Global Bioresorbable Polymers Market 2017-2021
About Bioresorbable Polymers
Bioresorbable polymers are a category of biopolymers, which are biodegradable polymers that are produced naturally or synthetically. Biopolymers are renewable, sustainable, biodegradable, non-toxic, non-immunogenic, non-thrombogenic, and non-carcinogenic. The Key application segments for the biopolymers are coatings, plastics, oil industry, biomedical, pharmaceutical, and automotive.
Technavio’s analysts forecast the global bioresorbable polymers market to grow at a CAGR of 13.71% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global bioresorbable polymers market 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bioresorbable Polymers Market 2017-2021
Technavio recognizes the following companies as the key players in the global bioresorbable polymers market: Corbion, Evonik Industries, Foster Corporation, KLS Martin and Poly-Med.
Other Prominent Vendors in the market are: Sigma-Aldrich, Mar-Lee Companies, LACTEL Absorbable Polymers, DSM, PCAS, Galatea Surgical, Edge Design Services, Degradable Solutions, Amplitude Systèmes, and MAST Biosurgery.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Growing medical tourism. Medical device innovators of the developed region are venturing into offshore sites to establish bioresorbable polymers industries. Many medical device innovation centers are operational in the US. They are focusing on clinical data, new product registration, and the initial streams of revenue, which is significant for the bioresorbable polymers market in the US to play a leading role in the industry.”
According to the report, one of the major drivers for this market is Increasing ageing demographic. Ageing demographic plays an important part in fostering the growth of medical devices. For instance, both developed and developing countries around the world are taking several steps to increase their healthcare budgets. In addition, several countries are investing in healthcare programs to cater to the aged population. The age-related conditions include hearing problems, mobility issues, orthopedic, cardiovascular, neurological, and endocrine diseases. In countries such as Japan, Thailand, China, and western Europe, the life expectancy has grown up to 73.5 years. An estimated 11.01% of the total global population will be more than 65 years old in the next 5 years. The aging population growth has driven the growth in the medical device sector as well. Bioresorbable polymers are used in such devices, thereby increasing their demand.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating raw material prices. The raw materials used for lactide, glycolide, and caprolactone production are obtained from synthetic sources. These raw materials such as styrene, benzene, xylene, dioxane, are synthetically acquired from the oil and gas industry. The fluctuations in the cost of crude oil significantly impact the prices of the raw materials used for manufacturing bioresorbable polymers. Subsequently, the cost of bioresorbable polymers also fluctuates.
Corbion, Evonik Industries, Foster Corporation, KLS Martin, Poly-Med, Sigma-Aldrich, Mar-Lee Companies, LACTEL Absorbable Polymers, DSM, PCAS, Galatea Surgical, Edge Design Services, Degradable Solutions, Amplitude Systèmes, and MAST Biosurgery.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook