Bioresorbable Polymers (Medical Industry) Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Bioresorbable Polymers (Medical Industry) Market grew at a CAGR of 10.8% between 2017-2021 and is estimated to be US$ 1,074.6 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 11.2% and is expected to reach a valuation of US$ 3,106.7 Mn by 2032 end.
Throughout the projected period, In the market, plastics are used to produce a wide range of products that serve as crucial instruments for various purposes. The industry has been growing steadily in recent years, with innovations in plastics and the widened adoption of decontamination devices fuelling its growth.
ChemView Consulting has analyzed that Bioresorbable polymers are used in different surgeries to eliminate stiffness and restrict the migration of the implanted materials after an operation. These materials act as biocompatible silicon rubber-type displaceable materials. The major factors that drive this market include a rising geriatric population, the development of advanced surgical techniques and instruments, and the increasing use of bioresorbable polymers in drug delivery.
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Segments Covered in Report
By Product:
- Polysaccharides Bioresorbable Polymers
- Proteins Bioresorbable Polymers
- Polylactic Acid Bioresorbable Polymers
- Polyglycolic Acid Bioresorbable Polymers
- Polycaprolactone Bioresorbable Polymers
- Others
By Application:
- Drug Delivery
- Orthopedics
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Bioresorbable Polymers (Medical Industry) Market
- Based on the Product, In 2021, the Polylactic Acid (PLA)/Polylactide category accounted for 38.0% of the revenue market for Bioresorbable Polymers. Polylactic acid (PLA), also known as polylactide and made from a lactide monomer, is the most widely used type of bioresorbable polymer. The bioresorbable polymer market’s primary building block is thought to be PLA.
- Based on the Application, In 2021, The segment will be divided into drug delivery and orthopedics based on Application. Because of the numerous sutures, screws, stents, and pins it produces that are utilized in various medical operations, the Orthopaedics segment emerged as the top applicant category in 2021. They contributed more than 45.0% of the total revenue.
- Based on Region, North America commands the bioresorbable polymers industry, with a market share of more than 34.5% in 2021. Throughout the prediction, the region is expected to grow at an incredible rate. The rising product usage in the region’s orthopedics and drug delivery applications is blamed for this market expansion.
Competition Summary
Key companies covered in the market study are Corbion NV, Evonik Industries AG, Poly-Med Inc., Foster Corp., Abbott, KLS Martin Group, 3D Biotek LLC., Sunstar Suisse S.A., DSM, and Futerro.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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