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Bioresorbable Medical Material Market 2023-2032: Future Outlook, Competitive Landscape, Global Trends And Major Players | Johnson & Johnson, Abbott Laboratories, Medtronic PLC, Kureha Corporation, Evonik Industries AG
Bioresorbable Medical Material Market
The Business Research Company's Bioresorbable Medical Material Global Market Report 2023 identifies increasing number of surgeries as the major driver for the Bioresorbable Medical Material Market's growth in the forecast period. Surgical procedures refer to medical treatment that involves making an incision and using tools to stop or repair disease in a living body. Bioresorbable polymers are used in molded medical equipment, particularly those used in neurology, orthopedics, and cosmetic surgery. Bioresorbable materials can be used to make sutures, anchors, and screws.
The global bioresorbable medical material market is expected to grow from $1.26 billion in 2022 to $1.4 billion in 2023 at a compound annual growth rate (CAGR) of 11.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global bioresorbable medical material is expected to reach $2.04 billion in 2027 at a CAGR of 9.9%.
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Major competitors in the bioresorbable medical material market are Johnson & Johnson, Abbott Laboratories, Medtronic PLC, Kureha Corporation, Evonik Industries AG, Stryker Corporation, Toray Industries Inc., Mitsui Chemicals Inc., Arkema S.A., Royal DSM N.V., Zimmer Biomet Holdings Inc., COFCO Biotechnology Co. Ltd., Ashland Global Holdings Inc., Corbion N.V., Zeus Industrial Products Inc., Unitika Ltd., Danimer Scientific, Synbra Technology, KLS Martin Group, Durect Corporation, Putnam Plastics Corporation, Zhejiang Haizheng Biomaterials Co. Ltd., Shenzhen eSUN Industrial Co. Ltd., NatureWorks LLC, Foster Corporation, Poly-Med Inc., Futerro S.A., and TotalEnergies Corbion B.V.
A key trend in the Bioresorbable Medical Material Market includes introduction of novel biomaterials. Major companies operating in the bioresorbable medical material market are focused on developing novel biomaterials for 3D printing applications to sustain their position in the market. For instance, in February 2020, Evonik Industries AG, a Germany-based specialty chemicals company specializing in bioresorbable materials, introduced RESOMER PrintPowder, the bioresorbable material in powder form suited for high-resolution 3D printing of implanted medical devices using selective laser sintering (SLS) machinery. This innovative product is a finely tuned, free-flowing powder with stringent specifications and an optimized particle size distribution. The exceptional flow properties of RESOMER PrintPowder enable medical device companies to leverage SLS 3D printing technologies to fabricate intricate bioresorbable implants with precisely customized mechanical characteristics.
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The Bioresorbable Medical Material Market is segmented -
By Type: Polylactic Acid (PLA), Polyglycolic Acid (PGA), Polysaccharides, Polycaprolactone (PCL), Poly Lactic-Co-Glycolic Acid (PLGA)
By Application: Drug Delivery, Orthopedics, Other Applications
By End-User: Hospitals And Clinics, Ambulatory Surgical Centers, Research Institutes, Other End-Users
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Bioresorbable Medical Material Market.
The Business Research Company's "Global Bioresorbable Medical Material Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Bioresorbable Medical Material Market Include:
1. Executive Summary
2. Bioresorbable Medical Material Market Characteristics
3. Bioresorbable Medical Material Market Trends And Strategies
4. Bioresorbable Medical Material Market - Macro Economic Scenario
5. Bioresorbable Medical Material Market Segmentation
……
32. Global Bioresorbable Medical Material Market Competitive Benchmarking
33. Global Bioresorbable Medical Material Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bioresorbable Medical Material Market
35. Bioresorbable Medical Material Market Future Outlook and Potential Analysis
36. Appendix
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