The global bioresorbable (resorbable) polymers market size was worth USD 1,382.4 million in 2021 and is estimated to grow to USD 2,939.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 13.4 percent over the forecast period.
The global bioresorbable (resorbable) polymers market size was worth USD 1,382.4 million in 2021 and is estimated to grow to USD 2,939.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 13.4 percent over the forecast period. The report analyzes the bioresorbable (resorbable) polymers market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the bioresorbable (resorbable) polymers market.
Bioresorbable (Resorbable) Polymers Market: Overview
Materials that the human body may safely absorb without requiring mechanical removal are known as bioresorbable polymers. After serving its purpose, this particular family of polymers is broken down by bacteria through decomposition, leaving behind waste products like biomass, water, gases, and inorganic salts. The majority of these substances have a hydrophilic character. It is extensively utilized in bio-medical fields like drug delivery, tissue engineering, orthopedics, nanomedicines, and others. Additionally, it lessens the patient's risk following surgery without endangering their health. The final product is created by polymerizing bio-based raw ingredients using specialized industrial procedures. Polysaccharides, proteins, Polylactic Acid (PLA), Polyglycolic Acid, and Polycaprolactone are examples of bioresorbable polymers that are typically produced from vegetable oils derived from rapeseed, sunflower, corn fiber, castor, soybean, heat by-products, food processing waste, potato, corn, stems, paper mill sludge, livestock waste, leaves, and other materials. The global bioresorbable (resorbable) polymer market's primary drivers include rising surgical intervention rates, rising biocompatible medical device need, rising drug delivery application demand, and an advantageous reimbursement environment. The main drawbacks of bioresorbable polymers include their higher cost than traditional polymers, preference for minimally invasive surgery, and a lack of quality control in developing nations.
The global epidemic has impacted nearly all areas of society. The global supply chain disruptions and delays in scheduled procedures have had a detrimental impact on the market for bioresorbable polymers, which has shown negative growth. The decrease in demand from the medical industry led to this issue. Raw material availability was constrained, and products took longer to reach their destination. But later, when its demand was stimulated in the health industries, the market for bioresorbable polymers recovered from the loss. Throughout the epidemic, the medical sector remained operational, which fueled the global market. In 2021, after the mass immunization campaign launch, other developing nations also increased their production of bioresorbable polymers.
Bioresorbable (Resorbable) Polymers Market: Growth Drivers
The growing interest in biocompatible medical equipment will drive the growth of the market
Stents, sutures, and scaffolds implanted inside the human body during surgery to maintain the organ are commonly made from bioresorbable polymers. They can also be implanted inside people to release drugs under regulated conditions. Bioresorbable polymers gradually dissolve once the patient's organ starts to recover, and the body absorbs them once their intended role has been accomplished. The patient doesn't need a second surgical procedure to remove these items because the body absorbs them independently. As a result, the entire process is affordable and convenient for the patient. For instance, bioresorbable polymers are employed in maxillofacial surgery to help the healing process and are disintegrated when no longer required. Consumers today are more health concerned since they don't want to be subjected to unneeded medications and medical procedures that weaken the body over time and have several negative consequences on health.
Bioresorbable (Resorbable) Polymers Market: Restraints
Preference for minimally invasive procedures is rising, which will hamper the growth of the market
The advantages of minimally invasive operations, such as a shorter hospital stay, a quicker recovery, and less pain and bleeding, are mostly to blame for the rise in popularity of these procedures. The usage of various medical devices has been curtailed due to the rising preference for these treatments over traditional surgery, which could impede the global bioresorbable (resorbable) polymers market expansion. One of the most popular minimally invasive surgical procedures, laparoscopy, necessitates one or more small incisions (0.5-1.5 cm) in the abdomen or pelvis. These surgeries don't require several stitches because the incisions are so small, which lowers the demand for surgical sutures. Consequently, there will be less need for bioresorbable polymers in such sutures.
Bioresorbable (Resorbable) Polymers Market: Opportunity
Technologies such as electrospinning and 3D printing will create new market opportunities
Excellent cell adhesion and proliferation characteristics are displayed by bioresorbable polymers, making them perfectly suited for tissue engineering applications. These polymers are formed into scaffolds using a variety of processes, including electrospinning and polymer printing, to produce nanomaterials and microstructures that aid tissue growth. Highly complex designs with controllable properties can be created for efficient and seamless tissue engineering via 3D printing. These technologies present a significant possibility for developing organ-like structures, which have been challenging to duplicate. These techniques respond to the significant increase in demand for acceptable organs for organ transplantation.
Bioresorbable (Resorbable) Polymers Market: Challenges
Strict legal requirements for medical devices will act as a huge challenge for market growth
A new piece of bioresorbable medical equipment is expensive to create, and it frequently takes new products more than 7-8 years to be approved for sale. For example, the US FDA requires that manufacturers of bioresorbable medical devices obtain Premarket Approval (PMA) before putting their products on the market. Since bioresorbable medical devices are classified as Class III items, significant regulatory compliance is required. This poses a considerable obstacle to the widespread use of novel bioresorbable polymers.
Bioresorbable (Resorbable) Polymers Market: Segmentation
The global bioresorbable (resorbable) polymers market has been segmented into type and application.
Based on type, the worldwide bioresorbable (resorbable) polymers are segmented into polylactic acid (PLA), polyglycolic acid (PGA), poly(lactic-co-glycolic acid) (PLGA), polycaprolactone(PCL), and others. In 2021, poly(lactic-co-glycolic acid) (PLGA) dominated the market. An elastomeric copolymer made of lactic and glycolic acids is called PLGA. The utilization of PLGA for drug delivery is its primary use. Key traits of PLGA include mechanical qualities, biocompatibility, biodegradability, and ease of processing. Additionally, PLGA is utilized in prosthetic and tissue engineering devices. Combining PGA greatly enhances the mechanical characteristics of PLA and its capacity to degrade. As a result, it is the type of polymer most frequently used for medication administration.
Based on application, the worldwide bioresorbable (resorbable) polymers are segmented into orthopedic devices, drug delivery, and others. The orthopedic devices segment dominated the market share in 2021. The major use of resorbable polymers is in orthopedics. Resorbable polymers are utilized in this application during surgery. Sutures, screws, stents, and pins are all manufactured using resorbable polymers. Orthopedic implants are made to support a fractured part after surgery. When these implants are inserted into the body, they carry out the intended function, and once finished, they naturally dissolve into the body. These resorbable polymer-based solutions are employed in various orthopedic sub-applications, including sports injuries, hip, knee, and spine injuries.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Bioresorbable (Resorbable) Polymers Market: Regional Landscape
North America dominated the bioresorbable (resorbable) polymers market in 2021
With more than 32.0 percent of global industry sales, North America dominated the global bioresorbable (resorbable) polymers market in 2021. With the rising demand for these polymers in the biomedical industries, which has been driving the regional market in recent years, it holds the biggest market share. With significant industrial players, the US and Canada are the two primary North American areas responsible for the market's expansion. The regional market is being accelerated by the development in discoveries and cutting-edge technologies to enhance innovative biocompatible polymers for extending their physical and degrading features. The region's increasing consumer awareness is anticipated to fuel market demand.
Bioresorbable (Resorbable) Polymers Market: Competitive Landscape
Some of the main competitors dominating the global bioresorbable (resorbable) polymers market include- Corbion N.V., Evonik Industries AG, Foster Corporation, KLS Martin Group, DSM Biomedical, Inc, Ashland Global Holdings Inc., Zeus Industrial Products, Inc, Seqens Group, REVA Medical, LLC, Poly-Med Incorporated, Bezwada Biomedical, LLC, Nomisma Healthcare Pvt. Ltd., Polysciences, Inc., Musashino Chemical Laboratory, Ltd., Henan Xinghan Biotechnology Co. Ltd., BMG Incorporated, and Huizhou Foryou Medical Devices Co., Ltd.
Global Bioresorbable (Resorbable) Polymers Market is segmented as follows:
The improvement in patient comfort provided by bioresorbable polymers is the main factor driving the global market for bioresorbable polymers. Another important factor influencing the global bioresorbable polymers market is the rising demand for bioresorbable polymers for medication administration.
According to the report, the global bioresorbable (resorbable) polymers market size was worth USD 1,382.4 million in 2021 and is estimated to grow to USD 2,939.7 million by 2028 with a compound annual growth rate (CAGR) of approximately 13.4 percent over the forecast period.
With the rising demand for these polymers in the biomedical industries, which has been driving the regional market in recent years, North America holds the biggest market share. With significant industrial players, the US and Canada are the two primary North American areas responsible for the market's expansion.