Published Date : 21 Nov 19 | Views: 113 | Industry : Chemical & Material
Healing
Properties of Glucosamine Fuel the Growth of Medicine Segment
Based on the
application, the global Glucosamine market is segmented into health food,
cosmetics, medicine, and Others. The health food segment is likely to capture a
substantial share of the market due to the increasing popularity of nutritional
supplements. High demand for a dietary supplement for strengthening joints and
bones is likely to boost the market in the coming years. Growing medicinal
usage of Glucosamine in order to heal arthritic conditions is expected to fuel
the growth of the medicine segment.
Cosmetic
properties and supplementary substitutes Propel the Growth of the Market in the
Asia Pacific
A major factor
contributing to the growth of the market in European countries is over the
counter availability of Glucosamine and its usage as prescription medicine. The
strong presence of manufacturers in North America and the budding healthcare
sector in the Asia Pacific region is estimated to fuel the growth of the
market. Increasing awareness regarding bone and joint-related disorders is
further expected to stimulate market growth in the region. Cosmetic properties
in Glucosamine along with key supplementary substitutes are contributing to the
growth of the market.
Top Players Focusing On Inorganic Growth to Gain Considerable Market Presence
Some of the major
players functioning in the market include Cargill, Aoxing Biotechnology,
Golden, KOYO chemicals, Bayir Chemicals, Yangzhou Rixing Bio, YSK, AMPIL,
Wanbury, Wellable Marine Biotech, TSI, and Panvo Organics. Fierce competition
in the market has resulted in manufacturers focusing on inorganic growth to
establish themselves as a prominent player in the market. Other strategies
leading companies are keen to incorporate are entering alliances and promoting
collaborations to gain market presence.
Treatment
of Arthritic Conditions Drives the Growth of Global Glucosamine Market
Increasing usage of
Glucosamine in medicine to combat arthritis, osteoarthritis, and joint
disorders are driving the growth of the global Glucosamine market. Growing
occurrences of diabetes and cancer are inflating its usage on a substantial
scale in the pharmaceutical sector widening the scope for opportunities.
Because of its many advantages such as its usage for joint pain relief and its
use in therapeutic goods, an increasing demand for the product is anticipated
to amplify considerably.
For further information, check: https://www.qyrconsulting.com/reports/glucosamine-market