Global Polyglycolic Acid Market is predicted to reach USD 10.61 billion at a CAGR of 10.01% during the forecast period:

Market Research Future (MRFR) has published a cooked research report on the “Global Polyglycolic Acid Market” that contains information from 2023 to 2032. The Global Polyglycolic Acid Market is estimated to register a CAGR of 10.01% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the Global Polyglycolic Acid Market— Kureha Corporation, Corbion N.V., Shenzhen Polymtek Biomaterial Co. Ltd, BMG Incorporated, Huizhou Foryou Medical Devices Co. Ltd., and Teleflex Inc.

Market Highlights

The Global Polyglycolic Acid Market is accounted to register a CAGR of 10.01% during the forecast period and is estimated to reach USD 10.61 Billion by 2032.

The Global Polyglycolic Acid (PGA) Market refers to the worldwide market for a synthetic polymer made from glycolic acid. PGA is a biodegradable and bioabsorbable material, commonly used in various applications due to its unique properties. Some key characteristics of PGA include high strength, excellent biocompatibility, and a fast rate of degradation in the body.

The growth of the Global Polyglycolic Acid Market is influenced by factors such as increasing awareness of environmental sustainability, rising demand for biodegradable materials, and advancements in medical technology. Additionally, ongoing research and development efforts in polymer science may lead to further innovations and applications for PGA.

Segment Analysis

The Global Polyglycolic Acid Market has been segmented based on form and application.

On the basis of form, the market is segmented into fiber and film. The film segment dominated the market, accounting for 49% of market revenue in 2022. Using fiber to make items used in the oil & gas sector and the healthcare equipment business is an important aspect that will increase demand. 

Based on application, the market has been segmented into medical, oil & gas extraction and packaging. The medical category generated the most income of about 45% in 2022. The usage of PGA in the medical business enhanced its performance. The primary application areas will substantially impact business performance throughout the anticipated period. 

Regional Analysis

The Global Polyglycolic Acid Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Global Polyglycolic Acid Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Global Polyglycolic Acid Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Global Polyglycolic Acid Market comprises of Middle East, Africa, and Latin America.

North America, led by the United States, was a major player in the PGA market. The region's advanced healthcare industry, emphasis on environmental sustainability, and research and development activities in various sectors contributed to the demand for PGA-based products.

European countries also showed a strong presence in the PGA market. The region's well-established healthcare infrastructure, along with stringent environmental regulations promoting the use of biodegradable materials, drove the demand for PGA.

The Asia-Pacific region demonstrated substantial growth potential in the PGA market. Rapid industrialization, increasing healthcare expenditure, and growing environmental concerns in countries like China, Japan, South Korea, and India contributed to the rising demand for PGA-based products.

Furthermore, the rest of the world's Global Polyglycolic Acid Market is divided into the Middle East, Africa, and Latin America. The PGA market in Latin America experienced moderate growth, with Brazil and Mexico being the key contributors. The region's expanding medical tourism and a shift towards eco-friendly materials in various industries were driving factors.

Key Findings of the Study

• The Global Polyglycolic Acid Market is expected to reach USD 10.61 Billion by 2032, at a CAGR of 10.01% during the forecast period.


• North America, led by the United States, was a major player in the PGA market. The region's advanced healthcare industry, emphasis on environmental sustainability, and research and development activities in various sectors contributed to the demand for PGA-based products.


• Based on form, the market is segmented into fiber and film to holding the largest market in 2022.


• Kureha Corporation, Corbion N.V., Shenzhen Polymtek Biomaterial Co. Ltd, BMG Incorporated, Huizhou Foryou Medical Devices Co. Ltd., and Teleflex Inc.

Read More About This Report: Polyglycolic Acid Market size