Chondroitin Sulfate Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe
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.
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
Access
full research report on global chondroitin sulfate market:
www.grandviewresearch.com/industry-analysis/chondroitin-sulfate-market
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Created on Nov 6th 2019 08:28. Viewed 363 times.