Bioresorbable Polymers Market Size, by Application and Region - Orthopedic Devices to Dominate Bioresorbable Polymers Market
Tuesday, August 8, 2023
DUBLIN, July 31, 2023 /PRNewswire/ -- The "Bioresorbable Polymers Market - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
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The bioresorbable polymers market, estimated to be USD 417 million in 2022 is forecast to reach USD 688 million by 2027 at a CAGR of 10.5% during 2022-2027.
Major drivers of this market are the growing demand for these polymers in biocompatible medical devices and drug delivery applications. The upcoming technologies, such as the production of bioresorbable polymers through electrospinning and 3D printing, are significant growth opportunities for the market. However, its high selling price compared to conventional polymers and lack of quality control measures in developing countries restrict the market's growth. The upcoming advanced processing methods help manufacture bioresorbable polymers with better qualities and improved strength.
Polycaprolactone (PCL) is estimated to be the third-largest type in the bioresorbable polymers market in 2021, in terms of value
Polycaprolactone is commonly obtained by reacting caprolactone in the presence of metal alkoxides. It is used in the biomedicine domain for controlled drug release applications. The consumption of polycaprolactone decreased in the past few years due to some toxicity issues. But resorbable polymer manufacturers have come up with less toxic PCL-based resorbable polymers. Drug delivery, tissue engineering, and orthopedic devices are the major applications of PLC-based bioresorbable polymers.
The other application segment of bioresorbable polymers includes tissue regeneration, dental devices, cardiovascular devices, sutures, and wound management systems. Companies are using bioresorbable polymers in these applications. The increasing incidence of dental disease, growing demand for tooth repair procedures, growth in the geriatric population, and the increasing number of dental practitioners, clinics, and laboratories are driving the growth of the other applications market.
APAC is projected to be the fastest-growing bioresorbable polymers market during the forecast period, in terms of value
Owing to the favorable government initiatives and improved access to healthcare, the availability of inpatient and outpatient care for chronic diseases and the overall number of surgical procedures has increased in APAC. Additionally, the government offered tax subsidies for FDI by several countries has created a favorable environment for market players to expand their services and ensure further growth in this emerging market.
The report provides insights on the following:
-- Market Penetration: Comprehensive information on bioresorbable polymers
offered by top players in the global bioresorbable polymers market
-- Product Development/Innovation: Detailed insights on upcoming
technologies, research & development activities in the bioresorbable
polymers market
-- Market Development: Comprehensive information about lucrative emerging
markets - the report analyzes the markets for bioresorbable polymers
across regions
-- Market Diversification: Exhaustive information about new products,
untapped regions, and recent developments in the global bioresorbable
polymers market
-- Competitive Assessment: In-depth assessment of market shares,
strategies, products, and manufacturing capabilities of leading players
in the bioresorbable polymers market
Key Topics Covered:
Executive Summary
-- PLA to be Largest Type of Bioresorbable Polymer During Forecast Period
-- Drug Delivery to be Fastest-Growing Application of Bioresorbable
Polymers During Forecast Period
-- North America Accounted for Largest Share of Bioresorbable Polymers
Market in 2021
Premium Insights
-- Significant Opportunities for Players in Bioresorbable Polymers Market -
High Growth Expected in Emerging Economies During Forecast Period
-- Bioresorbable Polymers Market Size, by Region - North America to be
Largest Bioresorbable Polymers Market During Forecast Period
-- North America: Bioresorbable Polymers Market, by Type and Country - US
Accounted for Largest Share of Market in North America
-- Bioresorbable Polymers Market Size, by Application and Region -
Orthopedic Devices to Dominate Bioresorbable Polymers Market
-- Bioresorbable Polymers Market Attractiveness - India to be
Fastest-Growing Bioresorbable Polymers Market During Forecast Period
Market Dynamics
-- Drivers
-- Increasing Number of Surgical Interventions
-- Growing Demand in Biocompatible Medical Devices
-- Growing Demand in Drug Delivery Application
-- Favorable Reimbursement Scenario
-- Restraints
-- Increasing Preference for Minimally Invasive Surgeries
-- Higher Cost of Bioresorbable Polymers Than That of Conventional
Polymers
-- Lack of Quality Control Measures in Emerging Economies
-- Opportunities
-- Electrospinning and 3D Printing Technologies
-- Challenges
-- Stringent Regulatory Framework for Medical Devices
-- Requirement of Skilled Personnel for Effective Use of Bioresorbable
Medical Products
Case Studies
-- Case Study on Resomer Bioresorbable Polymer Used in Breast Implant
Technology
-- Case Study on Expansorb Pla Orthopedic Screws
Company Profiles
-- Ashland Global Holdings Inc.
-- Bezwada Biomedical, LLC
-- Bmg Incorporated
-- Corbion N.V.
-- Dsm Biomedical, Inc.
-- Evonik Industries Ag
-- Foster Corporation
-- Henan Xinghan Biotechnology Co. Ltd.
-- Huizhou Foryou Medical Devices Co. Ltd.
-- Kls Martin Group
-- Musashino Chemical Laboratory, Ltd.
-- Nomisma Healthcare Pvt. Ltd
-- Poly-Med Incorporated.
-- Polysciences, Inc.
-- Reva Medical, LLC
-- Seqens Group
-- Zeus Industrial Products, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/7ha4jt
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