Chondroitin Sulfate Market by Application (Dietary Supplements, Veterinary, Pharmaceutical and Cosmetics), and Source (Porcine and Bovine) – Global Analysis & Forecast 2019-2030
Report ID : 118 | Published Date : May 2020 | Pages : 200 | Region : Global | Report Code : PH-7
Chondroitin Sulfate Market Overview and Introduction
Global Chondroitin Sulfate Market is estimated to be over US$ 360.0 Million in 2018. It is anticipated to grow at a 3.0% CAGR from 2019 to 2030.
Chondroitin sulfate is a type of sulfated glycosaminoglycan (GAG), which comprises of alternating chains of two major sugars, namely glucuronic acid and N-acetylgalactosamine. This chemical is commercially manufactured from animal sources, such as cow, swine and shark cartilages. Chondroitin sulfate is widely used in dietary supplements for treatment of osteoarthritis, it also finds application in treatment for osteoporosis (weak bones), HIV/AIDS acid reflux, interstitial cystitis and heart disease among others.
The global chondroitin sulfate market is driven rising demand for pet foods and rising preference for nutraceutical and pharmaceutical products globally. Moreover, rising incidences of osteoarthritis has been pivotal in contributing to the extensive growth of the global chondroitin sulfate market. Osteoarthritis is considered to be the most common form of joint disorders in the United States, with an estimated 30.8 million adults suffering from the same. However, adverse reactions arising from long-term utilization of this products coupled with religious & social barriers among several countries are likely to restrain the market to a certain extent.
Chondroitin Sulfate Market by Application
On the basis of application, the chondroitin sulfate market is segmented into dietary supplements, veterinary, pharmaceutical, cosmetics and other applications. The dietary supplements segment is estimated to account for the largest share in global chondroitin sulfate market. The large share of this application can be attributed to rising prevalence of osteoarthritis, and growing awareness regarding bone health among others.
Chondroitin Sulfate Market by Source
On the basis of source, the market can be segmented into porcine, bovine and other sources. Bovine source is estimated to account for the largest market share, owing to religious concerns and ethical issues there is limited use of porcine source.
Chondroitin Sulfate Market by Region
The global chondroitin sulfate market can be segmented into North America, Asia Pacific, Europe and Rest of World (ROW). North America will continue to dominate the global chondroitin sulfate market in the forecast period owing to factors such as high prevalence of osteoarthritis, and availability of wide range of chondroitin sulfate products among others. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, Korea, Japan and India. Factors such as rising customer awareness regarding dietary supplements, and high prevalence of bone disorders have been crucial in contributing to the growth of this segment.
Chondroitin Sulfate Market Prominent Players
The prominent players in the global chondroitin sulfate market are Bioiberica S.A.U., Sigma-Aldrich (Merck KGaA), Sioux Pharm, Inc., Jiaxing Hengjie Biopharmaceutical Co., Ltd., SEIKAGAKU CORPORATION, ZPD (Zeria Group), Synutra, Inc., Summit Nutritionals International, PACIFIC RAINBOW INTERNATIONAL, INC., and TSI Group Ltd. among others.