PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1351459
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1351459
Polyglycerol Sebacate (PGS) Market size was valued at USD 69.8 million in 2022, expanding at a CAGR of 9.8% from 2023 to 2030.
PGS is a simple glycerol-ester polymer derived from the basic mammalian metabolites glycerol and sebacic acid, both of which are FDA-approved. Originally conceived as a biodegradable polymer with better elastic mechanical properties and biocompatibility, research on PGS-based medical applications has revealed a number of unique qualities that have increased its utility as a biomaterial. PGS has sparked considerable attention, particularly in the biomedical field, due to its unusual mix of elasticity, biocompatibility, and biodegradability. It is an appealing material for building scaffolds in tissue engineering due to its mechanical characteristics and biodegradability. These scaffolds can act as a template for the development of new tissue. PGS has the advantage of being able to modify its mechanical properties by making little changes to the polymerization and curing methods.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the growth of the Polyglycerol Sebacate (PGS) Market, due to an increase in lifestyle diseases such as obesity and others. Lifestyle diseases frequently necessitate medical interventions, such as surgical operations, medical equipment, or implants. Obesity, for example, can exacerbate concerns like joint wear, leading to osteoarthritis. Centers for Disease Control and Prevention estimated annual medical cost of obesity in the United States was nearly USD billion in 2019 dollars. Medical costs for adults who were obesity were USD1,861 higher than medical costs for people with healthy weight. This increases demand for tissue engineering solutions, in which PGS can play a crucial role due to its aptitude as a scaffold material. North America has a sophisticated healthcare system with cutting-edge medical technologies, which creates an ideal environment for novel materials like PGS. Europe is expected to drive the growth of the market due to the Growing demand for biomedical textiles to improve the healing process in the medical industry.
The manufacturing of PGS for biomedical purposes is a niche market. A thorough competition study necessitates extensive market research to identify all of the participants. Still, as of my latest update in 2021, the competition was primarily from specialized biomedical materials firms. Some of the primary techniques used by corporations to strengthen their reach and expand their market share include new product launches, distribution network development, R&D spending, and mergers and acquisitions. For Instance, Nov.2022., Telford, PA-Solesis, parent company of Secant Group, announced currently that it has acquired Polyzen, LLC, a leading developer and manufacturer of polymer-based film and coating technologies for the medical device and biopharmaceutical industries. The addition of Polyzen will expand Solesis' design and manufacturing capabilities in advanced biomaterials and broaden the service offering it delivers to its customers.
November 02, 2022, Polyzen, LLC, announced nowadays that it has been acquired by Solesis, an advanced biomaterials company that develops, manufactures, and sells critical components and technologies for customers in the medical device, biopharmaceutical, and life sciences industries. Solesis is headquartered in Telford, PA, with manufacturing facilities in Pennsylvania and North Carolina.
The scope of this report covers the market by its major segments, which include as follows: