Published Date : 21 Nov 19 | Views: 28 | 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.
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