Global bone and joints ingredients market set to increase by 6.5% CAGR during 2013 to 2018
Global Bone and Joint Ingredients Market 2014-2018 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-21 04:09:04
The Global Bone and Joint Ingredients Market is forecast to increase with a CAGR of 6.53 percent for the period 2013-2018.
The Global Bone and Joint Ingredients market is witnessing an increasing demand for natural or bio-based products. An increase in awareness of the benefits of natural bone and joint health products compared to synthetic products has fueled the demand for natural or bio-based ingredients. Such natural ingredients are derived from a variety of sources such as plants and marine organisms. For instance, Ethical Naturals Inc., a US-based supplier of botanical extracts and ingredients, offers naturally sourced glucosamine, called GreenGrown, which is produced through corn fermentation. Also, Waitaki Biosciences, a New Zealand-based manufacturer of natural supplement ingredients, offers collagen and chondroitin complex, which is sourced from bovine cartilage.
One of the major drivers in this market is the increase in the aging population. The number of people aged 60 or over is expected to double in the next 50 years, thereby resulting in increased demand for healthcare products.
Further, one of the main challenges in this market is the stringent laws and regulations governing the market, which requires vendors to contend with elaborate procedures before the approval of a new ingredient. Such regulations are particularly onerous in developed regions such as North America and Europe.
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