Widening Applications of Chondroitin Sulfate to Aid Market Growth

Chondroitin sulfate is a natural chemical that is primarily found around cartilages in different joints of the body. Conventional techniques of manufacturing chondroitin sulfate involve procurement from animal sources, including cow, bovine, or shark cartilage. Chondroitin sulfate continues to garner considerable popularity around the world due to health benefits and additional research activities. Chondroitin sulfate is mainly used in conjunction with various other ingredients such as glucosamine sulfate, manganese ascorbate, N-acetyl glucosamine, and glucosamine hydrochloride. At present, chondroitin sulfate is increasingly being used to treat osteoarthritis, heart diseases, joint pain, and HIV/AIDS, and other conditions including anemia.

Chondroitin sulfate is administered in different forms such as oral techniques and eye drops. At present, various types of chondroitin sulfate available include powder and pellets. The growing demand for chondroitin sulfate from global biotechnology and pharmaceutical companies is expected to remain one of the key factors that will contribute to the overall growth of the API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market during the forecast period. Chondroitin sulfate is increasingly being used in the production of skin creams and ointments that are used to treat osteoarthritis. Due to additional research, applications of chondroitin sulfate continue to widen at an impressive pace– another factor that is expected to immensely contribute to the growth of the API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market.

At the back of these factors, the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market is expected to attain a market value of US$ 4.7 Bn by the end of 2030.

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Growing Adoption of Chondroitin Sulfate to Treat Osteoarthritis to Propel Market Growth

Over the past couple of decades, chondroitin sulfate and glucosamine have gained immense popularity around the world for the treatment of osteoarthritis, particularly in developed regions, including Europe and North America. While the demand for chondroitin sulfate for osteoarthritis from Europe continues to remain higher than that of other regions, North America is gradually emerging as a lucrative market for the players operating in the API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market. Although the demand for chondroitin sulfate in combination with other ingredients is on the rise, at present, chondroitin sulfate is largely used to minimize the pain among patients with moderate-to-severe pain at the baseline. Moreover, several clinical research activities have revealed that administering chondroitin sulfate by mouth has the potential to improve pain and function in patients suffering from osteoarthritis. Pharmaceutical-grade products with chondroitin sulfate have garnered immense popularity across the healthcare sector around the world due to which, the API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market is expected to witness a commendable growth during the assessment period.

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Emergence of New Microbial Production and Metabolic Engineering of Chondroitin Sulfate to Drive Market

Due to the growing amount of research and development activities pertaining to chondroitin sulfate, an array of commercial and potential applications of chondroitin sulfate have emerged over the past few years. However, at present, due to mounting environmental concerns and the impact of currently deployed animal extractive procedures on the environment, stakeholders involved in the current API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market landscape are expected to focus on other sustainable techniques to gain an advantage. At present, chondroitin sulfate is also being used as a food supplement, biopolymer in materials for regenerative medicine, and more due to which, the API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market is projected to exhibit a consistent growth during the assessment period. Due to environmental concerns coupled with religious concerns, among consumers in different regions, market players have shifted their focus toward good manufacturing practice (GMP). At present, metabolically engineered microorganisms and customized fermentation processes are largely being tried and tested– another major factor that is expected to augment the growth of the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market during the assessment period.

Demand Likely to Remain Steady during COVID-19 Pandemic

Although the COVID-19 pandemic has caused severe losses to companies and industries from different domains, the healthcare sector is expected to have an impressive growth amid the ongoing COVID-19 situation. The demand for chondroitin sulfate is expected to largely remain unaffected during the ongoing public health crisis, as the production and manufacturing of chondroitin sulfate is expected to continue without any interventions. In addition, the sales of medication with chondroitin sulfate, especially among patients suffering from osteoarthritis is likely to move in the upward trajectory during the pandemic. This can be attributed to uncertainty among patients regarding ongoing situation and concerns pertaining to the restriction on movement and transportation.

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Analysts’ Viewpoint

The global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market is expected to grow at a healthy CAGR of 6.5% during the forecast period. The market growth can be primarily attributed to growing applications of chondroitin sulfate in the production of different medications used to treat various diseases, particularly osteoarthritis. In addition, as manufacturers continue to find sustainable production techniques to manufacture chondroitin sulfate, the demand is further anticipated to grow in the upcoming years. The widening applications of chondroitin sulfate in the healthcare sector will remain the key factor that will boost the API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market during the forecast period.  

API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market: Overview

  • Chondroitin sulfate is a sulfated glycosaminoglycan (GAG) composed of a chain of alternating sugars such as N-acetylgalactosamine and glucuronic acid. Chondroitin sulfate is a chemical component of human connective tissues that is normally found in cartilage around joints in the body.
  • It is usually manufactured from animal sources such as bovine, porcine, shark, and other marine sources
  • Hyaluronic acid (HA) is a glycosaminoglycan that helps in transportation of nutrients through the body and facilitates water retention in body tissue
  • It is naturally found in body: in joints, eye cavity, immune system, and others. HA is considered an important component of articular cartilage, where it is present in the form of a coat around each chondrocyte.
  • It is synthesized by a class of integral membrane proteins called hyaluronan synthases, of which vertebrates have three types: HAS1, HAS2, and HAS3. Different injection forms are available for medical purposes in three, four, or five cycles.
  • Pancreatin (pancrelipase) is a combination of three enzymes (proteins): lipase, protease, and amylase. These enzymes are normally produced by the pancreas and are important in the digestion of fat, proteins, and sugar.

API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market: Drivers

  • Rise in prevalence of chronic diseases such as osteoarthritis, pancreatic diseases, and skin problems globally and availability for multiple applications in combination are the major factors boosting the growth of the global chondroitin sulfate, hyaluronic acid, and pancreatin market
  • According to data published in gastroenterology journal acute pancreatitis caused around 275,000 hospitalizations in 2009, which is double the number recorded in the last decade
  • Increase in clinical studies on different grade products used for treatment of different diseases also fuels the growth of the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market
  • Moreover, surge in drug master file (DMF) filings by India and China-based companies contribute to the growth of global chondroitin sulfate, hyaluronic acid, and pancreatin market

API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market: Segmentation

  • In terms of product, the global chondroitin sulfate, hyaluronic acid, and pancreatin market has been classified into chondroitin sulfate, hyaluronic acid, and pancreatin
  • Hyaluronic acid is further sub-segmented into natural and synthetic
  • Based on type, the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market has been divided into pellets, powder, and others
  • In terms of end user, the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market has been categorized into pharmaceutical companies, biotechnology companies, and others
  • Each of the API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market segments has been analyzed in detail for market trends, recent trends & developments, drivers, restraints, opportunities, and useful insights
  • The API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market report provides current and future revenues (US$ Mn) for each of these segments for the period from 2018 to 2030, considering 2019 as the base year. The compound annual growth rate (%)has been provided for each segment and market from 2020 to 2030, along with market size estimations.

Regional Overview: API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market

  • In terms of region, the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
  • North America dominated the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market in 2019 and the trend is likely to continue during the forecast period
  • The current and future API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market sizes in terms of revenue (US$ Mn) in these regions and their major countries have been provided in the report for the period from 2018 to 2030, along with their CAGRs for the period from 2020 to 2030.
  • The study also offers a list of recommendations, highlights, and useful insights of the market, which would help new companies willing to enter the market and existing companies to increase market share and help in the decision-making process

Major Players

  • The API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market report concludes with the company profiles section, which includes key information about the major players in the market
  • Key players analyzed in the API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market report are 
    • Summit Nutritionals International, Inc.
    • Sioux Pharm, Inc.
    • TSI Group Ltd.
    • Shandong Runxin Biotechnology Co., Ltd.
    • ZPD A/S
    • Pacific Rainbow International, Inc.
    • SEIKAGAKU CORPORATION
    • Synutra, Inc.
    • Bioiberica S.A.U.
    • Newgen Biotech USA Inc.
    • Nordmark Arrzneimittel GmbH & Co. KG
    • Qingdao WanTuMing Biological Products Co., Ltd.
  • Each of these players has been profiled in the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments

API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market – Scope of the Report

TMR’s report on the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators for the market during the forecast period from 2020 to 2030. The report provides the overall market revenue and volume of the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market for the period 2018–2030, considering 2019 as the base year and 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR %) for the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market for the forecast period.

The report has been prepared after extensive primary and secondary researches. Primary research involved bulk of research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market.

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomena in the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments and sub-segments included in the scope of the study. Furthermore, the report sheds light on changing competitive dynamics in the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market.

The report delves into the competition landscape of the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market. Key players operating in the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market have been identified and each one of them has been profiled for their distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market that have been profiled in this report.

Key Questions Answered in API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market Report

  • What is the sales/revenue generated by each product, type, and end user segment of the API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market across all regions during the forecast period?
  • What are the opportunities in the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market?
  • What are the major drivers, restraints, opportunities, and threats in the market?
  • Which regional market is likely to expand at the fastest CAGR during the forecast period?
  • Which segment is expected to generate the highest revenue globally in 2030? Which segment is projected to expand at the highest CAGR during the forecast period?
  • What is the market share or position of different companies operating in the global market in 2019?

API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market – Research Objectives and Research Approach

The comprehensive report on the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market begins with an overview of the market, followed by the scope and objectives of this study. Following this, the report provides detailed explanation of the objectives behind this study, key industrial developments in terms of mergers, acquisitions, strategic partnerships, key investments, regulatory scenario, pricing analysis, value chain analysis, technological advancements, key vendor & distributor analysis, and COVID-19 pandemic impact on the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) industry have been provided.

For reading comprehensibility, the report has been compiled in a chapter-wise layout with each section divided into small sections. The entire report comprises an exhaustive collection of graphs and tables appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

The report analyzes the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market in terms of product, type, end user, and region. Key segments under each criteria have been studied at length and the market share for each of them at the end of 2030 has been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market.

API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market – Segmentation

TMR’s study on the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market includes information divided into four sections: product, type, end user, and region. Changing industry trends and other crucial market dynamics associated with these sections of the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market have been discussed in detail.

Product

  • Chondroitin Sulfate
  • Hyaluronic Acid
    • Natural
    • Synthetic
  • Pancreatin

Type

  • Pellets
  • Powder
  • Others

End User

  • Pharmaceutical Companies
  • Biotechnology Companies
  • Others

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

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