by Chondroitin sulfate is a sulfated glycosaminoglycan composed of a chain of alternating sugars (N-acetylgalactosamine and glucuronic acid). It is found in cartilage and provides strength and flexibility to connective tissues. Chondroitin sulfate is commonly used to support joint function, treat osteoarthritis, and lubricate joints. It assists with flexibility, range of motion, and muscle performance.
The global Chondroitin Sulfate Market is estimated to be valued at US$ 1288.13 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
According to a report by Arthritis Foundation, around 54 million adults suffer from arthritis in the U.S. alone. Therefore, increasing prevalence of arthritis and joint disorders are expected to fuel demand for chondroitin sulfate over the forecast period. Further, growing geriatric population who are more prone to joint disorders and arthritis will further propel market growth. Aging population globally is anticipated to be a major consumer of joint health supplements containing chondroitin sulfate during the forecast period.
SWOT Analysis
Strength: Chondroitin sulfate possesses pain-relieving properties that makes it suitable for treating osteoarthritis and joint pain. It is widely available as an over-the-counter (OTC) dietary supplement. Growing awareness regarding health benefits of chondroitin sulfate supplements is driving its demand.
Weakness: Low quality raw material used by some manufacturers can reduce the effectiveness of chondroitin sulfate products. Heavy reliance on imports from China and India increases supply chain risks.
Opportunity: Launch of innovative delivery formats such as gummies and lozenges can help attract younger consumer base and drive compliance. Rising geriatric population prone to joint disorders worldwide presents an opportunity for market expansion.
Threats: Alternative joint pain management options and herbal supplements limit the overall growth potential of the market. Stringent regulatory landscape and compliance issues pertaining to dietary supplement industry pose threats.
Key Takeaways
The Global Chondroitin Sulfate Market Size is expected to witness high growth, exhibiting CAGR of 3.1% over the forecast period, due to increasing prevalence of osteoarthritis and growing demand for joint health supplements.
Regional analysis: North America dominates the global market owing to high health awareness and growing geriatric population prone to joint disorders in the US and Canada. Asia Pacific is expected to be the fastest growing market due to rising disposable incomes, growing medical tourism in China, India and Southeast Asian countries.
Key players operating in the 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. Key players are focused on new product launches, strategic collaborations and expansion of regional presence.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
