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.
Request For Covid19 Impact Analysis –
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.
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.
Planning To Lay Down Future Strategy? Request Brochure Of Chondroitin Sulfate Market
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.