Global Bioresorbable Polymers Market
- POSTED ON Wednesday, April 7, 2021
Global Bioresorbable Polymers Market was valued at US$ 680.91 Mn in 2019 and is expected to reach US$ 1810.16 Mn by 2026, at a CAGR of 13% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.Global Bioresorbable Polymers Market
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The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding bioresorbable polymers market dynamics, structure by identifying and analyzing the market segments and project the global market size.
Further, the report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders prioritizing the efforts and investment in the near future to emerging segments in the bioresorbable polymers market.
Bioresorbable polymers is an innovative technological material that can be broken down by the body and does not require mechanical removal, like sutures or the chlorhexidine chip. Bioresorbable materials have applications in a wider range of medical indications, like sutures, tissue fixation screws, bone pins & anchors, coronary & peripheral vascular scaffolds, drug delivery coatings as well as microspheres, and surgical meshes & matrices. The materials in this class include polymers, metals, ceramics, glasses, and materials of biological origin such as natural collagen, which may allow for drug elution and delivery as well as performing a mechanical type.
The major issue fostering the global bioresorbable market is the increase in patient comfort. Throughout surgery, there were conventional materials left in the body which after some time are supposed to be removed by performing another minor surgery, this, in turn, led to health problems in the patients. This issue is resolved by bioresorbable polymers as they disintegrate into the body after some period of time.
Drug delivery manufacturing has a great demand for bioresorbable polymers which is driving the market in a positive approach. As bioresorbable polymers are chemically neutral in nature and harmless to the body, this makes them perfect for drug delivery. One key factor is anticipating market growth in the incorporation of 3D printing. The restraint for the market growth is the more amount of cost due to the technological sophistication.
Based on type, Biopolyesters hold the largest share of the bioresorbable polymers market during the forecast period. Polylactic-acid-based bioresorbable polymers dominated the demand from the global market in the foreseen period. Polylactic acid gets transformed into lactic acid in the body, which naturally occurs in the body at low concentrations and can be safely removed by the body’s own excretory systems. Polyglycolic acid is another widely used bioresorbable polymer and is mostly used in sutures.
In terms of application, Drug delivery applications boost the bioresorbable polymers market during the forecast period. The primary applications comprise drug delivery and orthopedics in the medical sector. Orthopedics application emerged as the largest application segment while accounting for over 44% of the total revenue in 2017, due to its high demand in the trauma and knee sub-applications.
Geographically, North America dominated the largest global industry due to the high level of technological sophistication in the healthcare sector. The bio-polyesters demand in North America holds the maximum share, due to its improved resistance to weather and better quality that makes it suitable for use in several fields in the medical sector.
The regional market is expected to grow at a CAGR of 13% over the forecast period in terms of value. APAC is projected to be the fastest-growing market, in terms of both value and volume. The growing product demand in orthopedics and drug delivery applications and the rising healthcare investment are projected to promote the bioresorbable polymers market growth in the region.Scope of the Global Bioresorbable Polymers Market: Inquire before buying
Global Bioresorbable Polymers MarketKey Players in the Global Bioresorbable Polymers Market:
• Corbion NV• Evonik Industries AG• Foster Corporation• KLS Martin Group• Poly-Med Inc.• DURECT Corporation• PCAS Group• Merck KGaA• Royal DSM NV.• Ashland• Sigma-Aldrich• Mar-Lee Companies• LACTEL Absorbable Polymers• Galatea Surgical• KAO Corporation
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