Global Chondroitin Sulfate Market: Snapshot
Chondroitin sulfate is a sulfated glycosaminoglycan (GAG) composed of a chain of alternating sugars like N-acetylgalactosamine and glucuronic acid. Chondroitin sulfate is a natural chemical component of human connective tissues that is generally found in cartilage around bone joints in the human body. Chondroitin sulfate is generally manufactured from animal source, such as bovine, porcine, shark and other marine sources. Chondroitin sulfate is an alternative medicine for slowing the progression of osteoarthritis, Moreover, it also helps to reduce inflammation and pain. This leads to improvement in joint functions. Chondroitin sulfate is mostly used in combination with glucosamine. Chondroitin sulfate is also used as an eye drop for sore eyes moreover, chondroitin sulfate had the veterinary uses also.
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Dietary Supplements Segment to Exhibit Dominance in Overall Market
The global market for chondroitin sulfate was worth US$ 343.8 million in 2016, with dietary supplements application segment dominating the overall global market. The global chondroitin sulfate market is witnessing a significant growth and is expected to expand at prominent CAGR during the forecast period of 2017–2025. Prevalence of osteoarthritis in many regions, rising awareness towards joint health, introduction of novel chondroitin sulfate combination products etc. has a positive impact on the growth of global chondroitin sulfate market. Religious & cultural impediments on the usage of chondroitin sulfate (Middle Eastern countries) are few of the factors restricting the growth of the global chondroitin sulfate market.
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The global chondroitin sulfate market is segmented on the basis of application, and source. Based on application, the global market has been segmented into dietary supplement, pharmaceutical, cosmetics and veterinary use. Dietary supplements segment accounted for more than 50% share in terms of value of the global chondroitin sulfate market, in 2016. The segment is anticipated to dominate the global chondroitin sulfate market throughout the forecast period due its application in osteoarthritis treatment. On the basis of source, the global chondroitin sulfate market is segmented into bovine, porcine and others. Bovine source is expected to be the fastest growing segment and is expected to expand at 3%-4% CAGR over the forecast period of 2017–2025 due to shift of preference towards bovine source, also the religious factors limit the usage of porcine source in some countries. Other sources includes chicken, shark and other marine sources.