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At 7.5% CAGR, Biodegradable Bone Graft Polymers Market to Cross $690 Million by 2024: Corbion N.V., Evonik, PolySciences Inc, KLS Martin, Foster Corporation
Biodegradable Bone Graft Polymers Market
North America will have the largest share of the global biodegradable bone graft polymers market by 2024. Rise in old age population, continuous R&D efforts, innovations in implant design and availability of advanced medical devices, rise in accident and trauma cases will fuel the North American biodegradable bone graft polymers market.
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Biodegradable Bone Graft Polymers Market size will exceed USD 690 million by 2024. Rising population, improved healthcare facilities in developing economies, shift from traditional surgical methods to advanced methods, rise in R&D activities in biodegradable polymers segment for bone graft and rise in bone disorders will primarily drive the biodegradable bone graft polymers market till 2024.
Rise in demand from joint reconstruction (hip, knee and extremities) and spine application along with slow but steady demand from dental application will significantly drive the demand over the forecast period. Low cost medium volume materials such as collagen and chitosan have been researched widely in the medical industry as they have distinctive properties such as biocompatibility, biodegradability and osteo conductive properties which find applications in dental and ortho biologics applications.
Spinal fusion is an important and fast-growing application especially in North America because of higher percentage of old population. Moreover synthetic and natural polymers such as PLA, PG, PC, chitosan and collagen can undergo various manufacturing process and can be easily molded which itself presents a huge opportunity for 3D printing in near future. As compared to other surgical procedures, biodegradable polymer grafts do not require second surgical event for removal purpose and hence find potential in the competitive market.
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Increasing R&D activities for improved materials, use of co polymers, high cost of polymers and use of traditional surgical methods in developing nations will show some adverse impact on the biodegradable bone graft polymers market that will restraints its full growth to some extent over the projected years.
Joint reconstruction which consists of knee, hip and extremities a significant market share in 2016 because of rise in surgical procedures owing to aging population in North America and Europe. Improved healthcare facilities, advanced surgical procedures and rise in innovative copolymeric materials will boost the demand of different natural and synthetic biodegradable polymers for bone graft purpose.
Spinal fusion is one the fastest growing application for biodegradable polymers particularly because of rise in degenerative disc diseases. Poly lactic acid copolymers such as (poly-L-lactide) PLLA, (poly-D-lactide) PDLA, PDLLA are widely used in spine fusion applications as they provide excellent mechanical strength and are biocompatible. Increase in trauma cases globally is fueling the poly lactic acid market for spinal fusion.
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Vital operating players in global biodegradable bone graft polymers market are Corbion N.V., Evonik, PolySciences Inc, KLS Martin, Foster Corporation among others.
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