The glucosamine market may gain phenomenal growth across the assessment period of 2020-2030 on the back of the escalating cases of arthritis globally. In addition, the heightening number of the obese populace may further strengthen the growth rate of the glucosamine market during the forecast period.
According to the Centers for Disease Control and Prevention (CDC), from the tenure of 2013-2015, nearly 54.4 mn adults in the U.S. had been told by the doctor that they had some form of arthritis. The CDC also predicts that by the year 2040, over 78 mn (26 percent) U.S. adults from the age of 18 and above will have doctor-diagnosed arthritis. These statistics state the growing influence of arthritis and the urgent need to cure it.
Obesity is also a grave problem worldwide. According to the World Health Organization (WHO), in 2016, more than 1.9 bn adults above 18 years of age were obese. These numbers are expected to rise in the near future due to the rapidly changing lifestyle. Hence, all these aspects indicate that the glucosamine market may harness promising growth during the assessment period.
Glucosamine is a compound that occurs naturally within the cartilage of the joints. It is made from a blend of the chains of sugar and proteins. Glucosamine is generally derived from the shells of the shellfish. It is available in the form of capsules, powder, tablets, gel, and others. It is one of the most common dietary supplements used across humans and pets too. Hence all these aspects bring tremendous growth prospects for the glucosamine market.
This report on the glucosamine market aids the stakeholder to overcome the barriers of fake information and offers a detailed analysis of a plethora of segments. The report provides the 3M (Market trends, Manufacturer analysis. Minute study on regions) advantage to the stakeholder. This advantage proves to be a game-changer for the stakeholder and assures ideal information on all aspects surrounding the glucosamine market.
The report focuses on the impact of the SARS-CoV-2 outbreak and also on the threats that may harm the growth prospects of the glucosamine market. The scrutinized study conducted by the researchers also highlights the opportunities and challenges that the glucosamine market may face during the tenure of 2020-2030.
The glucosamine market comprises a large number of players across the horizon. The players are always involved in novel product launches and upgrades in glucosamine to attract a massive consumer base. The players invest heavily in research and development activities for discovering new formulations and techniques that will make glucosamine more effective for the end-users.
The players are involved in expansion activities for seamlessly catering to the overwhelming demand. Some well-entrenched players in the glucosamine market are Teva Pharmaceutical Industries Ltd., NOW Health Group, Inc., G.T.C. Union Group Ltd., Mylan N.V., Health World Ltd., and Foodchem International Corporation.
The glucosamine market may gain great growth on the back of the rising cases of obesity and arthritis. In addition to food supplements, glucosamine is also used in cosmetics. Glucosamine is also used as a key ingredient in pet foods to relieve aging dogs from joint pain. These factors may further invite immense growth prospects for the glucosamine market.
North America’s glucosamine market may record exponential growth across the assessment period of 2020-2030. The rising number of people consuming dietary supplements is increasing rapidly. This aspect may prove to be a significant growth factor for the glucosamine market in North America.
The common use of glucosamine as an over-the-counter prescription drug in developed countries across Europe may generate promising growth for the glucosamine market. Thus, Europe may contribute to the growth of the glucosamine market to a certain extent.