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NEW YORK CITY, NEW YORK, UNITED STATES, June 8, 2023/EINPresswire.com/ -- Glucosamine Market Overview

The global market for glucosamine exhibited significant strength in 2020 and is projected to experience consistent revenue growth throughout the forecast period. Key factors propelling the growth include the increasing elderly population, a rising prevalence of joint ailments like rheumatoid arthritis, osteoarthritis, and gout, a growing incidence of chronic diseases such as diabetes and obesity, and a growing demand for nutritional and dietary supplements, particularly among health-conscious consumers.
Glucosamine is a naturally occurring amino sugar in the human body that provides support to the joints by acting as a cushion. It is also present in seashells and can be commercially produced through the fermentation of grains like wheat or corn or through the hydrolysis of exoskeletons of shellfish. Synthetic forms of glucosamine have a wide range of medical applications. The combination of glucosamine and chondroitin is commonly used in the treatment of individuals with joint disorders like osteoarthritis and rheumatoid arthritis. Glucosamine hydrochloride, one of the most prevalent forms of glucosamine, is utilized in the management of conditions such as joint pain, rheumatoid arthritis, osteoarthritis, glaucoma, and temporomandibular disorder (TMD).

Glucosamine Market Segments

The global market for glucosamine is segmented based on form and product type. In terms of form, the market is categorized into powder, tablets, capsules, gel, and liquid. The revenue generated by each form is projected to be measured in USD billion for the period of 2018-2028.
When it comes to product type, the market is further divided into glucosamine hydrochloride, N-acetyl glucosamine, glucosamine sulfate, and others. The revenue for each product type is also estimated in USD billion for the same period.
These segmentation categories allow for a comprehensive analysis of the glucosamine market, providing insights into the revenue generated by different forms and product types. Such information is valuable for market players and stakeholders in understanding the dynamics and potential opportunities within the global glucosamine industry.

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Glucosamine Market: Strategic Developments

In the glucosamine market, there have been several strategic developments undertaken by key players and industry participants to enhance their market position and meet the evolving needs of consumers. These strategic initiatives include:
1. Product Launches: Companies operating in the glucosamine market have focused on introducing new and innovative products to cater to a wider range of consumer preferences. These product launches often involve the introduction of novel formulations, improved delivery methods, or additional health benefits. By expanding their product portfolios, companies aim to attract new customers and strengthen their competitive advantage.
2. Partnerships and Collaborations: Collaborations between different entities within the glucosamine industry have become increasingly common. Companies are forming strategic partnerships with research institutions, universities, and other organizations to leverage their expertise in product development, clinical studies, and market insights. Such collaborations help in accelerating the research and development process, fostering innovation, and expanding market reach.
3. Acquisition and Mergers: In order to expand their market presence and consolidate their position, companies have pursued acquisitions and mergers. These strategic moves allow for the integration of complementary products, technologies, or distribution networks, leading to synergies and increased market share. Additionally, acquisitions and mergers enable companies to gain access to new markets or strengthen their foothold in existing ones.
Overall, these strategic developments in the glucosamine market reflect the dynamic nature of the industry and the efforts of companies to stay ahead in a competitive market landscape. By focusing on product innovation, collaborations, acquisitions, geographical expansion, and R&D investments, companies aim to meet the evolving needs of consumers and achieve sustainable growth.

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Glucosamine Market: Competitive landscape

Teva Pharmaceutical Industries Ltd., Cargill, NOW Health Group, Inc., Mylan N.V., Health World Limited, Foodchem International Corporation, Atlina Life Sciences Pvt. Ltd., Schiff Nutrition International, Inc., Bio-gen Extracts Pvt. Ltd., Pharma Base S.A., CAPTEK Softgel International Inc., TSI Health Sciences, Inc., CellMark USA LLC, Wellable Marine Biotech Holding Limited, Spectrum Chemical Manufacturing Corporation, G.T.C. Union Group Ltd., and Golden-Shell Pharmaceutical Co. Ltd. are leading players operating in the global glucosamine market.

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