API Market Value to Reach US$ 4.7 Billion by 2030
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.
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.
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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.
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.
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.
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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.
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
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 – Segmentation
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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