The global PLGA market size was significantly large in 2020, and is expected to continue to register a rapidly inclining revenue CAGR between 2021 and 2028. Key factors responsible for driving market revenue growth are expansion of personal care dermatology sectors and industrial applications of PLGA across the globe.
Poly (lactic-co-glycolic acid), also known as PLGA, PLG, or poly (lactic-co-glycolic acid), is a biocompatible and biodegradable copolymer that is utilized in a wide variety of Food and Drug Administration (FDA)-approved medicinal devices. The cyclic dimers (1,4-dioxane-2,5-diones) of glycolic acid and lactic acid are co-polymerized to form PLGA by ring-opening co-polymerization. Polymers can be made as random or block copolymers, which gives these additional polymer properties. Tin(II) 2-ethylhexanoate, tin(II) alkoxides, and aluminum isopropoxide are some of the most common catalysts utilized in the production of this polymer. During polymerization, consecutive monomeric units (of glycolic or lactic acid) in PLGA are bonded together by ester bonds, thereby resulting in a linear, aliphatic polyester. PLGA is also utilized extensively in a wide range of medical applications.
Top Companies Operating in the Global PLGA Market:
- Evonik
- PCAS
- Corbion
- Mitsui Chemicals
- SDSYXS
- Jinan Daigang Biomaterial
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Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of "in silico" simulations. Companies' existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
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The PLGA market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the PLGA market.
The global PLGA market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- PLGA 50:50
- PLGA 65:35
- PLGA 75:25
- PLGA 85:15
- Others
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Suture
- Fracture Fixation
- Oral Implant
- Personal Care and Dermatology
- Others
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