13-Mar-2020: The global chondroitin
sulfate market size is expected to reach USD 1.4 billion
by 2025, accelerating at a CAGR of 3.2% over the forecast period, according to
a new report by Grand View Research, Inc. Increasing consumption of joint
health supplements owing to rising prevalence of arthritis among obese and
geriatric population is projected to drive the product demand.
Clinical efficacy
and joint health benefits offered are the major factors triggering the demand
for the product. Rising utilization of pharmaceutical grade sodium chondroitin
sulfate to cure osteoarthritis is projected to drive industry growth. The
market is highly influenced by Chinese dominated product supply, which as per
the international nutraceutical industry is inferior and variable in terms of
quality, concentration, has missing traceability, and subject to intentional
adulteration. Therefore, manufacturers and raw material suppliers have numerous
opportunities to supply quality and uniform products through auditable supply
chain.
Challenges faced by
the industry include adulteration of sodium chondroitin sulfate and the
introduction of new joint health ingredients. Fluctuating raw material prices
are anticipated to have a negative impact on the product. However, increasing
focus on cost-effective process is likely to bolster the volumetric production.
The U.S., Germany, the U.K., Japan, and Brazil, among other countries, are the
major potential markets for pharmaceutical as well as nutraceutical grade
sodium chondroitin sulfate.
The market is
fragmented and competitive and marked with the presence of key players across
the globe, especially in China. Asian countries, especially Japan and China,
are expected to observe remarkable growth over the forecast period. Regional
jurisdiction, regulatory scenario, and the availability of raw materials are
likely to be regional challenges for the industry.
In
depth research report on Chondroitin Sulfate Market
Further key findings from the report suggest:
·
The U.S. market, in terms of volume, is anticipated to reach
603.5 tons by 2025
·
Chondroitin sulfate is regulated and approved as a
symptomatic slow-acting drug for osteoarthritis (SYSADOA) in Europe and its
intake is preferred along with glucosamine
·
NutriScience Innovations, LLC, a prominent manufacturer of
sodium chondroitin sulfate in the U.S., uses raw materials of European origin
and produces high-quality chondroitin sulfate 90% USP without using any organic
solvent
·
TSI Group Ltd.; Qingdao Wan tulmin Biological Products Co.
Ltd.; BRF; HeBei SanXin Industrial Group; Bioiberica S.A.U.; Sigma-Aldrich,
Inc.; Sino Siam Biotechnique Company Limited; Bio-gen Extracts Private Limited;
ZPD; and SEIKAGAKU CORPORATION are some of the key companies present in the
chondroitin sulfate market.
Grand View Research
has segmented the global chondroitin sulfate market report on the basis of
source and region:
Chondroitin Sulfate Source Outlook (Volume, Tons; Revenue,
USD Million, 2014 - 2025)
·
Bovine
·
Nutraceuticals
·
Pharmaceuticals
·
Animal Feed
·
Personal Care & Cosmetics
·
Others
·
Swine
·
Nutraceuticals
·
Pharmaceuticals
·
Animal Feed
·
Personal Care & Cosmetics
·
Others
·
Poultry
·
Nutraceuticals
·
Pharmaceuticals
·
Animal Feed
·
Personal Care & Cosmetics
·
Others
·
Shark
·
Nutraceuticals
·
Pharmaceuticals
·
Animal Feed
·
Personal Care & Cosmetics
·
Others
·
Synthetic
·
Nutraceuticals
·
Pharmaceuticals
·
Animal Feed
·
Personal Care & Cosmetics
·
Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
