Bioresorbable Polymers Market Set to Witness an Uptick Size USD 5 Billion to 2032
The global Bioresorbable Polymers market is anticipated to garner US$ 5 Billion while expanding at a CAGR of 13% during the forecast period. The market is estimated at US$ 1.3 Billion in 2021 and US$ 1.47 Billion in 2022. Technological advancements, innovations in plastics, and evolved decontamination devices are boosting the product demand, thereby augmenting the industry’s growth.
|
Data Points |
Key Statistics |
|
Bioresorbable Polymers Market Value 2022 |
US$ 1.47 Billion |
|
Bioresorbable Polymers Market Projected Value (2032) |
US$ 5 Billion |
|
Bioresorbable Polymers Market CAGR (2022-2032) |
13% |
Bioresorbable polymers can biodegrade inside the human body,
which permits physicians to eradicate the necessity for the following surgery
to eliminate temporary implants. It also minimizes the post-surgery risk to the
patient without causing a threat to the patient’s body. Owing to these factors,
the product is finding wide application in the healthcare industry for the
manufacturing of stents and other implants.
In recent years, the demand for bioresorbable polymers has
burgeoned at a significant rate, backed by the growing health concerns among
consumers. Consumers do not want to take unnecessary medications and therapies
which may cause adverse effects on the human body after surgery. In terms of
product type, the demand for polylactic acid is rising at an impressive rate
owing to the growing adoption by manufacturers as a raw material for the
development of implants.
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Key Takeaways:
- By
Product type, the polylactic acid segment of the Bioresorbable Polymers
segment expanded at a ~12% CAGR
- Based
on Application, the orthopedic segment of Bioresorbable Polymers is
estimated to record an ~13% CAGR
- North
America region is likely to account for the majority share of nearly 32%
during the forecast period
- Europe
region is estimated to gain significant traction in the market for
Bioresorbable Polymers, Germany is likely to hold the majority share.
“With the growing adoption of the minimally invasive
surgery, the prominent manufacturers are compelled to develop the biodegradable
implants which in turn is likely to boost the demand for the bioresorbable
polymers over the coming years”.
Competitive Landscape
Key players in the global Bioresorbable Polymers market
include Corbion NV, Evonik Industries AG, Poly-Med Inc., Foster Corp., Abbott,
KLS Martin Group, 3D Biotek LLC., Sunstar Suisse S.A., DSM, Futerro, among
others.
Recent key developments among players are:
- In
June 2021, NatureWorks LLC invested USD 600 million for a PLA facility in
Thailand. The company is focusing on increasing its annual PLA production
capacity to 75,000 tons for Ingeo PLA grade.
- In
Jan 2021, Evonik closed its previously announced acquisition of the
LACTEL® Absorbable Polymers product line from DURECT Corporation. The
acquisition of the LACTEL® business strengthened the company’s innovation
growth field in Healthcare Solutions and Evonik’s position as a globally
leading integrated CDMO for drug delivery solutions.
- In
Feb 2022, 3D Biotek Introduced a new 3D InsertTMPCL scaffolds
for large-scale 3D cell expansion. As Compared with traditional 2D
culture, 3D InsertTM PCL technology more closely resembles
an in vivo In September 2020, DSM announced a partnership with PBC Biomed,
an Ireland-based medical device design and development company. This
partnership will focus initially on the development of regenerative bone
adhesives for safe and cost-effective surgical procedures.
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Key Segments Covered in the Bioresorbable Polymers
Industry Analysis
Bioresorbable Polymers Market by Product:
- Polysaccharides
Bioresorbable Polymers
- Proteins
Bioresorbable Polymers
- Polylactic
Acid Bioresorbable Polymers
- Polyglycolic
Acid Bioresorbable Polymers
- Polycaprolactone
Bioresorbable Polymers
- Others
Bioresorbable Polymers Market by Application:
- Bioresorbable
Polymers in Drug Delivery
- Bioresorbable
Polymers in Orthopedics
- Others
Bioresorbable Polymers Market by Region:
- North
America Bioresorbable Polymers Market
- Latin
America Bioresorbable Polymers Market
- Europe
Bioresorbable Polymers Market
- East
Asia Bioresorbable Polymers Market
- South
Asia Bioresorbable Polymers Market
- Oceania
Bioresorbable Polymers Market
- Middle
East & Africa Bioresorbable Polymers Market
More Valuable Insights
Future Market Insights, in its new offering, presents an
unbiased analysis of the bioresorbable polymers market presenting a historical
analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on Product
(Polysaccharides, Proteins, Polylactic Acid, Polyglycolic Acid,
Polycaprolactone, Others) by Application (Drug Delivery, Orthopedics, Other)
& Region (North America, Europe, East Asia, South Asia, Oceania, Middle
East & Africa, and Latin America).
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions/Exclusions
3. Key Market Trends
to be continued…!
About FMI
Future Market Insights (ESOMAR certified market research
organization and a member of Greater New York Chamber of Commerce) provides
in-depth insights into governing factors elevating the demand in the market. It
discloses opportunities that will favor the market growth in various segments
on the basis of Source, Application, Sales Channel and End Use over the next
10-years.
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