Rockville, Dec. 22, 2022 (GLOBE NEWSWIRE) -- The Bioresorable Polymers revenues were estimated at US$ 1.3 Bn in 2021 and is anticipated to grow at a CAGR of 15.8% from 2022-2032, according to a recently published Fact.MR report. By the end of 2032, the market is expected to reach a valuation of US$ 6.2 Billion. Increased surgical procedures, rising demand for drug delivery applications, and the use of biocompatible medical equipment were the prominent revenue-generating factors that had an impact on the bioresorbable polymers market.
The value of biopolyesters increased at a CAGR of roughly 12.5% between 2017 and 2021. Bioployesters provide significant benefits that are promoting the market for bioresorbable polymers. The majority of biopolyesters are biodegradable and biocompatible, have significant strength, and may be formed into films or other objects for use in industrial packaging or biocompatible/bioabsorbable medical devices. Biopolyesters are created from renewable sources.
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As per the Global Bioresorbable Polymers Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Bioresorbable Polymers Market increased at around 12.4% CAGR. The key revenue drivers, which affected the Bioresorbable Polymers Market, are an increase in surgical interventions, growing demand for drug delivery applications, and biocompatible medical devices.
A polymer called biopolyesters is used in the field of surgery for implants used in bone anastomosis. Because they are simple to mold into implants and have outstanding biocompatibility, biopolyesters are very popular. Consequently, this is increasing the demand for biopolyesters.
Key Takeaways from the Study
- Bioresorable Polymers market was valued at US$ 1.3 Bn in 2021. According to Fact.MR, Bioresorable Polymers revenue would increase 4.1X between 2022 and 2032, reaching roughly US$ 6.2 Bn in 2032.
- In terms of Product Type, Biopolyesters is projected to account for the highest projected CAGR of over 16.5%.
- In terms of application, revenue through Orthopedics accounted for the highest CAGR of 13.2% during 2017-21.
- US is the dominant country in Bioresorable Polymers market with an expected absolute dollar growth opportunity of over US$ 1.7 Bn.
Competitive Landscape
Some of the key players in bioresorbable polymers market are Corbion NV, Evonik Industries AG, Poly-Med, Inc., KLS Martin Group, Foster Corporation, Ashland Global Holdings Inc., DSM Biomedical, Inc, Zeus Industrial Products, Inc, REVA Medical, LLC., Poly-Med Incorporated, Bezwada Biomedical, and Nomisma Healthcare Pvt. Ltd.
Some of the recent developments of key Bioresorbable Polymers providers are as follows:
- In March 2021, Ashland Global Holdings Inc. expanded the production plant for its Viatel bioresorbable polymer and relocated its research and development (R&D) activities from Dublin to Mullingar's National Science Park.
- In September 2020, Corbion and Total announced plans to develop a new polylactic acid bioplastics plant in Europe. The plant, which will be Europe’s first global-scale Polylactic acid production facility, is estimated to have a capacity of 100 thousand tonnes per year. The new factory is scheduled to open in 2024 and will be located in France. This additional polylactic acid investment will hasten plans to increase lactic acid production and meet the increasing demand for polymers.
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Key Companies Covered
- Corbion N V
- Evonik Industries AG
- Poly-Med, Inc.
- KLS Martin Group
- Foster Corporation
- Ashland Global Holdings Inc.
- DSM Biomedical, Inc
- Zeus Industrial Products, Inc
- REVA Medical, LLC.
- Poly-Med Incorporated
- Bezwada Biomedical
- Nomisma Healthcare Pvt. Ltd.
Bioresorbable Polymers Market : Segmentation
- By Product Type :
- Biopolyesters
- Agro-polymers
- By Application :
- Orthopedics
- Drug Delivery
- Other Applications
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Bioresorable Polymers Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Bioresorable Polymers in terms of by Product Type (Biopolyesters, Agro-polymers), Application (Orthopedics, Drug Delivery, Other Applications) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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