In our opinion: no. The word hormone comes from the Greek, meaning “I act through distance”.
The word was coined by Banting and Best in 1915 and was used to denominate those substances that, produced in one organ, their actions were performed elsewhere in the organism.
Thus, testosterone is a hormone, because it is produced in the testicles, exerting its action on skin, brain, etc. Similarly, thyroid hormones, estrogen and insulin qualify for the term “hormone”.
However, hCG has been found in EVERY human tissue, also in males and non pregnant females. Investigators are very intrigued regarding the presence of hCG, for example in lungs, liver, stomach, etc.