Global Chondroitin Sulfate Market Report 2023: Forecast Market Size, Growth Rate And Key Drivers
4 Jul, 2023
The global chondroitin sulfate market size is expected to grow from $1.32 billion in 2022 to $1.39 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global chondroitin sulfate market size is expected to reach $1.64 billion in 2027 at a CAGR of 4.2%.
Global Chondroitin Sulfate Market Key Driver
The rising prevalence of osteoarthritis is projected to boost the chondroitin sulphate market forward. Osteoarthritis is a common type of arthritis that affects millions of individuals worldwide. It happens when the protective cartilage that cushions bone ends deteriorates over time. Chondroitin sulphate is useful in the treatment of osteoarthritis because it provides resistance to compression, maintains structural integrity, promotes homeostasis, slows the degenerative process, and relieves muscular discomfort. As a result, the rising prevalence of osteoarthritis will drive up demand for the chondroitin sulphate market.
Get a sample of the global chondroitin sulfate market reportGlobal Chondroitin Sulfate Market Segments
The global chondroitin sulfate market 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
4) By Geography: The regions covered in the chondroitin sulfate market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global chondroitin sulfate market.
Major Chondroitin Sulfate Industry Players
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., Summit Nutritionals International, Inc., Fidia Farmaceutici S.p.A., Shandong Runxin Biotechnology Co. Ltd., Gnosis S.p.A., Pacific Rainbow International Inc.
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Chondroitin Sulfate Market Overview
Chondroitin sulfate is a chemical compound found in human and animal cartilage that is commonly used in the treatment of osteoarthritis in conjunction with other substances such as glucosamine. This condition is characterized by joint cartilage degeneration, which can be avoided by supplementing with chondroitin sulfate, which is a key component of cartilage.
Chondroitin Sulfate Global Market Report 2023 provides data on the global chondroitin sulfate market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The chondroitin sulfate market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.