Bioresorbable Medical Material Market  By Product Type (Polylactide, Poly-L-lactide, Poly-DL-lactide, Polyglycolide, Polycaprolactone, Others) , By Application (Drug Delivery, Medical Devices, Orthopedics, Others) : Global Opportunity Analysis and Industr

Bioresorbable Medical Material Market  By Product Type (Polylactide, Poly-L-lactide, Poly-DL-lactide, Polyglycolide, Polycaprolactone, Others) , By Application (Drug Delivery, Medical Devices, Orthopedics, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033

The bioresorbable medical material market was valued at $0.4 billion in 2023, and is projected to reach $1.2 billion by 2033, growing at a CAGR of 10.6% from 2024 to 2033.

Bioresorbable medical material refers to a class of materials designed to dissolve or be absorbed by the body over time after serving their medical purpose. These materials are used in various medical applications, such as implants, sutures, and drug delivery systems, where temporary support or function is required.

Rise in demand for minimally invasive surgical procedures has fueled the adoption of bioresorbable materials, which reduce the need for follow-up surgeries to remove implants or sutures. In addition, increase in prevalence of cardiovascular diseases, orthopedic disorders, and other chronic conditions among aging populations is creating a higher demand for bioresorbable implants and devices, thereby driving the growth of the global bioresorbable medical material market. Moreover, healthcare providers are increasingly focused on improving patient outcomes and reducing the risk of complications, making bioresorbable materials appealing due to their ability to dissolve naturally without requiring additional surgical interventions. Furthermore, the growing field of tissue engineering and regenerative medicine is significantly contributing to the demand for bioresorbable scaffolds and materials that promote tissue repair and regeneration. Increase in awareness among healthcare professionals and patients regarding the benefits of biocompatible, bioresorbable materials over conventional, non-absorbable alternatives is further driving the market growth. However, high costs associated with development and manufacturing bioresorbable materials restrain the market growth. In addition, availability of established conventional non-resorbable materials like titanium and stainless steel acts as a key deterrent factor of the market. On the contrary, advances in medical device technologies, such as bioresorbable stents and screws, have boosted the adoption of these materials in orthopedic, dental, and cardiovascular applications. Such developments are expected to open new avenues for the expansion of the global market during the forecast period.

The bioresorbable medical material industry is segmented into product type, application, and region. On the basis of product type, the market is bifurcated into polylactide (PLA) , poly-L-lactide (PLLA) , poly-DL-lactide (PDLLA) , polyglycolide (PGA) , polycaprolactone (PCL) , and others. Depending on application, it is divided into drug delivery, medical devices, orthopedics, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

On the basis of product type, the polylactide (PLA) segment is expected to dominate the market from 2024 to 2033.

Depending on application, orthopedics is anticipated to be the largest segment in the bioresorbable medical materials market.

Region wise, North America held the largest market share in terms of revenue in 2023, and is expected to dominate the market during the forecast period.

Competition Analysis

Competitive analysis and profiles of the major players in the global bioresorbable medical material market include Medtronic, Stryker Corporation, Johnson & Johnson, Boston Scientific Corporation, Smith & Nephew Plc, Zimmer Biomet Holdings, Inc., B . Braun Melsungen AG, KLS Martin Group, Dare Bioscience, Inc., and Amedica Corporation. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to sustain the intense competition and gain a strong foothold in the global market.

Key Market Segments

By Product Type

Polylactide
Poly-L-lactide
Poly-DL-lactide
Polyglycolide
Polycaprolactone
Others

By Application

Drug Delivery
Medical Devices
Orthopedics
Others

By Region

North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA

Key Market Players

Medtronic
Stryker Corporation.
Johnson & Johnson
Boston Scientific Corporation
Smith & Nephew plc
Zimmer Biomet Holdings, Inc.
B . Braun Melsungen AG
KLS Martin Group
Dare Bioscience, Inc.
amedica corporation