Bioresorbable Medical Material Market Growth & Competitive Outlook 2024-2033

The Business Research Company recently released a comprehensive report on the Global Bioresorbable Medical Material Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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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Market Drivers and Trends:

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.

The introduction of novel biomaterials is a key trend gaining popularity in the bioresorbable medical material market. 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 June 2021, Evonik Industries AG, a Germany-based specialty chemicals company specializing in bioresorbable materials, developed has developed a new 3D-printable PEEK biomaterial for medical technology. With VESTAKEEP Care M40 3DF, the specialty chemicals company launched a polyether ether filament for medical applications with body contact for up to 30 days. The high-performance polymer can be processed in common extrusion-based 3D printing technologies such as fused filament fabrication (FFF) or fused deposition modeling (FDM). With the product launch, Evonik is expanding the possibilities for individual treatment of patients using additive manufacturing.

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Major Key Players of the Market:

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.

Bioresorbable Medical Material Market 2024 Key Insights:

• 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%.
• Increasing Number Of Surgeries Propels The Bioresorbable Medical Material Market
• Breakthrough In Bioresorbable 3D Printing Reshapes The Medical Material Landscape
• North America was the largest region in the bioresorbable medical material market in 2023

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