Poly (Lactic-Co-Glycolic Acid) (PLGA) Market

Poly (lactic-co-glycolic acid) (PLGA) is a biodegradable polymer composed of lactic acid and glycolic acid. It is widely used in the pharmaceutical and medical device industries for drug delivery systems, tissue engineering, and biodegradable implants. In the healthcare sector, PLGA microspheres and nanoparticles are used to control the release of drugs and improve their efficacy.

The global PLGA market is experiencing growth due to increasing demand for sustained-release drug delivery systems, rising investments in research and development, and the biocompatibility and biodegradability of PLGA, which makes it suitable for various medical applications. The market has been forecast to see 13% growth in revenue through 2030, reaching an estimated valuation of US$2 Bn.

Some of the major players in the global PLGA market include Polysciences, Inc., Evonik Industries AG, DSM, Mitsui Chemicals, Ashland Inc., Creative PEGWorks, Poly-Med Incorporated, and other pharmaceutical and polymer manufacturing companies.

There are regulatory considerations for the use of PLGA in both pharmaceuticals and medical devices. PLGA-based products must comply with regulatory requirements and standards set by agencies such as the US FDA, and the European Medicines Agency (EMA) to ensure safety, and efficacy.

Some of the major trends visibly growing in the PLGA industry include the development of advanced PLGA formulations, increased adoption of PLGA in the field of regenerative medicine, and the exploration of PLGA in novel applications like 3D printing. On the other hand, the significant challenges facing market include intensifying competition from alternative polymers, cost considerations, and the dearth of adequate specialised manufacturing expertise.