The bioresorbable polymers market achieved a valuation of US$ 1.3 Billion in 2021 and is anticipated to expand to US$ 6.2 Billion by 2032, exhibiting a robust Compound Annual Growth Rate (CAGR) of 15.8% over the forecast period spanning from 2022 to 2032.

The bioresorbable polymers market has witnessed substantial growth in recent years, driven by advancements in medical technology, increasing demand for biocompatible materials, and a growing focus on sustainable and eco-friendly solutions. Bioresorbable polymers, also known as biodegradable or absorbable polymers, are materials that can be naturally broken down and absorbed by the body over time. These polymers have found diverse applications, particularly in the medical and pharmaceutical sectors.

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Market Dynamics

The bioresorbable polymers market is propelled by the rising prevalence of chronic diseases, such as cardiovascular disorders and orthopedic injuries, necessitating the use of implants for treatment. Additionally, the expanding geriatric population, coupled with the growing preference for biocompatible materials, further fuels market growth. Technological innovations in polymer chemistry and processing techniques have enabled the development of bioresorbable materials with enhanced mechanical properties and tailored degradation profiles, widening their application scope across various medical specialties.

Market Future Outlook

The future outlook for the bioresorbable polymers market is promising, with continuous research and development efforts aimed at addressing existing challenges and exploring new opportunities. The demand for bioresorbable polymers is expected to escalate with the increasing adoption of minimally invasive surgical procedures and the rising focus on personalized medicine. Moreover, regulatory support for biodegradable materials and initiatives promoting environmental sustainability are anticipated to drive market expansion in the coming years.

Market Insights

Key insights into the bioresorbable polymers market include the dominance of polyglycolic acid (PGA), polylactic acid (PLA), and their copolymers due to their biocompatibility and tunable degradation kinetics. Orthopedic applications, such as suture anchors and fixation devices, represent a significant revenue-generating segment within the market, followed by cardiovascular implants and drug delivery systems. North America holds the largest market share attributed to the presence of leading medical device manufacturers and favorable reimbursement policies, while the Asia-Pacific region exhibits rapid growth potential driven by improving healthcare infrastructure and rising disposable incomes.

Key Players:

• Corbion N V
• Evonik Industries AG
• Poly-Med, Inc.
• KLS Martin Group
• Foster Corporation
• Ashland Global Holdings Inc.
• DSM Biomedical, Inc
• Zeus Industrial Products, Inc
• REVA Medical, LLC.
• Poly-Med Incorporated
• Bezwada Biomedical
• Nomisma Healthcare Pvt. Ltd.

Competitive Landscape:

In March 2021, Ashland Global Holdings Inc. undertook an expansion of its production plant for Viatel bioresorbable polymer and relocated its research and development (R&D) activities from Dublin to the National Science Park in Mullingar.

In September 2020, Corbion and Total jointly announced their intentions to establish a state-of-the-art polylactic acid bioplastics plant in Europe. This facility, which will be the first of its kind on a global scale in Europe, is projected to have a production capacity of 100 thousand tonnes per year. The new plant is scheduled to commence operations in 2024 and will be situated in France. This strategic investment in polylactic acid will expedite plans to augment lactic acid production and effectively address the growing demand for polymers.

Market Segmentation

• By Product Type :
  • Biopolyesters
  • Agro-polymers
• By Application :
  • Orthopedics
  • Drug Delivery
  • Other Applications
• By Region :
  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

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