Bioresorbable Polymers Market

Market Overview:

The global bioresorbable polymers market size reached US$ 1.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.86% during 2024-2032. The significant growth in the healthcare industry, extensive research and development (R&D) activities, and the increasing prevalence of chronic diseases represent some of the key factors driving the market.

Bioresorbable polymers, also known as biodegradable or absorbable polymers, refer to materials that can be broken down by the body's natural metabolic processes. Polysaccharides, polylactic acid (PLA), polyglycolic acid, proteins, and polycaprolactone are some of the commonly available bioresorbable polymers. They are usually manufactured from vegetable oils derived from rapeseed, or sunflower corn fiber, castor, soybean, heat by-products, corn, stems, paper mill sludge, food processing waste, potato, livestock waste, and leaves. Bioresorbable polymers are widely used in dental implants, ligature clips, sutures, orthopedic fixation devices, medical implants, and drug-delivery devices. They exhibit high mechanical strength and are biocompatible, versatile, and degradable. As compared to non-bioresorbable polymers, bioresorbable polymers assist in reducing inflammation, improving healing, and eliminating the need for removal surgery.

Bioresorbable Polymers Market Trends:

The significant growth in the healthcare industry across the globe is one of the key factors driving the market growth. In line with this, the widespread product adoption in orthopedic elective surgeries, as synovial fluid within the orthopedic joints usually dries’ due to aging, which, in turn, is favoring the market growth. Additionally, the increasing prevalence of chronic diseases, such as cardiovascular diseases (CVDs), diabetes, and cancer, that require long-term treatment and often utilize medical devices and implants, are acting as another growth-inducing factor. Apart from this, the introduction of advanced bioresorbable polymers with improved properties, such as increased strength, flexibility, and biocompatibility, is providing an impetus to the market growth. Moreover, manufacturers are focusing on consumer-specific product positioning strategies due to the rising environmental consciousness and the rising demand for specialized orthopedic and drug delivery applications, which, in turn, is propelling the market growth. Furthermore, the increasing demand for polylactic acid that exhibits stiffness, biocompatibility, and relatively high strength and high modulus, thus making it suitable for use in the manufacturing of fixation devices, such as arrows, washers, pins, and screws in orthopedic surgeries, is creating a positive outlook for the market. Other factors, including extensive research and development (R&D) activities, rising expenditure capacities of consumers, increasing geriatric population, the introduction of electrospinning and three-dimensional (3D) printing technologies, and the implementation of various government initiatives to promote the use of sustainable materials, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global bioresorbable polymers market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on product, and application.

Product Insights:

• Polysaccharides
• Proteins
• Polylactic Acid
• Polyglycolic Acid
• Polycaprolactone
• Others
   

The report has provided a detailed breakup and analysis of the bioresorbable polymers market based on the product. This includes polysaccharides, proteins, polylactic acid, polyglycolic acid, polycaprolactone, and others. According to the report, polylactic acid represented the largest segment.

Application Insights:

• Drug Delivery
• Orthopedics
• Others
   

A detailed breakup and analysis of the bioresorbable polymers market based on the application has also been provided in the report. This includes drug delivery, orthopedics, and others. According to the report, orthopedics accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for bioresorbable polymers. Some of the factors driving the North America bioresorbable polymers market included the increasing prevalence of chronic diseases, extensive research and development (R&D) activities, and significant technological advancements.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global bioresorbable polymers market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Ashland Global Specialty Chemicals Inc., Bezwada Biomedical LLC, Corbion N.V., Evonik Industries AG (RAG-Stiftung), Foster Corporation, Nomisma Healthcare Pvt. Ltd., Poly-Med Incorporated, Reva Medical LLC, Seqens SAS, Zeus Company Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Questions Answered in This Report:

• How has the global bioresorbable polymers market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global bioresorbable polymers market?
• What is the impact of each driver, restraint, and opportunity on the global bioresorbable polymers market?
• What are the key regional markets?
• Which countries represent the most attractive bioresorbable polymers market?
• What is the breakup of the market based on the product?
• Which is the most attractive product in the bioresorbable polymers market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the bioresorbable polymers market?
• What is the competitive structure of the global bioresorbable polymers market?
• Who are the key players/companies in the global bioresorbable polymers market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the bioresorbable polymers market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global bioresorbable polymers market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the bioresorbable polymers industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.