Chondroitin Sulfate Market Size, Share, Growth, Trends and Industry Analysis Report, 2019 to 2025
The global chondroitin sulfate market was valued at USD 1.1 billion in 2018 and is estimated to grow at a CAGR of 3.2% from 2019 to 2025.
(firmenpresse) - The global chondroitin sulfate market size is expected to reach USD 1.4 billion by 2025, accelerating at a CAGR of 3.2% over the forecast period, according to a new report by Grand View Research, Inc. Increasing consumption of joint health supplements owing to rising prevalence of arthritis among obese and geriatric population is projected to drive the product demand.
Clinical efficacy and joint health benefits offered are the major factors triggering the demand for the product. Rising utilization of pharmaceutical grade sodium chondroitin sulfate to cure osteoarthritis is projected to drive industry growth. The market is highly influenced by Chinese dominated product supply, which as per the international nutraceutical industry is inferior and variable in terms of quality, concentration, has missing traceability, and subject to intentional adulteration. Therefore, manufacturers and raw material suppliers have numerous opportunities to supply quality and uniform products through auditable supply chain.
Challenges faced by the industry include adulteration of sodium chondroitin sulfate and the introduction of new joint health ingredients. Fluctuating raw material prices are anticipated to have a negative impact on the product.
However, increasing focus on cost-effective process is likely to bolster the volumetric production. The U.S., Germany, the U.K., Japan, and Brazil, among other countries, are the major potential markets for pharmaceutical as well as nutraceutical grade sodium chondroitin sulfate.
The market is fragmented and competitive and marked with the presence of key players across the globe, especially in China. Asian countries, especially Japan and China, are expected to observe remarkable growth over the forecast period. Regional jurisdiction, regulatory scenario, and the availability of raw materials are likely to be regional challenges for the industry.
Further key findings from the report suggest:
roitin sulfate market.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Sherry James
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Datum: 06.11.2019 - 09:37 Uhr
Sprache: Deutsch
News-ID 1553702
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Date of sending: 04.11.2019
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