Shibuya-ku, Tokyo, Japan, Japan, Aug 29, 2022, 01:23 /Comserve / -- Key Companies Covered in the Resorbable (Bioresorbable) Polymers Market Research are Corbion N.V. (The Netherlands), Evonik Industries AG(Germany), Foster Corporation (US), KLS Martin Group (Germany), and other key market players.
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Global Resorbable (Bioresorbable) Polymers Market Overview
Resorbable (Bioresorbable) Polymers Market stood at $ 1.6 billion in 2018 and is projected to reach $ 2.4 billion by 2024, growing at a CAGR of around 7.5% during the forecast period.
Bioresorbable polymers are a ground-breaking technological material that can be broken down by the body and do not require mechanical removal. These materials have applications in a broad range of medical indications, such as coronary & peripheral vascular scaffolds, tissue fixation screws and sutures. Some of the factors fueling global resorbable (bioresorbable) polymers market are patient-friendliness, growing demand in drug delivery application and cost-effectiveness. However, the market is restrained by the lack of quality control in some developing countries and high price of bioresorbable polymers.
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Global Resorbable (Bioresorbable) Polymers Market Segmentation
Market has been categorized into type, application and regional distribution. Based on type, the market has been segmented into agro-polymers (Polysaccharides & Proteins) and bio -polyesters (Polylactic Acid, Polycaprolactone, Polyglycolic Acid). The market is dominated by biopolyesters type segment, owing to high resistance to poor environmental conditions and their enhanced quality. The bio-polyesters segment is also anticipated to emerge as the fastest-growing segment in global bioresorbable polymers market during the forecast period.
Based on application, the market has been segmented into orthopedics, drug delivery and others. Among these application segments, the orthopedics application is expected to lead global bioresorbable polymers market in coming years, closely followed by drug delivery segment. Notably, the drug delivery application is also expected to witness the highest growth rate during the forecast period, owing to growing number of implant surgeries in North America, Asia-Pacific and Europe.
Global Resorbable (Bioresorbable) Polymers Regional Segmentation
North America is the largest bioresorbable polymers market, in terms of value, globally, closely followed by Europe. Some of the factors propelling the growth of North American market include augmented local manufacturing, high growth of end-use industries and increasing number of domestic companies in various vertical market segments. Further, North America is anticipated to register fastest growth in global bioresorbable polymers market, on the back of high demand from drug delivery applications and orthopedics.
Competitive Landscape
Some of the leading companies in global resorbable (bioresorbable) polymers market are Corbion, Evonik Industries, Foster Corporation, KLS Martin, Poly-Med, Merck KgA, Mar-Lee Companies, LACTEL Absorbable Polymers, DSM, PCAS, etc.
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Objective of the Study:
• To analyze and forecast global resorbable (bioresorbable) polymers market size.
• To forecast global resorbable (bioresorbable) polymers market based on type, application and regional distribution.
• To identify drivers and challenges for global resorbable (bioresorbable) polymers market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global resorbable (bioresorbable) polymers market.
• To conduct the pricing analysis for resorbable (bioresorbable) polymers market.
• To identify and analyze the profile of leading players involved in the manufacturing of resorbable (bioresorbable) polymers.
Some of the leading players in global resorbable (bioresorbable) polymers market are Corbion, Evonik Industries, Foster Corporation, KLS Martin, Poly-Med, Sigma-Aldrich, Mar-Lee Companies, LACTEL Absorbable Polymers, DSM, PCAS, etc.
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