April 24, 2020
According to the research report titled ‘Polyglycerol Sebacate (PGS) Market Size By Form , By Application, Regional Outlook Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, worldwide polyglycerol sebacate (PGS) market is expected to surpass USD 81 million by the year 2025.
Growing demand for polyglycerol sebacate for regenerative medicine and tissue engineering in biomedical sector is a prime factor driving the market growth. Continuous advancements in biomedical sector and shifting preferences towards improving the healing processes are further aiding the market expansion. However, availability of various substitutes for polyglycerol sebacate such as collagen, polyethylene glycol, polyglycolic acid and polylactic acid may hinder the market growth.
As per form type, polyglycerol sebacate paste segment is expected to grow with a CAGR of 9% during 2019-2025. It is widely used in adhesives, coatings for medical textiles, drug delivery and tissue engineering among others. On the other hand, polyglycerol sebacate market from soft-gel form segment is poised to expand at 9.5% CAGR through 2025.
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Based on the application spectrum, tissue engineering segment is presumed to grow significantly during the forecast timespan. Advancements in biomaterials have resulted in improvements in tissue engineering technology, primarily due to biomaterials’ elastomeric, non-toxic and biodegradable properties.
Alternatively, polyglycerol sebacate market from coatings application segment was worth USD 2.87 million in 2018 and is estimated to showcase a growth rate of 8.5% between 2019 and 2025. The product is used as a coating agent to enhance the mechanical characteristics of the medical textile.
Considering the geographical landscape, polyglycerol sebacate market in North America is expected to register a y-o-y growth rate of 11% through 2025. Increasing investments towards R&D activities in medical sector is fueling expansion rates of biomaterials market, which in turn is promoting the business outlook in North America.
At present, only Secant Group is prevailing in the polyglycerol sebacate market. However, there are various companies which use the product for laboratory R&D activities for testing as well as to acquire qualitative data regarding its performance parameters.
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