API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market Expected to Reach USD 4.7 Billion by 2030 | TMR Study

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Oct 25, 2022, 14:30 ET

Increasing chondroitin sulfate demand for osteoarthritis treatment is boosting growth in API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market
North America emerged as the dominant region in global market in 2019 owing to increasing chondroitin sulfate demand for patient treatment in the U.S. and Canada

WILMINGTON, Del., Oct. 26 2022 /PRNewswire/ -- The last few years have witnessed steady rise in prevalence of different diseases worldwide in organs such as the heart, which has also led to increase in number of hospitalizations.

As the result, need for improved medication has risen, which has boosted the demand for products such as chondroitin sulfate and hyaluronic acid and contributed to growth in API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market.

As per TMR study, the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market is expected to advance at compound annual growth rate of 6.5% during the forecast period, starting in 2020 and ending in 2030.

New product launches are helping leading API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market players in generating new revenue streams and in gaining an edge over other market players.

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In a bid to expand their presence in global market and increase their revenue shares, prominent API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market players are adopting strategies such as collaborating with smaller players.

Furthermore, leading manufacturers are also looking to adopt sustainable methods to produce chondroitin sulfate, which could fuel product demand, in future.

Key Findings of API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market Study

Rising Demand for Chondroitin Sulfate in Osteoarthritis Treatment Propelling Overall Market: The global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market has witnessed significant growth in the last few decades owing to steady rise in demand of chondroitin sulfate and glucosamine to treat patients suffering from osteoarthritis, especially in developed economies worldwide. Clinical research activities have shown that administration of chondroitin sulfate by mouth can help in recovery of patients suffering from osteoarthritis. Furthermore, rising demand for pharmaceutical products with chondroitin sulfate is expected to trigger the growth in global market for API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin)

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

Increasing prevalence of different pancreatic and skin disorders is one of the key growth drivers of global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market
The demand for chondroitin demand remained unaffected during the COVID-19 pandemic phase, which ensured steady growth in API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market

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API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market-Regional Market Insights

Globally, North America emerged as the dominant region in global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market, in 2019 and is expected to remain as the most lucrative market, during the forecast period. Increasing demand for chondroitin sulfate in combination with other ingredients to help reduce pain in patients in countries such as the U.S. and Canada has emerged as key growth driver of the market in the region

API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market- Key Players

The global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market is competitive, with the presence of several leading players. Entry of new players could intensify the competition in global market, during the forecast period.

Well-established market players are investing in R&D undertakings to develop improved products that would meet requirements of different customers in various end-use industries.

Some prominent players in global market include Shandong Runxin Biotechnology Co., Ltd., TSI Group Ltd., Summit Nutritionals International, Inc., Pacific Rainbow International, Inc., and Bioiberica S.A.U.

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The global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market is segmented as follows:

Product

Chondroitin Sulfate
Hyaluronic Acid
Pancreatin

Type

Pellets
Powder
Others

End-Use

Pharmaceutical Companies
Biotechnology Companies
Others

Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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