Glucosamine Market by Application and Geography - Forecast and Analysis 2020-2024
Global Glucosamine Market: About this market
Technavio’s glucosamine market analysis considers sales from both arthritis and other applications. Our study also finds the sales of glucosamine in Asia, Europe, North America, and ROW. In 2018, the arthritis segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the rising transition to nutraceuticals and dietary supplements will play a significant role in the arthritis segment to maintain its market position. Also, our global glucosamine market report looks at factors such as increasing use of combination therapy, growing popularity of e-commerce in healthcare industry, and growing geriatric population. However, limitations on variation of molecule type, wide availability of substitutes, and stringent regulations may hamper the growth of the glucosamine industry over the forecast period.
Global Glucosamine Market: Overview
Increasing the use of combination therapy
Although there are a substantial number of drugs available for the treatment of joint-related conditions, many researchers believe chronic conditions such as osteoarthritis do not respond to a monotherapy drug or a single treatment. Treatments of such conditions are most effective when given in combination. In combination therapy, nutraceutical supplements such as glucosamine are administered along with other drugs or dietary supplements such as chondroitin. Hence, the use of combination therapy will lead to the expansion of the global glucosamine market at a CAGR of over 6% during the forecast period.
Growing use of nutraceuticals in treating chronic diseases
Nutraceuticals such as glucosamine supplements are used to treat and manage various chronic diseases owing to their additional nutritional and therapeutic effects along with their health benefits and lesser side effects compared with drugs. A nutraceutical also offers physiological benefits such as protection against various chronic diseases and lifestyle disorders (obesity and cardiovascular diseases). Apart from effectively treating orthopedic conditions in combination therapy, glucosamine is also used to manage conditions such as interstitial cystitis, multiple sclerosis, and others. Vendors are also focusing on making non-animal-derived glucosamine to cater to individuals who are allergic to crustaceans and follow a kosher diet. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global glucosamine market during the forecast period 2020-2024, click here.
With the presence of several major players, the global glucosamine market is highly fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading glucosamine manufacturers, that include Blackmores Ltd., Cargill Inc., Ethical Naturals Inc., GNC Holdings Inc., Herbs Nutriproducts Pvt. Ltd., Jyorana International Pvt. Ltd., Natures Aid Ltd., NOW Health Group Inc., Pharma Nord Aps, and WynnPharm Inc.
Also, the glucosamine market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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