Bioresorbable Polymers Market Growth Trends Regional Analysis Segmentation Application Restraints Key Players Profile Forecast by 2027

The Bioresorbable Polymers Market is witnessing robust growth, driven by increasing demand in medical applications such as drug delivery and orthopedics. Rising healthcare investments, advancements in bioresorbable materials, and regulatory support are expected to propel market expansion globally.
The bioresorbable polymers market size is estimated to be USD 417 million in 2022 and is projected to reach USD 688 million by 2027 at a CAGR of 10.5% during the forecast period. This latest market research report offers a wealth of valuable insights and data, including global bioresorbable polymers market size [https://www.marketsandmarkets.com/Market-Reports/bioresorbable-polymer-market-235258717.html], regional shares, and competitor market share. The major drivers in this bioresorbable market are the growing demand for biocompatible medical devices, increasing surgical interventions, growing demand in drug delivery applications, and favorable reimbursement scenarios. The high cost of bioresorbable polymers compared to conventional polymers, lack of quality control in developing countries, and preference for minimally invasive surgeries are the major restraints for bioresorbable polymers. A significant opportunity in the resorbable polymers market is increasing the production of environmentally friendly products to meet the regulatory standards set by various environmental protection agencies. A stringent regulatory framework for medical devices and skilled personnel for the effective use of bioresorbable medical products remains a significant challenge in this market.

Resorbable or bioresorbable polymers find application as medical implants in the body. Once the mission, such as supporting an organ, surgical sutures, or controlled drug release, is performed, the body absorbs these polymers. The growing demand for patient-friendly drugs, which do not cause ill health and are quickly resorbed inside the body, is increasing the demand for resorbable polymer. 20 to 50 million more people suffer from non-fatal injuries with many occurring disabilities requiring surgical intervention.

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In terms of value, PLA continues to be the largest type segment in 2021. Orthopedic devices is the largest application segment of the bioresorbable polymers market. In terms of value, North America was the largest market for bioresorbable polymers in 2021. The threat of substitutes is moderate in the bioresorbable polymers market, as no other polymers can deliver the same performance characteristics as that of bioresorbable polymers. The threat of new entrants is low in the market, as this market is relatively capital-intensive and requires a skillful workforce.

The key market players profiled in the report include Corbion N.V. (The Netherlands), Evonik Industries 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).

Ashland Global Holdings Inc. is a global leader in specialty materials, with a broad portfolio in food & beverage, nutraceuticals, personal care & pharmaceutical, adhesives, architectural coatings, construction, and energy sectors. The company has 18 manufacturing and lab facilities in five countries and serves more than 100 countries. It distributes directly and through third-party distributors in regions such as North America, Europe, APAC, and the Middle East & Africa. The company focuses on innovation and developing new chemistries to resolve challenging problems in the medical sector. It works with integrity and respect for its customers, suppliers, and employees. The company provides an encouraging business environment and is open to new and innovative ideas

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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. DSM Biomedical, Inc. is one of the world's leading medical device development & manufacturing companies. It has a strong foothold in Europe, APAC, and North America. The company is investing in innovation and technology to provide customers with innovative solutions and is adopting new technologies. It covers various applications in the healthcare & hospital industry and has a robust global distribution network.

"PGLA is estimated to be the fastest-growing type in the bioresorbable polymers market for the forecast period."

PLGA is the fastest-growing type of bioresorbable polymers and is expected to register a CAGR of 11.05%, in terms of value, during the forecast period. The high growth rate of PLGA-based bioresorbable polymers is mainly due to favorable reimbursement options, increasing awareness about novel medical devices, and the implementation of favorable government initiatives. According to an NCBI study, chronic diseases affect around 50% of the US population annually. It also estimated that chronic diseases accounted for ~86% of all healthcare costs in the US.

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"Drug delivery was the second major application for the bioresorbable polymers market in 2021 in the global market"

The bioresorbable polymers market size for drug delivery applications accounted for the second-largest share of global bioresorbable polymers, in terms of value, in 2021. Bioresorbable polymers are used in the making of implantable matrices for controlled drug release inside the body. As the elderly are more susceptible to chronic disorders and diseases than other age groups, growth in this population segment will serve to increase patient volumes and, in turn, drive the demand for drugs and delivery technologies.

"North America is estimated to be the largest region in bioresorbable polymers market in 2020."

North America was the largest bioresorbable polymers market, in terms of value, in 2021. Globally, it has been leading the market in demand and product innovation in terms of quality and application development. The growing demand backs the growth of the bioresorbable polymers market in the region for these polymers in the medical industry. Intense competition among major players in the market has led to price stabilization in the past few years.

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