Poly (Lactic-Co-Glycolic Acid) (PLGA) Market - Global Poly (Lactic-Co-Glycolic Acid) (PLGA) Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Composition Coverage, By Application Coverage, By Geographic Coverag

Poly (Lactic-Co-Glycolic Acid) (PLGA) Market - Global Poly (Lactic-Co-Glycolic Acid) (PLGA) Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030 - (By Composition Coverage, By Application Coverage, By Geographic Coverage and Leading Companies)


Global Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Set to Surge with a Remarkable 13% CAGR by 2030, Projected to Reach US$2 Billion

In a recent market analysis, the global poly (lactic-co-glycolic acid) (PLGA) market is expected to experience substantial growth, with a projected Compound Annual Growth Rate (CAGR) of 13% during the assessment period from 2023 to 2030. By the end of 2030, the market's total value is anticipated to approach a significant milestone of US$2 billion.

Driving Factors:

The burgeoning interest in biodegradable and bioresorbable materials within the medical and pharmaceutical industries is a primary driver of this market's expansion. PLGA, being a biocompatible polymer capable of breaking down harmlessly within the body, is widely used in applications such as tissue engineering, surgical sutures, and drug delivery systems. Additionally, the development of PLGA-based microspheres and nanoparticles has facilitated precise and controlled drug release, leading to enhanced therapeutic outcomes.

The versatility of PLGA, including its customizable degradation rate and mechanical strength, has allowed it to adapt to various applications. PLGA's demand has also surged in the cosmetics and personal care sectors, where it is utilized for encapsulating active ingredients, gradually releasing vitamins, antioxidants, and other beneficial substances.

Key Report Findings

• The PLGA market is expected to witness over three-fold revenue growth between 2023 and 2030.

• Fracture fixation, driven by the biocompatibility and biodegradability of PLGA sutures, was a key segment in 2022.

• PLGA 50:50, with a market share exceeding 42.6% in 2022, is the preferred composition.

• North America dominated the market in 2022, holding a share of approximately 35.9%.

Growth Drivers

1. Biomedical Advancements and Demand for Drug Delivery Systems: PLGA's biodegradable and biocompatible nature has made it indispensable in drug encapsulation and controlled release applications. The pursuit of personalized medicine has driven the use of PLGA-based microspheres and nanoparticles for precise dosing and extended release of pharmaceutical compounds.

2. Eco-friendly and Sustainable Material Solutions: As environmental concerns grow, the biodegradability and biocompatibility of PLGA have garnered significant attention, particularly in fields like agriculture and packaging. PLGA-based materials are being explored as alternatives to conventional plastics in packaging, aligning with the principles of the circular economy. In agriculture, PLGA-based formulations are seen as eco-friendly solutions for controlled-release fertilizers and pesticides.

3. Expansion of Nanotechnology: The development of PLGA nanoparticles with precise sizes for targeted drug delivery and imaging applications has opened up new possibilities in medical treatments. Beyond the medical and cosmetic sectors, PLGA finds applications in agriculture, food packaging, and electronics due to its eco-friendly and sustainable properties.

Key Segments:

• Growing Application in Medical Industry: Fracture fixation, especially in the form of PLGA sutures, is a significant application due to its biocompatibility and biodegradability, reducing the need for suture removal and lowering infection risk.

• Cosmetics and Dermatology: PLGA's use in encapsulating active ingredients for skincare products is growing rapidly, enhancing the effectiveness of skincare formulas.

• PLGA 50:50: This balanced composition, with equal parts of polyglycolic acid (PGA) and polylactic acid (PLA), is the dominant category due to its versatility, suitable for applications ranging from tissue engineering to drug delivery.

• PLGA 75:25: This composition, with a higher PLA-to-PGA ratio, is preferred for applications requiring sustained drug release over extended periods, particularly in pharmaceuticals and medical sectors.

Regional Growth Opportunities:

• North America: With a robust pharmaceutical and biotechnology industry, North America is the largest market for PLGA. It prioritizes research and development, leading to the adoption of PLGA-based technologies in personalized medicine, targeted therapeutics, and less invasive procedures.

• Asia Pacific: This region is experiencing the fastest growth in the PLGA market, driven by a booming healthcare and pharmaceutical sector, increased investments in healthcare infrastructure, and a growing population. Contract manufacturing and research organizations (CMOs and CROs) in Asia Pacific are increasingly turning to PLGA for its adaptability and suitability in healthcare applications.

Challenges:

The complexity of formulating and manufacturing PLGA-based products is a significant challenge, as precise control over properties like molecular weight, lactic acid to glycolic acid ratio, and degradation rate is essential for consistent product performance and quality.

Competitive Landscape

Leading players in the poly (lactic-co-glycolic acid) (PLGA) market include Evonik Industries, Polysciences, Inc., DSM, Mitsui Chemicals, Ashland Inc., Creative PEGWorks, Corbion, and Poly-Med Incorporated.

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1. Executive Summary
1.1. Global Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2022
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. Global Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, 2018 - 2030
3.1. Global Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
3.1.1. Key Highlights
3.1.1.1. PLGA 50:50
3.1.1.2. PLGA 55:45
3.1.1.3. PLGA 65:35
3.1.1.4. PLGA 75:25
3.1.1.5. PLGA 85:15
3.2. Global Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
3.2.1. Key Highlights
3.2.1.1. Medical Implants
3.2.1.2. Drug Delivery
3.2.1.3. Fracture Fixation
3.2.1.4. Dentistry
3.2.1.5. Cosmetics and Dermatology
3.2.1.6. Misc.
3.3. Global Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Region, Value (US$ Mn), 2018 - 2030
3.3.1. Key Highlights
3.3.1.1. North America
3.3.1.2. Europe
3.3.1.3. Asia Pacific
3.3.1.4. Latin America
3.3.1.5. Middle East & Africa
4. North America Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, 2018 - 2030
4.1. North America Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
4.1.1. Key Highlights
4.1.1.1. PLGA 50:50
4.1.1.2. PLGA 55:45
4.1.1.3. PLGA 65:35
4.1.1.4. PLGA 75:25
4.1.1.5. PLGA 85:15
4.2. North America Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
4.2.1. Key Highlights
4.2.1.1. Medical Implants
4.2.1.2. Drug Delivery
4.2.1.3. Fracture Fixation
4.2.1.4. Dentistry
4.2.1.5. Cosmetics and Dermatology
4.2.1.6. Misc.
4.2.2. Market Attractiveness Analysis
4.3. North America Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
4.3.1. Key Highlights
4.3.1.1. U.S. Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
4.3.1.2. U.S. Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
4.3.1.3. Canada Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
4.3.1.4. Canada Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
4.3.2. BPS Analysis/Market Attractiveness Analysis
5. Europe Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, 2018 - 2030
5.1. Europe Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
5.1.1. Key Highlights
5.1.1.1. PLGA 50:50
5.1.1.2. PLGA 55:45
5.1.1.3. PLGA 65:35
5.1.1.4. PLGA 75:25
5.1.1.5. PLGA 85:15
5.2. Europe Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
5.2.1. Key Highlights
5.2.1.1. Medical Implants
5.2.1.2. Drug Delivery
5.2.1.3. Fracture Fixation
5.2.1.4. Dentistry
5.2.1.5. Cosmetics and Dermatology
5.2.1.6. Misc.
5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Europe Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
5.3.1. Key Highlights
5.3.1.1. Germany Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
5.3.1.2. Germany Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
5.3.1.3. U.K. Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
5.3.1.4. U.K. Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
5.3.1.5. France Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
5.3.1.6. France Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
5.3.1.7. Italy Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
5.3.1.8. Italy Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
5.3.1.9. Russia Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
5.3.1.10. Russia Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
5.3.1.11. Rest of Europe Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
5.3.1.12. Rest of Europe Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
5.3.2. BPS Analysis/Market Attractiveness Analysis
6. Asia Pacific Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, 2018 - 2030
6.1. Asia Pacific Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
6.1.1. Key Highlights
6.1.1.1. PLGA 50:50
6.1.1.2. PLGA 55:45
6.1.1.3. PLGA 65:35
6.1.1.4. PLGA 75:25
6.1.1.5. PLGA 85:15
6.2. Asia Pacific Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
6.2.1. Key Highlights
6.2.1.1. Medical Implants
6.2.1.2. Drug Delivery
6.2.1.3. Fracture Fixation
6.2.1.4. Dentistry
6.2.1.5. Cosmetics and Dermatology
6.2.1.6. Misc.
6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. Asia Pacific Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
6.3.1. Key Highlights
6.3.1.1. China Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
6.3.1.2. China Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
6.3.1.3. Japan Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
6.3.1.4. Japan Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
6.3.1.5. South Korea Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
6.3.1.6. South Korea Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
6.3.1.7. India Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
6.3.1.8. India Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
6.3.1.9. Southeast Asia Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
6.3.1.10. Southeast Asia Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
6.3.1.11. Rest of Asia Pacific Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
6.3.1.12. Rest of Asia Pacific Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
6.3.2. BPS Analysis/Market Attractiveness Analysis
7. Latin America Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, 2018 - 2030
7.1. Latin America Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
7.1.1. Key Highlights
7.1.1.1. PLGA 50:50
7.1.1.2. PLGA 55:45
7.1.1.3. PLGA 65:35
7.1.1.4. PLGA 75:25
7.1.1.5. PLGA 85:15
7.2. Latin America Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
7.2.1. Key Highlights
7.2.1.1. Medical Implants
7.2.1.2. Drug Delivery
7.2.1.3. Fracture Fixation
7.2.1.4. Dentistry
7.2.1.5. Cosmetics and Dermatology
7.2.1.6. Misc.
7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Latin America Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
7.3.1. Key Highlights
7.3.1.1. Brazil Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
7.3.1.2. Brazil Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
7.3.1.3. Mexico Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
7.3.1.4. Mexico Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
7.3.1.5. Rest of Latin America Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
7.3.1.6. Rest of Latin America Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
7.3.2. BPS Analysis/Market Attractiveness Analysis
8. Middle East & Africa Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, 2018 - 2030
8.1. Middle East & Africa Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
8.1.1. Key Highlights
8.1.1.1. PLGA 50:50
8.1.1.2. PLGA 55:45
8.1.1.3. PLGA 65:35
8.1.1.4. PLGA 75:25
8.1.1.5. PLGA 85:15
8.2. Middle East & Africa Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Composition, Value (US$ Mn), 2018 - 2030
8.2.1. Key Highlights
8.2.1.1. Medical Implants
8.2.1.2. Drug Delivery
8.2.1.3. Fracture Fixation
8.2.1.4. Dentistry
8.2.1.5. Cosmetics and Dermatology
8.2.1.6. Misc.
8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Middle East & Africa Poly (Lactic-Co-Glycolic Acid) (PLGA) Market Outlook, by Country, Value (US$ Mn), 2018 - 2030
8.3.1. Key Highlights
8.3.1.1. GCC Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
8.3.1.2. GCC Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
8.3.1.3. South Africa Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
8.3.1.4. South Africa Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
8.3.1.5. Rest of Middle East & Africa Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Composition, Value (US$ Mn), 2018 - 2030
8.3.1.6. Rest of Middle East & Africa Poly (Lactic-Co-Glycolic Acid) (PLGA) Market, by Application, Value (US$ Mn), 2018 - 2030
8.3.2. BPS Analysis/Market Attractiveness Analysis
9. Competitive Landscape
9.1. Composition vs Application Heatmap
9.2. Manufacturer vs Composition Heatmap
9.3. Company Market Share Analysis, 2022
9.4. Competitive Dashboard
9.5. Company Profiles
9.5.1. Evonik Industries
9.5.1.1. Company Overview
9.5.1.2. Product Portfolio
9.5.1.3. Financial Overview
9.5.1.4. Business Strategies and Development
9.5.2. Polysciences, Inc.
9.5.2.1. Company Overview
9.5.2.2. Product Portfolio
9.5.2.3. Financial Overview
9.5.2.4. Business Strategies and Development
9.5.3. Ashland Inc.
9.5.3.1. Company Overview
9.5.3.2. Product Portfolio
9.5.3.3. Financial Overview
9.5.3.4. Business Strategies and Development
9.5.4. DSM
9.5.4.1. Company Overview
9.5.4.2. Product Portfolio
9.5.4.3. Financial Overview
9.5.4.4. Business Strategies and Development
9.5.5. Mitsui Chemicals
9.5.5.1. Company Overview
9.5.5.2. Product Portfolio
9.5.5.3. Financial Overview
9.5.5.4. Business Strategies and Development
9.5.6. Corbion NV
9.5.6.1. Company Overview
9.5.6.2. Product Portfolio
9.5.6.3. Financial Overview
9.5.6.4. Business Strategies and Development
9.5.7. Creative PEGWorks
9.5.7.1. Company Overview
9.5.7.2. Product Portfolio
9.5.7.3. Financial Overview
9.5.7.4. Business Strategies and Development
9.5.8. Foster Corp.
9.5.8.1. Company Overview
9.5.8.2. Product Portfolio
9.5.8.3. Financial Overview
9.5.8.4. Business Strategies and Development
9.5.9. Haihang Industry
9.5.9.1. Company Overview
9.5.9.2. Product Portfolio
9.5.9.3. Financial Overview
9.5.9.4. Business Strategies and Development
9.5.10. Koninklijke DSM NV
9.5.10.1. Company Overview
9.5.10.2. Product Portfolio
9.5.10.3. Financial Overview
9.5.10.4. Business Strategies and Development
9.5.11. Nomisma Healthcare Pvt. Ltd.
9.5.11.1. Company Overview
9.5.11.2. Product Portfolio
9.5.11.3. Financial Overview
9.5.11.4. Business Strategies and Development
9.5.12. Poly-Med Incorporated
9.5.12.1. Company Overview
9.5.12.2. Product Portfolio
9.5.12.3. Financial Overview
9.5.12.4. Business Strategies and Development
9.5.13. Nanosoft Polymers
9.5.13.1. Company Overview
9.5.13.2. Product Portfolio
9.5.13.3. Financial Overview
9.5.13.4. Business Strategies and Development
9.5.14. Specific Polymers
9.5.14.1. Company Overview
9.5.14.2. Product Portfolio
9.5.14.3. Financial Overview
9.5.14.4. Business Strategies and Development
9.5.15. BMG Inc.
9.5.15.1. Company Overview
9.5.15.2. Product Portfolio
9.5.15.3. Financial Overview
9.5.15.4. Business Strategies and Development
10. Appendix
10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations

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