PLGA Market by Composition, Application, End-User Industry

List of Tables

[182 Pages Report] The PLGA Market size was estimated at USD 179.53 million in 2023 and expected to reach USD 197.81 million in 2024, at a CAGR 10.35% to reach USD 357.89 million by 2030.

PLGA, standing for Poly(lactic-co-glycolic acid), is a biodegradable and biocompatible polymer widely utilized in the medical field. This synthetic copolymer is made by combining two different monomers, lactic acid and glycolic acid, which allows it to break down naturally within the body. Due to its versatile properties, PLGA is commonly used for various applications, including drug delivery systems, surgical sutures, and tissue engineering. Continuous research and development in the biomedical sector have significantly contributed to the expanding applications of PLGA. Its ability to safely degrade and be metabolized by the body makes it an ideal candidate for creating new drug delivery systems and biodegradable implants. The growing need for targeted and controlled drug delivery systems that can improve the effectiveness of treatments and minimize side effects is driving the growth of the market. The high cost associated with producing PLGA-based products hampers the growth of the market. However, continuous research & development activities to expand the application of PLGA are expected to create opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 179.53 million
Estimated Year [2024]	USD 197.81 million
Forecast Year [2030]	USD 357.89 million
CAGR (%)	10.35%

Composition: Rising usage of PLGA with Lactic Acid: Glycolic Acid Ratio of 50:50 ratio as it offers a balanced profile of degradation speed

PLGA with Lactic Acid: Glycolic Acid Ratio of 12:88 is characterized by a significantly higher content of glycolic acid. The higher proportion of glycolic acid makes this variant of PLGA degrade faster compared to others with more lactic acid. This is beneficial in applications where a rapid release of encapsulated drugs or faster biodegradation is desired. PLGA with Lactic Acid: Glycolic Acid Ratio of 50:50 ratio represents an equal proportion of lactic and glycolic acids, offering a balanced profile of degradation speed and mechanical properties. This makes it a versatile choice, suitable for a wide range of applications, including controlled drug delivery where a moderate release rate is necessary. With a higher percentage of lactic acid, PLGA with Lactic Acid: Glycolic Acid Ratio of 75:25) degrades more slowly than its counterparts with more glycolic acid. The increased lactic acid content also tends to make this polymer more hydrophobic, slowing water uptake and thus slowing the degradation process. This is advantageous for applications requiring longer-term support or drug release. PLGA with Lactic Acid: Glycolic Acid Ratio of 85:15 is heavily weighted towards lactic acid, making it the slowest to degrade among the ratios mentioned. Its slow degradation rate and relative hydrophobicity make it ideal for applications necessitating extended support, such as in some implantable devices or long-term drug delivery systems.

End-User Industry: High potential of PLGA in research institutes for developing new biomedical devices

In the biotechnology sector, PLGA is predominantly used for drug delivery systems and tissue engineering. Its ability to safely biodegrade into natural metabolic products (lactic acid and glycolic acid) makes it a preferred material for the controlled release of therapeutics, thus enhancing patient compliance and treatment efficacy. The packaging industry utilizes PLGA for its eco-friendly credentials. Given the increasing awareness and legislative pressures about reducing plastic waste, PLGA offers a sustainable alternative for packaging goods, including perishables. Its biodegradability means it can break down under natural conditions, alleviating the environmental impact compared to traditional plastics. In pharmaceuticals, PLGA plays a critical role in the formulation of nanoparticles and microparticles for drug delivery systems. Its properties allow for the encapsulation of a wide range of drugs, providing controlled release over time. This is particularly beneficial for medications that require a consistent blood concentration level or targeted delivery within the body. Academic & private research institutes employ PLGA in various studies, including medical research, materials science, and environmental science. Its versatility and biocompatibility make it a subject of interest for developing new biomedical devices, drug delivery strategies, and sustainable materials. The application of PLGA in the textile industry is relatively less conventional but growing. It is being explored for medical textiles, such as sutures and meshes for surgical purposes. Other potential uses being researched include biodegradable fabrics to reduce the environmental footprint of the textile industry.

Regional Insights

In the Americas, the PLGA market is experiencing robust growth driven by progressive healthcare policies, significant investment in biomedical research, and a strong presence of pharmaceutical companies. The region's sophisticated healthcare infrastructure and the increasing demand for biodegradable materials in drug delivery systems contribute to the positive outlook for the PLGA market. Moreover, the rising prevalence of chronic diseases and the growing aging population in the Americas necessitate sustained drug delivery solutions, presenting opportunities for PLGA adoption. The Asia-Pacific region is witnessing rapid growth in the PLGA market, attributed to its expanding pharmaceutical sector and increasing investments in healthcare infrastructure. Countries including, China and India are at the forefront, leveraging their manufacturing prowess and favorable government policies to foster market growth. Additionally, the region's increasing population and rising healthcare awareness are propelling the demand for sophisticated drug delivery systems, making APAC a promising market for PLGA. The EMEA region presents a diverse market landscape for PLGA. Europe, with its advanced healthcare systems and stringent regulatory standards for biodegradable materials, remains a potential market for PLGA, particularly in controlled drug delivery applications. The growing focus on sustainability and environmental concerns in European countries further accentuates the demand for biodegradable polymers including, PLGA. In contrast, the Middle East and Africa are emerging markets with a growing potential, primarily driven by increasing healthcare expenditures and evolving pharmaceutical sectors.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the PLGA Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the PLGA Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the PLGA Market, highlighting leading vendors and their innovative profiles. These include Akina, Inc., Ashland Inc., Bezwada Biomedical, LLC, Biosynth Ltd., CD Bioparticles, Corbion NV, Evonik Industries AG, Fluigent S.A., Foster Corporation, Merck KgaA, Mitsui Chemicals, Inc., Nanosoft Polymers, NANOVEX BIOTECHNOLOGIES, S.L., Nomisma Healthcare Pvt. Ltd., Polylactide, Inc., Polysciences, Inc., Seqens Group, SPECIFIC POLYMERS, and Zeus Co. Inc..

Market Segmentation & Coverage

This research report categorizes the PLGA Market to forecast the revenues and analyze trends in each of the following sub-markets:

Composition
- PLGA with Lactic Acid: Glycolic Acid Ratio of 12:88
- PLGA with Lactic Acid: Glycolic Acid Ratio of 50:50
- PLGA with Lactic Acid: Glycolic Acid Ratio of 75:25
- PLGA with Lactic Acid: Glycolic Acid Ratio of 85:15

Application
- Drug Delivery Systems
- Medical Devices Coatings
- Microspheres & Nanoparticles
- Orthopedic Implants
- Sutures & Surgical Staples
- Tissue Engineering

End-User Industry
- Biotechnology
- Packaging
- Pharmaceuticals
- Research Institutes
- Textile

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the PLGA Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the PLGA Market?

3. What are the technology trends and regulatory frameworks in the PLGA Market?

4. What is the market share of the leading vendors in the PLGA Market?

5. Which modes and strategic moves are suitable for entering the PLGA Market?

Product Code: MRR-7A22CB0E5B8A

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing need for targeted and controlled drug delivery systems
  - 5.1.1.2. Continuous research and development in the biomedical sector
- 5.1.2. Restraints
  - 5.1.2.1. High cost of production of PLGA
- 5.1.3. Opportunities
  - 5.1.3.1. Rising research and development activities to expand the application of PLGA
  - 5.1.3.2. Growing approval activities for PLGA by regulatory authorities
- 5.1.4. Challenges
  - 5.1.4.1. Complexity in handling PLGA
5.2. Market Segmentation Analysis
- 5.2.1. Composition: Rising usage of PLGA with Lactic Acid: Glycolic Acid Ratio of 50:50 ratio as it offers a balanced profile of degradation speed
- 5.2.2. End-User Industry: High potential of PLGA in research institutes for developing new biomedical devices
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. PLGA Market, by Composition

6.1. Introduction
6.2. PLGA with Lactic Acid: Glycolic Acid Ratio of 12:88
6.3. PLGA with Lactic Acid: Glycolic Acid Ratio of 50:50
6.4. PLGA with Lactic Acid: Glycolic Acid Ratio of 75:25
6.5. PLGA with Lactic Acid: Glycolic Acid Ratio of 85:15

7. PLGA Market, by Application

7.1. Introduction
7.2. Drug Delivery Systems
7.3. Medical Devices Coatings
7.4. Microspheres & Nanoparticles
7.5. Orthopedic Implants
7.6. Sutures & Surgical Staples
7.7. Tissue Engineering

8. PLGA Market, by End-User Industry

8.1. Introduction
8.2. Biotechnology
8.3. Packaging
8.4. Pharmaceuticals
8.5. Research Institutes
8.6. Textile

9. Americas PLGA Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific PLGA Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa PLGA Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Innovative PLGA Nanoparticles Harness ATP for Enhanced Tumor Immunotherapy
- 12.3.2. Persist AI's Breakthrough in Speeding Sustained Release Medications
- 12.3.3. Avantium and SCG Chemicals Forge Alliance to Pioneer CO2-Based Polymers
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio