Wilmington, Delaware, July 09, 2024 (GLOBE NEWSWIRE) -- Bioresorbable polymers, also known as biodegradable polymers, represent a significant advancement in the field of medical materials. These polymers are designed to degrade over time within the human body, eliminating the need for surgical removal and reducing long-term complications. They are being widely used across medical devices sector such as implants, drug delivery systems, sutures, and tissue engineering scaffolds. The global bioresorbable polymers market has been witnessing robust growth, driven by increasing demand for advanced medical treatments and the growing preference for minimally invasive surgeries. For instance, according to World Health Organization (WHO) over 300 million surgical procedures are performed each year worldwide.
Global Bioresorbable Polymers Market: Key Datapoints
| Market Value in 2023 | US$ 1.7 Bn |
| Market Value Forecast by 2034 | US$ 7.3 Bn |
| Growth Rate | 14.2% |
| Historical Data | 2016 – 2022 |
| Base Year | 2023 |
| Forecast Data | 2024 - 2034 |
Bioresorbable polymers are favored over traditional materials due to their biocompatibility and ability to degrade harmlessly in the body. This drives their adoption in surgical sutures, orthopedic implants, and drug delivery systems. Ongoing research and development efforts are enhancing the properties of bioresorbable polymers, making them more durable, flexible, and suitable for a wider range of medical applications. Stringent regulatory standards encouraging the use of biocompatible and environmentally friendly materials in healthcare further bolster market growth. Globally, healthcare expenditure is on the rise, particularly in developed regions, leading to higher investments in advanced medical technologies utilizing bioresorbable polymers.
Manufacturers are increasingly focusing on developing polymer blends to enhance the mechanical and degradation properties of bioresorbable polymers. Growing research in tissue engineering and 3D printing is expanding the application scope of bioresorbable polymers beyond traditional medical devices. The Asia-Pacific region is poised for significant growth, driven by increasing healthcare infrastructure development and rising healthcare spending.
Opportunities abound in developing innovative polymer compositions and manufacturing techniques to address specific medical needs and improve product performance. Emerging markets in developing economies are expected to offer lucrative opportunities for market players to further expand their geographical presence. Strategic collaborations between research institutions, healthcare providers, and manufacturers can accelerate product development and market penetration. For instance, in May 2022, UBQ Materials, an Israeli company, collaborated with Polymertal, a specialist in polymer metallization, to develop a lightweight and sustainable material capable of supporting complex assemblies with metallic functionalities.
During the COVID-19 pandemic, initial disruptions in the supply chain and manufacturing processes were observed, the healthcare industry's increased focus on developing advanced medical solutions, including bioresorbable polymers, has provided opportunities for market growth. The pandemic underscored the importance of resilient healthcare systems and accelerated the adoption of innovative medical technologies.
In conclusion, the bioresorbable polymers market is poised for substantial growth driven by technological advancements, increasing healthcare expenditure, and expanding applications across the medical field. Strategic investments in research and development, coupled with regulatory support and collaborations, will be crucial in harnessing emerging opportunities and sustaining market growth in the coming years.
Key Takeaways of the Report:
- Natural segment by origin is expected to grow at a CAGR of 6.6% in the bioresorbable polymers market due to increasing consumer preference for eco-friendly and biocompatible materials in medical applications. Natural bioresorbable polymers, derived from renewable sources like starch, cellulose, and proteins, offer enhanced biodegradability and reduced environmental impact compared to synthetic counterparts. This trend is driven by regulatory encouragement and heightened awareness of sustainability among healthcare providers and patients alike.
- Polylactic acid (PLA) leads the bioresorbable polymers market with a significant revenue share of 30.7% owing to its biocompatibility, versatility, and environmentally friendly properties. PLA is derived from renewable resources such as corn starch or sugarcane, making it a preferred choice in medical applications. Its ability to degrade into non-toxic byproducts within the body, coupled with increasing research and development in PLA-based formulations, drives its dominance in the market.
- Agriculture segment by application in the bioresorbable polymers market is anticipated to be the second largest with a revenue share of 25.5% in 2023 due to increasing adoption of biodegradable polymers in agricultural applications. These polymers are utilized for mulching films, plant pots, and crop protection materials, offering advantages such as reduced environmental impact and improved soil health. Growing awareness among farmers regarding sustainable farming practices and regulatory support for eco-friendly agricultural solutions further bolster the segment's growth prospects.
- In 2023, Asia Pacific is anticipated as second leading region in the global bioresorbable polymers market due to increasing healthcare expenditures, expanding medical infrastructure, and rising demand for advanced medical technologies. The region's growing population and improving healthcare access contribute to higher adoption rates of bioresorbable polymers in surgical procedures and medical device manufacturing. Additionally, supportive government initiatives and investments in healthcare further stimulate market growth across Asia Pacific.
Global Bioresorbable Polymers Market Companies:
- 3D Biotek LLC.
- Abbott
- Braskem
- Cardia Bioplastics
- Corbion
- Danimer Scientific
- DSM
- Evonik Industries AG
- Foster Corporation
- Futerro
- Green Dot Bioplastics
- KLS Martin Group
- Poly-Med Incorporated
- Sunstar Suisse S.A.
- Other Industry Participants
Browse Related Category Reports
Global Bioresorbable Polymers Market
By Origin
- Natural
- Synthetic
By Type
- Polylactic Acid (PLA)
- PDLLA (poly DL-lactic acid)
- PLLA (poly (L-lactic acid)
- PDLA (poly (D-lactic acid)
- Polyglycolic Acid (PGA)
- Polycaprolactone (PCL)
- Polylactic-co-Glycolic Acid (PLGA)
- Polyhydroxyalkanoates (PHA)
- Others
By Application
- Medical Devices
- Sutures
- Stents
- Orthopedic devices
- Tissue engineering scaffolds
- Drug delivery systems
- Others
- Packaging Industry
- Agriculture
- Controlled-release fertilizers
- Plant pots and trays
- Others
- Cosmetic Industry
- Textile Industry
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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