HS Code:
Estrogens, classified under HS Code 2937.23, are a group of steroid hormones primarily used in hormone replacement therapy, contraceptives, and treatment of menopausal symptoms. This category includes natural and synthetic estrogens such as estradiol, estriol, and ethinylestradiol. They play a critical role in the pharmaceutical industry, with significant demand driven by women's health products. Global trade in estrogens is influenced by regulatory frameworks, patent protections, and advancements in biotechnology for synthetic hormone production.
Total Trade Volume
USD 2.5 billion
Data from 2022
Source
United Nations Comtrade Database
USD 800 million
32% of total trade of total trade
Increasing
USD 600 million
24% of total trade of total trade
Stable
USD 400 million
16% of total trade of total trade
Increasing
USD 300 million
12% of total trade of total trade
Increasing
USD 200 million
8% of total trade of total trade
Stable
Average Rate
6.5%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like EU-US TTIP provisions)
Rising demand for hormone replacement therapies
Increased trade volume in developed markets due to aging populations, particularly in North America and Europe
2021-2022
Growth in generic estrogen production
Emerging markets like India are becoming key exporters, driving down prices and increasing accessibility
2020-2022
Shift towards bioidentical hormones
Growing consumer preference for natural over synthetic estrogens is reshaping production and trade patterns
2019-2022
The European Union introduced stricter guidelines on the import of synthetic estrogens, requiring additional safety data and compliance with REACH regulations.
March 2023
Potential delays in trade flows to the EU market and increased compliance costs for exporters.
A new bilateral agreement reduced tariffs on pharmaceutical products, including estrogens, between the US and India, boosting export potential for Indian manufacturers.
September 2022
Expected increase in trade volume by 15% over the next two years between the two countries.
Breakthroughs in biotechnological production methods for estrogens have lowered production costs and improved scalability for manufacturers in China and Germany.
January 2023
Likely to increase competitiveness of these countries in the global market, potentially reducing prices.