June 13, 2024

Bone and Joint Health Ingredients Market to Witness High Growth owing to increasing adoption of Alternative Medicine

The bone and joint health ingredients market involves various products that are used to maintain healthy bones and joints throughout life. Glucosamine, collagen, chondroitin sulfate, MSM (methylsulfonylmethane), hyaluronic acid are some of the key ingredients used for bone and joint health supplements. These ingredients help reduce joint pain, stimulate cartilage formation, lubricate joints, and improve mobility. The increasing prevalence of osteoarthritis and other joint disorders due to sedentary lifestyles and growing geriatric population has fueled the demand for bone and joint health ingredients.

The Global bone and joint health ingredients market is estimated to be valued at US$ 3853.12 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the bone and joint health ingredients market are ABB Ltd., Electricity Coordinating Center Ltd., Siemens AG, Energy Exemplar, Atos SE, General Electric Company, Unicorn Systems, ETAP/Operation Technology, Inc., Operation Simulation Associates, Inc., Schneider Electric DMS NS, PSI AG, and Artelys SA.

Key opportunities in the market include rising demand from developing economies and increasing adoption of dietary supplements among millennials and generation Z population. Introduction of new delivery forms such as gummies and chews is also expected to boost the demand.

On the technological front, nanoencapsulation and self-emulsifying drug delivery systems are being researched to enhance the bioavailability of ingredients like curcumin and resveratrol. Companies are also developing nutrient combinations rather than single ingredient supplements for synergistic effects.

Market Drivers

Growing geriatric population susceptible to age-related joint disorders is a key factor driving the Bone And Joint Health Ingredients Market Demand. According to the UN, the number of people aged 60 years and above is expected to reach 2.1 billion by 2050 from 962 million in 2017. Also, increasing prevalence of obesity and related health conditions like diabetes is contributing to the rising joint pain cases thus creating long term demand for bone and joint supplements. Growing consumer awareness about maintaining musculoskeletal health through proper nutrition is also supporting the market growth.

Current challenges in Bone and Joint Health Ingredients Market:

The Bone and Joint Health Ingredients market is facing challenges due to the increasing cases of obesity among the overall population. Obesity has been directly linked with various bone and joint issues like arthritis, joint pain, etc. Moreover, busy lifestyle and lack of physical activity have also increased bone and joint problems significantly. Additionally, growing aging population worldwide who are more prone to bone and joint disorders is another major challenge. Regulations on product claims and advertising is also a challenge for players in this market.

SWOT Analysis

Strength: Bone and joint health ingredients are natural and organic that improves bone and joint structure and health with no side effects.
Weakness: High costs of certain bone and joint health ingredients limits their adoption. Lack of awareness among consumers regarding benefits of these ingredients.
Opportunity: Rising health consciousness, aging population, and increasing incidence of obesity and joint disorders present an opportunity for market growth.
Threats: Stringent regulations regarding product claims and labelling. Increased availability of alternate treatment options.

The North America region dominates the bone and joint health ingredients market currently in terms of value owing to factors like increasing health consciousness, availability of various products and awareness about their benefits. Asia Pacific is expected to be the fastest growing regional market during the forecast period due to rising geriatric population, growing middle class, and rapid urbanization in countries like India and China.

In terms of value, Europe is another major geographical region for bone and joint health ingredients market currently due to increasing prevalence of lifestyle disorders like obesity. However, emerging economies of Latin America and Middle East & Africa are also presenting lucrative opportunities for players due to growing health issues and improving healthcare infrastructure in these regions.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it