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Global Chondroitin Sulfate Market to reach USD 1.59 billion by the end of 2029

Global Chondroitin Sulfate Market Size study & Forecast, by Source (Bovine, Swine, Poultry, Shark, Synthetic), by Application (Nutraceuticals, Pharmaceuticals, Animal Feed, Personal Care & Cosmetics, Other Applications) and Regional Analysis, 2022-2029

Product Code: HLSDT-78816003
Publish Date: 10-04-2023
Page: 200

Global Chondroitin Sulfate Market is valued at approximately USD 1.21 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 3.5% over the forecast period 2022-2029. Chondroitin sulfate is also named glycosaminoglycan sulfated glucose (GAG). Chondroitin sulfate is composed of a long chain of alternating sugars such as glucuronic acid and N-acetylga-lactosamine. This molecule is an important part of the extracellular matrix, which is formed of several connective tissues like bone, cartilage, tendons, and ligaments. Commercial production of chondroitin sulfate uses a variety of animal sources, including pigs, chickens, cows, fish, sharks, crocodiles, and other creatures. The rising demand for nutraceutical goods, coupled with the growing demand in animal feed industry are acting as catalyzing factors for the demand for chondroitin sulfate in the global market.

The rising incidencfes of osteoarthritis is playing a ignificant role for propelling the market demand across the globe. The World Health Organization Association (WHO), stated that globally around9.6% of men and 18% of women aged more than 60 are suffering from symptomatic osteoarthritis. Among these, nearly 80% have problems in movement and 25% are not able to perform day-to-day activities. Thereby, the rising incidence rate of orthopedic disorders is likely to stipulate the growth of global plasma therapy market. Thereby, the rising usage of chondroitin sulfate for the treatment of osteoarthritis is augmenting the market expansion at a significant rate. Moreover, rising investment in research and development, as well as the growing applications of chondroitin sulfate are presenting various lucrative opportunities over the forecasting years. However, adverse effects of chondroitin sulfate and stringent regulations by various regulatory bodies are challenging the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Chondroitin Sulfate Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rising prevalence of osteoarthritis, along with the increasing United States Food and Drug Administration approvals for chondroitin sulfate. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the growing aging population in emerging nations, as well as rising use of sodium chondroitin sulfate-infused pharmaceuticals and nutraceuticals in the market space.

Major market players included in this report are:
TSI Group Ltd.
Qingdao Wan Toulmin Biological Sources Co., Ltd.
Hebei SanXin Industrial Group
Bioiberica SAU
Sigma Aldrich, Inc.
Sino Siam Biotechnique Company Ltd.
Bio-gen Extracts Pvt. Ltd.
Seikagaku Corp.

Recent Developments in the Market:
 In July 2022, Infinitus unveiled the introduction of a new series of Li Mai Jian supplements with the theme ‘Making Bones Stronger for Joint Health’.
 In March 2022, Bioiberica, a global life science company announced that the company entered into a partnership agreement with ByHealth, The key objective of this partnership is to introduce a new product for its market-leading joint health brand, Highflex. Highflex type II collagen tablets is developed to fulfill the unmet requirements of consumer for innovative, low-dose joint health solutions across China.

Global Chondroitin Sulfate Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Source, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Source:

By Application:
Animal Feed
Personal Care & Cosmetics
Other Applications

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Chondroitin Sulfate Market, by Region, 2019-2029 (USD Billion)
1.2.2. Chondroitin Sulfate Market, by Source, 2019-2029 (USD Billion)
1.2.3. Chondroitin Sulfate Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Chondroitin Sulfate Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Chondroitin Sulfate Market Dynamics
3.1. Chondroitin Sulfate Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Rising demand for nutraceutical goods Increasing prevalence of osteoarthritis
3.1.2. Market Challenges Adverse effects of chondroitin sulfate Stringent regulations by various regulatory bodies
3.1.3. Market Opportunities Rising investment in research and development Growing applications of chondroitin sulfate
Chapter 4. Global Chondroitin Sulfate Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Chondroitin Sulfate Market, by Source
6.1. Market Snapshot
6.2. Global Chondroitin Sulfate Market by Source, Performance – Potential Analysis
6.3. Global Chondroitin Sulfate Market Estimates & Forecasts by Source 2019-2029 (USD Billion)
6.4. Chondroitin Sulfate Market, Sub Segment Analysis
6.4.1. Bovine
6.4.2. Swine
6.4.3. Poultry
6.4.4. Shark
6.4.5. Synthetic
Chapter 7. Global Chondroitin Sulfate Market, by Application
7.1. Market Snapshot
7.2. Global Chondroitin Sulfate Market by Application, Performance – Potential Analysis
7.3. Global Chondroitin Sulfate Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
7.4. Chondroitin Sulfate Market, Sub Segment Analysis
7.4.1. Nutraceuticals
7.4.2. Pharmaceuticals
7.4.3. Animal Feed
7.4.4. Personal Care & Cosmetics
7.4.5. Other Applications
Chapter 8. Global Chondroitin Sulfate Market, Regional Analysis
8.1. Chondroitin Sulfate Market, Regional Market Snapshot
8.2. North America Chondroitin Sulfate Market
8.2.1. U.S. Chondroitin Sulfate Market Source breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Chondroitin Sulfate Market
8.3. Europe Chondroitin Sulfate Market Snapshot
8.3.1. U.K. Chondroitin Sulfate Market
8.3.2. Germany Chondroitin Sulfate Market
8.3.3. France Chondroitin Sulfate Market
8.3.4. Spain Chondroitin Sulfate Market
8.3.5. Italy Chondroitin Sulfate Market
8.3.6. Rest of Europe Chondroitin Sulfate Market
8.4. Asia-Pacific Chondroitin Sulfate Market Snapshot
8.4.1. China Chondroitin Sulfate Market
8.4.2. India Chondroitin Sulfate Market
8.4.3. Japan Chondroitin Sulfate Market
8.4.4. Australia Chondroitin Sulfate Market
8.4.5. South Korea Chondroitin Sulfate Market
8.4.6. Rest of Asia Pacific Chondroitin Sulfate Market
8.5. Latin America Chondroitin Sulfate Market Snapshot
8.5.1. Brazil Chondroitin Sulfate Market
8.5.2. Mexico Chondroitin Sulfate Market
8.5.3. Rest of Latin America Chondroitin Sulfate Market
8.6. Rest of The World Chondroitin Sulfate Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. TSI Group Ltd. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.2.2. Qingdao Wan Toulmin Biological Sources Co., Ltd.
9.2.3. Hebei SanXin Industrial Group
9.2.4. Bioiberica SAU
9.2.5. Sigma Aldrich, Inc.
9.2.6. ZPD
9.2.7. Sino Siam Biotechnique Company Ltd.
9.2.8. BRF
9.2.9. Bio-gen Extracts Pvt. Ltd.
9.2.10. Seikagaku Corp.
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

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Data Collection:
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Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
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Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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