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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.
OverviewChondroitin 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.
DynamicsOne 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:
Chapter 1 Methodology and Scope