Global Human Chorionic Gonadotropin (HCG) Market, by Product Type (Human Chorionic Gonadotropin and Recombinant Human Chorionic Gonadotropin), by Therapeutic Application (Male Hypogonadism, Female Infertility Treatment, Oligospermic Treatment, Cryptorchidism Treatment, Chronic Pain and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa) is estimated to be valued at US$ 710.88 Mn in 2022 and is expected to exhibit a CAGR of 6.5% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Major players operating in the global human chorionic gonadotropin market are focused on Research and development (R&D) to expand their product portfolio. For instance, in September 2021, Pfizer Inc. a pharmaceutical company and OPKO Health Inc., a pharmaceutical company had announced that the U.S. Food and Drug Administration extended the review period for the Biologics License Application for Somatrogon, a long-acting human growth hormone (HCG) molecule.
Global Human Chorionic Gonadotropin (HCG) Market – Impact of Coronavirus (COVID-19) Pandemic
Lockdown or shutdown was imposed in many countries globally, which had a negative impact on the economy of the private healthcare sector globally. This lockdown resulted in the closure of industrial establishments, except manufacturing of essential commodities, and disruption in the supply chain of products. Thus, the COVID-19 pandemic has affected the economy in three main ways: by directly affecting the production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Supply chain and manufacturing activities in North America, Asia Pacific, Europe, and other global regions have been disrupted due to lockdown. Moreover, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources, which are required to ensure safety in hospitals and provide treatment to patients with other diseases, which has also impacted the overall healthcare market negatively.
Browse 36 Market Data Tables and 34 Figures spread through 178 Pages and in-depth TOC on “Global Human Chorionic Gonadotropin (HCG) Market”- Forecast to 2030, Global human chorionic gonadotropin (HCG) Market, by Product Type (Human Chorionic Gonadotropin and Recombinant Human Chorionic Gonadotropin), by Therapeutic Application (Male Hypogonadism, Female Infertility Treatment, Oligospermic Treatment, Cryptorchidism Treatment, Chronic Pain and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/human-chorionic-gonadotropin-market-1011
Moreover, increasing prevalence of chronic pain is expected to drive the market growth during the forecast period. For instance, according to the data provided by the Centres for Disease Control and Prevention in November 2020, 20.4% of adults had chronic pain and 7.4% of adults had chronic pain that frequently limited life or work activities in 2019 in the U.S.
Key Takeaways of the Global Human Chorionic Gonadotropin (HCG) Market:
- Global human chorionic gonadotropin (HCG) market is expected to exhibit a CAGR of 6.5% during the forecast period due increase in prevalence of cryptorchidism and the subsequent need for treatment with human chorionic gonadotropin (HCG). For instance, according to the data provided by the National Center for Biotechnology Information in June 2022, about 3% of full-term and 30% of premature male infants are born with one or both testicles undescended. Approximately 80% of cryptorchid testes descend by the third month of life.
- On the basis of therapeutic application, female infertility treatment segment is expected to drive the market growth, owing to increasing prevalence of infertility in females. For instance, according to an article published in the Clinical Journal of Obstetrics and Gynecology, in October 2020, infertility was the fifth most serious global disability as recognized by the World Health Organization (WHO) and it affected one out of every 6 couples worldwide.
- Among product type, human chorionic gonadotropin segment is expected to drive the market growth over the forecast period, owing to increasing prevalence of infertility. For instance, according to the data provided by the Center for Reproductive Medicine (CCRM) Fertility, which is a fertility clinic network, stated that in June 2022, about 10% of women in the U.S. have infertility
- Major players operating in the global human chorionic gonadotropin (HCG) 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, and Corona Remedies Pvt. Ltd
