According to Fact.MR’s study of the worldwide bioresorbable polymers market, the bioresorbable polymers market will generate US$ 1.3 billion in global sales by 2021. The expected market growth between 2022 and 2032 is 15.8%, which is greater than the historical growth rate. Biopolyesters are expected to earn the most revenue between 2022 and 2032, with a CAGR of more than 16.5%.
The market for bioresorbable polymers is the market for synthetic polymers that are engineered to degrade and be absorbed by the body over time. These polymers are often employed in medical applications such drug delivery systems, surgical sutures, and orthopedic implants. The market for bioresorbable polymers is predicted to expand substantially in the future years, owing to factors such as rising demand for improved medical technology, rising incidence of chronic illnesses, and an increase in the elderly population.
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Key Takeaways from the Study
- Bioresorable Polymers market was valued at US$ 1.3 Bn in 2021. According to Fact.MR, Bioresorable Polymers revenue would increase 4.1X between 2022 and 2032, reaching roughly US$ 6.2 Bn in 2032.
- In terms of Product Type, Biopolyesters is projected to account for the highest projected CAGR of over 16.5%.
- In terms of application, revenue through Orthopedics accounted for the highest CAGR of 13.2% during 2017-21.
- US is the dominant country in Bioresorable Polymers market with an expected absolute dollar growth opportunity of over US$ 1.7 Bn.
- In March 2021, Ashland Global Holdings Inc. expanded the production plant for its Viatel bioresorbable polymer and relocated its research and development (R&D) activities from Dublin to Mullingar’s National Science Park.
- In September 2020, Corbion and Total announced plans to develop a new polylactic acid bioplastics plant in Europe. The plant, which will be Europe’s first global-scale Polylactic acid production facility, is estimated to have a capacity of 100 thousand tonnes per year. The new factory is scheduled to open in 2024 and will be located in France. This additional polylactic acid investment will hasten plans to increase lactic acid production and meet the increasing demand for polymers.
Key Companies Covered
- Corbion N V
- Evonik Industries AG
- Poly-Med, Inc.
- KLS Martin Group
- Foster Corporation
- Ashland Global Holdings Inc.
- DSM Biomedical, Inc
- Zeus Industrial Products, Inc
- REVA Medical, LLC.
- Poly-Med Incorporated
- Bezwada Biomedical
- Nomisma Healthcare Pvt. Ltd.
Key Questions Covered in the Bioresorbable Polymers Market
- What are bioresorbable polymers, and what are their applications in the medical and pharmaceutical industries?
- What factors are driving the growth of the bioresorbable polymers market?
- Who are the key players operating in the bioresorbable polymers market, and what are their strategies to maintain a competitive edge?
- Which regions are expected to see significant growth in the bioresorbable polymers market, and what are the factors driving this growth?
- What are the challenges facing the bioresorbable polymers market, and how are they being addressed?
- What are the latest trends in the bioresorbable polymers market, and how are they impacting the industry?
- What are the regulatory frameworks governing the use of bioresorbable polymers in different regions, and how are they impacting the market?
- What are the opportunities for growth in the bioresorbable polymers market, and how can players leverage them to expand their business?
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the Bioresorable Polymers Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Bioresorable Polymers in terms of by Product Type (Biopolyesters, Agro-polymers), Application (Orthopedics, Drug Delivery, Other Applications) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).