Press release
Human Chorionic Gonadotropin Market Report 2024: Global Developments in Fertility and Medical Applications
Human Chorionic Gonadotropin Market Report
The new report published by The Business Research Company, titled Human Chorionic Gonadotropin Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, 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 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%.
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What Is Driving The Growth Of The Global Human Chorionic Gonadotropin Market?
Rising Infertility Rates to Fuel Growth In Human Chorionic Gonadotropin Market
An increasing rate of infertility is expected to drive the growth of the human chorionic gonadotropin market going forward. Infertility refers to the inability to conceive after at least one year of consistent, unprotected intercourse. The infertility rate is increasing with the growing prevalence of individuals and couples experiencing difficulties in conceiving due to factors such as delayed childbearing, lifestyle changes, environmental exposures, and medical conditions. Human chorionic gonadotropin (hCG) is used in infertility treatments to stimulate ovulation in women and support testosterone production in men, facilitating the release of eggs and improving fertility outcomes. For instance, in April 2023, according to the World Health Organization, a Switzerland-based intergovernmental organization, infertility affected around 17.5% of the adult population, or roughly one in every six people worldwide, highlighting the critical need to improve access to inexpensive, high-quality fertility care for individuals in need. Therefore, an increasing rate of infertility is driving the growth of the human chorionic gonadotropin market.
What Is The Key Trend In The Global Human Chorionic Gonadotropin Market?
hCG Test Kits Enhance Early Pregnancy Detection
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.
How Is The Global Human Chorionic Gonadotropin Market Segmented?
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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How Is The Competitive Landscape Of The Global Human Chorionic Gonadotropin Market?
Major companies operating in the human chorionic gonadotropin 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.
Contents Of The Global Human Chorionic Gonadotropin Market
1. Executive Summary
2. Human Chorionic Gonadotropin Market Report Structure
3. Human Chorionic Gonadotropin Market Trends And Strategies
4. Human Chorionic Gonadotropin Market - Macro Economic Scenario
5. Human Chorionic Gonadotropin Market Size And Growth
…..
27. Human Chorionic Gonadotropin Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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