API (Chondroitin
Sulfate, Hyaluronic Acid and Pancreatin) Market: Introduction
According to the report,
the global API (Chondroitin Sulfate, Hyaluronic
Acid and Pancreatin) market was valued at US$ 2.3 Bn in 2019 and
is projected to expand at a CAGR of 6.5% from 2020 to 2030.
The active pharmaceutical ingredient (API) production is a critical component
of drug development and any substance or combination of substances used in a
finished pharmaceutical product (FPP) is called active pharmaceutical
ingredient (API). The market report includes Chondroitin Sulfate, Hyaluronic
Acid and Pancreatin APIs. Finished dose of any drug is a combination of active
pharmaceutical ingredients and excipients. Excipient is an inactive substance
in a drug dose. Chondroitin sulfate is a dietary supplement and a vital part of
cartilage, while hyaluronic acid is a major API used in therapeutic products
used in osteoarthritis, skin problems, and cosmetic use. Chondroitin sulfate is
also used as aqua feed product.
North America dominated
the global API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market in
terms of revenue in 2019 and the trend is expected to continue
during the forecast period.
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Rise in Prevalence
of Chronic Diseases to Drive Global Market
·
Increase in prevalence of chronic diseases such as
osteoarthritis and gastric diseases across the world is the major factor
boosting the growth of the global chondroitin sulfate, hyaluronic acid, and
pancreatin market
·
Rise in clinical studies on different grade products used
for treatment of different diseases also fuels the growth of global chondroitin
sulfate, hyaluronic acid, and pancreatin market
·
In June 2017, IBSA Institut Biochimique
SA carried out a new clinical trial called Chondroitin vs. Celecoxib vs.
Placebo Trial (CONCEPT), which exhibited that pharmaceutical grade chondroitin
sulfate is as effective as an anti-inflammatory drug (celecoxib) and superior
to placebo for pain reduction and improvement of functional disability in
patients with knee osteoarthritis
·
Moreover, surge in drug master file (DMF) filings by
India and China-based companies and availability for multiple applications are
other factors accelerating the growth of the global API (Chondroitin Sulfate,
Hyaluronic Acid and Pancreatin) market
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Hyaluronic Acid
to be Dominant Product
·
In terms of product, the global API (Chondroitin Sulfate,
Hyaluronic Acid and Pancreatin) market has been divided into chondroitin
sulfate, hyaluronic acid, and pancreatin
·
The hyaluronic acid segment accounted for a major market
share in terms of revenue in 2019 due to increase in geriatric
population, which demands higher hyaluronic acid products for anti-aging
solutions, launch of advanced products containing hyaluronic acid
visco-supplements, and rise in prevalence of arthritis across the globe
·
Chondroitin sulfate dominated the market in terms of
volume, owing to rise in prevalence of osteoarthritis & osteoporosis,
increase in adoption of chondroitin sulfate as nutraceutical supplements, and
surge in clinical trials for chondroitin sulfate for bone & joint health
supplements and alternate sources for obtaining chondroitin sulfate
Powder to be
Promising Type
·
In terms of type, the global API (Chondroitin Sulfate,
Hyaluronic Acid and Pancreatin) market has been classified into pellets,
powder, and others
·
The powder segment accounted for a major market share
in 2019 and the trend is expected to continue during the
forecast period
·
The powder segment is likely to expand at a higher CAGR
from 2020 to 2030, owing to higher demand for
powder form, excellent free-flow properties for final formulation, easy
transportation, cost effectiveness, and large number of bulk suppliers
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Pharmaceutical
Companies to Hold Major Market Share
·
Based on end user, the global API (Chondroitin Sulfate,
Hyaluronic Acid and Pancreatin) market has been categorized into pharmaceutical
companies, biotechnology companies, and others
·
Pharmaceutical companies dominated the global API
(Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market in 2019,
due to ongoing clinical trials by pharmaceutical companies and growing
regulatory compliance
North America to
Dominate Global 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
·
North America accounted for a major share of the global
API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) market in 2019,
owing to rise in prevalence of osteoarthritis, larger cattle inventory source
for APIs, presence of major companies for supplements, and ongoing clinical
trials
·
According to the Osteoarthritis Action Alliance, an
estimated 54.4 million adults in the U.S. are affected by some
form of arthritis. Of these, osteoarthritis affects nearly 30.8 million adults.
·
The market in Asia Pacific is expected to expand at a
higher CAGR from 2020 to 2030 due to increase
in the geriatric population, higher production capacity of APIs with largest
exporters in the world, low cost manufacturing, higher patient pool, and rise
in awareness about different diseases & their treatments
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Competition
Landscape
·
The global API (Chondroitin Sulfate, Hyaluronic Acid and
Pancreatin) market is fragmented in terms of number of players, with entry of
several new players in the past few years. Key players in the global market
include 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, and Qingdao
WanTuMing Biological Products Co., Ltd.
·
New products, technological development, strategic
collaborations, and regulatory approval for different grade products are the
major strategies adopted by major companies in the global API (Chondroitin
Sulfate, Hyaluronic Acid and Pancreatin) market
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