Dublin, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The "Human Chorionic Gonadotropin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global human chorionic gonadotropin (HCG) market is on the verge of significant growth, with a projected Compound Annual Growth Rate (CAGR) of about 7.6% over the next few years.
Despite the challenges posed by the COVID-19 pandemic, factors such as increasing infertility rates, changing lifestyles, and heightened awareness of infertility treatment are expected to drive the market's expansion.
Key Highlights
Market Drivers and Challenges
The growth of the HCG market can be attributed to several factors, including the rising prevalence of infertility and hypogonadism, evolving lifestyles, and increased awareness of infertility treatment options. Erectile dysfunction, a symptom of hypogonadism, was prevalent in 72.2% of individuals globally in 2021. Additionally, the Centers for Disease Control and Prevention (CDC) reported that about 22% of couples in which the woman is aged 30-39 experienced difficulties conceiving their first child in 2022.
Opportunities and Market Trends
Increasing awareness of HCG among healthcare professionals and patients, combined with new product launches, is expected to bolster market growth. HCG is used as a tumor marker for various neoplasms, further contributing to market expansion. The availability of substitutes is a potential hindrance to market growth.
COVID-19 Impact and Recovery
The global COVID-19 pandemic led to reduced foot traffic in hospitals and clinics, negatively impacting the human chorionic gonadotropin market. Many infertile patients hesitated to seek assisted reproductive technology (ART) treatments during the pandemic, resulting in a decline in concluded ART cycles. However, as vaccinations progress and COVID-19 cases decline, the market is poised for recovery in the coming years.
Human Chorionic Gonadotropin Market Trends
Rising Demand in Female Infertility Treatment
Infertility is a global challenge, affecting both men and women. The use of HCG in infertility treatment has gained traction due to its vital role after embryo formation during pregnancy. Female infertility can result from various factors, including tubal disorders, uterine diseases, polycystic ovarian syndrome (PCOS), follicular disorders, and endocrine system disorders. With the increasing burden of female infertility worldwide, the demand for effective treatments is growing, driving the market's growth.
Recombinant Human Chorionic Gonadotropin Products on the Rise
Recombinant human chorionic gonadotropin products are anticipated to experience significant growth due to their availability in different strengths and dosages for individualized therapy. Demand for naturally extracted HCG hormone products is also increasing, driven by the introduction of new products and heightened consumer usage.
North America Leading the Way
North America is expected to dominate the human chorionic gonadotropin market over the forecast period. Well-established healthcare infrastructure, favorable reimbursement policies, and a growing burden of infertility in the region are contributing to market growth. The United States, in particular, exhibits a high prevalence of infertility, with approximately 19% of heterosexual women aged 15-49 experiencing difficulty getting pregnant.
Market Competitor Analysis
The human chorionic gonadotropin market features a competitive landscape comprising both global and regional players. Key market participants include Merck KGaA, Fresenius SE & Co. KGaA, Lupin Limited, Sanzyme, and Merck & Co. Inc., among others.
A selection of companies mentioned in this report includes
- Sanzyme
- Merck & Co. Inc.
- Ferring BV
- Fresenius Kabi AG
- Sun Pharmaceutical Industries Ltd
- Medix Biochemica (Lee BioSolutions Inc.)
- Scripps Laboratories
- Prospec-Tany Technogene Ltd
- Biocare Medical LLC
- Kamiya Biomedical Company
For more information about this report visit https://www.researchandmarkets.com/r/boszjf
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