Published on : Apr 20, 2016
Collagen refers to the protein found in animals. At present, over 28 types of collagen are found in nature. Collagen has found its applications across several industries such as food and beverage, cosmetics, nutraceuticals, and pharmaceuticals. According to a report published by a market intelligent company called Transparency Market Research, the global collagen market is expected to expand at a CAGR of 9.4% from 2015 to 2023 and is expected to be worth US$9.4 bn in 2023, after being valued at US$4.1 bn in 2014.
Rising Demand for Novel Drug Delivery Systems Boosts the Collagen Market
Collagen is found in the connective tissues of a human body. Collagen supplements are often prescribed to patients suffering from rheumatoid arthritis and osteoarthritis to replace the collagen in their joints. Collagen is also used for tissue engineering. Collagen helps in wound healing and is used as bone graft substitutes. Collagen is highly in demand by novel drug delivery systems. Novel drug delivery systems in wound healing, ophthalmology, and several other therapeutic areas are likely to boost the adoption of collagen, thus benefitting the market.
Risk of Disease Transmission from Bovine and Porcine Collagen Sources Restricts the Collagen Market
The high risk of disease transmission from bovine and porcine is anticipated to restrict the global collagen market in the future. Moreover, many religious beliefs and cultural values have a negative influence on the acceptance of collagen based products. The demand for bovine and porcine sources which accounted for 60% of the total collagen market in 2014 is thus expected to decline in the forthcoming years. However, the marine collagen products segment will record the highest growth rate in the coming years.
Chicken collagen is used for supporting the cartilage of the body. However, chicken collagen causes allergy and is thus, not preferred in medical applications. Demand for rat tail and equine sources of collagen are expected to rise in the future.