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The poly(lactic-co-glycolic acid) (plga) market size is valued to increase USD 137.5 million, at a CAGR of 9.46% from 2023 to 2028. Growing demand for drug delivery applications will drive the poly(lactic-co-glycolic acid) (plga) market.
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The poly(lactic-co-glycolic acid) (plga) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The personal care and dermatology segment is estimated to witness significant growth during the forecast period.
PLGA, a biodegradable polymer derived from lactic and glycolic acids, is gaining significant traction in various sectors, including personal care and biomedical applications. This FDA-approved polymer exhibits excellent biocompatibility, making it a safe choice for medical devices and pharmaceutical formulations. In tissue engineering, PLGA is widely used as a scaffold material due to its adjustable degradation rate, which can be controlled through the lactide-glycolide ratio. PLGA's mechanical properties, such as thermal stability and polymer crystallinity, make it suitable for microfluidic fabrication, injection molding, and melt electrospinning techniques. The degradation mechanism of PLGA involves hydrolytic degradation, resulting in lactic and glycolic acids.
This property is particularly attractive for controlled drug delivery systems, where the degradation rate and release profile can be tailored to specific therapeutic needs. For instance, PLGA microspheres have a high drug loading capacity and can be used for encapsulation efficiency of up to 90%. In vivo studies have demonstrated PLGA's therapeutic efficacy in various applications, including sustained release formulations for pain management and tissue engineering. The pore size distribution and scaffold architecture of PLGA can be manipulated through various methods, such as acid-catalyzed hydrolysis and surface modification techniques, to enhance cellular response and improve overall performance.
The Personal care and dermatology segment was valued at USD 73.60 million in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 40% 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.
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The Polylactic-co-glycolic acid (PLGA) market holds a prominent position in the global industry landscape, with North America leading the charge. In 2023, North America claimed the largest market share, a trend anticipated to persist throughout the forecast period. This dominance can be attributed to the burgeoning demand from the pharmaceutical sector in the region. The US, specifically, is the primary consumer of PLGA, primarily utilized in the personal care and cosmetics industry due to its superior properties.
The increasing consumption of personal care products and cosmetics, coupled with the escalating demand for PLGA in pharmaceutical applications, fuels the market's growth in North America. Additionally, the rising export of cosmetics from the US further boosts the market's expansion.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is a dynamic and innovative sector, characterized by continuous advancements in PLGA microsphere drug release modeling, biodegradable implants, and tissue engineering applications. PLGA, a copolymer of lactic acid and glycolic acid, offers unique properties such as biocompatibility, biodegradability, and controllable degradation rates, making it an ideal choice for various medical and pharmaceutical applications. One critical factor influencing the performance of PLGA is its molecular weight, which significantly affects its degradation rate. A higher molecular weight generally leads to slower degradation, while a lower molecular weight accelerates the process. The lactide-glycolide ratio also plays a crucial role in drug release, with a higher lactide content resulting in slower release rates.
In vitro degradation studies of PLGA nanoparticles reveal essential insights into their behavior, shedding light on their potential applications. Biocompatibility is another essential aspect, with PLGA-based scaffolds demonstrating excellent compatibility with various cell types. The mechanical properties and degradation behavior of PLGA films are also essential considerations, as they impact drug release kinetics and the overall performance of PLGA-based delivery systems. Surface modification techniques have been extensively explored to enhance the efficacy of PLGA-based drug delivery systems. Controlled drug delivery via PLGA microspheres is a popular approach, with nanoparticle size and cellular uptake being critical factors influencing their performance.
The bioresorption profile of PLGA implants is another area of intense research, as it determines their suitability for specific applications. PLGA-based drug delivery system design involves careful optimization of the manufacturing process, including the assessment of degradation products and the impact of crystallinity on degradation rates. PLGA microsphere fabrication techniques and nanoparticle synthesis optimization are essential aspects of this process. The manufacturing process of PLGA medical devices also plays a crucial role in ensuring consistent quality and performance. Drug loading and encapsulation in PLGA are essential steps in creating effective drug delivery systems. Biodegradation kinetics of PLGA polymers provide valuable insights into their long-term behavior, while PLGA-based tissue engineering applications continue to expand, offering promising solutions for regenerative medicine and biomedical engineering.
Compared to traditional synthetic polymers, the adoption of PLGA in the medical and pharmaceutical industries is growing significantly, with more than 60% of new product developments focusing on biodegradable polymers like PLGA. This trend is driven by the growing demand for minimally invasive procedures and the increasing awareness of the environmental impact of synthetic polymers.
The poly(lactic-co-glycolic acid) (plga) market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the poly(lactic-co-glycolic acid) (plga) market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Poly(Lactic-Co-Glycolic Acid) (Plga) Industry
Companies are implementing various strategies, such as strategic alliances, poly(lactic-co-glycolic acid) (plga) market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Akina Inc. - The company specializes in providing biodegradable polymer solutions, specifically Poly(lactic-co-glycolic acid) (PLGA), such as Viatel bioresorbable polymers, for various applications in the medical field. These polymers offer advantages like controlled drug release and tissue engineering, contributing significantly to the industry's advancements.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Poly(Lactic-Co-Glycolic Acid) (Plga) Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
179 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.46% |
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Market growth 2024-2028 |
USD 137.5 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.43 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, and Rest of World (ROW) |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What is the expected growth of the Poly(Lactic-Co-Glycolic Acid) (Plga) Market between 2024 and 2028?
USD 137.5 million, at a CAGR of 9.46%
What segmentation does the market report cover?
The report is segmented by Application (Personal care and dermatology, Suture, Fracture fixation, and Others), Type (PLGA 50:50, PLGA 75:25, PLGA 85:15, and PLGA 65:35), Geography (North America, Europe, APAC, South America, and Middle East and Africa), End-use Industry (Pharmaceutical, Biomedical, and Cosmetics), and Distribution Channel (Direct Sales, Distributors, and Online)
Which regions are analyzed in the report?
North America, Europe, APAC, South America, and Middle East and Africa
What are the key growth drivers and market challenges?
Growing demand for drug delivery applications, Stringent regulations on PLGA
Who are the major players in the Poly(Lactic-Co-Glycolic Acid) (Plga) Market?
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.
We can help! Our analysts can customize this poly(lactic-co-glycolic acid) (plga) market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Market Segmentation by End-use Industry
9 Market Segmentation by Distribution Channel
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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