Poly Lactic Co Glycolic Acid (PLGA) Market Analysis North America, Europe, APAC, South America, Middle East and Africa - US, UK, China, Germany, France - Size and Forecast 2024-2028

Poly Lactic-Co-Glycolic Acid Market Size 2024-2028

The Poly Lactic Co Glycolic Acid (PLGA) market size is forecast to increase by USD 137.5 million at a CAGR of 9.46% between 2023 and 2028. 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 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 Segmentation

The poly lactic co glycolic acid (PLGA) market 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.

• 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

By Application

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 73.60 million in 2018. PLGA, being non-toxic and polymeric  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  poly lactic co glycolic acid (PLGA) market during the forecast period.

By Region

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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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.

Market Dynamics and Customer Landscape

The market is pivotal in biotech, driving innovation in medication delivery systems and medicinal devices. PLGA, known for its biodegradability and versatility, is extensively used in microparticles, PLGA-based microspheres, and PLGA-based nanoparticles for precise medication dosing and controlled release in healthcare. Economic and political changes influence healthcare expenditures and development prospects, impacting market dynamics and service penetration. Advancements in AI-controlled investigation and database management enhance research efficiency, facilitating the development of biodegradable and bioresorbable materials such as PLGA for applications like surgical sutures. As exchange rates fluctuate, the PLGA market adapts to global economic shifts, with innovations highlighted in news pieces, driving growth in both established and emerging healthcare markets. Controlled-release pesticides are increasingly utilized in agriculture, while dermatology application benefit from specialized formulations. 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.

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 ,nanofibre 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.

Market 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

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 poly lactic 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 biotech sector continues to advance with significant emphasis on performance and therapeutic results amid ongoing economic changes. Innovations in biodegradable materials are transforming industries, from skincare products like glycolic acid to sustainable packaging materials, fostering a circular economy. Biotech is instrumental in encapsulating active chemicals for applications in controlled drug release, offering customizable features and enhanced mechanical strength in products. The field is pivotal in regenerative medicine and the development of controlled-release fertilizers and pesticides, leveraging nanotechnology to mitigate environmental consequences. Across sectors such as agriculture, food packaging, electronics, and dermatology applications, biotech plays a crucial role in driving revenue growth and promoting sustainable practices through innovative solutions.

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What are the Key Data Covered in this Market Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2024 and 2028
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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