Polyglycolic Acid (PGA) Market research report serves as one of the best medium to help startups in business planning. It brings all the relevant data, which provides insights into consumers’ buying nature, location and thinking pattern. Keeping an eye on which actions are followed by the competitors and their future business plans for the estimation period 2022-2028 is easy by referring this report. Monitoring present and upcoming market trends is possible with this Polyglycolic Acid (PGA) Market report. High-quality and effective market research report has the potent to minimize business risks which can create problems in making marketing related decision.
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Key Players
Key players mentioned in the report are as follows -
Kureha Corporation
Corbion
Shenzhen Polymtek Biomaterial Co, Ltd.
BMG Incorporated
Huizhou Foryou Medical Devices Co., Ltd.
Teleflex Incorporated.
Growth drivers and Market Value:
This report, from Stratview Research, studies the Polyglycolic Acid (PGA) Market value and growth drivers over the trend period of 2022-27. According to the report -
Polyglycolic Acid market is likely to witness an impressive CAGR of 9.5% during the forecast period. The growing demand for polyglycolic acid in medical industry, especially as a raw material for manufacturing surgical sutures, hernia meshes, drug delivery devices, grafts, and scaffolds for tissue regeneration, is likely to drive the demand for polyglycolic acid during the forecast period. Higher growth of the packaging industry with preference for biodegradable packaging will also bolster the growth of the market for polyglycolic acid during the forecast period.
Segment Analysis:
Based on Form Type:
Based on the form type, the market is segmented as fibers, films, and others. The fibers segment held the largest share of the market in 2021, and is expected to remain dominant during the forecast period. The higher demand for fiber forms of polyglycolic acid is driving the growth of the segment, with its huge consumption in the medical industry in the formation of absorbable surgical sutures.
Based on Region:
In terms of regions, North America is estimated to be the largest market for polyglycolic acid during the forecast period, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities. The growth of the market is driven by the presence of old age population along with an increase in the number of cardiac, orthopedic, and hysterectomy surgeries and surge in medical tourism in the region.
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