The global Human Chorionic Gonadotropin (HCG) market is estimated to be valued at US$ 710.88 million in 2022 and is expected to exhibit a CAGR of 6.5% over the forecast period 2022-2030.

A) Market Overview:

Human Chorionic Gonadotropin (HCG) is a hormone produced during pregnancy. It plays a crucial role in maintaining pregnancy by stimulating the corpus luteum to produce progesterone. HCG is used in the medical field for various purposes, including fertility treatment and early pregnancy detection. It is available in various forms such as injections, tablets, and urine pregnancy test kits. The increasing demand for fertility treatment and the rising awareness about early pregnancy detection are driving the growth of the Human Chorionic Gonadotropin (HCG) market.

B) Market Dynamics:

The Human Chorionic Gonadotropin (HCG) Market Size is driven by two primary factors - the increasing demand for fertility treatment and the rising awareness about early pregnancy detection.

One of the major driving factors for the market is the increasing prevalence of infertility. According to the World Health Organization, infertility affects around 15% of couples worldwide. The growing number of couples seeking fertility treatment is expected to boost the demand for HCG. HCG is commonly used in assisted reproductive technologies such as in vitro fertilization (IVF) and intrauterine insemination (IUI) to induce ovulation and improve the chances of pregnancy.

Another driver for the market is the rising awareness about early pregnancy detection. Many women prefer to know about their pregnancy at the earliest possible stage for better prenatal care. HCG urine pregnancy test kits are widely used for early detection of pregnancy. These kits are convenient, affordable, and provide accurate results, which has led to their increasing adoption.

C) Segment Analysis:

The Human Chorionic Gonadotropin (HCG) market can be segmented based on the type of product and end-users. Based on product type, the market can be further divided into injections, tablets, and urine pregnancy test kits. The urine pregnancy test kits segment dominates the market, owing to their ease of use, affordability, and availability over-the-counter. The increasing availability of urine pregnancy test kits in pharmacies and online platforms has further contributed to the segment's dominance in the market.

D) PEST Analysis:

Political: There are no significant political factors directly influencing the Human Chorionic Gonadotropin (HCG) market.

Economic: The increasing disposable income and improving healthcare infrastructure in emerging economies are driving the growth of the Human Chorionic Gonadotropin (HCG) market.

Social: The growing awareness about family planning and the importance of early pregnancy detection in ensuring a healthy pregnancy are contributing to the market growth.

Technological: Advancements in technology have led to the development of more accurate and convenient urine pregnancy test kits, further boosting the market growth.

E) Key Takeaways:

- The global Human Chorionic Gonadotropin (HCG) market is expected to witness high growth, exhibiting a CAGR of 6.5% over the forecast period, due to increasing demand for fertility treatment and rising awareness about early pregnancy detection.
- Regionally, North America dominates the market, followed by Europe, owing to the well-established healthcare infrastructure, high healthcare expenditure, and increasing prevalence of infertility in these regions.
- Key players operating in the global Human Chorionic Gonadotropin (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, and Corona Remedies Pvt. Ltd.

In conclusion, the global Human Chorionic Gonadotropin (HCG) market is expected to witness significant growth over the forecast period. The increasing demand for fertility treatment and the rising awareness about early pregnancy detection are driving the market's expansion. The dominance of the urine pregnancy test kits segment and the growing prevalence of infertility contribute to the market's growth. Key players in the market are focusing on product innovation and strategic partnerships to gain a competitive edge.