HS Code:
Artificial mixtures of natural hormones (HS Code: 2937.29) include synthetic or compounded preparations of naturally occurring hormones used primarily in medical, veterinary, and research applications. These mixtures are critical in hormone replacement therapies, reproductive health treatments, and other pharmaceutical uses. They are often subject to strict regulatory oversight due to their impact on human and animal health.
Total Trade Volume
USD 1.2 billion
Data from 2022
Source
United Nations Comtrade Database
USD 350 million
29.2% of total trade of total trade
Increasing
USD 280 million
23.3% of total trade of total trade
Stable
USD 180 million
15.0% of total trade of total trade
Increasing
USD 120 million
10.0% of total trade of total trade
Increasing
USD 90 million
7.5% of total trade of total trade
Decreasing
Average Rate
5.8% ad valorem
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-USMCA)
Rising demand for hormone therapies
Increased trade volume due to aging populations and growing awareness of hormone-related disorders in developed markets
2021-2022
Shift toward biosimilars
Reduced costs and increased accessibility in emerging markets, boosting trade from countries like India
2020-2022
Regulatory tightening
Stricter import/export controls in the EU and US have slowed trade growth in non-compliant regions
2019-2022
The European Union introduced new guidelines for the import of artificial hormone mixtures, mandating additional safety testing and documentation.
March 2023
Potential delays in trade flows to the EU, with increased compliance costs for exporters.
A bilateral agreement reduced tariffs on pharmaceutical products, including hormone mixtures, between the US and India.
September 2022
Boosted exports from India to the US, with a projected 15% increase in trade volume for 2023.
China imposed new export controls on hormone mixtures citing domestic supply concerns and biotechnology security.
January 2023
Reduced global supply from China, creating opportunities for other exporters like Switzerland and Germany.