Chitosan Market Is Witnessing Growth Due to Increasing Demand for Skincare Products and Growing Health Consciousness
Luton, Bedfordshire, United Kingdom, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Chitosan Market.
The global chitosan market is expected to grow at 9.5% CAGR from 2020 to 2029. It is expected to reach above USD 1,215.2 million by 2029 from USD 480.5 million in 2020.
Chitosan is a sugar derived from the exoskeleton of crustaceans such as crabs, lobsters and shrimps. Chitosan is a fibrous compound derived from the shells of crustaceans such as shrimp, lobster, and crab. It is found as a dietary supplement, part of food packaging, or as part of wound care. Chitosan is a polysaccharide with N-acetyl-D-glucosamine and D-glucosamine links. Developments in chitosan chemistry and the development of improved enzymes will enable chitosan producers to pursue new income opportunities.
Continuous developments in chitosan processing and breakthroughs in genetic engineering approaches have accelerated the chitosan market’s expansion. The availability of chitosan is a major motivator for R&D into the biomedical uses of this biopolymer. Developments in chitosan chemistry and the development of improved enzymes will enable chitosan producers to pursue new income streams by addressing the needs of medication delivery systems.
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In March 2021, in Brazil, the University of Brasilia, in collaboration with the University of Campinas, Brazil, Centro de Pesquisa em Biotecnologia Ltda, Hospital Regional da Asa Norte (HRAN), Hospital da Região Leste (HRL), and Hospital Universitário de Brasília (HUB/UnB), was conducting VESTA clinical trial to assess the effectiveness of a novel respirator with chitosan nanoparticles to reduce the incidence of SARS-CoV-2 infection in healthcare professionals.
In March 2020, Sebela Pharmaceuticals received approval from the United States Food and Drug Administration (FDA) for Pizensy (lactitol) in the treatment of chronic idiopathic constipation (CIC) in adults. Penny is an osmotic laxative that works by causing the influx of water into the small intestine leading to a laxative effect in the colon.
Use in a variety of biomedical applications to propel several opportunities.
The widespread use of chitosan in biomedicine and pharmaceuticals has created a plethora of lucrative prospects throughout the years. Because of its low toxicity, biocompatibility, and biodegradability, chitosan and other chitin derivatives have piqued the interest of many end-use businesses. The antibacterial activity of chitosan has been expanding, which is projected to open up new revenue streams.
According to the National Center for Biotechnology Information (NCBI), deacetylated chitosan is an important ingredient in infiltration and water treatment since it removes 99 percent of turbidity. Furthermore, chitosan is a readily available product extracted from a waste product in the fishery industry with a variety of applications in other industries such as wound care material in pharmaceutical industries, acts as a natural flavor, and is used to control moisture in food industries, resulting in high demand for these polymers and boosting the overall market.
From large companies to small ones, many companies are actively working in the chitosan market. These key players include Primex ehf, Heppe Medical Chitosan GmbH, Vietnam Food, KitoZyme S.A, Agratech, Advanced Biopolymers AS, BIO21 Co, Ltd, G.T.C. Bio Corporation, Taizhou City Fengrun Biochemical Co, Ltd, Zhejiang Golden-Shell Pharmaceutical Co.Ltd, and others.
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Regional Share Analysis-> The Asia Pacific accounts for the bulk of the market share. Asia Pacific shares 35% of the total market. Small and medium-sized market participants are prevalent in Asian countries such as India, Japan, China, Thailand, and South Korea. These countries have supportive government policies that boost the fishing sector. Increased expenditures in R&D operations to create high-quality chitosan are also propelling the worldwide market forward.
Browse In-depth Market Research Report (111 Pages) on Chitosan Market: https://exactitudeconsultancy.com/reports/4443/chitosan-market/ Frequently Asked Questions Section
What will be the market growth rate for Chitosan?
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What are the sales, volume and price analyzes of the leading Chitosan makers?
Who are the distributors, dealers, and dealers in the Chitosan?
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What is Chitosan Sales, Revenue, and Price Analysis by Type and Industry Application?
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