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Bioresorbable Medical Material Global Market Size, Share Report, Growth, Analysis, Key Players, Revenue, Future Trends, Forecast 2033 | The Business Research Company
Bioresorbable Medical Material Global Market
The Business Research Company presents an extensive market research report on the Bioresorbable Medical Material Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The bioresorbable medical material market size has grown rapidly in recent years. It will grow from $1.4 billion in 2023 to $1.55 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to traditional non-resorbable materials limitations, advancements in polymer science, surge in cardiovascular interventions, growing aging population, expansion of minimally invasive surgeries.
The bioresorbable medical material market size is expected to see strong growth in the next few years. It will grow to $2.24 billion in 2028 at a compound annual growth rate (CAGR) of 9.7%. The growth in the forecast period can be attributed to increasing demand for bioresorbable scaffolds, adoption of bioresorbable materials in various medical applications, rise in cardiovascular and orthopedic procedures, growing focus on patient comfort and recovery, expanding applications in tissue engineering. Major trends in the forecast period include customization of bioresorbable materials for specific medical applications, integration of bioresorbable materials in drug delivery systems, growth of 3d printing in bioresorbable medical device manufacturing, development of combination products with bioresorbable elements, emphasis on sustainable and environmentally friendly medical materials,.
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Key Market Players:
Major companies operating in the bioresorbable medical material market report 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., TotalEnergies Corbion B.V.
Market Drivers:
The increasing number of surgeries is expected to propel the growth of the bioresorbable medical material market going forward. 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. For instance, in 2022, according to the British Heart Foundation, a UK-based cardiovascular research charity. states that in UK surgical procedures, transcatheter aortic valve replacement (TAVR) or transcatheter aortic valve implantation (TAVI) surgeries, increased from 5,676 in 2019/20 to 6,328 in 2020/21. Therefore, the increasing number of surgeries is driving the growth of the bioresorbable medical material market.
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The bioresorbable medical material market covered in this report is segmented -
1) By Type: Polylactic Acid (PLA), Polyglycolic Acid (PGA), Polysaccharides, Polycaprolactone (PCL), Poly Lactic-Co-Glycolic Acid (PLGA)
2) By Application: Drug Delivery, Orthopedics, Other Applications
3) By End-User: Hospitals And Clinics, Ambulatory Surgical Centers, Research Institutes, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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