IMARC Group, a leading market research company, has recently releases report titled “Bioresorbable Polymers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” The study provides a detailed analysis of the industry, including the global bioresorbable polymers market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the bioresorbable polymers market?
The global bioresorbable polymers market size reached US$ 1.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.4 Billion by 2032, exhibiting a growth rate (CAGR) of 9.86% during 2024-2032.
What are Bioresorbable Polymers?
Bioresorbable polymers, also called as biodegradable or absorbable polymers, represent materials that can be broken down by the natural metabolic processes of the body. They comprise polysaccharides, polylactic acid (PLA), polyglycolic acid, proteins, polycaprolactone, etc. Bioresorbable polymers are widely used in dental implants, ligature clips, sutures, orthopedic fixation instruments, and drug-delivery devices. They exhibit high mechanical strength and are biocompatible, versatile, degradable, etc. Compared to non-bioresorbable polymers, these materials aid in reducing inflammation, improving healing, and eliminating the need for removal surgery.
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What are the growth prospects and trends in the bioresorbable polymers industry?
The expanding healthcare industry across the globe is primarily driving the bioresorbable polymers market. Furthermore, the widespread adoption of these materials in orthopedic elective surgeries, as synovial fluid within the orthopedic joints generally dries, on account of aging, is also augmenting the market growth. Besides this, the growing prevalence of chronic disorders, such as cardiovascular diseases (CVDs), diabetes, and cancer, that require long-term treatment and often use medical devices and implants is positively influencing the global market. Moreover, the development of advanced bioresorbable polymers with improved properties, including increased strength, flexibility, and biocompatibility, is further bolstering the market growth.
Apart from this, manufacturers are focusing on consumer-specific product positioning strategies, owing to the rising environmental consciousness and the escalating demand for specialized orthopedic and drug delivery applications, which is acting as another significant growth-inducing factor. Additionally, the introduction of electrospinning and three-dimensional (3D) printing technologies and the launch of numerous government initiatives to promote the use of sustainable materials are also catalyzing the global market. In addition to this, extensive research and development (R&D) activities and the increasing expenditure capacities of individuals are expected to drive the bioresorbable polymers market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Polysaccharides
- Proteins
- Polylactic Acid
- Polyglycolic Acid
- Polycaprolactone
- Others
Breakup by Application:
- Drug Delivery
- Orthopedics
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Ashland Global Specialty Chemicals Inc.
- Bezwada Biomedical LLC
- Corbion N.V.
- Evonik Industries AG (RAG-Stiftung)
- Foster Corporation
- Nomisma Healthcare Pvt. Ltd.
- Poly-Med Incorporated
- Reva Medical LLC
- Seqens SAS
- Zeus Company Inc.
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