Global Chondroitin Sulfate Market is anticipated to grow at a 3.0% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Chondroitin Sulfate Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global chondroitin sulfate market was estimated to be over US$ 360.0 Mn in 2018.It is anticipated to grow at a CAGR of 3.0% from 2019 to 2030.
The growth of the chondroitin sulfate market can be attributed to growing adoption of nutraceutical products which provides essential dietary needs and availability of novel chondroitin sulfate compositions. Moreover, rising incidences & prevalence of osteoarthritis is anticipated to further contribute to the growth of the global chondroitin sulfate market between 2019 and 2030.
Osteoarthritis, a long-term chronic disorder, is characterized by deterioration of cartilage in joints. This conditions leads to pain, impaired movement and stiffness. Although, incidence of osteoarthritis is majorly observed among geriatric population but several modifiable and non-modifiable risk factors, namely genetic predisposition, obesity, occupational injury, lack of exercise and trauma may lead to occurrence of such conditions. It is estimated that 40% of American adults are likely to develop symptomatic osteoarthritis in at least one hand by the age 85. Moreover, in the U.S., prevalence of symptomatic knee osteoarthritis among men and women of age 45 and above are 5.9 & 13.5 and 7.2 & 18.7 respectively.
Several factors namely, product reactions and fluctuating price of raw materials, and religious & social restrictions on chondroitin sulfate products sourced from certain sources are likely to restrain the growth of the chondroitin sulfate market. Reaction to this compound varies from individual to individual and can fluctuate from skin rash, swollen eyelids, and cerebral pain to stomach torment, loose bowels, swelling and skin rash, among others.
Browse key industry insights spread across 200 pages with market data tables & figures & charts from the report, Chondroitin Sulfate Market is anticipated to witness substantial CAGR from 2019 to 2030. in detail along with the table of contents:https://www.marketindustryreports.com/chondroitin-sulfate-market/118
Asia Pacific is estimated to account for the highest CAGR in chondroitin sulfate market during the forecast period. Rising incidence of osteoarthritis, and growing adoption of nutraceutical products to provide essential dietary needs are some of the key factors that are anticipated to propel the growth of the chondroitin sulfate market in his region. Improving economy, availability of cheap labor & raw materials, and favorable government regulations are other critical factors that are expected to spur its demand in the coming years.
The prominent players in the 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.
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