Chondroitin Sulfate Market Sales Set to Rise with Concentrated Investment by Market Players, details
The global market for chondroitin sulfate is segmented by product type, their application & source.
[UKPRwire, Tue Jul 30 2019] Chondroitin sulfate is a sulfated glycosaminoglycan (GAG) composed of a chain of alternating sugars like N-acetylgalactosamine and glucuronic acid, which occurs naturally in the body & is generally found in cartilage around joints. It is an essential component of cartilage - the tough connective tissue that cushions the joints. Chondroitin sulfate is generally manufactured from the animal source, 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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Moreover, it also helps to reduce inflammation and pain. Chondroitin sulfate is also used as an eye drop for sore eyes; moreover, chondroitin sulfate also has veterinary uses. Chondroitin sulfate is mostly used in combination with glucosamine. Along with glucosamine, chondroitin sulfate has become a widely used dietary supplement for the treatment of osteoarthritis.
Chondroitin Sulfate Market Dynamics
Ointments, skin creams and injections containing chondroitin sulfate used by people suffering from osteoarthritis is a key driver for the growth of the Global Chondroitin Sulfate Market as osteoarthritis is one of the most common forms of arthritis affecting 20 million people in the USA alone. Injecting a solution that contains chondroitin sulfate and sodium hyaluronate into the eye protects the eye during cataract surgery further increasing the usability of this product and driving the demand in the global chondroitin sulfate market. Another factor that drives the market is the increased adoption of pets, as chondroitin sulfate together with glucosamine is utilized as a part of the veterinary prescription. In addition, it is used during cataract surgery, and as a solution for preserving corneas used for transplants. It is approved by the FDA for these uses. Chondroitin sulfate is also taken via mouth for HIV/AIDS, coronary illness, heart assault, muscle soreness after exercise and flaky skin (psoriasis). This is likely to boost the demand for chondroitin sulfate during the forecast period. Some chondroitin tablets may contain high levels of manganese, which could be problematic with long-term use. Other side effects may vary from person-to-person including diarrhea, constipation, and abdominal pain, bloating, diarrhea, constipation, headache, swollen eyelids, leg swelling, hair loss, skin rash, and irregular heartbeat. These factors are likely to hamper the growth of the global chondroitin sulfate market.
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Chondroitin Sulfate Market Segmentation
The global market for chondroitin sulfate is segmented by product type, their application & source. On the basis of product type, chondroitin sulfate is segmented as capsule form, tablet form & powder form, out of which tablet form is used in pharmaceuticals while the powder & capsule form is mainly used in dietary supplements. On the basis of their application chondroitin sulfate is segmented as pharmaceutical, dietary supplement, cosmetics & veterinary use. Application wise dietary supplement segment dominates over other application segments. In terms of source, chondroitin sulfate is segmented as bovine, porcine & others. Other sources of chondroitin sulfate include shark & other marine source and cow cartilage.
Chondroitin Sulfate Market Regional Overview
Biggest chondroitin sulfate producer & exporter in the global market is China which holds more than 75% of global chondroitin sulfate market output. North America & Europe are the major markets for chondroitin sulfate. The U.S., UK & Germany show high adoption rate for chondroitin sulfate as compared to other regions of the world due to rise in awareness towards osteoarthritis diagnosis among people, targeted efforts of government and non-governmental organizations towards osteoarthritis management, developed healthcare infrastructure, high prevalence of the disease in the region, etc. Developed countries such as Australia and Japan are favorable for the growth of the market. Developing countries like India, Brazil, and Italy show the potential growth during the forecast period. There is less awareness toward osteoarthritis in the underdeveloped countries, and the disease is often misdiagnosed which can restrain the growth of the market during the forecast period.
Chondroitin Sulfate Market Prominent Players
The global market for chondroitin sulfate is run by hundreds of market players, out of which most of them are from China. Some of the major players in the global chondroitin sulfate market are Sioux Pharm, Inc., Qingdao WanTuMing Biological Products Co., Ltd., TSI Group Ltd., Shandong Runxin Biotechnology Co., Ltd., Pacific Rainbow International, Inc., ZPD A/S. Synutra International, Inc., Summit Nutritionals International, Inc., Yantai Ruikangda Biochemical Products Co., Ltd., Bioiberica, S.A.U. Seikagaku Corporation, and Jiaxing Hengjie Biopharmaceutical Co., Ltd. & other prominent players
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