Global polyglycerol sebacate market is anticipated to cross US $81 million by the year 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2019-2025.
As per the report, the application of polyglycerol sebacate in tissue engineering & regenerative medicine is the major factor driving the market growth around the world. The product possesses mechanical properties which can be modulated according to the need, as in case of cardiac tissue engineering where the product is engineered to match the properties of myocardial tissues.
According to the report, the tissue engineering & regenerative medicine market witnessed a substantial leap from US $17 billion in 2013 to more than US $47 billion in 2018, owing to the constant innovations and developments in the biomedical field to enhance the healing process. This factor along with the numerous desirable properties of polyglycerol sebacate will boost the product demand in the upcoming years.
Various characteristics of polyglycerol sebacate such as being biodegradable, elastomeric, and non-toxic have enabled its application in development of novel combat solution for fatal diseases, thereby revolutionizing the tissue engineering field. This field is known to provide cost-effective and excellent medical care to the patients around the world.
Though the research & advancements will drive the polyglycerol sebacate market growth, but the presence of product substitutes such as polyglycolic acid, polylactic acid, polycaprolactone chitosan, polyethylene glycol, and collagen will hamper the product demand over the estimated period. Other factors impeding the market growth are the uncertainty regarding the biocompatibility, functional effects, and degradability of the product on the long-term basis.
Considering the form type, the paste-based polyglycerol sebacate market was worth US $12.5 million in 2018 and is presumed to grow 9% over the forecast period, owing to the usage of product in drug delivery, tissue engineering, adhesives, and medical textile coatings. While the soft-gel segment of polyglycerol sebacate is estimated to register 9.5% CAGR by the year 2025.
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Based on the application spectrum, polyglycerol sebacate market from coatings application was worth US $2.87 million in 2018 and is anticipated to witness 8.5% growth by 2025, pertaining to the use of product in medical textiles to enhance the mechanical properties and aiding fast healing. The textile coating is known to minimize inflammation & adhesion, promote healing & cell growth, imparts elasticity and provides better material response to deformation. The product finds application in endovascular grafts, neurovascular stents, heart valves, load sharing scaffolds, and soft tissue repair products, among others.
In terms of regional contribution, polyglycerol sebacate market of North America is predicted to register a CAGR of 11% over the forecast timeframe, owing to increasing medical R&D expenditures in the region. The growing inclination towards biomaterials, which uses polyglycerol sebacate will further fuel the global product market growth.
The report claims that there is single dominating player in the polyglycerol sebacate market at present, which is Secant Group, the only company manufacturing the product. However, many companies produce the product for laboratory and research purposes to attain data on its qualities and properties.