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.
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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.
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
Global API (Chondroitin Sulfate, Hyaluronic Acid
and Pancreatin) Market: Segmentation
·
API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market, by
Product
o
Chondroitin
Sulfate
o
Hyaluronic
Acid
§
Natural
§
Synthetic
o
Pancreatin
·
API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market, by
Type
o
Pellets
o
Powder
o
Others
·
API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market, by End
User
o
Pharmaceutical
Companies
o
Biotechnology
Companies
o
Others
·
API (Chondroitin Sulfate, Hyaluronic Acid and Pancreatin) Market, by
Region
o
North
America
§
U.S.
§
Canada
o
Europe
§
Germany
§
U.K.
§
France
§
Italy
§
Spain
§
Rest of
Europe
o
Asia
Pacific
§
China
§
India
§
Japan
§
Australia
& New Zealand
§
Rest of
Asia Pacific
o
Latin
America
§
Brazil
§
Mexico
§
Rest of
Latin America
o
Middle
East & Africa
§
GCC
Countries
§
South
Africa
§
Rest of
Middle East & Africa
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