Medical Grade Chitosan Market Size, Share, Growth, and Industry Analysis, By Type (Portable Type and Desktop Type), By Application (Petrochemical, Automotive, Aerospace, Medical Equipment, Healthcare, and Others), Regional Insights, and Forecast To 2031

Medical Grade Chitosan Market REPORT OVERVIEW

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The global medical grade chitosan market size was USD 34 million in 2021 and market is projected to touch USD 72.7 million by 2031, at a compound annual growth rate (CAGR) of 7.8% during the forecast period.

Chitosan is a natural substance that is derived from the shells of crustaceans, such as crabs and shrimp. It is mainly used in food preservation, but also has some medical purposes such as preventing excessive weight accumulation and strengthening the capillary walls. It has been used as a biopolymer to produce various medical grade products such as film, hydrogels, coatings for catheters, wound dressings, and surgical devices. In the medical device industry, Chitosan has gained popularity over the last decade due to its ability to reduce biofilm formation and prevent infection. In recent years, Chitosan has been used extensively in surgical adhesive tapes because of its unique ability to adhere when wet.

COVID-19 Impact:  Market Witnessed Encouraging Impression During Pandemic

In the year 2019, the COVID-19 outbreak commenced in China and affected all the nations in the world gradually. Consequently, the pandemic impacted every business industry. The production rate decreased in several industries. However, the demand in the healthcare & pharmaceutical industry is increased. On the other hand, the demand for chitosan is rising. Because chitosan contains hydroxy and amino group which is helpful in COVID-19 diseases. Besides, during the lockdown period, the government imposed restrictions on other industries whereas the healthcare industry was permitted to work more & more to supply drugs for covid treatment.

LATEST TRENDS

"Rising Awareness About Healthcare Among Consumers to Boost Market Growth"

The latest trend in the market is that there has been an increased demand for better quality raw materials for the production of high-quality products. The driving factor behind this increasing demand due to the increased awareness about health and health care among consumers. Another factor is also the continued increase in the number of diseases and illnesses being diagnosed by doctors globally. The growth prospects are strong because these new trends show that consumption will continue to grow with time. With this increase in consumption, revenue will rise too as industry competition rises due to rapid growth in demand for new product development.

Medical Grade Chitosan Market SEGMENTATION

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• By Type

On the basis of type, the market is separated into animal origin chitosan, plant based chitosan and others.

The animal origin chitosan is the largest segment of the market.

• By Application

On the basis of application, the market is divided into wound care, healthcare products, antibacterial products.

The antibacterial products are the largest segment of the market.

DRIVING FACTORS

"Benefits Of Cure Various Diseases to Enhance Market Growth"

Medical Grade Chitosan is a substance that has been shown to be effective in treating complications such as plaque build-up, gum disease, and inflammation. The demand for chitosan is high because of its medical benefits.

"Anti-Obesity Elements to Augment Market Growth"

A number of pro-chitosan studies have been conducted over the past few years, showing that chitosan may be an effective therapy for obesity. This has led to an increased demand for chitosan in the medical grade area. In addition, with advances in technology and competition in this market shrinking rapidly, there will be more opportunities for growth in this area as well.

RESTRAINING FACTORS

"Less Effective on Teeth to Constrain Market Growth"

These growth projections lie upon companies investing heavily in research which leads to more awareness about chitosan as a health supplement. One potential restraint could be some reports suggesting that it may not work as well on teeth as it does on gums and that the benefits are short-lived when used over time.

Medical Grade Chitosan Market REGIONAL INSIGHTS

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"Asia Pacific Leading the Market owing to Ease of Access"

As regards of regional insights, Asia Pacific has emerged as a key revenue contributor due to easy accessibility of crustacean such as crabs, lobster, shrimps on the coastline in Asia continent. Further, the major consumer and producer countries are China, Thailand, and Japan. Which lead the market growth, demand & supply. Along with the increased adoption rates for medical grade chitosan supplements in this region due to its availability through online stores and traditional retail outlets boost the demand in the region. As a result, the leading regions are inducing the medical grade chitosan market growth.

KEY INDUSTRY PLAYERS

"Competition among several industries  "

The size of the medical grade chitosan market varies significantly in different regions as it is highly influenced by lifestyle habits that are not seen across regions. Pharmaceutical companies are producing more medical grade chitosan. Other than the demand in the pharmaceutical industry, the food, and water treatment industries need a chitosan supply. Therefore, the market growth rate is high and it is expected to grow in the future progressively. Prominent market players are investing in this industry and research. Leading brands such as Primex, and KitoZyme along with others are investing in and ruling the market with high revenue growth rate. Also, the major companies own the medical grade chitosan market shares.

LIST OF TOP Medical Grade Chitosan COMPANIES

• Primex
• KitoZyme
• BIO21
• YSK
• Vietnam Food
• NovaMatrix
• KIMICA
• Ningbo Zhenhai Haixin Biological
• Golden-Shell Pharmaceutical
• Zhejiang Fengrun Biotech
• Jiangsu Shuanglin
• Jiangsu Aoxin Biotechnology
• Qingdao Yunzhou Biochemistry

INDUSTRY DEVELOPMENT

The medical grade chitosan market has been developing due to its demand in medical, cosmetic, food, and water treatment relevancy. Along with this, chitosan is widely used in the medical industry to treat different health conditions, such as obesity, diabetes, gastric bypass surgery, and high cholesterol. The water treatment industry kept the largest share in the previous year as per the data report. The food industry holds enough amount of share in the chitosan market. In recent years, Chitosan is being used in food preservatives which enhance the shelf life of food.  Additionally, chitosan is Thus, the growth rate of the medical grade chitosan market is growing fast due to its rising demand in several industries.  

REPORT COVERAGE

This report is intended to give readers a general idea about the size of the medical grade chitosan market for future reference. Also, an overview of the medical grade chitosan market by product, region, and by application. Besides, this report discusses the latest trend in this field, growth forecast and share, driving factor and restraints, and identify various factors that are expected to have a positive impact on the growth of the chitosan market during the forecast period and give recommendations on how these factors can be leveraged to create future opportunities in the near term. As well as, the report explains, the COVID-19 impact on the industry and the geographical data analysis about the growing market, prominent competitors, their annual growth, manufacturing prices, and the demand rate in the food, pharmaceutical, and water treatment industry. The market is expanding in the last recent years also anticipated growing in the future.