Global Chondroitin Sulfate Market 2021: By Source (Bovine, Swine, Poultry, Shark, Synthetic), By Application (Pharmaceuticals, Cosmetics, Veterinary Use, Others)
Global Chondroitin Sulfate Market is an upcoming market research report title by Trusted Business Insights, which is in the process of detailed study and analysis, and preparation. Various trends, restraints, growth opportunities, drivers, revenue details, and threats are explained in detail in the report. The report also offers insightful and detailed profiles of the key players in the global market.
The Global Chondroitin Sulfate market size was valued at USD $0.68 Billion in 2020, USD $0.71 Billion in 2021, forecasted to reach USD $0.73 Billion in 2022, and is projected to reach USD $0.93 Billion by 2030, and is anticipated to expand at a CAGR of 3.5% over the forecast period from 2020 to 2030.
Overview
Chondroitin sulfate is ideally procured from animal sources, including cow and shark cartilage. Chondroitin sulfate is often used in combination with other ingredients such as glucosamine sulfate, glucosamine hydrochloride, or N-acetyl glucosamine, and manganese ascorbate. Chondroitin sulfate is also known as sulfated glycosaminoglycan (GAG), and is produced using N-acetylgalactosamine and glucuronic acid. Chondroitin sulfate is considered an alternative medicine to improve joint function. Commercial chondroitin sulfate is a mixture of chondroitin sulfate and glucosamine. Apart from improving joint functions, chondroitin sulfate is used in eye drops and is used to cure sore eyes. Connective tissue and cartilage and joints of humans contain chondroitin sulfate. Chondroitin sulfate is generally used in combination with different ingredients such as glucosamine hydrochloride and manganese ascorbate, to treat osteoarthritis. FDA has approved chondroitin sulfate for a variety of uses.
Dynamics
One of the major factors driving growth of the global chondroitin sulfate market is rising demand for nutraceutical products. Chondroitin sulfate is used to treat cataract, osteoarthritis, and urinary tract infections. Growing prevalence of these conditions is projected to drive demand for chondroitin sulfate. Chondroitin sulfate is also used as an ingredient is medicines to enhance liver function, improve digestive function, inhibit tumor metastasis, and lower blood sugar. Sodium chondroitin sulfate is widely used in food products and dietary supplements as additives, thickeners, preservatives, and foaming agents. Owing to its ability to treat arthritis and joint pain, it is also widely used in animal feed. Increasing R&D activities in developed economies to reduce operational costs and improve quality is projected to support demand for chondroitin sulfate.
Global Chondroitin Sulfate Market Segment Analysis:
By Source: Among the source segments, the bovine segment is projected to account for highest revenue share in the global market, and is projected to continue its dominance over the forecast period. This growth is attributed to its wide usage in various applications such as pharmaceuticals, nutraceuticals, and animal feed.
By Product: The pharmaceutical segment has been gaining more traction among the application segments as compared to other segments, owing to its wide use in treatments of various diseases – including osteoarthritis – and in production of medicines to enhance liver function, lower blood sugar, and improve digestive function.
Global Chondroitin Sulfate Market Regional Analysis:
The market in North America is expected to account for highest revenue share in the global chondroitin sulfate market over the forecast period. This can be attributed to expansion of the pharmaceutical industry in the US and approval for a wide range of uses by the FDA. Increasing use in cataract surgery, to treat cholesterol, and in eye drop formulations is expected to continue to drive demand for chondroitin sulfate in countries in the region.
Asia Pacific is projected to register the fastest revenue growth rate, and this is attributed to increasing prevalence of osteoarthritis and growing consumer awareness about benefits of consuming dietary supplements.
Below are the leading companies profiled in this Chondroitin Sulfate Market Report:
- Aoxing Biotechnology Intl Co. Ltd.
- Arnet Pharmaceutical Corp.
- BeiJing Geyuantianrun Bio tech Co. Ltd.
- Bio-gen Extracts Private Limited
- Bioiberica S.A.U.
- BRF
- FIDIA FARMACEUTICI S.P.A.
- GNOSIS S.p.A.
- HeBei SanXin Industrial Group
- Jiaxing Hengjie Biopharmaceutical Co. Ltd.
- Merck KGaA (Sigma-Aldrich, Inc.)
- Pacific Rainbow International Inc.
- Qingdao Wan toulmin Biological Products Co. Ltd
- SEIKAGAKU CORPORATION
- Shandong Focuschem Biotech Co. Ltd.
- Sigma-Aldrich, Inc.
- Sino Siam Biotechnique Company Limited
- Solabia Group
- Summit Nutritionals International Inc.
- Synutra International Inc.
- TSI Group Ltd.
- ZPD
Global Chondroitin Sulfate Market Segmentation:
By Source
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
By Application
- Pharmaceuticals
- Cosmetics
- Veterinary Use
- Others
This research comprehensively answers the following 9 important questions:
- Q.1. What are some of the most promising growth trends in the Chondroitin Sulfate market worldwide?
- Q.2.Which segments and sub-segments will grow at a faster pace and why? Which segment is nearing the peak and demand saturation?
- Q.3.Which region will witness a higher growth rate and why? Which region might see a slower or negative growth region?
- Q.4.What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in Chondroitin Sulfate market?
- Q.5.What are the business risks and who pose challenges to the global leaders and are competitive threats in this Chondroitin Sulfate market?
- Q.6.What are the emerging trends post COVID-19 reshuffle in this Chondroitin Sulfate market and the what are reasons behind these trends and do they translate in global exploration?
- Q.7. Who are the major global and regional players in the Chondroitin Sulfate market? Which are the strategic initiatives key players are pursuing for business growth?
- Q.8.Which are the competing products in Chondroitin Sulfate market and how big of a threat do they pose for loss of market share by material or product substitution?
- Q.9.What M & A activity has occurred in the last 5 years and what is its impact on the Chondroitin Sulfate industry?
Chapter 1 Methodology and Scope
- 1.1 Market definitions
- 1.2 Base estimation & working
- 1.2.1 North America
- 1.2.2 Europe
- 1.2.3 APAC
- 1.2.4 LATAM
- 1.2.5 MEA
- 1.3 Forecast calculation
- 1.3.1 COVID-19 impact calculations on industry forecast
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
- Chapter 2 Executive Summary
- 2.1 Chondroitin Sulfate industry 360° synopsis, 2017 - 2028
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