Thursday, July, 18, 2019 12:41:16

Chondroitin Sulfate Market may have a steady growth over the forecast timeframe. Growth in pharmaceutical and personal care industry owing to changing lifestyle and increasing healthcare expenditure may foster the product demand. The rising application of chondroitin sulfate in medicines is to cure joint pain and inflammation, which may drive the overall market growth. Chondroitin sulfate is used in eye drops to cure dry eyes, moreover it also used in the solution used to preserve cornea while transplanting during cataract surgery.

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Chondroitin sulfate are also known as sulfated glycosaminoglycan (GAG) which is a chemical composed of alternative sugars like N-acetylgalactosamine and glucuronic acid occurring normally around the joints in cartilage. It is obtained from cartilages of bovine, poultry, porcine, fish and sharks and sometimes from avian and microbial sources. Chondroitin sulfate is used in treatment of ailments including heart diseases, osteoporosis, acid reflux, joint pains and inflammation, interstitial cystitis and also used with iron in a complex to treat anemia. Osteoporosis accounts at over 8.9 million fracture annually. The product is primarily used in treatment of osteoporosis owing to its superior property to slower down the tearing of cartilages thereby increasing the product demand in pharmaceutical industry.

Growth in personal care industry owing to increasing and personal care expenditure may drive the product market size. The global cosmetic market for personal care product was valued at over USD 570 billion in 2018. The product is used in skin and hair repair creams and lotions owing to its ability to moisturize, heal and soothe skin. Chondroitin sulfate is also used in skin care products owing to its benefits such as anti-inflammatory properties and skin’s intercellular matrix reinforcement ability, thereby stimulating the product demand.

Chondroitin sulfate is also used in food supplements for pets including dogs and cats. It provides healthy and smooth functioning of cartilage and joints and minimizes swelling and damage in cartilage by increasing joint lubrication. Global pet food supplements market accounted at over USD 85 billion in 2018. Increasing demand for pet food owing to rising trends for pet adoption may foster the product market as it aids in rebuilding damaged cartilage and enhances new cartilage production in pets.

Chondroitin sulfate is consumed in tablet and capsule form. These tablets are used to cure orthopedic diseases like osteoporosis, osteoarthritis and kashin-beck disease. The product is also available in powdered form which offers nutritional value and act as natural anti-inflammatory substance by easing the symptoms of osteoarthritis in cats and dogs. The product when consumed in powdered form is easy to digest and get absorbed readily, which may boost industry growth.

North America led by Canada and the U.S chondroitin sulfate market size may see a significant growth in foreseeable timeframe. The U.S pet food market may surpass over USD 30 billion by the year 2022. Increasing trend for pet adoption among millennials and generation Z may drive the product demand. Chondroitin sulfate is used as an organic food supplement in pet food to strengthen bones and ligaments of aged dogs and cats thereby driving the regional industry growth.

Europe driven by Germany, France and UK chondroitin sulfate market size should have a significant growth owing to increasing demand for personal care products. Europe cosmetic and personal care products market accounted for USD 86 billion in 2017. Chondroitin sulfate is widely used as an anti-inflammatory and skin soothing agent in lip balm, moisturizers, skin serums and essence and other makeup products. Furthermore, increasing demand for anti-aging products is likely to further propel the regional industry growth.

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Asia Pacific led by India, Japan, and China chondroitin sulfate market demand is expected to gain a significant growth over the projected timespan. Increasing prevalence of orthopedic diseases in people owing to changing lifestyle and increasing alcohol intake may drive the product market. The population of elderly people is expected to surpass at over 173 million by 2026, which are more prone towards orthopedic diseases. Chondroitin sulfate is used to cure orthopedic diseases like osteoporosis and osteoarthritis, which may boost the regional product demand.

Global chondroitin sulfate market is moderately fragmented. Major operators in this market includes Qingdao WanTuMing Biological Products, Shandong Runxin Biotechnology, Sioux Pharm, Pacific Rainbow International, TSI Group, ZPD, Synutra Ingredients, Summit Nutritionals International, Yantai Ruikangda Biochemical Products, Bioiberica, and S.A.U. Seikagaku Corporation. Companies are investing in research and development to identify new uses and improve the efficiency of existing product for further applications.