Pune, India, Jan. 06, 2022 (GLOBE NEWSWIRE) -- The global bioresorbable polymers market was estimated to value USD 1,120.3 million in 2021 and is projected to grow at a CAGR of 12.2% during the forecast period 2021 to 2030. As per the recent study report published by Quince Market Insights.
In recent years, bioresorbable interference screws have been widely used in anterior cruciate ligament (ACL) reconstructions. Titanium and other metal screws, though biocompatible, may result in an increased risk of infection.
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Additionally, as the screws are left inside the procedure area, a second surgery is required for removing them. Such metal implants interfere with diagnostic imaging, which makes revision surgery difficult. Thus, the use of metal implants may induce stress in the surrounding bone, which may cause a reduction in bone density.
Various studies were conducted for determining the efficacy of metallic screws vs bioresorbable screws. For instance, as per a study conducted by The Journal of Arthroscopic and Related Surgery in 2016, PLLA-HA (L-lactic acid with hydroxyapatite) screws, a type of bioresorbable screw, were not associated with increased cyst formation or femoral tunnel widening in various orthopedic surgeries.
The major factor for the growth of the bioresorbable polymers market is an increase in patient comfort brought about by bioresorbable polymers. Traditional materials remain in the body after an operation, which necessitates a second minor surgery to remove them, posing some health risks to the patient.
Bioresorbable polymers eliminate both these disadvantages due to their property of disintegrating inside the body over a period of time. Furthermore, the growing demand for bioresorbable polymers for drug delivery is another factor that will drive the growth of the global bioresorbable polymers market.
Since the implementation of bioresorbable screws has varied advantages, the market for these screws is expected to grow during the forecast period.
On the other hand, due to the high price differential between conventional and novel screws, the market is expected to retain the utilization of traditional screws in medical applications. This will restrain market growth over the forecast period.
The electrospinning process allow to control fiber orientation in the final fibrous scaffolds, which can range from completely random to mostly align. As a result of these positive findings, it might be possible to use this technology to build the ideal tissue engineering scaffold. This is expected to generate future growth opportunities in the bioresorbable polymer market.
Though, cost optimization is an essential activity in all industrial processing, and it is most important in the production of medical devices due to the high price of raw materials and quality control. Because of all these factors, the market share of the bioresorbable product is big challenge.
By Type:
Based on type, the market is segmented into polylactic acid, polysaccharides, polyglycolic acid, polycaprolactone, (polylactic-co-glycolic acid) PLGA, and others.
The poly lactic-co-glycolic acid (PLGA) is the fastest growing segment in the forecast period. On account of the PLGA is mainly used in the application of drug delivery. It is also used in the applications like prosthetic devices, and tissue engineering devices. The degradability and mechanical properties of PLA is considerably improved by combing PGA. Hence it is extremely chosen type of polymers in drug delivery.
By Application:
Based on application, the market is segmented into orthopedics, drug delivery, and others. Among these segments, the orthopedics segment holds the largest market share in the global bioresorbable polymers market.
The drug delivery segment is expected to witness the fastest growth in the forecast period. This is due to patient’s non-willingness to take injections or other procedures repeatedly, and the major breakthroughs made in novel drug delivery systems which was only possible due to polymer science.
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By Region
There are major five types of region, which mainly include North America, Europe, Asia Pacific, North America, Middle East and Africa. Among these, Asia Pacific holds the fastest growing segment in the forecast period. On account of factors such as the increasing product demand in the drug delivery and orthopedics applications and an increasing healthcare expenditure is likely to drive the bioresorbable polymers market growth in the region.
Recent Developments in the Market
- November 2020, Foster Corporation declared a new partnership with Aran Biomedical. Aran Biomedical offers biomaterial product solutions for implantable medical tools. Foster will work with Aran to promote their ProTEX Med, a long-term implantable polypropylene. This new collaboration is an ideal complement for both companies. Foster will be able to provide its consumers ProTEX Med polypropylene to meet permanent, long-term, implantable needs, while Aran will assist the product technologically and with regulatory backing.
- October 2019, Poly Med Inc. opened a 30,000-sf. state-of-the-art facility for expanding its manufacturing business and to meet the growing demand and development. This will enable the company to grow its business in the neighboring states and countries it serves.
- August 2020, Creador (Malaysia) private equity, capitalized USD 34.51 million in Indian pharmaceutical packaging company Shriji Polymers (India) Ltd. Shriji’s product portfolio includes high-density polyethylene bottles, polypropylene caps, and other specialty plastic products, which is expected to witness growth with this investment.
- March 2019, Toray International Inc. (Japan) developed a novel bioabsorbable polymer with skin-like flexibility that recovers to its original shape even after being stretched 10 times the original length, by utilizing its proprietary functional polymer design technology. Furthermore, it has also recognized a technology to progress the degradation speed of the polymer by 10 times through the process hydrolysis. This is expected to apply to tissue reconstruction treatment such as regenerative medicine.
COVID-19 Impact on Bioresorbable Polymers Market
The market has a negative impact on account of COVID-19 outbreak. The pandemic has largely impacted the medical device manufacturers. The raw materials required for the production of medical devices and bioresorbable polymers got affected by COVID-19, as many countries were under lockdowns. This has caused shortages of bioresorbable polymers across the globe.
Bioresorbable polymers are utilized in the healthcare industry for a number of applications, which include surgical sutures, tissue regeneration, wound dressings, enzyme immobilization, tissue engineering scaffold, controlled drug delivery and gene delivery, cryopreservation, nanotechnology, and medical implants & devices, among others. The shortage of bioresorbable polymers will, therefore, negatively impact the growth of the market.
Some Major Findings of the Global Bioresorbable Polymers Market Include:
- Profiles of major market players operating in the global bioresorbable polymers market are Henan Xinghan Biotechnology Co. Ltd. (China), Evonik Industries AG(Germany), Corbion N.V. (The Netherlands), Foster Corporation (US), DSM Biomedical (US), Inc., KLS Martin Group (Germany), Ashland Global Holdings Inc. (US), Seqens Group (France), Zeus Industrial Products (US), Inc., REVA Medical, LLC (US), Bezwada Biomedical, LLC (US), Poly-Med Incorporated (US), BMG Incorporated (Japan), Nomisma Healthcare Pvt. Ltd. (India), Polysciences, Inc. (US), Musashino Chemical Laboratory, Ltd. (Japan), Huizhou Foryou Medical Devices Co., Ltd. (China).
- Impact of COVID-19 on the global bioresorbable polymers market.
To find more insights on this topic, visit Quince Market Insights report titled, “Bioresorbable Polymers Market, by Type (Polylactic Acid, Polyglycolic Acid, Polysaccharides, Polycaprolactone, PLGA, Others), Application (Drug Delivery, Orthopedics, Others), Region (Asia Pacific, North America, Middle East and Africa, Europe, and South America)” — Market Size and Forecasting to 2030 in-depth analysis along with the table of contents (ToC).
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