Bioresorbable Polymers Market by Type (Polylactic acid (PLA), Polyglycolic acid (PGA), Polylactic-co-glycolic acid (PLGA), Polycaprolactone(PCL)), application (orthopedic devices, drug delivery), and Region - Global Forecast to 2027
The bioresorbable polymers market size is estimated to be USD 417 million in 2022 and is expected to reach USD 688 million by 2027 at a CAGR of 10.5% during the forecast period. The major drivers of this market are the growing demand for these polymers in biocompatible medical devices and drug delivery applications. The upcoming technologies, such as the production of bioresorbable polymers through electrospinning and 3D printing, are the significant growth opportunities for the market. However, its high selling price compared to conventional polymers and lack of quality control measures in developing countries restrict the market's growth. The upcoming advanced processing methods help manufacture bioresorbable polymers with better qualities and improved strength.
“Polycaprolactone (PCL) is estimated to be the third-largest type in the bioresorbable polymers market in 2021, in terms of value.”
Polycaprolactone is commonly obtained by reacting caprolactone in the presence of metal alkoxides. It is used in the biomedicine domain for controlled drugs release applications. The consumption of polycaprolactone decreased in the past few years due to some toxicity issues. But resorbable polymer manufacturers have come up with less toxic PCL-based resorbable polymers. Drug delivery, tissue engineering, and orthopedic devices are the major applications of PLC-based bioresorbable polymers.
“Others was the second-fastest growing application for bioresorbable polymers market during the forecast period.”
The others application segment of bioresorbable polymers includes tissue regeneration, dental devices, cardiovascular devices, sutures, and wound management systems. Companies are using bioresorbable polymers in these applications. The increasing incidence of dental disease, growing demand for tooth repair procedures, growth in the geriatric population, and the increasing number of dental practitioners, clinics, and laboratories are driving the growth of the other applications market.
“APAC is projected to be the fastest growing bioresorbable polymers market during the forecast period, in terms of value.”
Owing to the favorable government initiatives and improved access to healthcare, the availability of inpatient and outpatient care for chronic diseases and the overall number of surgical procedures has increased in APAC. Additionally, the government offered tax subsidies for FDI by several countries has created a favourable environment for market players to expand their services and ensure further growth in this emerging market.
In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted. A breakdown of the profiles of the primary interviewees are as follows:
By Company Type: Tier 1 - 69%, Tier 2 - 23%, and Tier 3 - 8%
By Designation: C-Level - 23%, Director Level - 37%, and Others - 40%
By Region: North America - 32%, Europe - 21%, APAC - 28%, Middle East & Africa - 12%, and South America - 7%
The key market players profiled in the report include Corbion N.V. (The Netherlands), Evonik Industries AG(Germany), Foster Corporation (US), KLS Martin Group (Germany), DSM Biomedical (US), Inc, Ashland Global Holdings Inc. (US), Zeus Industrial Products(US), Inc, Seqens Group (France), REVA Medical, LLC (US), Poly-Med Incorporated (US), Bezwada Biomedical, LLC (US), Nomisma Healthcare Pvt. Ltd. (India), BMG Incorporated (Japan), Polysciences, Inc. (US), Huizhou Foryou Medical Devices Co., Ltd. (China), Musashino Chemical Laboratory, Ltd. (Japan), and Henan Xinghan Biotechnology Co. Ltd.(China).
This report segments the market for bioresorbable polymers on the basis of type, application, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, expansions, and mergers & acquisitions associated with the market for bioresorbable polymers.
Reasons to buy this report
This research report is focused on various levels of analysis — industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the bioresorbable polymers market; high-growth regions; and market drivers, restraints, opportunities and challenges
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on bioresorbable polymers offered by top players in the global bioresorbable polymers market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities in the bioresorbable polymers market
Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for bioresorbable polymers across regions
Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global bioresorbable polymers market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the bioresorbable polymers market
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