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The poly(lactic-co-glycolic acid) (PLGA) market size is forecast to increase by USD 106.84 Billion between 2022 and 2027, accelerating at a CAGR of 8.12%. In 2017, US held the largest market share, projecting an annual revenue of USD 52.6 billion. The report includes a comprehensive outlook on the Poly(Lactic-Co-Glycolic Acid) (PLGA) Market, offering forecasts for the industry segmented by Application, which comprises Personal care and dermatology, Suture, Fracture fixation, and Others. Additionally, it categorizes Type into PLGA 50:50, PLGA 75:25, PLGA 85:15, and PLGA 65:35 and covers Geography regions, including North America, Europe, APAC, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2017 to 2021, and future projections, all presented in terms of value in (USD Billion) for each of the mentioned segments.
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Growing demand for drug delivery applications is a key driver shaping the polylactic-co-glycolic acid market size. The increasing demand for drug delivery applications has led to a search for more efficient and dependable methods. PLGA nanoparticles have emerged as a promising solution. Being biodegradable, they are considered safe for human use, making them an ideal candidate for drug delivery. They have demonstrated effectiveness in transporting various drugs, including anticancer agents, to specific target sites within the body. The complexity of drug delivery requires consideration of the drug type, administration route, and target location.
PLGA nanoparticles offer a suitable choice due to their customizable properties. Their size can be adjusted to reach the desired site, and they can be modified to control drug release over time, which is crucial for short half-life drugs or maintaining steady drug levels. Consequently, the global Polylactic-co-glycolic acid (PLGA) market is expected to witness significant growth in the forecast period.
The market share growth by the personal care and dermatology segment will be significant during the forecast period and value of USD 68.81 Billion in 2017 and exhibit consistent growth until 2021. PLGA is a synthetic biodegradable polymer that has a wide range of applications in personal care and dermatological products. The unique properties of PLGA make it a suitable element for a variety of personal care and dermatological products, including facial fillers, body contouring devices, and skin substitutes. PLGA, being non-toxic and biocompatible, ensures acceptance within the body and safety for use in medical devices. Its biodegradability allows it to break down into lactic acid and glycolic acid after injection, making it an attractive option for facial fillers and injectable products. The controlled release of active ingredients during PLGA's degradation process makes it suitable for drug delivery systems, enabling targeted antibiotic delivery to infection sites without harming healthy tissue. Moreover, PLGA finds utility in skin substitutes to support the healing and regeneration of damaged skin. Consequently, these factors are expected to fuel growth in the personal care and dermatology segment of the global polylactic-co-glycolic acid market growth during the forecast period.
North America is estimated to contribute 35% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America led the global PLGA market in 2022 and is expected to maintain its position due to rising demand for pharmaceuticals. The region's PLGA market growth is driven by the US, a major consumer in personal care and cosmetics. Cost-effectiveness, unique properties, and regulatory approvals support its expansion. As North America's market nears saturation, exports to APAC, the Middle East, and Africa will drive demand. Established companies investing in new applications and favourable R&D scenarios also contribute to growth. Notably, Credence MedSystems received USD39.9 Billion in funding for drug delivery in September 2021. Vendors include Ashland, Bezwada Biomedical, CD Bioparticles, and Foster Corp.
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The Poly(Lactic-Co-Glycolic Acid) (PLGA) Market is fragmented in nature. Some significant players include Akina Inc and Alfa Chemistry.
The polylactic-co-glycolic acid market analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Ashland Inc., Bezwada Biomedical LLC, CD Bioparticles, Corbion NV, Creative PEGWorks, Evonik Industries AG, Foster Corp., Huizhou Foryou Medical Devices Co. Ltd., Koninklijke DSM NV, Merck KGaA, Mitsui Chemicals Inc., Nanosoft Polymers, Nomisma Healthcare Pvt. Ltd., Poly Med Inc., Polysciences Inc., SEQENS GROUP, SPECIFIC POLYMERS, and Zeus Co. Inc.
The polylactic-co-glycolic acid market research report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Poly(Lactic-Co-Glycolic Acid) (PLGA) Market Scope |
|
Report Coverage |
Details |
Page number |
169 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.12% |
Market growth 2023-2027 |
USD 106.84 Billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
7.7 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 35% |
Key countries |
US, China, UK, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Akina Inc., Alfa Chemistry, Ashland Inc., Bezwada Biomedical LLC, CD Bioparticles, Corbion NV, Creative PEGWorks, Evonik Industries AG, Foster Corp., Huizhou Foryou Medical Devices Co. Ltd., Koninklijke DSM NV, Merck KGaA, Mitsui Chemicals Inc., Nanosoft Polymers, Nomisma Healthcare Pvt. Ltd., Poly Med Inc., Polysciences Inc., SEQENS GROUP, SPECIFIC POLYMERS, and Zeus Co. Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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