PLGA Market by Composition, Application (Medical, Non-Medical Applications), Processibility (Extrusion, Injection Molding), End-Use Industry (Healthcare, Biotech Firms, Medical Institutions, Packaging, Textile, Agriculture) - Global Forecast to 2030

PLGA Market by Composition, Application (Medical, Non-Medical Applications), Processibility (Extrusion, Injection Molding), End-Use Industry (Healthcare, Biotech Firms, Medical Institutions, Packaging, Textile, Agriculture) - Global Forecast to 2030

The PLGA market is projected to reach USD 321 million by 2030, at a CAGR of 16.6% from USD 125 million in 2024. Government initiatives and regulations wield substantial influence over the trajectory of the PLGA market. Regulatory support for biodegradable polymers, notably PLGA, varies globally, impacting market dynamics in significant ways. For instance, countries like Germany and France have implemented stringent regulations favoring eco-friendly materials in packaging. This has propelled the adoption of PLGA in the packaging industry, aligning with environmental directives and creating a demand for sustainable alternatives. In the healthcare sector, the US Food and Drug Administration (FDA) emphasizes the importance of biocompatibility and biodegradability in medical devices. This aligns with the qualities inherent in PLGA, positioning it favorably for use in medical implants and drug delivery systems. The European Medicines Agency (EMA) also follows a similar path, promoting the use of biodegradable materials in pharmaceutical applications, bolstering the market for PLGA-based drug delivery solutions. Furthermore, countries like Japan, with a strong focus on technological innovation, have implemented supportive policies for research and development in biodegradable polymers. Such initiatives encourage companies to invest in advancing technologies related to PLGA, fostering innovation and market growth.

“Based on composition type, high glycolic acid grades segment is expected to be the fastest growing market during the forecast period, in terms of value.”

These grades are distinguished by their exceptional purity, consistency, and specialized properties, catering to a variety of industrial and commercial applications beyond the medical field. In non-medical sectors, high glycolic acid PLGA grades find utility in diverse applications. For instance, in the cosmetics and personal care industry, they serve as valuable components in skincare formulations, offering benefits such as enhanced exfoliation, moisturization, and improved skin texture. Moreover, in the realm of agriculture, these grades may contribute to the development of biodegradable mulching films and controlled-release systems for agricultural chemicals, fostering sustainable practices. Additionally, high glycolic acid PLGA grades can be utilized in environmental applications, such as biodegradable packaging materials and wastewater treatment technologies, due to their biocompatibility and eco-friendly nature.
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“Based on application, Drug delivery is the largest market during the forecast period, in terms of value.”

PLGA, a biodegradable and biocompatible polymer approved by regulatory authorities, serves as an ideal carrier for a diverse range of drugs, including small molecules, proteins, peptides, and nucleic acids. This technology enables pharmaceutical companies to enhance drug efficacy, improve patient compliance, and minimize side effects through targeted and sustained release formulations. The versatility of PLGA allows for customization of release kinetics, providing tailored therapeutic profiles suited to specific medical needs. Furthermore, PLGA-based drug delivery systems offer advantages such as prolonged circulation times, protection of drugs from degradation, and the ability to bypass biological barriers, thereby enhancing therapeutic outcomes.
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“Based on region, Asia Pacific is the fastest growing market for PLGA in 2023, in terms of value.”

The Asia-Pacific region, particularly countries like China, India, and Southeast Asian nations, has experienced significant economic growth in recent years. This economic expansion has led to increased industrialization, urbanization, and a rise in consumer spending. The region is home to diverse and rapidly expanding industries, including textiles, healthcare, packaging, and plastics.

In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:

By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%

By Designation: C-Level - 35%, Director Level - 25%, and Others - 40%

By Region: North America - 30%, Europe - 20%, Asia Pacific - 40%, Middle East & Africa-5%, and Latin America-5%

The key players in this market are Evonik (Germany), Corbion NV (Netherlands), Ashland (US), Mitsui Chemicals (Japan), Jinan Digang Bioengineering Co., Ltd. (China), Merck (Germany), Akina, Inc. (US), Nomisma Healthcare Pvt. Ltd. (India), Bezwada Biomedical, LLC (US), CD Bioparticles (US).

Research Coverage

This report segments the PLGA market based on composition, processibility, application, end-use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products and services, key strategies, new product launches, expansions, and mergers and acquisitions associated with the PLGA market.

Key benefits of buying this report

This research report focuses on various levels of analysis, including industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the PLGA market, high-growth regions, and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

Analysis of key drivers (Exceptional biodegradability and biocompatibility nature, Government initiatives and regulations), restraints (Complex manufacturing process, Limited mechanical strength), opportunities (Global expansion in healthcare industry) and challenges (Cost intensive process and scalability problem, Stiff competition from alternative material’s).

Market Penetration: Comprehensive information on the PLGA market offered by top players in the global PLGA market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the PLGA market.

Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for PLGA market across regions.

Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global PLGA market

Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the PLGA market