Published on : Dec 28, 2017
Albany, New York, December 28, 2017: The global chondroitin sulfate market is likely to witness steady growth during the forecast period 2017-2025, according to a new research report added to the repository of Market Research Hub (MRH). The report titled “Chondroitin Sulfate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025” offers information on the key factors that will impact market growth of chondroitin during the assessment period. According to the report, the global chondroitin market is likely to witness a CAGR of over 3% through 2025, and reach a valuation of over US$ 457 Mn by the end of forecast period.
Application in managing osteoarthritis remain one of the leading drivers for increasing demand for chondroitin sulfate. Usually sourced from cow cartilage and shark, chondroitin sulfate is usually used as an ingredient in dietary supplements that can slow down the effects of osteoarthritis. The dietary supplements containing chondroitin also help in reducing pain and inflammation that are associated with joint problems. The demand for chondroitin sulfate from dietary supplements industry is likely to create opportunities for players in this market.
The demand for chondroitin sulfate is also increasing on account of macroeconomic factors such as rising disposable income in emerging economies. A number of countries in Asia Pacific, especially China are focusing on boosting healthcare services, and there has been an increase in awareness regarding the different options available for managing chronic ailments. Awareness about the benefits of consuming dietary supplements that contain chondroitin sulfate are fuelling greater adoption among end-users in these emerging economies.
Although there is a huge potential for use of chondroitin, its use has been impeded by regulations and cultural concerns. As it is sourced from cow, many consumers in India do not use it as it is against the religious principles. Also, concerns about the side effects of chondroitin have meant that it has failed to become a mainstream option for consumers.
North America, led by the U.S., continues to be a leading player in the global chondroitin market. The market in North America is driven by surging demand from the vast dietary supplements industry in the region. There is also a growing tendency among consumers in the U.S. to opt for alternative medicine, which is also fuelling the demand in the region. In addition to the U.S., countries in Asia Pacific are likely to offer growth opportunities to key players during the assessment period. Some of the leading companies profiled in the report include Sioux Pharm, Inc., Shandong Runxin Biotechnology Co., Ltd., Qingdao WanTuMing Biological Products Co., Ltd., Yantai Ruikangda Biochemical Products Co., Ltd., Pacific Rainbow International, Inc., TSI Group Ltd., , and Summit Nutritionals International, Inc.
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