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(Health-NewsWire.Net, October 15, 2021 )
Market Overview
Chondroitin sulfate is a sulfated glycosaminoglycan (GAG) composed of a chain of alternating sugars like N-acetylgalactosamine and glucuronic acid. It is a natural chemical component of human connective tissues that are generally found in cartilage around bone joints in the human body.
Chondroitin sulfate is generally manufactured from an animal sources, such as bovine, porcine, shark, and other marine sources. Chondroitin sulfate is an alternative medicine for slowing the progression of osteoarthritis.
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Market Dynamics
The global chondroitin sulfate market growth is driven by the rising awareness towards joint health and the introduction of novel chondroitin sulfate combination products.
Increasing demand for nutraceutical products is expected to drive growth in the forecast period
Sodium chondroitin sulfate is used in dietary supplements and food products as thickeners, additives, foaming agents, preservatives, in health food, and in animal feed. It is extensively used due to its ability to treat pets suffering from joint pain and arthritis, including diseases such as chronic pain and aches from osteoarthritis, elbow dysplasia, and hip dysplasia. Food grade and animal feed grade applications are presumed to drive the market growth in the forecast period.
It is also used to improve digestive function, enhance liver function, lower blood sugar, and inhibit tumor metastasis. The growing popularity for its use in the treatment of osteoarthritis and for several other treatments is expected to benefit the overall market growth.
Growth in the pharmaceutical and personal care industry is expected to drive the market growth
Growth in the pharmaceutical and personal care industry owing to changing lifestyles and increasing healthcare expenditure may foster the product demand. The rising application of chondroitin sulfate in medicines is to cure joint pain and inflammation, which may drive the overall market growth. Growth in the personal care industry owing to increasing and personal care expenditure may drive the product market size.
The product is used in skin and hair repair creams and lotions owing to its ability to moisturize, heal and soothe skin. Chondroitin sulfate is also used in skincare products owing to its benefits such as anti-inflammatory properties and skins intercellular matrix reinforcement ability, thereby stimulating the product demand.
Market Segmentation
Global Chondroitin Sulfate Market - By Source
Swine
Shark
Bovine
Synthetic
Others
Global Chondroitin Sulfate Market - By Application
Pharmaceuticals
Cosmetics
Veterinary
Global Chondroitin Sulfate Market - By Distribution Channel
Hospital Pharmacy
Retail Pharmacy
Other
Global Chondroitin Sulfate Market - By Region
North America
South America
Europe
Asia Pacific
Middle East & Africa
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Competitive Landscape
The chondroitin sulfate market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include are FIDIA FARMACEUTICI S.P.A, GNOSIS S.p.A., Merck KGaA (Sigma-Aldrich, Inc), Synutra, Inc., Summit Nutritionals International, Nutramax Laboratories Inc., Bioiberica S.A.U, Pacific Rainbow International, Yantai Ruikangda Biochemical Products Co., Ltd., TSI Group Ltd among others.
The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the chondroitin sulfate market globally.
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DataM Intelligence
Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
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