PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1628096
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1628096
Polyglycolic Acid Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 to 2034
The Global Polyglycolic Acid Market was valued at USD 9.1 billion in 2024 and is anticipated to grow at a CAGR of 4.5% from 2025 to 2034. This growth is largely driven by PGA's increasing adoption across various sectors, particularly in healthcare, due to its exceptional properties, such as biodegradability, biocompatibility, and versatility. These qualities make it a preferred material for numerous medical applications, including advanced surgical and therapeutic solutions.
PGA's controlled degradation rate enhances its usability in intricate procedures, ensuring it supports healing processes without the need for removal. Its applications extend beyond traditional uses, as it plays an integral role in bioresorbable implants and drug delivery systems. These innovations improve patient outcomes by reducing post-surgical interventions and enabling more effective treatments. The rising demand in medical fields underscores PGA's critical role in advancing modern healthcare solutions.
By product form, the market is divided into fiber, film, and other segments, with fibers leading the market and generating USD 8.6 billion in revenue in 2024. PGA fibers are particularly valued for their strength and predictable degradation, making them ideal for diverse uses in healthcare and industrial applications. Their ability to support sustainable advancements has positioned fibers as the most significant segment within the PGA market.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $9.1 Billion |
| Forecast Value | $14.3 Billion |
| CAGR | 4.5% |
When segmented by application, the medical sector dominates the market, accounting for 90.4% of the total share. PGA's unique characteristics, including controlled breakdown and minimal inflammatory response, make it indispensable in a range of healthcare applications. Its adaptability allows for innovative uses, promoting advancements in surgical procedures and medical device development.
Regionally, the U.S. polyglycolic acid market, valued at USD 5.6 billion in 2024, is bolstered by strong demand from the healthcare and industrial sectors. The region's advanced R&D infrastructure and focus on innovation drive the adoption of sustainable materials like PGA. In North America overall, the market benefits from increasing investments in eco-friendly solutions, regulatory support, and heightened awareness of sustainable practices.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021-2034
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.2 Supplier landscape
- 3.3 Profit margin analysis
- 3.4 Key news & initiatives
- 3.5 Regulatory landscape
- 3.6 Impact forces
- 3.6.1 Growth drivers
- 3.6.1.1 Growing demand in medical applications
- 3.6.1.2 Increased use in biodegradable plastics
- 3.6.1.3 Expanding applications in oil and gas industries
- 3.6.2 Industry pitfalls & challenges
- 3.6.2.1 High production costs limit accessibility
- 3.6.2.2 Complex manufacturing and processing requirements
- 3.6.1 Growth drivers
- 3.7 Growth potential analysis
- 3.8 Porter's analysis
- 3.9 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Size and Forecast, By Form, 2021-2034 (USD Billion) (Kilo Tons)
- 5.1 Key trends
- 5.2 Fiber
- 5.3 Film
- 5.4 Others (plate, rod)
Chapter 6 Market Size and Forecast, By Application, 2021-2034 (USD Billion) (Kilo Tons)
- 6.1 Key trends
- 6.2 Medical
- 6.3 Packaging
- 6.4 Shale gas extraction
- 6.5 Others (civil engineering, filter)
Chapter 7 Market Size and Forecast, By Region, 2021-2034 (USD Billion) (Kilo Tons)
- 7.1 Key trends
- 7.2 North America
- 7.2.1 U.S.
- 7.2.2 Canada
- 7.3 Europe
- 7.3.1 UK
- 7.3.2 Germany
- 7.3.3 France
- 7.3.4 Italy
- 7.3.5 Spain
- 7.3.6 Russia
- 7.4 Asia Pacific
- 7.4.1 China
- 7.4.2 India
- 7.4.3 Japan
- 7.4.4 South Korea
- 7.4.5 Australia
- 7.5 Latin America
- 7.5.1 Brazil
- 7.5.2 Mexico
- 7.6 MEA
- 7.6.1 South Africa
- 7.6.2 Saudi Arabia
- 7.6.3 UAE
Chapter 8 Company Profiles
- 8.1 BMG Incorporated
- 8.2 Corbion
- 8.3 DuPont
- 8.4 Ethicon
- 8.5 Evonik
- 8.6 Huizhou Foryou Medical Devices
- 8.7 Kureha
- 8.8 Shenzhen Polymtek Biomaterial
- 8.9 Teleflex
