Bioresorbable Polymers Market | Key players operating in the market include Corbion N.V., EvonikIndustries AG, Foster Corp, KLS Martin Group, DSM Biomedical

According to recent market research "Bioresorbable Polymers Market by Type(Polylactic Acid (PLA), Polyglycolic Acid (PGA), Poly(lactic-co-glycolic Acid) (PLGA), Polycaprolactone(PCL)), Application (Orthopedic Devices, Drug Delivery), and Region - Global Forecast to 2026", is projected to reach USD 1.6 billion by 2026, at a CAGR of 10.0% from USD 1.0 billion in 2021.

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Bioresorbable polymers are materials that are absorbed in the body after performing the desired action such as to support an organ after surgery or to release controlled drugs inside the body. These polymers work on the concept of bioresorption, which means the complete elimination of the products without any side effects. Though the polymers have been known for a long time, it was not widely used due of its tendency to degrade in stable environmental conditions. Eventually, it was realized that its degradation is an advantage in designing bioresorbable implants and medicines. Bioresorbable polymers are of various types such as polylactic acid (poly (l-lactic) acid polymers, poly-d,l-lactic acid polymers), polyglycolic acid, poly(lactic-co-glycolic acid), polycaprolactone, and homopolyesters. These polymers are extensively used in the medical industry, in applications such as orthopedic devices, cardiovascular devices, drug delivery, dental implants, and wound management. polylactic acid had a larger share in terms of value in 2020 as compared to other counterparts.

Orthopedic devices is the largest application segment of the bioresorbable polymers market. North America was the largest market for bioresorbable polymers in 2020, in terms of value. Factors such as to increasing number of surgical interventions, growing demand for biocompatible medical devices, growing demand in the drug delivery application and favorable reimbursement scenario are the major drivers in this bioresorbable polymers market.

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The bioresorbable polymers market size is estimated to be USD 1.0 billion in 2021 and is expected to reach USD 1.6 billion by 2026, at a CAGR of 10.0% during the forecast period. Factors such as to increasing number of surgical interventions, growing demand for biocompatible medical devices, growing demand in the drug delivery application and favorable reimbursement scenario are the major drivers in this bioresorbable market. Cost of bioresorbable polymers as compared to conventional polymers , preference of minimal invasive surgeries and lack of quality control in developing countries are the major restraints for the bioresorbable polymers. A major opportunity in the resorbable polymers market is increasing the production of environmentally friendly products to meet the regulatory standards set by various environment protection agencies. Stringent regulatory framework for medical devices and skilled personnel for the effective use of bioresorbable medical products remains the major challenges of this market.

The key market players profiled in the report include Corbion N.V. (The Netherlands), EvonikIndustries AG(Germany), Foster Corporation (US), KLS Martin Group (Germany), DSM Biomedical (US), Inc, Ashland Global Holdings Inc. (US), Zeus Industrial Products(US), Inc, Seqens Group (France), REVA Medical, LLC (US), Poly-Med Incorporated (US), Bezwada Biomedical, LLC (US), Nomisma Healthcare Pvt. Ltd. (India), BMG Incorporated (Japan), Polysciences, Inc. (US), Huizhou Foryou Medical Devices Co., Ltd. (China), Musashino Chemical Laboratory, Ltd. (Japan), and Henan Xinghan Biotechnology Co. Ltd.(China).

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Ashland Global Holdings Inc. is a global leader in specialty materials with wide portfolio in food and beverage, nutraceuticals, personal care and pharmaceutical, adhesives, architectural coatings, construction, energy. In 2020, Ashland has realigned its segment reporting structure. There are three segments, namely, Consumer Specialty Businesses (includes Life Sciences and Personal Care & Household), Industrial Specialty Businesses (includes Specialty Additives and Performance Adhesives) and Intermediates and Solvents. The company offers bioresorbable polymers through the Consumer Specialty Businesses under the Life Science subsegment. It offers five families of bioresorbable polymers under the brand name of Viatel. These polymers are used for drug delivery and medical devices. The company has 18 manufacturing and lab facilities in five countries and serves in more than 100 countries. It distributes directly as well as through third party distributors in regions such as North America, Europe, APAC and Middle East & Africa.

In January 2018, Ashland had acquired Vornia Limited, a manufacturer of bioresorbable polymers, for USD 12 million. Vornia Limited manufactures microscale polylactic-co-glycolic acid (PLGA) copolymers formulated in a host of injectable excipients used for the treatment of cancer, diabetes and a wide range of autoimmune diseases.

DSM Biomedical, Inc. is a subsidiary of Royal DSM. In June 2012, Royal DSM had acquired Kensey Nash Corporation, to strengthen its biomedical business. DSM Biomedical is one of the major manufacturers of polymers for medical implants. It offers a wide portfolio for bioabsorbable polymers, ceramic combinations and composites. These materials are engineered to meet multiple medical applications. The bioresorbable polymers is used for orthopedic devices, drug delivery, dental, wound management, and cardiovascular devices. The company has a strong presence in North America, Europe and APAC region.

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