Global Polyglycolic Acid Market – Opportunities & Forecast, 2019-2026

Polyglycolic acid is a known as a multifilament suture material which is derived from homopolymer of glycolic acid and is a kind of thermoplastic, biodegradable polymer. This acid is available uncoated or coated and is absorbed by hydrolysis with less associated tissue inflammation than plain or silk. It is obtained by two processes, which are ring-opening polymerization of glycolide and polycondensation of glycolic acid.
The increasing investments in the healthcare sector leading to an expansion in the industry of medical devices along with the rising aged population globally is resulting in the growing demand for polyglycolic acid during the forecast period. Furthermore, the factors which are responsible for driving the growth of global polyglycolic acid market includes the rising demand for the absorbable suture and other tools in medical industry owing to the increasing diseases including ischemic heart diseases, cardiovascular diseases among others and increasing cases of hypertension. In addition, the increasing growth of the packaging industry primarily preferring the biodegradable packaging will lead to an increase in the growth of global polyglycolic acid market over the forecast period. The factors restraining the market growth includes the high cost in the maintenance and application of polyglycolic acid along with lack of awareness about its applications.
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On the basis of geography, North America is expected to grow at a highest compound annual growth rate during the forecast period owing to its high investments in healthcare infrastructure and rising number of cardiac, orthopaedic surgeries along with a substantial increase in the geriatric population in this region.
Various notable players operating in the global polyglycolic acid market including Kureha Corporation, Corbion, BMG Incorporated, Teleflex Incorporated, Huizhou Foryou Medical Devices Co. Ltd., Shenzhen Polymtek Biomaterial Co., Ltd. and El Du Pont De Nemours & Co. among others.
The global polyglycolic acid market has been segmented on the basis of form, application and key geographies. Based on form, the market is segmented into Fiber, Film and Others. Based on application, the market is segmented into Oil & Gas, Medical, Packaging and Others
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Key questions answered in this research report:
1- At what pace is global polyglycolic acid market growing? What will be the growth trend in the future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global polyglycolic acid market?
4- What are the various application areas and how they are poised to grow?
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