Poly(Lactic-Co-Glycolic Acid) (PLGA) Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, China, UK, Germany, France - Size and Forecast 2023-2027

Poly(Lactic-Co-Glycolic Acid) (PLGA) Market Forecast 2023-2027

The Poly(lactic-co-glycolic acid) (PLGA) Market size is forecast to increase by USD 106.84 million at a CAGR of 8.12% between 2022 and 2027. The market growth is driven by increasing demand for drug applications, reflecting the growing need for biodegradable polymers in pharmaceutical formulations. Additionally, the market is witnessing a notable trend towards the adoption of electrospinning and 3D printing technologies, driving innovation in PLGA-based products. However, stringent regulations on PLGA pose a challenge to market growth, necessitating compliance with quality and safety standards. Despite this hurdle, advancements in PLGA research and development continue to fuel its application across various industries, promising a resilient market outlook. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.

What will be the Size of the Poly(Lactic-Co-Glycolic Acid) (PLGA) Market During the Forecast Period?

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The market is shaped by emerging market trends and advancements in manufacturing processes, particularly condensation polymerization. PLGA, derived from lactic acid and glycolic acid, offers versatile applications owing to its tunable properties, influenced by reaction conditions and molecular weight. The purification process plays a critical role in ensuring the quality of PLGA, impacting its suitability for various formulation parameters and therapeutic agents. Within the pharmaceutical industry, PLGA serves as a cornerstone for controlled drug delivery systems, including microspheres, driving innovation and growth in this dynamic market segment.

Market Dynamics and Customer Landscape

The market is experiencing significant growth attributed to its biodegradable and biocompatible properties, ideal for implants and targeted drug delivery systems in tissue engineering and personalized medicine. PLGA enables advanced therapies with reduced side effects, aligning with sustainability and environmental stewardship goals in packaging and agriculture. Research and development focus on emerging market trends and government initiatives, enhancing manufacturing processes like condensation polymerization. Factors such as lactic acid composition, reaction conditions, and molecular weight influence PLGA's properties, ensuring efficacy in various therapeutic agents. PLGA forms microspheres and nanoparticles vital for controlled drug delivery systems. Our researchers analyzed the data with 2022 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.

Key Market Driver

Growing demand for drug delivery applications is a key driver shaping the market. 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 market is expected to witness significant growth in the forecast period.

Significant Market Trends

Rising demand for electrospinning and 3D printing technologies is a major trend shaping the market growth. PLGA, a biodegradable and biocompatible polyester, has found diverse medical applications, including drug delivery and tissue engineering. Recently, it has been explored for electrospinning and 3D printing applications. Electrospinning involves drawing electrically charged polymer solutions into fine fibers, creating scaffolds with small pores, ideal for tissue regeneration.

3D printing allows complex three-dimensional structures to be made from digital models. PLGA excels in both electrospinning and 3D printing due to its biocompatibility and natural degradation in the body. These technologies hold promise for medical use, and PLGA's properties make it suitable for crafting biomedical devices for safe implantation. As a result, the global market is predicted to grow significantly during the forecast period.

Major Market Challenge

Stringent regulations on PLGA are a major challenge hindering market growth. The utilization of PLGA in medical devices has surged recently due to its biocompatibility and biodegradability within the body. Nonetheless, the degradation process may cause local adverse reactions like inflammation, and the release of degradation products can lead to systemic toxicity. This necessitates a stringent regulatory framework for PLGA-based medical devices.

Currently, the US Food and Drug Administration (FDA) regulates them under general medical device rules, but specific guidelines are necessary due to PLGA's unique properties. These guidelines should cover device design, manufacturing, testing, raw material selection, characterization, and post-market surveillance. Although the FDA has issued voluntary guidance documents, a lack of mandatory regulations tailored to PLGA-based devices hampers their regulatory landscape. Improving the regulatory framework with specific regulations and comprehensive patient monitoring guidelines could address these issues. Consequently, these factors are expected to impede the growth of the global market during the forecast period.

Customer Landscape

The market research 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Market Segmentation

This market report extensively covers market segmentation 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), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). The application segment of the market showcases the versatility and sustainability of this biodegradable and biocompatible polymer across various industries. PLGA's biodegradable nature makes it an ideal material for implants and tissue engineering applications, offering compatibility with the human body and facilitating advanced therapies and personalized medicine. Its use in targeted drug delivery systems not only enhances treatment efficacy but also reduces side effects, improving patient outcomes. Furthermore, PLGA contributes to sustainability and environmental stewardship efforts, finding applications in eco-friendly packaging, agricultural solutions, and research and development initiatives. Government initiatives support the adoption of PLGA, encouraging its use in various sectors. The purification process and formulation parameters play crucial roles in optimizing PLGA's properties for specific applications, ensuring its effectiveness and safety across diverse fields of use.

Application Insights

The market share growth by the personal care and dermatology segment will be significant during the forecast period. 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.

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The personal care and dermatology segment achieved a value of USD 68.81 million in 2017 and exhibited consistent growth until 2021. 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 healing and regeneration of damaged skin. Consequently, these factors are expected to fuel growth in the personal care and dermatology segment of the global poly lactic-co-glycolic acid market during the forecast period.

Regional Insights

North America Region

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.

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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 of 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 favorable R&D scenarios also contribute to growth. Notably, Credence MedSystems received USD39.9 million in funding for drug delivery in September 2021. Vendors include Ashland, Bezwada Biomedical, CD Bioparticles, and Foster Corp.

Who are the Major Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Ashland Inc.- The company offers polylactic-co-glycolic acid such as Viatel bioresorbable polymers.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

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.

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 market 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.

Market Analyst Overview

The market is witnessing substantial growth, driven by the increasing demand for the biocompatible polymer in various applications such as implants and targeted drug delivery systems. It offers significant benefits in personalized medicine and advanced therapies, facilitating reduced side effects and improved patient outcomes. Moreover, its sustainability and environmental stewardship make it an attractive choice for packaging and agriculture applications. Emerging market trends are further bolstering growth, supported by government initiatives and advancements in manufacturing processes like condensation polymerization. Key factors such as reaction conditions, molecular weight, and purification processes play crucial roles in formulating PLGA-based therapeutic agents and controlled drug delivery systems, including microspheres, across diverse application areas.

The market is experiencing robust growth, particularly in the global healthcare sector, driven by the increasing demand for biocompatible polymers. It offers significant advantages over traditional plastics, including adaptable mechanical characteristics and adjustable degradation rates, making it ideal for various medical applications such as implantable devices and regenerative medicine. The purification process ensures product performance by removing impurities and unreacted monomers, while formulation parameters dictate release profiles tailored to specific medical interventions. With advancements in processing steps and catalysts, the manufacturers are scaling up production to meet the demands of an aging population and evolving regulatory environment. This growth is further supported by the global expansion of healthcare infrastructure and continuous medical device innovation, emphasizing the importance of consistent quality standards across production infrastructure and distribution channels in delivering effective patient treatment.

Segment Overview

The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Application Outlook 
  • Personal care and dermatology
  • Suture
  • Fracture fixation
  • Others
• Type Outlook 
  • PLGA-50:50
  • PLGA-75:25
  • PLGA-85:15
  • PLGA-65:35
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Chile
    • Brazil
    • Argentina

 

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 million
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 market 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• Precise estimation of the size of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Market growth analysis across North America, Europe, APAC, South America, and Middle East and Africa
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Market forecasting of factors that will challenge the growth of market companies

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