CHONDROITIN SULFATE MARKET ANALYSIS

The global chondroitin sulfate market size was valued at US$ 1249.4 million in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 3.1% from 2023 to 2030. The chondroitin sulfate market is projected to grow at a significant rate during the forecast period owing to the growing incidence of rheumatoid arthritis, osteoarthritis, and other chronic diseases. Additionally, the rising demand for nutraceutical products in developing economies due to rising health concerns is further anticipated to boost the market growth.

Global Chondroitin Sulfate Market: Regional Insights

Based on geography, the global chondroitin sulfate market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Regionally, North America is expected to dominate the global chondroitin sulfate market over the forecast period owing to the booming pharmaceutical industry along with the FDA approval for including chondroitin sulfate infused in dietary products. Also, increasing prevalence of osteoarthritis is again expected to fuel regional market growth. Centers for Disease Control and Prevention estimates that 1 in 4 (or 54.4 million) US adults have some form of arthritis, a figure that is expected to reach 78 million by the year 2040.1 While there are estimated to be more than 100 types of arthritis, osteoarthritis (OA) is the most common form of arthritis, affecting 32.5 million US adults.

Europe is a second leading region for global chondroitin sulfate market. This is attributed to the growing demand from cosmetics, pharmaceutical, food, pet food, and veterinary applications. Moreover, Chondroitin sulfate is approved and regulated as a symptomatic slow-acting drug for osteoarthritis (SySADOA) in Europe and its intake is preferred along with glucosamine.

Figure 1. Global Chondroitin Sulfate Market, By Region, 2023

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Global Chondroitin Sulfate Market Drivers:

Growing prevalence of osteoarthritis is expected to propel market growth

Osteoarthritis is one of the most common musculoskeletal condition among the aging population. This condition affects the movements, joints, and causes pain in that area. Chondroitin sulfate is widely used in the treatment of osteoarthritis for relief the osteoarthritis symptoms. According to the Centers for Disease Control and Prevention, by 2025, 67 million people in the U.S. are anticipated to be diagnosed with arthritis. As per the Arthritis Research UK, over 8.3 million people are projected to suffer from knee osteoarthritis by 2035. This mounting prevalence of osteoarthritis is expected to surge the demand for chondroitin sulfate among the manufacturers of pharmaceutical, nutraceutical, and dietary supplements.

Growing demand for nutraceutical &pharmaceutical products to augment market growth

It has been found that chondroitin sulfate used in dietary supplements can help in enhancing liver function, healing wounds, and improving digestion as well as reduce blood sugar levels. Thus, chondroitin sulfate has gained immense popularity for being a health supplement as it can be used in various ailments. The increasing healthcare sector is another factor bolstering growth of the chondroitin sulfate markets. This is because the substance is used to cure joint problems like knee osteoarthritis. It is also widely used in dietary supplements for its anti-ageing properties and skin-repair benefits.

Global Chondroitin Sulfate Market Opportunities:

Chondroitin sulfate market is projected to be an extremely lucrative one owing to its growing demand from the pharmaceuticals and nutraceuticals industry. This is mainly owing to growing geriatric population, which is at risk of osteoarthritis and other bone diseases. In addition, the use of chondroitin sulfate in the production of dietary supplements is projected to further drive the demand for the product.

Growing awareness regarding the benefits of chondroitin sulfate as it is a natural ingredients is expected to offer additional market opportunities. It is a natural protein that can prevent aging, maintain a healthy immune system. Moreover, it can also help in building muscle mass, improving heart health, weight loss, improve sleep quality, reduce inflammation, and treat depression.

Global Chondroitin Sulfate Market Trends:

New product launch due to ongoing innovation

Key players are introducing non-animal source chondroitin sulfate in order to meet the growing demand. This is expected to propel the market growth. For instance, In May 2018, GNOSIS S.p.A. launched synthetic chondroitin sulfate worldwide. The company is involved in the production of chondroitin sulfate product from non-animal source under the brand name Mythocondro as a nutritional supplement to support human and animal health.

Growing health and wellness trend

With the growing prevalence of chronic disease and increasing adoption of healthy lifestyle among consumer, the demand for dietary supplements are gaining popularity. Chondroitin sulfate is used to treat this joint related condition by slowing its progression and making the pain and inflammation less severe. It is a key ingredient in some dietary supplements for joint health. In addition, more research is being done to explore the use of chondroitin sulfate in the treatment of other conditions, such as cardiovascular disease and cancer.

Global Chondroitin Sulfate Market Restraints:

Fluctuating price of raw materials to hamper market growth

The raw material used for the extraction process of chondroitin sulfate has been in high demand due to its growing consumption in the pharmaceutical and nutraceutical applications. Growing prevalence of several diseases in the developed regions due to positive effects of cartilage products have increased the demand for cartilage sourced from these animals. These factors have led to the volatile price of raw materials.

Religious and cultural impediments to hinder market growth

Religious and cultural impediments in certain Middle Eastern countries are projected to restrict the growth of the global chondroitin sulfate market. The use of swine-derived chondroitin sulfate is banned in Asia and the Middle East due to religious sentiments and customs being affected, thus, pork and pork derived products are restricted in Middle East countries.

Figure 2. Global Chondroitin Sulfate Market, By Source, 2023

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Global Chondroitin Sulfate Market Segmentation:

The global chondroitin sulfate market report is segmented into source and region

Based on source, the market is segmented into Bovine, Swine, and Poultry. Out of which, Bovine is expected to dominate the global market over the forecast period. Bovine-derived Chondroitin sulfate is majorly used in various applications such as pharmaceuticals, nutraceuticals, and animal feed.

Swine segment is also expected to witness significant growth in the near future and this is owing to the growing demand from developed economies such as the U.S. and Canada.

Global Chondroitin Sulfate Market: Key Developments

In July 2019, Reig Jofre, a pharma company has acquired Bioiberica’s portfolio of specialized joint health finished pharmaceutical products and nutraceuticals for the treatment of arthrosis and other arthropathies. It is also expanding its product portfolio with medicines and health products based on chondroitin sulfate, glucosamine sulfate

Global Chondroitin Sulfate Market: Key Companies Insights

The global chondroitin sulfate market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global chondroitin sulfate market are TSI Group Ltd., Qingdao Wan Toulmin Biological Products Co., Ltd, HeBei SanXin Industrial Group, Bioiberica S.A.U., Sigma-Aldrich, Inc., Sino Siam Biotechnique Company Limited, Bio-gen Extracts Private Limited, SEIKAGAKU CORPORATION, BRF, and ZPD

*Definition: Chondroitin sulfate is a natural substance, a glycosaminoglycan found in cartilage and other parts of the body. It is an important component of aggrecan, the key structural protein of articular cartilage. Aggrecan is responsible for the elasticity of cartilage and helps to cushion and protect joints.