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.
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.
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Some of the prominent players in the Chondroitin Sulfate Market
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.
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.
Research Approach
As a standard protocol at MIR, all research assignments go through the following rigorous processes.
- Secondary Research
- Primary Research
- Market Size Estimation & Forecasting
- Data Validation & Triangulation
- Report Generation
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Table of Contents
- INTRODUCTION
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecasted Years – 2020 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
- Overview
- Drivers
- Barriers/Challenges
- Opportunities
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