According to TechSci Research report, “Polyglycolic Acid Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2019-2029F”, the Global Polyglycolic Acid Market stood at USD 5.11 billion in 2023 and is anticipated to grow with a CAGR of 9.88% in the forecast period, 2025-2029. This can be attributed to consumer preference for sustainable products. Changing consumer preferences, especially among environmentally conscious demographics, are steering companies towards sustainable practices. Products made from PGA appeal to eco-conscious consumers who actively seek out environmentally friendly options, thereby influencing market growth.
Stringent environmental regulations and policies aimed at reducing the use of non-biodegradable materials have become a driving force behind the adoption of PGA. Governments worldwide are incentivizing the use of sustainable materials, providing a favorable regulatory environment for the growth of the PGA market.
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The worldwide economic landscape has seen consistent expansion, with emerging markets notably influencing this upward trend. As countries aim for progress and economic prosperity, there’s been a notable uptick in sectors such as construction, packaging, automotive, and healthcare, among others. This heightened activity results in a growing need for materials that are both effective and eco-conscious.
As developing economies progress and undergo industrialization, there’s a concurrent rise in the demand for cutting-edge materials such as polyglycolic acid. The expanding middle-class demographic, coupled with increasing disposable incomes, serves as additional catalysts driving market expansion.
The Global Polyglycolic Acid Market is segmented into form, end-use, regional distribution, and company.
Based on its form, fibre is poised to assert its dominance as the preferred form in the global Polyglycolic Acid (PGA) market for several compelling reasons. Polyglycolic acid (PGA) fibre finds widespread application in the medical sector, especially in the realm of surgical sutures. Its ability to degrade naturally and its harmonious compatibility with the human body render it an exceptional option for suturing, enabling seamless wound closure without necessitating subsequent removal. The escalating preference for minimally invasive surgical techniques is fueling a surge in demand for PGA fiber in various medical procedures. This trend underscores PGA fiber’s pivotal role in facilitating advanced surgical practices, where precision and patient comfort are paramount. As healthcare systems globally strive for enhanced efficacy and patient outcomes, the reliability and versatility of PGA fiber contribute significantly to meeting these evolving needs.
Based on region, North America is positioned to assert its dominance as the leading region in the global Polyglycolic Acid (PGA) market for several compelling reasons. Rising consumer consciousness and preferences for environmentally-friendly products are driving the surge in demand for PGA across North America. As consumers prioritize sustainability, there’s a notable shift towards biodegradable items that minimize carbon emissions, thereby accelerating the uptake of PGA-derived materials across diverse sectors.
Major companies operating in Global Polyglycolic Acid Market are:
- KUREHA CORPORATION
- Corbion NV
- BMG Inc
- Teleflex Incorporated
- Shenzhen Polymtek Biomaterial Co., Ltd.
- Merck KGaA
- Hitachi, Ltd.
- Orion Sutures (India) Private Limited
- DuPont de Nemours Inc
- BASF SE
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“The Global Polyglycolic Acid Market stands at the threshold of significant transformation, propelled by emerging trends poised to reshape its landscape. Spanning from the advent of sustainable packaging solutions to pioneering applications across healthcare and agriculture sectors, PGA’s inherent versatility positions it as a pivotal contributor to the realization of a more sustainable and environmentally conscientious future. With its diverse array of applications, PGA emerges as a cornerstone in the ongoing quest for sustainability across industries. Foreseeing the potential of PGA to address pressing environmental concerns, industry stakeholders are primed to embrace these evolving trends. Through strategic alignment with sustainability objectives and innovative utilization of PGA-based materials, stakeholders are poised to not only meet market demands but also drive the evolution and expansion of the PGA market on a global scale. This collaborative effort among industry players is instrumental in shaping the trajectory of the PGA market, fostering its continued growth and prominence in the broader context of sustainable solutions.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Polyglycolic Acid Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Form (Fibre, Film, Others), By End-Use (Medical, Oil & Gas, Packaging, Others), By Region, and By Competition, 2019-2029F”, has evaluated the future growth potential of Global Polyglycolic Acid Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Polyglycolic Acid Market.
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