Surging demand in the production of medical equipment and devices is one of the significant factors influencing the market growth.
Market Size – USD 4.05 Billion in 2019, Market Growth – CAGR of 9.3%, Market Trends – Surging demand from the packaging industry
The global Polyglycolic acid (PGA) market is expected to reach USD 8.29 Billion by 2027, according to a new report by Reports and Data. Polyglycolic acid (PGA) is a synthetic, inter-woven polymer and is very slightly reactive and better resistant to bacterial contamination. The chemical is considered to be biocompatible in several end-uses and of late finds usage as filler material blended with polymers that can be chemically degraded. Polyglycolic acid is usually deployed into several tissue engineering applications supports include bone, tooth, cartilage, tendon, and spinal regeneration. Sheets made from the acid in combination with fibrin glue spray is applied as healing of open wounds of soft tissues, along with bone surfaces in the course of oral surgery, by adhering to the wound and assisting in stop postoperative hemorrhage and stimulate epithelialization. Moreover, the chemical finds widespread application in pharmaceuticals, including polymers for a biodegradable bone graft, organ regeneration, absorbable sutures, and drug delivery vehicles.
The oil & gas industry relies on heavy-duty tools for drilling vertical, horizontal, and deviated wells. Operations pertaining to plug-and-perforation require hydraulic fracturing plugs and balls for zone isolation in different types of oil & gas wells. Dissolvable frac plugs (DFPs) depend on polyglycolic acid, owing to its ability to better endure high-temperature wells as compared to polylactic acid, which is found to undergo rapid degradation with a surge in temperature. Besides, PGA is used for producing biodegradable and very robust material and hence allows for the decomposition of finishing fluids of several types owing to its biodegradation, enabling it to function as delayed-release acid. Additionally, the property of DFPs made from PGA to remain unaffected by chemicals or salinity, allow them to degrade quickly as compared to DFPs produced from magnesium alloys.
Key participants include BMG Incorporated, Foryou Medical, Kureha Corporation, Teleflex Incorporated, Corbion, Advanced Medical Solutions Group PLC, Lotus Surgicals, Shenzhen Polymtek, Biomaterial Co. Ltd., LUX Sutures, and Unisur Lifecare Pvt. Ltd., among others.
Get a Free Sample now@ https://www.reportsanddata.com/sample-enquiry-form/3391
COVID-19 Impact
The COVID-19 pandemic is having a significant impact on the polyglycolic acid (PGA) industry. Demand for the product is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
For the purpose of this report, Reports and Data have segmented the global polyglycolic acid market on the basis of form, distribution channel, industry vertical, and region:
Form Outlook (Revenue, USD Million; 2017-2027)
Distribution Channel Outlook (Revenue, USD Million; 2017-2027)
Industry Vertical Outlook (Revenue, USD Million; 2017-2027)
Quick buy @ https://www.reportsanddata.com/checkout-form/3391
Regional Outlook (Revenue, USD Million; 2017-2027)
Further key findings from the report suggest:
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Polyglycolic Acid Segmentation & Impact Analysis
4.1. Polyglycolic Acid Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market driver’s analysis
4.2.2.1. Surging demand in the production of medical equipment and devices
Continue….
Thank you for reading our report. To know more about the customization of the report or further queries about the report, please get in touch with us. Our team will ensure the report is well suited to your requirements.
Browse Related Reports:-
Isononanoic Acid Market Size, Share & Analysis, By Grade, By Sales Channel, By Applications, Forecasts To 2027
Geranyl Acetone Market Size, Share & Analysis, By Type of Fragrance, By Grade, By Sales Channel, By Applications and Forecasts To 2027
Media ContactCompany Name: Reports and DataContact Person: John WatsonEmail: Send EmailPhone: +1-212-710-1370Address:40 Wall St. 28th floor City: New York CityState: NY 10005Country: United StatesWebsite: https://www.reportsanddata.com/report-detail/polyglycolic-acid-market