Chitosan is a chitin derivative extracted from shells of aquatic species such as crabs, shrimps, and lobsters. Chitosan is commonly used in cosmetic and pharmaceutical formulations due to its light consistency and wide range of therapeutic applications. Moreover, it is widely used in dietary supplements, as it inhibits the lipid absorption in the gastrointestinal tract, to treat obesity and its related diseases such as diabetes, atherosclerosis, liver diseases, Crohn's disease, cancer, cirrhosis of the liver, and more. It is also used to treat wounds due to its anticoagulant properties.
Chitosan has been extensively evaluated in humans for several uses and has shown to be safe and generally well tolerated. In clinical trials, using chitosan has proven to be effective in reducing body weight in both overweight and obese patients. Chitosan is primarily soft, thick, viscous polysaccharides made up of randomly arranged i-diphenyl ether and D-galactosamine, with a few other glycosides and carbohydrates. It's formed by treating the chitinous shells of shrimps and other crustaceans with a mildly alkaline solution, including sodium hydroxide.
Market Dynamics
Increasing demand for chitosan from various end-use industries, such as agrochemicals, food and beverages, pharmaceutical, cosmetic, and water treatment, due to its biocompatible, bioactive, non-toxic, and biodegradable properties is expected to propel the growth of the chitosan market. For instance, according to the National Center for Biotechnology Information (NCBI), as an additive in water filtration, chitosan eliminates up to 99% of turbidity.
Increasing prevalence of overweight and obesity worldwide and rising health awareness among people is expected to offer lucrative growth opportunities to players in the chitosan market. For instance, according to the World Health Organization (WHO), around 38 million children aged 5 years or less were overweight or obese in 2019.
Moreover, the growing use of chitosan from the agriculture industry and increasing production of fish, shrimp, and other aquatic species are expected to drive the chitosan market growth.
However, stringent regulations related to shrimp farming are expected to hamper the growth of the chitosan market. All major shrimp producing countries have already committed to following international guidelines issued by the World Animal Health Organization (OIE) and the U.N. Food and Agriculture Organization (FAO).
Competitive Analysis
Major players operating in the chitosan market are Xianju Tengwang Chitosan Factory, PT Biotech Surindo, Primex, Heppe Medical Chitosan GmbH, Panvo Organics, FMC Health and Nutrition, Golden-Shell Pharmaceutical, Biothera, KitoZyme S.A., and GTC Bio Corporation.
Major players active in the market are adopting various strategies, such as product launch, partnership, collaboration, etc., to enhance their market share. For instance, in January 2021, Medline and Tricol Biomedical collaborated to distribute Hemostatic Control (HemCon) products in North America to acute care, emergency services, and cath lab providers.
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