Bioresorbable Polymers Market Expected To Grow At CAGR Of 13.8% From 2023 To 2030

 Bioresorbable Polymers Industry Overview

The global bioresorbable polymers market size was estimated at USD 1.30 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 13.8% from 2023 to 2030. The globally increasing consumer health awareness, along with improving healthcare facilities and the rising number of surgical procedures are the primary factors aiding industry expansion. As per data by the National Library of Medicine (NLM) in 2020, globally, approximately 310 million major surgeries are conducted annually. Of these, around 20 million surgeries are performed in Europe and 40 to 50 million in the U.S. Bioresorbable, or bioabsorbable polymers, come from a class of materials that can be broken down and absorbed by the body over time.

Gather more insights about the market drivers, restrains and growth of the Bioresorbable Polymers Market

These polymers are widely utilized in various fields, with the medical sector being a major one. In medicine, bioresorbable polymers are used in medical devices and implants, such as sutures, screws, tissue scaffolds, plates, and stents. These polymers dissolve in the body gradually, avoiding the need for a second surgery for their removal. Moreover, these polymers are used to create drug delivery systems, such as nanoparticles or microspheres. These systems release medication at a controlled pace and ultimately dissolve in the body, eliminating the need for their removal. Bioresorbable polymers used in medical procedures reduce any post-surgery risks for the patient without harming their body.

The product is manufactured through the polymerization of bio-based raw materials via engineered industrial processes. The rising number of medical implants, such as cochlear implants, pacemakers, breast implants, and hip implants, among others, is a leading factor contributing to market growth. As per the National Institute on Deafness and Other Communication Disorders (NIDCD), around 737 thousand cochlear implants were globally implanted as of December 2019. Similarly, the Organization for Economic Cooperation and Development (OECD) states that hip replacement rates increased by an average of 22% between 2009 and 2019, while knee replacement rates increased by 35%.

Browse through Grand View Research's Plastics, Polymers & Resins Industry Research Reports.

  • The global cochlear implant market size was estimated at USD 1.86 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.02% from 2024 to 2030.
  • The global microspheres market size was valued at USD 3.2 billion in 2015 and is expected to grow at a CAGR of 10.4% over the forecast period.

Bioresorbable Polymers Market Segmentation

Grand View Research has segmented the global bioresorbable polymers market based on product, application, and region:

Bioresorbable Polymers Product Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Polysaccharides
  • Proteins
  • Polylactic Acid (PLA)
  • Polyglycolic Acid
  • Polycaprolactone
  • Others

Bioresorbable Polymers Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • Drug Delivery
  • Orthopedics
  • Others

Bioresorbable Polymers Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

  • North America
    • US.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Poland
    • The Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • Indonesia
    • Malaysia
    • Thailand
  • Central & South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa

Key Companies profiled:

  • Corbion NV
  • Evonik Industries AG
  • Poly-Med Inc.
  • Foster Corp.
  • Abbott
  • KLS Martin Group
  • 3D Biotek LLC.
  • Sunstar Suisse S.A.
  • DSM
  • Futerro

Key Bioresorbable Polymers Company Insights

Companies are rapidly expanding their production capabilities to consolidate their market position. With governmental support in various countries focused on environmental concerns as well as the growing demand for specialized orthopedic and drug delivery applications in the global population, industry players have been compelled to focus on consumer-specific product positioning strategies for higher penetration in the local markets. For instance, in August 2021, Evonik Industries AG acquired a German biotech company, JeNaCell, to expand its biomaterials product portfolio in the healthcare industry. The acquisition will help Evonik’s Nutrition & Care division’s portfolio transformation to system solutions and will expand the division’s natural goods for the medical technology platform.

Order a free sample PDF of the Bioresorbable Polymers Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Comments

Post a Comment

Popular posts from this blog

Food and Beverage ERP Solutions Procurement Intelligence: Food and Beverage ERP Solutions category is expected to have pricing growth outlook of 8.2% From 2023 To 2030

  Food and Beverage ERP Solutions Category Overview The food and beverage ERP solutions category is expected to grow at a CAGR of 8.2% from 2023 to 2030.Consumers are increasingly seeking transparency and traceability in the food and beverage business, which is fuelling this category's growth. ERP solutions can help businesses to track the origin of their ingredients and products, which can in turn help ensure food safety and meet consumer demand. The supply chain for the food and beverage industry is complex and has a wide range of players. ERP solutions can help businesses to optimize their supply chains, improve efficiency, and reduce costs. Technologies such as cloud computing, barcode scanning, and RFID labels are used under this category. Cloud computing offers a cost-effective and scalable solution for hosting ERP software, enabling remote access to data and applications. Barcode scanning is a fast and efficient method for tracking inventory and materials, improving traceabi...
Read more

Contact Center Software Market Worth $149.58 Billion By 2030

Contact Center Software Industry Overview The global contact center software market size was valued at USD 23.94 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 23.2% from 2022 to 2030.  The growth of the market can be attributed to the growing adoption of cloud-based and virtual contact center solutions to achieve better business continuity. Contact centers across the globe are focusing on transforming customer experience from a single interaction to an entire journey of consistent and personalized interactions. At this juncture, contact center software is helping businesses in ensuring a seamless customer experience across all communication channels. The strong emphasis businesses are putting on streamlining and personalizing customer interactions to enhance customer satisfaction is driving the growth of the market. According to a study by Salesforce.com, Inc., around 84% of customers consider the experience provided by a particular company e...
Read more

Manned Guarding Services Procurement Intelligence : Manned Guarding Services Category Is Expected to Grow at CAGR of 13.5% From 2024 to 2030

  Manned Guarding Services Category Overview The manned guarding services category is anticipated to witness growth at a CAGR of 13.5% from 2024 to 2030. Asia Pacific dominates the global category, followed by North America (with the fastest growth rate) and Europe. Rising standards of living, urbanization, and population are the key factors driving Asia Pacific’s growth. In addition, the region’s expanding tourism industry, coupled with political and economic stability, is also propelling the category’s expansion. The growing usage of technologies, such as access control systems and CCTV, is propelling the demand for the services offered in the category in North America. It has also helped companies to cut expenses while improving the safety of their employees and facilities. The demand in Europe is driven by the demand for more security at public events and venues and the growing incidence of terrorist incidents. Order your copy of the  Manned Guarding Services Pro...
Read more