Celadrin Supplements Market Sees Significant Increase in Demand at a CAGR 7.3% By 2033 | Persistence Market Research
Increase in Demand of Celadrin Supplements for Arthritis Patients to pave way for Celadrin Supplements Market: Opportunities Ahead
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The Celadrin Supplements Market revenues were estimated at US$ 405 Million in 2022 and are anticipated to grow at a CAGR of 7.3% from 2023 to 2033, according to a recently published Persistence Market Research report. By the end of 2033, the market is expected to reach an US$ 887 Million valuations. Celadrin capsules demand is projected to grow at a CAGR of 7.2% from 2023 to 2033.
Celadrin Supplements are prescribed to people suffering from arthritis, joint pain, and psoriasis. They are available in retail stores and online platforms in the form of capsules and gel. Arthritis has become the most common disease worldwide.
Inflammation of one or more joints, such as the knees, wrists, knuckles, or ankles, is known as arthritis or joint disease.
Joint pain, edema, and stiffness can develop as arthritis progresses from its first stage of joint inflammation. There are more than 100 types of arthritis. It is the 3rd most common condition causing disability after diabetes and dementia. Around 54.4 million people are suffering from arthritis in the U.S. alone.
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This number is estimated to reach 78 million by 2040. Also, 8 million people are affected by psoriasis. According to the Centers for Disease Control and Prevention, the annual cost of work disability medical treatment and missed wages due to arthritis to the American public health system is more than $303 billion. Whereas, Osteoarthritis is a significant national health burden, with hospitalizations in the United States costing more than $16 billion in total. As Celadrin is prominently used in the treatment of arthritis its market is expected to grow.
Competitive Analysis:
Key players in the Celadrin supplements market are Now Foods, Ergomax, Ashland, Pacific Rainbow International Inc., RichesM Healthcare, Life Extension, Abbott Laboratories Incorporation, Pfizer Inc., Bayer AG, and Eli Lilly and Company.
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Some of the recent developments in the Celadrin Supplements Market are:
In January 2023, Bayer AG, a German pharmaceutical company acquired Blackford Analysis Ltd., an imaging AI platform and solutions provider. This acquisition will enhance the company’s position in digital medical imaging. It will help Bayer to elevate their radiology portfolio and digital health innovations. This acquisition will lay the foundation of Bayer’s new medical imaging platform “Calantic Digital Solution”.
In January 2023, Bayer AG collaborated with Google to speed up Bayer’s research and development. Using the Google TensorFlow processing units Bayer will be enabled to run large quantum chemistry calculations at a large scale. This will help to speed up the drug discovery process. Google Cloud’s Tensor Processing Units are designed to run advanced machine learning models and carry out intensive workloads which will help in accelerating the calculations during the drug discovery process.
In January 2023, Eli Lilly and Company announced that they plan to invest US$ 450 million to expand their manufacturing capacity research triangle park facility in northern California. Their aim is to find innovative solutions to fulfill their increasing demand for medicine.
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More Insights Available
Persistence Market Research, in its new offering, presents an unbiased analysis of the Celadrin Supplements market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.
The study reveals extensive growth in Celadrin Supplements in terms of supplements by Form (Capsule, Gel), by Application (Arthritis, Joint Pain, Psoriasis), by Sales Channel (Retail Sales, Online Sales), and by Region – 2023 to 2033 and by Region - from 2023 to 2033.
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