndrome (PCOS) have further contributed to the growth of the HCG market.
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:
Innovation and developments in fertility diagnosis products is a major trend witnessed in the HCG market. IVF procedures now encompass pre-implantation genetic testing which involves testing embryos for genetic conditions before transfer. Similarly, fertility monitors have become advanced to allow early tracking of ovulation using techniques like quantitative HCG detection. Continuous investments in recombinant DNA technology have also enabled mass-scale production of urinary and recombinant HCG variants aiding their penetration in low and middle-income countries offering infertility treatments. The growing adoption of infertility treatment across various nations indicates a positive outlook towards the worldwide HCG market over the forecast period.
Porter’s Analysis
Threat of new entrants: Low, as there are high capital requirements and established key players.
Bargaining power of buyers: Moderate, as HCG has few substitutes and customers have some choices.
Bargaining power of suppliers: Moderate, as key players source raw materials from select suppliers.
Threat of new substitutes: Low, as no close substitute for HCG is available currently.
Competitive rivalry: High, as the market has few large players and the product has no major differentiation.
Key Takeaways
The global human chorionic gonadotropin (HCG) market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America is expected to hold a major share of the human chorionic gonadotropin market owing to rising awareness about HCG and its applications. The region is also expected to witness fastest growth due to growing obesity concern. Europe is also an important market due to growing healthcare infrastructure and support for infertility treatment.
Key players operating in the human chorionic gonadotropin 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.
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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
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
