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Chondroitin Sulfate Market Report 2024: Strategies And Recent Developments | Seikagaku Corporation, Synutra Ingredients, Yantai Ruikangda Biochemical Products Co.ltd., TSI Group Ltd., Sioux Pharm, Summit Nutritionals International Inc., ZPD A/S, Sino Siam
Chondroitin Sulfate Market Trends
The Business Research Company offers in-depth market insights through Chondroitin Sulfate Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The chondroitin sulfate market size has grown steadily in recent years. It will grow from $1.38 billion in 2023 to $1.44 billion in 2024 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to growing aging population and joint health awareness, prevalence of osteoarthritis and joint disorders, expansion of dietary* supplement industry, consumer interest in natural and nutraceutical products, rise in sports and fitness activities..
The chondroitin sulfate market size is expected to see strong growth in the next few years. It will grow to $1.76 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to expanding applications in veterinary medicine, research advances and clinical validation, global rise in lifestyle-related joint issues, incorporation in functional foods and beverages, strategic marketing and health campaigns.. Major trends in the forecast period include focus on sustainable sourcing, advancements in extraction and production technologies, growth in pet nutraceuticals, awareness of joint health benefits, global market expansion..
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Market Segmentation:
The chondroitin sulfate market covered in this report is segmented -
1) By Type: Capsule Form, Tablet Form, Powder Form
2) By Source: Bovine, Swine, Poultry, Shark, Synthetic
3) By End Users: Pet Food And Veterinary Supplements, Pharmaceutical And Biotech Companies, Cosmetics And Personal Care
Major Driver - Growing Incidences Of Osteoarthritis Fueling Demand For Chondroitin Sulfate Market
The growing incidences of osteoarthritis are expected to propel the growth of the chondroitin sulfate market going forward. Osteoarthritis is a widespread type of arthritis that affects millions of people globally, it occurs when the protective cartilage that cushions bone ends gradually deteriorates. Chondroitin sulfate is effective in treating osteoarthritis by providing resistance to compression, maintaining structural integrity, promoting homeostasis, slowing down the degenerative process, and alleviating muscular pain. Hence, the growing incidences of osteoarthritis will increase the demand for chondroitin sulfate market. For instance, In May 2022, according to statistics published by Amgen, a US-based biotechnology company, states that every year, osteoporosis causes roughly 1.5 million fractures in the United States, resulting in $19 billion in associated costs. Furthermore, the annual number of fractures caused by osteoporosis is expected to rise by 68% by 2040, i.e., 3.2 million. Therefore, growing incidences of osteoarthritis are expected to grow the chondroitin sulfate market going forward.
Competitive Landscape:
Major companies operating in the chondroitin sulfate market report are Seikagaku Corporation, Synutra Ingredients, Yantai Ruikangda Biochemical Products Co.ltd., TSI Group Ltd., Sioux Pharm, Summit Nutritionals International Inc., ZPD A/S, Sino Siam Bio technique Co. Ltd., Bio-gen Extracts Pvt. Ltd., Hebei Sanxin industry Group Co.Ltd., Sigma Aldrich Inc., Fidia Farmaceutici S.p.A., Shandong Runxin Biotechnology Co. Ltd., Gnosis S.p.A., Pacific Rainbow International Inc., Bioiberica S.A.U., Merck KGaA, Ruikangda Biochemical Co. Ltd., Guanglong Biochem Co. Ltd., Nippon Zoki Pharmaceutical Co. Ltd., Huiwen Technology Co. Ltd., Runxin Biotechnology Co. Ltd., Yangtze River Basin Construction Co. Ltd., Focus Technology Co. Ltd., SANXIN, WanTuMing Biological, QJBCHINA, Hengjie Bio-Pharmaceuticals, Rochem International Inc., Chongqing Aoli Biopharmaceutical Co. Ltd. .
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Top Trend - Introduction Of Innovative Supplements In The Chondroitin Sulfate Market
Product innovations are a key trend gaining popularity in the chondroitin sulfate market. Major companies operating in the chondroitin sulfate market are creating new products to sustain their position in the market. For instance, in July 2022, Infinitus, a China-based herbal health products, and services company launched a new series of Li Mai Jian supplements with the theme being ""Making Bones Stronger for Joint Health."" They are scientifically formulated with coix seeds and lobed kudzu vine root for additional care for joints.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Chondroitin Sulfate Market Characteristics
3. Chondroitin Sulfate Market Trends And Strategies
4. Chondroitin Sulfate Market - Macro Economic Scenario
5. Chondroitin Sulfate Market Size And Growth
…..
27. Chondroitin Sulfate Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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