Glucosamine Supplements Market size is forecast to reach $1.54 billion by 2025, growing at a CAGR of 6.8% during the forecast period 2020-2025. Reduction in osteoarthritis-related pain and improved functioning in people with knee or hip osteoarthritis are the major factors driving the growth of the market. Increasing consumer awareness regarding the need for treatment of various joint, bone, and inflammatory diseases and increasing R &D by the key players present in the market by the is set to further enhance the overall market demand of glucosamine supplements during the forecast period 2020-2025.
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Product Type- Segment Analysis
The glucosamine hydrochloride segment held the largest share in the glucosamine supplements market in 2019 and is estimated to grow at a CAGR of 4.91% during the forecast period 2020-2025. The growth in this segment can be attributed to its usage to reduce osteoarthritis. It does not affect cholesterol or triglyceride levels in people with high cholesterol. Glucosamine hydrochloride is applied to the skin in combination with chondroitin sulfate, shark cartilage, and camphor for osteoarthritis. Glucosamine hydrochloride is used for heart disease, knee pains, rheumatoid arthritis, stroke, back pain, and other conditions. Glucosamine hydrochloride is safe for most adults when taken by mouth appropriately for up to 2 years. It can cause gas, bloating, and cramps. The glucosamine hydrochloride is set to be the highest growing segment and is estimated to register the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025.
Application – Segment Analysis
Nutritional Supplements segment held the largest share in the glucosamine supplements market in 2019 owing to the increasing instances of allergy and rising number of vegans, particularly in the U.S. has led manufacturers to develop the product from fungi and other plant sources. The food and beverages are set to be the highest growing segment and are estimated to register the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025 owing to the rising focus towards the production of vegetarian glucosamine as these are considered safe for consumption in food and beverage.
Geography – Segment Analysis
North America dominated the glucosamine supplements market in 2019 with a share of more than 41.3%, followed by Europe owing to the increase in the number of patients dealing with joint and bone pain and also for patients suffering from temporomandibular joint disorders. Growing dietary supplements consumption on account of the rising prevalence of arthritis among consumers coupled with the growing geriatric population and presence of key players that are in the market are also supporting in the growth of the market in this region.
However, Europe is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the increase in disposable income and an increase in the need for glucosamine supplements for promoting the healthy growth of skin and hair. The shift in healthcare from treatment to prevention us encouraging clinicians and patients to change the perception about health and diseases and have a positive impact on the growth of the glucosamine supplements market in this region.
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Drivers – Glucosamine Supplements Market
Increasing the prevalence of chronic diseases such as diabetes, cancer, and obesity is driving the growth of the glucosamine supplements market owing to the need of glucosamine supplements for promoting good health. Increased demand for numerous dietary supplements, ranging from multi-nutritional supplements to glucosamine supplements with enhanced effectiveness and safety of products to retain and attract new segments of consumers the glucosamine supplements market is increasing. The shift in healthcare from treatment to prevention is encouraging clinicians and patients to change the perception about health and diseases. The 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. Thus, increasing the growth of the glucosamine supplements market during the forecast period 2020-2025.
Increasing the adoption of glucosamine supplements in the pharmaceutical industry is increasing the growth of the glucosamine supplements market owing to the growing geriatric population, disorders related to bones and joints such as osteoarthritis, and an increase in the need for glucosamine supplements for promoting the healthy growth of skin and hair. Rising the elderly population and an increase in the prevalence of bone and joint-related disorders like arthritis and osteoporosis across the globe are a few of the primary factors that are responsible for the growth of glucosamine supplements market during the forecast period 2020-2025.
Challenges – Glucosamine Supplements Market
Some of the factors that can impede the growth of the glucosamine supplements market are high cost of glucosamine supplements and side effects of glucosamine supplements along with the less awareness of the benefits of the glucosamine supplements .
Glucosamine Supplements Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Glucosamine Supplements market. In 2019, Glucosamine Supplements Market share is consolidated by the top ten players present in the market. Glucosamine Supplements top 10 companies are Paul Marienfeld, Hecht Assistant, Reckitt Benckiser Group, Cypress Diagnostics, NOW Healthcare Group, HemoCue, KPG Products, Danaher Corporation, GE Healthcare, Jarror Formulas Inc., Nava medic ASA, and Nutraceutix Inc. among others.
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