The Latin America, Middle East and Africa Polycaprolactone Market would witness market growth of 12.9% CAGR during the forecast period (2023-2030). In the year 2026, the LAMEA market's volume is expected to surge to 135.9 Hundred Tonnes, showcasing a growth of 13.2% (2023-2030).
PCL is highly biocompatible and well-tolerated by living organisms without causing adverse reactions. This property makes PCL suitable for various biomedical applications, including tissue engineering, drug delivery systems, surgical implants, wound dressings, and sutures. The adoption of PCL in the biomedical field has been driven by its ability to support cell growth, tissue regeneration, and controlled drug release.
Furthermore, injection molding, extrusion, and 3D printing are common polymer processing methods that can be easily applied to PCL. This ease of processing allows for producing complex shapes, structures, and customized products using PCL. The adoption of PCL in additive manufacturing and rapid prototyping has been driven by its compatibility with 3D printing technologies and ability to create intricate designs.
The market is growing due to substantial spending in the UAE’s healthcare industry. As per ITA, in the UAE’s 2022 federal budget, a total of $17.18 billion (AED 63.066 billion) was approved for public spending, of which 7.6% is dedicated to healthcare. likewise, the expansion of the healthcare sector in Brazil involves investments in healthcare infrastructure, including hospitals, clinics, and research facilities. According to the ITA, in 2021, Brazil’s private and public healthcare expenses comprised 9.1% of Brazil’s GDP. Brazil is the largest medical equipment sector in South America. Medical equipment and in vitro diagnostics sales in 2021 reached an estimated USD 7.5 billion. Hence, increasing healthcare expenditure in the region propels the market’s growth.
The Brazil market dominated the LAMEA Polycaprolactone Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $51.1 Million by 2030. The Argentina market is showcasing a CAGR of 14.1% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 12.5% during (2023 - 2030).
Free Valuable Insights: The Worldwide Polycaprolactone Market is Projected to reach USD 1.9 Billion by 2030, at a CAGR of 11.7%
Based on Production Method, the market is segmented into Ring Opening Polymerization, and Polycondesation of Carboxylic Acid. Based on Form, the market is segmented into Pellets, Nanosphere, and Microsphere. Based on Application, the market is segmented into Coating & Thermoplastic Polyurethane (TPU), Healthcare, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Production Method (Volume, Thousand Tonnes, USD Billion, 2019-2030)
By Form (Volume, Thousand Tonnes, USD Billion, 2019-2030)
By Application (Volume, Thousand Tonnes, USD Billion, 2019-2030)
By Country (Volume, Thousand Tonnes, USD Billion, 2019-2030)
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