Global Chondroitin Sulfate Market Report and Forecast 2024-2032

Global Chondroitin Sulfate Market Outlook

The global Chondroitin Sulfate market size attained a value of USD 1.30 billion in 2023, driven by increasing prevalence of osteoarthritis. The market is anticipated to grow at a CAGR of 3.6% during the forecast period of 2024-2032 to attain a value of USD 1.78 billion by 2032.

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Bovine Accounts for a Significant Share in the Global Chondroitin Sulfate Industry

Chondroitin sulfate obtained from bovine performs an important role as a flexible connecting matrix between tough filaments of protein in a cartilage to make a polymeric system. In addition to this, chondroitin sulfate by bovine prevents the cartilage from getting degraded by enzymes and free radicals by maintaining an osmotic pressure through absorption of water. Moreover, it adds elasticity and flexibility to the bones. Over the forecast period, the increasing application of bovine chondroitin sulfate in animal feed and pharmaceutical industry is anticipated to propel the segment’s growth.

North America Occupies a Sizable Segment in the Market for Chondroitin Sulfate

The market in the North America region is being driven by the growing expansion of the major pharmaceutical and nutraceutical companies in developed countries such as the United States. Moreover, the robust product launches and policies of the government favouring the expansion of pharma sector are likely to provide lucrative opportunities to the market in the coming years.

In the forecast period, the rising prevalence of obesity owing to the growing consumption of fast food in the North America region is anticipated to increase the risk of osteoarthritis. This factor is likely to propel the demand for chondroitin sulfate at a regional level. Furthermore, the chondroitin sulfate market is likely to be aided by the growing demand for personal care and cosmetic products which will in turn drive the demand for chondroitin sulfate.

Market Segmentation

Chondroitin sulfate refers to a chemical which is found in the cartilage of humans and animals. Chondroitin sulfate slows the breakdown of joints in diseases such as osteoarthritis. It is also taken as a medicine to support the digestion of body and enhance the function of liver.

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Based on source, the market can be segmented into:

• Swine

• Bovine

• Shark

• Poultry

• Others

By form, the market has been divided into:

• Powder

• Tablet

• Others

The significant applications of the product include:

• Pharmaceuticals and Nutraceuticals

• Personal Care and Cosmetics

• Animal Feed

• Others

The regional markets include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Prevalence of Osteoarthritis to Boost the Growth of the Chondroitin Sulfate Industry

Chondroitin sulfate reverses the degenerative process of osteoarthritis and reduces the pain and discomfort of patients. In this regard, the increasing prevalence of osteoarthritis, coupled with the growing geriatric population is driving the market growth. Chondroitin sulfate is free of side-effects and experts and researchers are investing in scientific studies aimed towards proving the safety and efficacy of the product. Over the forecast period, an anticipated increase in the sales of chondroitin sulfate as a prescription drug and OTC dietary supplement for the treatment of chronic diseases is anticipated to propel the market growth.

The rapid increase in clinical trials aimed towards exploring the potential of chondroitin sulfate are likely to boost the chondroitin sulfate market growth. In the emerging economies, sedentary lifestyles led by the working-class population are also leading to a heightened consumption of chondroitin sulfate to bolster the strength of joints and sensitive areas of body. This factor is likely to garner the application of chondroitin sulfate as a dietary supplement in the nutraceutical industry.

The increasing application of the compound in eye drops for the treatment of red eye and increasing demand for cornea preservation during the cataract surgery are also driving market demand. Another factor increasing the market demand is the growing use of chondroitin sulfate as an oral dose for heart attack.

Key Players in the Global Chondroitin Sulfate Market

The report gives a detailed analysis of the following key players in the global market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• BIOIBERICA S.A.U.

• BRF S.A.

• Synutra, Inc.

• Sino Siam Biotechnique Company Limited

• Seikagaku Corporation

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report