Global Glucosamine Market, by Product Type (Powder, Tablets , Capsules, and Liquid), by Application (Rheumatoid Arthritis, Asthma, Inflammatory Bowel Disease, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 763.7 million in 2020 and is expected to exhibit a CAGR of 5.2% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Focus of academic and research institutes on research and development activities is expected to drive the global glucosamine market growth. For instance, in 2018, the University of Siena initiated an investigational clinical study for the treatment of hand osteoarthritis with glucosamine. The study was completed in 2019, and results are yet to be disclosed by the University of Siena.
Global Glucosamine Market – Impact of Coronavirus (COVID-19)
- The COVID-19 pandemic has drastically impacted each and every market across the world and it is also expected to impact glucosamine market
- Regulatory authorities have implemented various guidelines regarding the manufacture of active pharmaceutical ingredients and pharmaceutical products to avoid spread of COVID-19 and to reduce the contamination of active pharmaceutical ingredients during the manufacturing process.
- According to the U.S. Food Drug and Administration’s report of June 2020 during the COVID-19 public health emergency, drug manufacturers should follow the following current good manufacturing practice (CGMP) regulations and recommendations regarding restriction of sick employees from production areas:
- Any employee or worker in a production unit should be medically evaluated to check whether the individual is suffering from an infectious diseases such as COVID-19.
- If any of the individuals are experiencing COVID-19 symptoms, they shall be restricted from entering the production house premises of the company to avoid contamination of drugs and active pharmaceutical ingredients (API). .
Browse 28 Market Data Tables and 32 Figures spread through 160 Pages and in-depth TOC on “Global Glucosamine Market, by Product Type (Powder, Tablets, Capsules, and Liquid), by Application (Rheumatoid Arthritis, Asthma, Inflammatory Bowel Disease, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)”
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The global glucosamine market is expected to witness significant growth during the forecast period owing to research and development activities by academic and research institutions. For instance, in 2019, the Fred Hutchinson Cancer Research Center started the investigational clinical trial to study safety and efficacy of Glucosamine and Chondroitin in individuals suffering from inflammatory bowel diseases.
Key Takeaways of the Global Glucosamine Market:
- The global methadone hydrochloride market is expected to exhibit a CAGR of 5.20% during the forecast period owing to rising prevalence of various health disorders such as asthma and inflammatory bowel diseases. According to the National Library of Medicine report published in 2018, an estimated 1.3% of US adults (3 million) were reportedly diagnosed with IBD (either Crohn’s disease or ulcerative colitis) in 2015.
- Among Product type, the powder segment is estimated to hold major market share in the global glucosamine market during the forecast period owing to launch of glucosamine products indicated for the treatment of diseases such as rheumatoid arthritis.
- Among application, the rheumatoid arthritis segment is estimated to hold major market share in the global glucosamine market during the forecast period, owing to increasing prevalence of rheumatoid arthritis globally.
- Key players operating in the global glucosamine market are Bio-gen Extracts Private Limited, Panvo Organics Pvt Ltd, Pharma Base S.A., CAPTEK Softgel International Inc., TSI Health Sciences, Inc., Cargill, CellMark Chemicals, Andra Medi Pharma Pvt.Ltd, Zhejiang Zhoushan Putuo Xinxing Pharmas Co., Ltd. (PXPC), JIAXING HENGJIE BIOPHARMACEUTICAL CO.,LTD. , Wellable Marine Biotech Holding Limited, Zhejiang Shinfuda Marine Biotechnology Corp, Spectrum Chemical Manufacturing Corporation and Atlina Life Sciences.