Abstract
Polymeric biomaterials have been used for various biomedical applications for several decades. Of these polymers, the application of PLA(poly(lactic acid)), PGA(poly(glycolic acid)), and their copolymers has received a great deal of attention in the past 15 years for use in controlled drug delivery systems, tissue repair, tissue engineering, and controlling certain biological events. Interest in synthetic absorbable polymers has grown considerably over the last three decades, principally because of their transient nature when used as biochemical implants or drug carriers. The global market of polymeric biomaterials is expected to amount to $ 2.8 billion in 2012 and $ 4.6 billion in 2015. We focused on the recent progress in R&D and analyzed the recent market trend related to polymeric biomaterials.