Bioresorbable Polymers Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

The global bioresorbable polymers market is anticipated to expand at a CAGR of 12.0% during the forecast period of 2022-2030.

Bioresorbable polymers are advanced technological materials that can be broken down and absorbed in the body fluids after performing the necessary actions, such as to release controlled drugs inside the body or to support an organ after surgery. These polymers don’t require any mechanical removal; however, they are removed from the body via excretion, dissolution, or assimilation via metabolic pathways.

Bioresorbable polymers, due to their high performance and biocompatibility, are widely used in the medical industry in applications such as: wound management, orthopedic devices, drug delivery, cardiovascular devices, and dental implants.

Growth Drivers:

Factors primarily driving the growth of this market include: the burgeoning usage of bioresorbable polymers for various applications in the medical industry; the growing number of surgical interventions; the surging demand for biocompatible medical devices; the rising demand and usage of bioresorbable polymers as capsules in the drug delivery application; and the escalating efforts by governments to upgrade their healthcare sector.

Materials left in the body post-surgery pose several health risks to patients and also require other minor surgery for their removal. On the other hand, bioresorbable polymers disintegrate into the body over time and, as a result, eliminate all the risks and threats as any second surgery for removing temporary implants is not required. This increase in patient comfort offered by bioresorbable polymers is expected to expand their market considerably in the forthcoming years.

Moreover, the advent of new and advanced technologies is expected to bring about tremendous growth opportunities for the global bioresorbable polymers market. One such development is the incorporation of 3D printing. Specific patients require specific treatments in different circumstances. The slight differentiations required in bioresorbable polymers are incorporated more reliably and efficiently with 3D printing.  Thus, the incorporation of 3D printing is expected to boost the growth of the overall bioresorbable polymers market in the next few years i.e., during the forecast period of 2022-2030.

Furthermore, other factors such as: the increasing production of environmentally friendly products to meet the regulatory standards set by various environment protection agencies; the soaring awareness among patients; the increasing disposable income of consumers in matured countries; and the existence of favorable reimbursement scenarios are expected to further augment the growth of the global bioresorbable polymers market during the forecast period.

However, factors such as the high cost of bioresorbable polymers as compared to conventional medical polymers, the increasing preference for minimally invasive surgeries, and the dearth of reliable quality control and skilled personnel for the effective use of medical products in emerging nations are expected to restrict the growth of the global

Bioresorbable Polymers Market Segmentation:

By Type:

·         Polylactic acid (PLA)

o   Poly (l-lactic) acid (PLLA)

o   -Poly-d,l-lactic acid (PDLLA)

·         Polyglycolic acid (PGA)

·         Poly(lactic-co-glycolic acid) (PLGA)

·         Polycaprolactone(PCL)

·         Others

By Application:

·         Orthopedic Devices

o   Trauma

o   Hip

o   Knee

o   Spine

o   Sports Injury

o   Others

·         Drug delivery

o   Parenteral

o   Oral

o   Others

·         Others

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Based on type, the polylactic acid (PLA) segment led the global bioresorbable polymers market in 2021. The segment is predicted to maintain its dominance further in the market during the forecast period of 2022-2030. However, the poly(lactic-co-glycolic acid) (PLGA) segment is anticipated to attain the highest CAGR in the market during the forecast period of 2022-2030.  The growing preference for PLGA type of polymers in drug delivery due to its biodegradability and biocompatibility is the major factor ascribed to the large share and growth of this segment.

Based on application, the orthopedic devices segment captured the largest share of the global bioresorbable polymers market in 2021, followed by the drug delivery segment. The segment is estimated to retain its lead further in the market during the forecast period. The high incidence of orthopedic disorders across the globe is the major reason behind the large share of this particular segment.

Regional Outlook:

The North American region acquired the largest share of the global bioresorbable polymers market in 2021, followed by Europe and the Asia Pacific. The region is likely to continue with its dominance further in the market through the forecast period. Factors including but not limited to: the rising demand for bioresorbable polymers; the presence of well-established market players; the escalating innovations for the development of novel biocompatible polymers with a broad range of physical and degradation characteristics; the high level of technological sophistication in the healthcare sector; and the surging R&D activities in the medical industry are predominantly driving the growth of the bioresorbable market in this region. The U.S. and Canada stand as the major contributors to the growth of the market in the region.

The European region accounted for the second-largest share of the global bioresorbable polymers market in 2021. The region is projected to retain its position further in the market during the forecast period on account of factors such as the ever-increasing geriatric population; the increasing volume of surgeries; the existence of advanced healthcare infrastructure; the high incidence of chronic diseases and neurological disorders; and the presence of marquee players in the region. France, Germany, Russia, the U.K., and Italy are the major contributors to the growth of the market in the region.

The Asia Pacific region held the third-largest share in the global bioresorbable polymers market in 2021. The region is poised to emerge as the fastest-growing regional market for bioresorbable polymers during the forecast period. The growth of the market in the region can be attributed to the proliferating demand for bioresorbable polymers in the expanding healthcare industries in emerging nations; the growing number of hospitals; the increasing number of supportive reimbursement policies; the rising investments in the healthcare industry; and the surging consumer awareness in the region. Additionally, the growing disposable income of people; and the rising geriatric population in the region are also significantly adding to the growth of the bioresorbable polymers market in the region. India and China are the leading contributors to the growth of the market in the region.

Key Companies in Bioresorbable Polymers Market:

·         Zeus Industrial Products Inc.

·         Seqens Group

·         REVA Medical LLC

·         Poly-Med Incorporated

·         Corbion N.V.

·         Evonik Industries AG

·         BMG Incorporated

·         Polysciences Inc.

·         Huizhou Foryou Medical Devices Co. Ltd.

·         Musashino Chemical Laboratory Ltd.

·         Henan Xinghan Biotechnology Co. Ltd.

·         Foster Corporation

·         DSM Biomedical Inc.

·         Ashland Global Holdings Inc.

·         Bezwada Biomedical LLC

·         Nomisma Healthcare Pvt. Ltd.

·         Other Players