The market for biodegradable polymers that can be safely absorbed by the body over time without causing any harm to the body is referred to as the Bioresorbable Polymers Market. These polymers are used in the medical and pharmaceutical industries for a variety of purposes, including drug delivery, surgical sutures, and orthopaedic implants. The demand for biodegradable polymers in the medical and pharmaceutical industries is expected to drive significant growth in the bioresorbable polymers market in the coming years. The increasing prevalence of chronic diseases such as cardiovascular disease and cancer has resulted in an increase in demand for bioresorbable polymers for drug delivery applications.
Increased demand for orthopaedic implants and surgical sutures that can be safely absorbed by the body, reducing the risk of complications and the need for additional surgery to remove them, is also driving the market. Bioresorbable polymers have been shown to reduce the risk of infection and inflammation, as well as to improve wound healing and scarring.
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Key Takeaways from the Study
- Bioresorable Polymers market was valued at US$ 1.3 Bn in 2021. According to Fact.MR, Bioresorable Polymers revenue would increase 4.1X between 2022 and 2032, reaching roughly US$ 6.2 Bn in 2032.
- In terms of Product Type, Biopolyesters is projected to account for the highest projected CAGR of over 16.5%.
- In terms of application, revenue through Orthopedics accounted for the highest CAGR of 13.2% during 2017-21.
- US is the dominant country in Bioresorable Polymers market with an expected absolute dollar growth opportunity of over US$ 1.7 Bn.
Competitive Landscape
Some of the key players in bioresorbable polymers market are Corbion NV, Evonik Industries AG, Poly-Med, Inc., KLS Martin Group, Foster Corporation, Ashland Global Holdings Inc., DSM Biomedical, Inc, Zeus Industrial Products, Inc, REVA Medical, LLC., Poly-Med Incorporated, Bezwada Biomedical, and Nomisma Healthcare Pvt. Ltd.
Some of the recent developments of key Bioresorbable Polymers providers are as follows:
- In March 2021, Ashland Global Holdings Inc. expanded the production plant for its Viatel bioresorbable polymer and relocated its research and development (R&D) activities from Dublin to Mullingar’s National Science Park.
- In September 2020, Corbion and Total announced plans to develop a new polylactic acid bioplastics plant in Europe. The plant, which will be Europe’s first global-scale Polylactic acid production facility, is estimated to have a capacity of 100 thousand tonnes per year. The new factory is scheduled to open in 2024 and will be located in France. This additional polylactic acid investment will hasten plans to increase lactic acid production and meet the increasing demand for polymers.
Key Companies Covered
- Corbion N V
- Evonik Industries AG
- Poly-Med, Inc.
- KLS Martin Group
- Foster Corporation
- Ashland Global Holdings Inc.
- DSM Biomedical, Inc
- Zeus Industrial Products, Inc
- REVA Medical, LLC.
- Poly-Med Incorporated
- Bezwada Biomedical
- Nomisma Healthcare Pvt. Ltd.
Region-wise analysis of the bioresorbable polymers market:
- Europe: Europe is expected to see significant growth in the bioresorbable polymers market, driven by increasing demand for biodegradable polymers in the medical and pharmaceutical industries. The region is also home to a large number of medical device manufacturers, which is expected to further drive the demand for bioresorbable polymers in the region.
- North America: North America is expected to see significant growth in the bioresorbable polymers market, driven by increasing demand for bioresorbable polymers for drug delivery applications and orthopedic implants. The region is also home to a large number of pharmaceutical companies, which is expected to further drive the demand for bioresorbable polymers in the region.
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Asia Pacific: The Asia Pacific region is expected to see significant growth in the bioresorbable polymers market, driven by increasing demand for bioresorbable polymers in the medical and pharmaceutical industries, particularly in countries such as China, India, and Japan. The region is also home to a large number of medical device manufacturers, which is expected to further drive the demand for bioresorbable polymers in the region
