NEW YORK, June 21, 2021 /PRNewswire/ — Technavio identifies the growing prevalence of osteoarthritis (OA) as one of the major factors driving the growth of the chondroitin sulfate market. OA is one of the most common forms of arthritis that affects a majority of the population worldwide. For instance, over 20% of adults over 18 years of age are diagnosed with OA every year in the US alone. The prevalence of the condition is much higher in adults aged over 60 years.
Chondroitin sulfate is widely used in medical applications in the form of a dietary supplement or as a prescription drug to treat OA. Therefore, the rising prevalence of OA is expected to increase the demand for chondroitin sulfate during the forecast period.
The chondroitin sulfate market report helps businesses create strategies to make the most of future growth opportunities.
Request a FREE PREVIEW SAMPLE of the Report
In 2020, APAC accounted for about 41% of the global market share, and the region is expected to continue its dominance during the forecast period. The prevalence of medical conditions such as cataracts is increasing in countries such as China, Malaysia, India, and Singapore. In addition, the rising aging population in these countries is creating a high demand for protein-based supplements and medicines that contain chondroitin sulfate. These factors are driving the growth of the chondroitin sulfate market in APAC.
Similarly, based on the application, the market generated maximum revenue from the nutraceuticals segment in 2020. The growth of the segment can be attributed to the rising adoption of healthy diets in food and increasing health consciousness among consumers. In addition, the increasing demand for functional food products and dietary supplements will support the growth of the nutraceuticals segment during the forecast period.
Although the chondroitin sulfate market is expected to record a healthy growth during the forecast period, the high threat of substitutes and the side effects of chondroitin sulfate might reduce the growth opportunities for market participants. This report on the chondroitin sulfate market will help businesses become better equipped, make informed decisions, and develop effective strategies to improve their market positions.
Access detailed information about the global chondroitin sulfate market here:
Fortune 500 companies rely on us
Reports covering over 100 major technology markets
Years of market research experience
Technavio’s reports offer customizations as per the specific needs of companies. Our custom reports include a further breakdown of market segmentation at regional levels, information on additional market players, and the strategies adopted by vendors during the COVID-19 recovery phase.
Reasons to Buy Chondroitin Sulfate Market Report:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2020, 2021, until 2025
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Make fast, effective, and sound decisions and stay on top of the latest industry developments.
Enquire about the report before purchasing
Related Reports on Materials Include:
Global Potassium Sulfate Market – Global potassium sulfate market is segmented by process (Mannheim process, sulfate salts reaction, and salt lake brine processing) and geography (APAC, Europe, MEA, North America, and South America).
Request a Free Sample Report
Global Copper Sulfate Market – Global copper sulfate market is segmented by application (agriculture, chemical, and others) and geography (APAC, North America, Europe, South America, and MEA).
Request a Free Sample Report
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. Technavio’s comprehensive coverage, extensive research, and actionable market insights help businesses identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
View original content to download multimedia:http://www.prnewswire.com/news-releases/chondroitin-sulfate-market-growing-prevalence-of-oa-to-drive-growth-post-the-crisis-301315799.html