Bioresorbable Polymers Market

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The global Bioresorbable Polymers Market is valued at USD 500 Million in 2024 and is projected to reach a value of USD 1661.5 Million by 2035 at a CAGR (Compound Annual Growth Rate) of 11.55% between 2025 and 2035.

Bioresorbable Polymers are a class of materials that are frequently used for temporary implant applications. These materials degrade over time through the process of hydrolysis. The global Bioresorbable Polymers market is expected to grow significantly due to primary driving factors such as technological advancements, innovations in plastics, and evolving decontamination devices. Additionally, rising product demand and the ability to biodegrade safely inside the human body will widen the markets scope. Physicians can eliminate the need for complicated surgeries due to their biodegradable nature. Constant manufacturing innovations are leading to the integration of polymerization of bio-based raw materials through engineered industrial processes, fuelling the growth of the global Bioresorbable Polymers market.

Bioresorbable Polymers, such as polysaccharides, proteins, polylactic acid (PLA), and polycaprolactone, are manufactured from vegetable oils derived from rapeseed or sunflower corn fiber. Additionally, raw materials such as castor, soybean, heat by-products, food processed waste, potato, corn, paper mill sludge, and livestock waste can also be used for manufacturing Bioresorbable Polymers, fuelling the growth of the Bioresorbable Polymers market. These raw materials are available abundantly at an effectively low cost. Rising demand from the healthcare sector is pushing the growth of the global Bioresorbable Polymers market. The improving healthcare sector among developing economies is increasing life expectancies among the general population, giving rise to the senior population. This will augment the growth of the Bioresorbable Polymers market to grow at a rapid pace.

The synovial fluid within the orthopedic joints usually dries due to aging, increasing the frequency of elective orthopedic surgeries. This is creating the pathway for the global industry to flourish. An abundant supply of PLA acid across the US, combined with the increasing application within the healthcare sector, is pushing the markets growth at a rapid pace. The utilization of Bioresorbable Polymers materials is expected to widen into spinal interbody fusion, in which α-polyesters will be the most promising group to develop. Rising collaborations between hospitals and medical groups are being established to cater to the armed forces' demand. This will increase the footprint of the global Bioresorbable Polymers market during the forecast period.

Economic Insights

The world bank has predicted that a recession will occur in many nations in 2023 due to the central banks' increased interest rates. The GDP growth rate in 2023 is predicted to be 1.7%, which would be the slowest rate of the recession since 1993. The downturn is expected to be noticeable in advanced/developed economies like the United States. A crisis has resulted from Russias invasion of Ukraine, but it is worse in European nations. Several nations in Asia and the European region depend heavily on Russian and Ukrainian oil and gas exports. As a result, the energy crisis intensified. The manufacturing sector had the most significant effects of the conflict as the price of raw materials increased.

Top Market Trends

1. Favorable Government Policies: The global healthcare sector is seeing a sustainable growth ground as the number of reimbursement scenarios for numerous surgical procedures increases. This contributes to the forecast periods global Bioresorbable Polymers market. The rising number of surgical procedures due to increasing insurance coverage will add value to the market. For instance, a global surgical package offered by the US CMS is aimed at providing payments for all surgical procedures (Preoperative, intraoperative, and postoperative) performed by surgeons for US citizens.

2. Rising Demand for Drug Delivery Applications: Polymers significantly contribute towards improving drug delivery technology by enabling the regulated release of therapeutic agents in constant dosages. These developments are being extended toward cycle dosing and various releases of both hydrophilic and hydrophobic medicines. Bioresorbable Polymers are being utilized heavily within nanomedicines and polymer therapies. Many drug deliveries, including tiny hydrophilic and hydrophobic medication, vaccines, peptides, and biological macromolecules, have begun testing to deliver polymeric nanoparticles. These factors are expected to increase the global Bioresorbable Polymers footprint during the forecast period.

3. Increasing Patient Pool Suffering From Orthopedic Impairment: The global Bioresorbable Polymers market is expected to widen due to the rising consumer base. An increasing number of patients suffering from orthopedic impairment enhances the markets growth. Bioresorbable Polymers are widely used in numerous orthopedic devices. Over the current decade, the global Bioresorbable Polymers market is expected to be driven by the snowballing volumes of surgical procedures. The prominent leaders are concentrating on R&D expansion, which is expected to widen the global market scope.

Market Segmentation

The global Bioresorbable Polymers market can be categorized on the following: Type, Application, and Regions. Based on type, the market can be categorized into polylactic acid (PLA), polyglycolic acid (PLLA), poly (lactic-co-glycolic acid) (PLGA), polycaprolatone (PCL), and others. By application, the market can be segmented across orthopedic devices, drug delivery, and others. By Likewise, based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Type

Polylactic Acid to Dominate Market Owing to Stiffness & Biocompatibility

The global Bioresorbable Polymers market is expected to be dominated by the polylactic acid segment in terms of revenue and share during the forecast period. Polylactic acid has many advantages, such as stiffness, biocompatibility, and relatively high strength. Additionally, it features a higher modulus making it highly suitable in the manufacturing process of fixation devices, such as arrows, washers, pins, and screws used in orthopedic surgeries. PLA acid can also be converted into lactic acid naturally at lower concentrations and can be safely removed by the bodys excretion system. Its degradable nature allows for a safe and dissolvable elimination process. This will add value to the segmental growth of PLA acid. Polyglycolic acid will grow with the fastest-growing CAGR during the forecast period owing to rapid degradation compared to other biopolymers.

Based on Application

Orthopedic Devices to Account for the Largest Market Share Owing to a Wide Variety of Products

Orthopedic devices are expected to lead the largest market share in revenue and share. Bioresorbable Polymers are heavily utilized in various orthopedic products such as sutures, screws, stents, and pins. They are also widely used in biomedical settings, including prostheses and repairing injured joints. Resorbable polymer-based implants further help to enhance patient care and clinical results while lowering the expense of upcoming procedures and surgeries. Increasing demand for patients' unwillingness to take injections and avoid the need for second operations is expected to increase the footprint of orthopedic devices. Drug delivery will grow with the fastest growing CAGR during the forecast period due to increasing demand and their simplicity in dissolving bodily fluids.

Based on Region

North America to Dominate Global Sales Owing to Rising Product Consumption

The global Bioresorbable Polymers market is expected to be dominated by the North American region in terms of revenue and share. Factors such as increased consumption in drug delivery and orthopedic applications within the area are expected to add value to regional growth.

Asia Pacific will grow with the fastest growing CAGR during the forecast period owing to increase per capita spending combined with the presence of high-growth economies such as China, India, and Japan. Additionally, the rapidly growing geriatric population and supportive reimbursement policies will further widen the scope of the Asia Pacific Bioresorbable Polymers market.

Competitive Landscape

The global Bioresorbable Polymers market is consolidated due to the presence of numerous players. Players are focused on increasing their manufacturing capabilities due to growing demand. Additionally, players concentrate on investing within their research and development departments to expand their product portfolio. Also, mergers and acquisitions are major strategies that the dominant players include to increase their global market share.

The key players in the global Bioresorbable Polymers market include - Corbion NV (Netherlands) among others.

Recent Market Developments:

· September 2020: DSM announced a partnership with PBC Biomed, an Ireland-based medical design manufacturer. This partnership is based on developing regenerative bone adhesives for safe and cost-effective surgical procedures.

· December 2020: Evonik Industries AG announced that they completed their acquisition of the LACTEL Absorbable Polymers product line from DURECT Corporation. The acquisition is expected to be considered a step in the growth trajectory for Evoniks life science division of nutrition and care.

· September 2020: Corbion and Total announced that they were planning to build a new PLA bioplastics plant in Europe through their Total Corbion PLA joint venture. The plant is expected to have a capacity of 100,000 per annum, making it the first global-scale PLA production facility in Europe. Additionally, the new plant is planned to be located in France and operational in 2024.

· May 2020: Evonik Industries announced they were developing a new advanced biomaterial manufacturing facility in Alabama, US. The facility will expand the good manufacturing practices (GMP) compliant production capacity of RESOMER Bioresorbable Polymers to meet the growth of the application with implantable medical devices and parenteral medicines.

Segmentation of the Global Bioresorbable Polymers Market