SAN FRANCISCO, U.S., June 19, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Bioresorbable (Resorbable) Polymers Market 2022 – 2028” in its research database. According to the latest research study, the demand of global bioresorbable (resorbable) polymers market size was worth at approximately USD 1382.4 million in 2021. The market is expected to grow above a CAGR of 13.4% and is anticipated to reach over USD 2939.7 million by 2028.
The report analyzes the bioresorbable polymers market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the bioresorbable (resorbable) polymers market.
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Market Overview:
A ground-breaking technological material known as bioresorbable polymers can be broken down by the body and doesn't need to be removed mechanically, unlike sutures or the chlorhexidine chip. Medical devices that utilize bioresorbable materials include sutures, coronary & peripheral vascular scaffolds, tissue fixation screws, bone pins and anchors, drug delivery coatings, microspheres, and surgical meshes & matrices.
These materials may enable drug elution & distribution and serve a mechanical purpose. They consist of biologically derived substances such as natural collagen, metals, ceramics, glasses, and polymers. Although bioresorbable sutures have been available for more than 40 years, this industry is still in its early stages. Recent innovations have expanded the market to cover general, orthopedic, and cardiovascular surgery. It is extensively utilized in bio-medical fields like drug delivery, tissue engineering, orthopedics, nanomedicines, and others. Since bioresorbable polymers can decay inside the human body, doctors can avoid performing a second operation to remove temporary implants. Additionally, it lessens the patient's risk following surgery without endangering their health. The final product is created by polymerizing bio-based raw ingredients using specialized industrial procedures.
Key Insights from Primary Research
- As per the analysis, the bioresorbable (resorbable) polymers market is likely to grow above a CAGR of around 13.4% between 2022 and 2028.
- The Bioresorbable (Resorbable) Polymers market size was worth around USD 1382.4 million in 2021 and is estimated to hit approximately USD 2939.7 million by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The primary factor driving the worldwide bioresorbable (resorbable)polymers market is the rising demand for bioresorbable (resorbable)polymers for drug administration and the improvement in patient comfort that these polymers bring.
- By type, the poly (lactic-co-glycolic acid) (PLGA) category dominated the market in 2021.
- By application, the orthopedic devices category dominated the market in 2021.
- North America dominated the global bioresorbable (resorbable) polymers market in 2021.
Market Dynamics:
The improvement in patient comfort provided by bioresorbable polymers is the main factor driving the global market for bioresorbable (resorbable) polymers. Conventional materials left in the body after surgery needed to be removed via a small procedure; some of these items posed health dangers to the patient. With their ability to slowly dissolve into the body over time, bioresorbable polymers negate both of these issues. Another important factor influencing the global bioresorbable (resorbable) polymers market is the rising demand for bioresorbable polymers for medication administration. Bioresorbable polymers are ideal for medication delivery due to their chemical neutrality and safe in-body breakdown. The primary obstacles in this industry continue to be the strict regulatory environment for medical devices and the lack of qualified employees to efficiently use bioresorbable medical products.
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COVID-19 Impact Analysis:
Almost every aspect of society has been affected by the pandemic. The disruptions in the global supply chain and delays in scheduled procedures have had a negative impact on the market for bioresorbable polymers, which has demonstrated a decline. This issue was caused by a decline in demand from the medical industry. The availability of raw materials was limited, and it took longer for products to reach their destination. The market for bioresorbable polymers recovered, however, when its demand was stimulated within the health industries. During the duration of the pandemic, the medical industry remained operational, fueling the global market. After the commencement of the mass immunization campaign in 2021, other developing nations increased their bioresorbable polymer production.
Competitive Players
The report contains qualitative and quantitative research on the global Bioresorbable (Resorbable) Polymers Market, as well as detailed insights and development strategies employed by the leading competitors. Some of the main players in the global Bioresorbable (Resorbable) Polymers market include;
- Corbion N.V.
- Evonik Industries AG
- Foster Corporation
- KLS Martin Group
- DSM Biomedical, Inc
- Ashland Global Holdings Inc.
- Zeus Industrial Products, Inc
- Seqens Group
- REVA Medical, LLC
- Poly-Med Incorporated
- Bezwada Biomedical, LLC
- Nomisma Healthcare Pvt. Ltd.
- Polysciences, Inc.
- Musashino Chemical Laboratory, Ltd.
- Henan Xinghan Biotechnology Co. Ltd.
- BMG Incorporated
- Huizhou Foryou Medical Devices Co., Ltd.
Bioresorbable Polymers Market: Segmentation
The global bioresorbable (resorbable) polymers market is segregated based on type, application, and region. Based on type, the market is divided into polylactic acid (PLA), polyglycolic acid (PGA), poly (lactic-co-glycolic acid) (PLGA), polycaprolactone (PCL), and others. In 2021, poly (lactic-co-glycolic acid) (PLGA) dominated the market.
Based on application, the market is divided into orthopedic devices, drug delivery, and others. The orthopedic devices segment dominated the market share in 2021. The major use of resorbable polymers is in orthopedics. Resorbable polymers are utilized in this application during surgery. Sutures, screws, stents, and pins are all manufactured using resorbable polymers.
Regional Analysis:
The global bioresorbable (resorbable) polymers market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America: With more than 32.0% of global industry sales, North America dominated the market in 2021. The region's rising product usage explains this in orthopedics and medicine delivery applications. The bioresorbable polymers market in North America is further fueled by the U.S., a significant center for research and development in the healthcare sector. Additionally, the expanding markets for orthopedics and drug delivery systems support this region's need for bioresorbable polymers.
Asia Pacific: During the forecast period, the Asia Pacific will experience the fastest growth in value and volume. The Asia Pacific is a desirable market for bioresorbable polymers due to the rapid economic growth of emerging nations and rising per capita disposable income. The presence of high-growth economies like India, China, and Japan, as well as the quick aging of the population, the rising number of hospitals, supportive reimbursement policies, the implementation of helpful government initiatives, rising per capita income, significant investments in the healthcare sector, demand for cutting-edge surgery products, and the expansion of private hospitals into rural areas are additional factors driving the market in APAC.
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Recent Industry Developments:
- In September 2020, DSM partnered with Irish medical device design and development company PBC Biomed. This relationship's initial focus will be creating regenerative bone adhesives for safe and economical surgical operations.
- In February 2020, Evonik, a leader in biomaterials, developed the first bioresorbable polymer in powder form appropriate for printing high-resolution implanted medical devices using Selective Laser Sintering (SLS) machinery. Free-flowing RESOMER PrintPowder has precise specifications and an optimized particle size distribution for quick processing. Evonik's cutting-edge powder preparation capabilities can make it easier to deliver formulations with ISO 13485 certification for use in research and development and sale. Upon request, a variety of customization choices are offered.
Key questions answered in this report:
- What is the market size and growth rate forecast for Bioresorbable (Resorbable) Polymers industry?
- What are the main driving factors propelling the Bioresorbable (Resorbable) Polymers Market forward?
- What are the leading companies in the Bioresorbable (Resorbable) Polymers Industry?
- What segments does the Bioresorbable (Resorbable) Polymers Market cover?
- How can I receive a free copy of the Bioresorbable (Resorbable) Polymers Market sample report and company profiles?
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2021 | USD 1382.4 Million |
| Market Forecast in 2028 | USD 2939.7 Million |
| Growth Rate | CAGR of 13.4% |
| Base Year | 2021 |
| Forecast Years | 2022- 2028 |
| Key Companies Covered | Corbion N.V., Evonik Industries AG, Foster Corporation, KLS Martin Group, DSM Biomedical, Inc, Ashland Global Holdings Inc., Zeus Industrial Products, Inc, Seqens Group, REVA Medical, LLC, Poly-Med Incorporated, Bezwada Biomedical, LLC, Nomisma Healthcare Pvt. Ltd., Polysciences, Inc., Musashino Chemical Laboratory, Ltd., Henan Xinghan Biotechnology Co. Ltd., BMG Incorporated, and Huizhou Foryou Medical Devices Co., Ltd. |
| Segments Covered | By Type, By Application, and Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The global bioresorbable (resorbable) polymers market is segmented as follows:
By Type
- Polylactic acid (PLA)
- Polyglycolic acid (PGA)
- Poly (lactic-co-glycolic acid) (PLGA)
- Polycaprolactone (PCL)
- Others
By Application
- Orthopedic devices
- Drug delivery
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key Offerings:
- Market Size, Trends, & Forecast by Revenue | 2022-2028
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Type, By Application, and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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