Bioresorbable (Resorbable) Polymers Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- Transparency Market Research
Global Bioresorbable (Resorbable) Polymers Market: Overview
Bioresorbable polymers are polymers that completely biodegrade inside the human body without presenting a threat. This allows physicians to reduce the post-surgery risk to the patient and also eliminates the need for a second surgery to remove temporary implants. The global market for bioresorbable polymers has grown rapidly in the recent years due to the growing awareness among patients, widespread efforts by governments to upgrade their healthcare sector, and the high disposable income of consumers in developed economies.
Global Bioresorbable (Resorbable) Polymers Market: Drivers and Restraints
The major driver for the global bioresorbable polymers market is the increase in patient comfort brought about by bioresorbable polymers. Conventional materials left in the body post-surgery required another minor surgery to remove the materials, some presenting a health risks to the patient. Bioresorbable polymers eliminate both these factors due to their property of disintegrating into the body over a period of time.
The growing demand for bioresorbable polymers for drug delivery is another key aspect of the trajectory of the global bioresorbable polymers market. The chemically neutral nature of bioresorbable polymers and their harmless decomposition in the body make them perfect for drug delivery. The growing demand for bioresorbable polymers from the drug delivery segment is expected to be a vital factor in the market’s development in the 2016-2023 forecast period.
On the other hand, due to their technological sophistication, bioresorbable polymers cost more than conventional medical polymers. This is a major restraint on the bioresorbable polymers market in developing regions, since the overall quality of the healthcare sector is relatively low in regions such as Asia Pacific and Latin America. The lack of advanced healthcare infrastructure in developing regions also hampers the bioresorbable polymers market in the form of a lack of a reliable quality control.
Incorporation of 3D printing is expected to be a major aspect of the global bioresorbable polymer market’s trajectory in the coming years. The minute differentiations required in bioresorbable polymers according to the constitution of various patients and the different circumstances in each case can be incorporated much more easily and reliably with 3D printing.
Global Bioresorbable (Resorbable) Polymers Market: Segmentation
Among the various types of polymers in the bioresorbable polymers market, polylactic-acid-based bioresorbable polymers dominated the demand from the global market. Polylactic acid gets converted into lactic acid in the body, which naturally occurs in the body at low concentrations and can be safely removed by the body’s own excretory systems. Polyglycolic acid is another widely used bioresorbable polymer and is majorly used in sutures.
The increasing prevalence of orthopedic disorders has led to them emerging as the largest application segment of the global bioresorbable polymers market. Despite the increasing demand for bioresorbable polymers in drug delivery, orthopedics will remain a major application segment of the global market in the coming years.
North America emerged as the largest regional player in the global bioresorbable polymers market due to the high level of technological sophistication in the healthcare sector in the U.S. and Canada. The U.S. is the major R&D hub for the medical industry, further driving the North America bioresorbable polymers market. The similarly advanced healthcare scenario in Europe, particularly Western Europe, has driven the European market for bioresorbable polymers market. However, Asia Pacific is expected to become a major regional market for bioresorbable polymers in the coming years.
Global Bioresorbable (Resorbable) Polymers Market: Competitive Dynamics
The report profiles major players in the global bioresorbable polymers market in order to provide a detailed overview of the market’s competitive landscape. Key players studied in the report include Corbion, Poly-Med, Inc., Foster Corporation, and Evonik Industries AG.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
- Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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