Industry Outlook and Trend Analysis
The Polyglycolic Acid Market is predicted to garner lucrative market share by 2025, while registering itself at a significant compound annual growth rate (CAGR) during the forecast period. The polyglycolic corrosive (PGA) market is anticipated to witness considerable growth in medicinal industry in the following years. Increasing demand for absorbable suture and other enhanced surgical instruments has been the significant pattern in medical sector driving the polyglycolic acid (polyglycolide) market. The product has a variety of uses in medical industry including: biodegradable bone graft polymers, dental surgeries, absorbable sutures, in regeneration of organs, scaffolds in cell culture & transplantation and in drug delivery vehicles. The usage of absorbable sutures circumvents and the requirement for re-surgery for suture evacuation is probably going to be a key factor pushing the polyglycolide market in the following years.
Form Outlook and Trend Analysis
Fibre form captured a huge share of more than 40% out of 2016 and is foreseen to rise generously over the conjecture time period. The fibrous PGA has been utilized as monofilament, interlaced form or in mesh structure. Fibre form is anticipated to hold considerable demand in the upcoming years, in the medical sector for use in sutures, scaffolds, stents, adhesion barrier reinforcement, in synthetic dura, etc. Film form has been gaining demand in the packaging sector as a coating material for PET bottles.
Application Outlook and Trend Analysis
Numerous benefits of polyglycolide in shale gas extraction include: upgrading the profitability, cost-and operational proficiency of hydraulic fracturing tasks. PGA downhole devices dispose of the need of expensive drill-out procedures, since they corrupt and break down in water after use. Shale gas extraction is anticipated to be the quickest developing part with a significant CAGR over the forecast period. Packaging applications constituted around 30% share in worldwide polyglycolide market in 2016.
Regional Outlook and Trend Analysis
North America drove the general polyglycolide market in 2016 with a huge share over 60%. The locale is foreseen to witness critical interest for polyglycolide in shale gas extraction in the coming years. The U.S's. administration as the innovative producer of shale gas lately has set up it as a conceivable catalyzer for worldwide energy change. Europe polyglycolic acid market will likewise encounter significant development in the following years.
The leading players in the market are Teleflex, CSM N.V, Huizhou Foryou Medical Devices Co., Ltd, BMG Incorporated and Shenzhen Polymtek Biomaterial Co., Ltd. The global polyglycolic acid market was highly monopolistic in nature in 2016, as Kureha Corporation was the sole industrial-scale manufacturer of the product. The company possesses strong growth techniques for development of its business beyond North America in the upcoming years. While medical sutures are the major applications of product, Kureha is planning development of new applications using its patented cost-effective methods.
The Polyglycolic Acid Market is segmented as follows:
Shale gas Extraction
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2025?
What will be the industry market growth from 2015 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?