The Global Bioresorbable Polymers Market: The growing demand for bioresorbable polymers from the drug delivery segment is expected to be a major factor in the development of the market during the forecast period.

Published Date: 10/05/2021

The Global Bioresorbable Polymers Market is projected to grow at 13.9% CAGR during the forecast period. The Global Market in 2020 was valued USD 873.51 Million and is expected to reach USD 1.98 Billion by the end of 2027.

Bioresorbable polymers are polymer materials which can be safely absorbed by the body so that the materials from which construction is made disappear over time. They are also referred to as degradable polymers. Bioresorbable polymer implants are rapidly growing alternatives to traditional implants in many applications. These implants are only required to serve for a certain time period ranging from weeks to months. The most common bioresorbable polymer is polylactic acid (PLA). PLA is the main building block for bioresorbable polymer materials. PLA is derived from renewable resources, such as corn starch or sugarcane. They are biodegradable and compostable. Bioresorbable materials have wide applications in medical indications, such as sutures, tissue fixation screws, coronary & peripheral vascular scaffolds, bone pins & anchors, and surgical meshes & matrices.

The global market for bioresorbable polymers has rapidly grown owing to the increasing awareness among the patients and increase in investment to develop the health sector. Another key factor which is driving the growth of market is the incorporation of 3D printing. Despite numerous benefits, the high cost of bioresorbable polymers when compared to conventional polymers is likely to restrain the growth of market. Key players in global bioresorbable polymers market includes Foster Corporation, Evonik Industries AG, Royal DSM NV, Corbion, Poly-Med, Sigma-Aldrich, KLS Martin, DURECT Corporation, Mar-Lee Companies, Merck KGaA, and Zeus.

Thee bioabsorbable polymers market is segmented on the basis of type, application, and region. Based on type, the market is further classified into agro-polymers, bio-polyesters, polylactic acid, polysaccharides, and polyglycolic acid. Based on application, the global bioresorbable polymers market is categorized into drug delivery, orthopaedics and others.

North America region will have significant market share. It can be attributed to mature healthcare industry, research and development activities in the field of orthopaedics.