Chondroitin Sulfate Market Value to Reach US$457.7 mn by 2025
The global chondroitin sulfate market is anticipated to witness a sluggish growth in the coming years, as reported by Transparency Market Research (TMR). The vendors in the market are adopting the use of clinical trials for new products, which could give them a strategic advantage over their competitors. The industry is somewhat crippled with the recent identification of over-sulfated chondroitin sulfate as a heparin contaminant. Yet, vendors are being innovative in their approach. In 2017, Gnosis obtained a no objection certificate for non-animal chondroitin from the FDA. Such deliberate attempts toward innovations by vendors is predicted to play a substantial role in the providing an impetus to market growth, and opportunities for vendors in the global chondroitin sulfate.
Some of the key vendors operating in the global chondroitin sulfate market are Sioux Pharm, Inc., Qingdao WanTuMing Biological Products Co., Ltd., Shandong Runxin Biotechnology Co., Ltd., and TSI Group Ltd.TMR predicts that the the global chondroitin sulfate market is likely to exhibit a CAGR of 3.3% between 2017 and 2025. At this pace, the global chondroitin market will reach US$457.7 mn by the end of 2025, from US$343.9 mn in 2016.
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Among the application segments, dietary supplements is expected to emerge dominant with the highest market share in the coming years. Geographically, North America is prognosticated to be the leading region in the global chondroitin sulfate market over the forecast period.
Rising Incidence of Osteoarthritis to Propel Market
Salves, skin creams and infusions containing chondroitin sulfate likewise utilized by individuals enduring osteoarthritis, which is a key driver for the development of the global Chondroitin Sulfate market as osteoarthritis is a standout amongst the most widely recognized types of joint inflammation influencing 20 million individuals in USA alone.Generally utilized together with glucosamine it is additionally utilized as a part of veterinary prescription. Likewise taken by mouth for HIV/AIDS, coronary illness, heart assault, muscle soreness after exercise and flaky skin (psoriasis). Notwithstanding being utilized as an eye drop for sore eyes, it is utilized in medical procedures, and as an answer for safeguarding corneas utilized for transplants. Infusing an answer that contains chondroitin sulfate and sodium hyaluronate into the eye secures the eye during waterfall medical procedure additionally expanding the convenience of this item and further driving the demand in the global chondroitin sulfate market.
Reactions of Product May Hamper Growth
Despite the fact that any clinical symptoms or overdoses of chondroitin sulfate have not been distinguished in clinical examinations, there is some worry about the health of chondroitin sulfate since it originates from animal sources. Some chondroitin tablets may contain abnormal amounts of manganese, which could be dangerous with long haul utilize. Opposite reactions which may fluctuate from individual to individual incorporate loose bowels, blockage and stomach torment, swelling, the runs, clogging, cerebral pain, swollen eyelids, leg swelling, male pattern baldness, skin rash, and unpredictable pulse. These variables are probably going to limit market development of the global Chondroitin Sulfate market. Also, social and religious restraints over sure immature countries could posture danger to the global chondroitin sulfate market.
In any case, factors, for example, the expanding occurrence of osteoarthritis around the world, the rising mindfulness with respect to joint health, and the dispatch of new chondroitin sulfate mixes will have positive effect on the general market.