Comprehensive Human Chorionic Gonadotropin Market Analysis 2024: Size, Share, And Key Trends
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The human chorionic gonadotropin market size has seen strong growth in recent years, increasing from $0.87 billion in 2023 to $0.95 billion in 2024, representing a CAGR of 8.1%. This growth has been attributed to the rising prevalence of hypogonadism among the geriatric population, increased awareness of HCG among healthcare professionals and patients, a surge in fertility tourism, and improvements in healthcare facilities. The market is expected to continue its upward trajectory, reaching $1.31 billion by 2028 at a CAGR of 8.4%. Factors contributing to this growth in the forecast period include the increasing incidence of infertility, a rise in polycystic ovary syndrome cases, growing female infertility rates, and the rising use of HCG in veterinary medicine. Major trends anticipated to impact the market during this period include advancements in pregnancy detection technologies, innovative drug formulations, technological integration, a focus on research and development, and product innovation.
An increasing rate of infertility is expected to drive growth in the human chorionic gonadotropin market. Infertility refers to the inability to conceive after one year of unprotected intercourse, and the rate of infertility is rising due to factors such as delayed childbearing, lifestyle changes, environmental exposures, and medical conditions. Human chorionic gonadotropin (hCG) plays a crucial role in infertility treatments by stimulating ovulation in women and supporting testosterone production in men, thereby enhancing fertility outcomes. According to the World Health Organization, as of April 2023, infertility affected around 17.5% of the adult population, or roughly one in every six individuals worldwide, emphasizing the urgent need for improved access to affordable, high-quality fertility care. Therefore, the increasing rate of infertility is propelling growth in the human chorionic gonadotropin market.
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What Are The Key Trends That Influence Human Chorionic Gonadotropin Market Share Analysis?
Major companies in the human chorionic gonadotropin market are focused on creating 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 determine whether an individual is pregnant by detecting the presence of human chorionic gonadotropin (hCG) in their body. For instance, in June 2022, Proov, a U.S.-based medical equipment manufacturing company, introduced new hCG tests specifically designed for early pregnancy detection, enabling women to confirm pregnancy up to six days before their expected period. These tests work by identifying the presence of human chorionic gonadotropin (hCG) in urine and boast a high accuracy rate exceeding 99%. This innovation aims to provide women with a reliable and accessible means to monitor their pregnancy status earlier than traditional tests, empowering them to make informed decisions regarding their reproductive health.
Which Market Players Are Driving Growth In The 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.
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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The Human Chorionic Gonadotropin Global Market Report 2024 provides an overview of the human chorionic gonadotropinmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The human chorionic gonadotropin market forecast analyzes human chorionic gonadotropin market size, human chorionic gonadotropin market share, leading competitor and their market positions.
The Table Of Content For The Human Chorionic Gonadotropin Market Include
1. Human Chorionic Gonadotropin Market Executive Summary
2. Human Chorionic Gonadotropin Market Segments
3. Human Chorionic Gonadotropin Market Size And Template Market Growth Rate
4. Key Human Chorionic Gonadotropin Market Trends
5. Major Human Chorionic Gonadotropin Market Drivers
……
25. Key Mergers And Acquisitions In The Human Chorionic Gonadotropin Market
26. Top Human Chorionic Gonadotropin Companies
27. Human Chorionic Gonadotropin Market Opportunities And Strategies
28. Human Chorionic Gonadotropin Market, Conclusions And Recommendations
29. Appendix
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