Chondroitin Sulfate Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Chondroitin Sulfate Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Over the next few years, the chondroitin sulfate market is expected to grow at a CAGR of 6%.

The healthcare system has witnessed enormous challenges as a result of the COVID-19 pandemic. The research and development have come into focus. All government agencies and healthcare players around the world have increased their efforts to support the development of COVID-19 diagnostics and treatment methods. For instance, according to an article published by the National Library of Medicine in February 2022, chondroitin sulfate (CS), a highly sulfated glycosaminoglycan (GAG) derivative, exhibited a strong inhibitory effect against the SARS-CoV-2 virus as well as the bovine coronaviruses. The study showed that chondroitin sulfate could help in the development of antiviral therapy for COVID-19 patients. Due to the growing chondroitin sulfate research and development initiatives in the creation of efficient COVID-19 medicines, the market is anticipated to continue growing at a substantial rate throughout the forecast period.

The significant factors contributing to the growth of the chondroitin sulfate market over the forecast period include the rising occurrence of osteoarthritis cases, which are usually treated with chondroitin sulfate, and the increasing applications of chondroitin sulfate in various sectors. According to an article published in the Journal of Climacteric in January 2022, osteoporosis causes more than 8.9 million fractures annually all over the world, resulting in an osteoporotic fracture every 3 seconds. The article indicated that osteoporosis affects 200 million women worldwide. The large number of people affected by osteoporosis is expected to contribute to market growth.Also, chondroitin sulfate is used as an eye drop for dry eyes and in cataract surgery as a solution for preserving corneas used for transplants. According to an article published by NVISION Eye Centers, in February 2022, over 20.5 million people in the United States were living with cataracts. The numbers were projected to rise to 30 million by the year 2028. The rising prevalence of cataracts, which creates a demand for chondroitin sulfate during surgery, is expected to add to the market's growth.

Several market players have contributed to the market's growth over the forecast period. For instance, in January 2021, Bioiberica Companion Animal Health completed its line of supplementary foods for joint health by launching Condrovet for Puppies. The product is recommended to nurture growing joints in fast-growing large breeds and in breeds predisposed to hip dysplasia. The product contains chondroitin sulfate, vitamin E, and manganese sulfate. Such company developments are expected to drive the market over the forecast period.

However, the adverse effects of chondroitin sulfate are a major factor hindering market growth.

Chondroitin Sulfate Market Trends

Pharmaceuticals Segment is Expected to Witness High Growth Over the Forecast Period

Pharmaceutical-grade chondroitin sulfate has been repeatedly reported to reduce pain and improve function in patients with osteoarthritis. It is often used in combination with other ingredients such as glucosamine sulfate, manganese ascorbate, N-acetylglucosamine, and glucosamine hydrochloride. Chondroitin sulfate is also taken orally for heart attack, HIV/AIDS, heart disease, osteoporosis, and joint pain because of the drugs used in the treatment of breast cancer, high cholesterol, muscle soreness after exercise, acid reflux, interstitial cystitis, Kashin-Beck disease, and psoriasis. Chondroitin sulfate ointments in combination with glucosamine sulfate, shark cartilage, and camphor can be used for osteoarthritis pain. Also, the rising number of people affected by osteoarthritis is expected to contribute to the growth of the studied market. For instance, according to data published in September 2021 by the Centers for Disease Control and Prevention (CDC), a person's average lifetime risk for symptomatic osteoarthritis of the knee was almost 50%. Furthermore, according to the statistics of the Arthritis Foundation, in 2022, osteoarthritis will be the most common form of arthritis, affecting more than 32.5 million people in the Americas, and about half of knees with anterior cruciate ligament (ACL) injuries will develop osteoarthritis within 5 to 15 years. By 2040, 78 million Americans are projected to have osteoarthritis. Thus, with an increase in cases of osteoarthritis, there is a wide range of medicinal applications for chondroitin sulfate, and the respective segment is expected to grow significantly.

Key market players' actions to develop the pharmaceutical segment of chondroitin sulfate are expected to boost market growth. For instance, in July 2021, Bioiberica launched a new brand identity for its healthcare-branded ingredients portfolio, which included Mobilee, a patented hyaluronic acid matrix ingredient, and CS Bioactive chondroitin sulfate. Such activities are expected to contribute to the growth of the studied market over the forecast period.

North America is Expected to Dominate the Chondroitin Sulfate Market Over the Forecast Period

The well-established pharmaceutical industry in the North American region and increasing United States Food and Drug Administration approvals for chondroitin sulfate can be credited for the growth of the chondroitin sulfate market in the region. The high prevalence of osteoarthritis and eye drop formulations are two other factors driving growth in North America.As per an article by the American Society for Biochemistry and Molecular Biology on Osteoporosis Awareness published in May 2022, osteoporosis is expected to be responsible for three million fractures every year, resulting in USD 25.3 billion in costs in the United States every year by the end of the year 2025. The rise in the number of osteoporosis cases in the United States is expected to contribute to the growth of the studied market. Furthermore, the Arthritis Society reported in 2021 that approximately 15% of the Canadian population over the age of 20 was affected by osteoarthritis.The report indicated that over 4 million people in Canada would be living with osteoarthritis in 2021. The increasing prevalence of osteoarthritis cases in the nation is contributing to the growth of the chondroitin sulfate market in the North American region over the forecast period.

Also, the recent product launches in the veterinary sector focusing on improving bone health in pet animals are likely to contribute to market growth. For instance, in March 2021, Dogsnob, a United States-based premium dog supplement brand, launched Mobility Management Soft Chews, which are formulated to support mobility, relieve pain, maintain bone strength, and promote heart health for puppies, adults, and senior dogs. The product launches in the region are expected to boost the growth of the market over the forecast period.

Therefore, owing to the aforesaid factors, the growth of the studied market is anticipated in the North American region.

Chondroitin Sulfate Industry Overview

The chondroitin sulfate market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of international and local companies with significant market shares and is well known, including Fidia Farmaceutici S.p.A., Gnosis S.p.A., Merck KGaA (Sigma-Aldrich, Inc.), Synutra, Inc., and Summit Nutritionals International, among others.

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