The global bioresorbable polymers market size surpassed USD 1.52 billion in 2023 and is anticipated to be worth around USD 5.55 billion by 2033, growing at a CAGR of 13.83% from 2024 to 2033.
Key Points
- The North America bioresorbable polymers market size accounted for USD 500 million in 2023 and is expected to rise around USD 1,830 million by 2033.
- North America has held the largest share of 33% in 2023.
- Asia Pacific is emerging as the fastest-growing region in the global market.
- By product, the polylactic acid segment led the market with the biggest market share of 31% in 2023.
- By product, the polyglycolic acid segment is expected to grow at a CAGR of 14.13% during the forecast period.
- By application, the orthopedics segment has held the major market share of 45% in 2023.
- By application, the drug delivery segment is expected to expand at the fastest CAGR of 15.72% during the forecast period.
The global bioresorbable polymers market is experiencing significant growth driven by advancements in medical technology and increasing applications in biomedical and pharmaceutical sectors. Bioresorbable polymers, also known as biodegradable polymers, are designed to degrade and be absorbed by the body over time, eliminating the need for surgical removal. This market is characterized by innovations in materials science and growing demand for biocompatible solutions across various medical applications.
Get a Sample: https://www.precedenceresearch.com/sample/4241
Growth Factors
The growth of the bioresorbable polymers market is propelled by several factors. Increasing preference for minimally invasive surgeries and biodegradable implants is driving the adoption of bioresorbable polymers in orthopedics, cardiology, and drug delivery systems. Additionally, stringent regulations promoting the use of environmentally friendly materials in medical devices and implants are boosting market growth. Moreover, ongoing research and development efforts aimed at enhancing polymer properties and performance are expanding the scope of bioresorbable polymers in healthcare.
Region Insights
Regionally, North America and Europe lead the bioresorbable polymers market, primarily due to advanced healthcare infrastructure and high investments in research and development. These regions witness extensive adoption of bioresorbable materials in medical applications, supported by favorable government initiatives and increasing awareness about sustainable healthcare solutions. In Asia-Pacific, rapid industrialization and rising healthcare expenditure are driving market growth, with emerging economies like China and India emerging as key contributors to market expansion.
Bioresorbable Polymers Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 13.83% |
| Global Market Size in 2023 | USD 1.52 Billion |
| Global Market Size in 2024 | USD 1.73 Billion |
| Global Market Size by 2033 | USD 5.55 Billion |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Product, and By Application |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Bioresorbable Polymers Market Dynamics
Drivers
Key drivers of the bioresorbable polymers market include the growing prevalence of chronic diseases necessitating advanced treatment options, such as bioresorbable stents and implants. Moreover, the shift towards personalized medicine and customized healthcare solutions is fostering demand for innovative biomaterials with controlled degradation properties. Furthermore, collaborations between academic institutions, research organizations, and industry players are accelerating product development and commercialization, driving market growth.
Opportunities
The bioresorbable polymers market presents numerous opportunities for manufacturers and innovators. Expanding applications in tissue engineering, wound healing, and drug delivery systems offer significant growth potential. Moreover, partnerships with healthcare providers and academic institutions for clinical trials and product development can unlock new avenues for market expansion. Investments in biocompatibility testing and regulatory compliance can also position companies for success in this evolving market landscape.
Challenges
Despite the optimistic outlook, the bioresorbable polymers market faces challenges related to material performance and regulatory approval processes. Achieving the desired balance between mechanical strength, degradation rate, and biocompatibility remains a key challenge for polymer developers. Moreover, navigating complex regulatory frameworks across different geographies poses hurdles to market entry and product commercialization. Additionally, concerns regarding long-term clinical outcomes and safety of bioresorbable implants require continuous research and validation to build confidence among healthcare professionals and patients.
Read Also: Physical Therapy Rehabilitation Market Size, Share, Report By 2033
Bioresorbable Polymers Market Recent Developments
- In April 2024, With the introduction of a new end-to-end licensed technology called CAPSULTM for the continuous manufacturing of polycaprolactone (PCL), a biodegradable polyester frequently used in the packaging, textile, agricultural, and horticultural industries, Swiss technology company Sulzer is broadening its line of bioplastics.
- In November 2023, BASF’s most recent addition to its extensive line of chemicals for laundry detergent applications is BVERDE GP 790 L. This novel anti-redeposition polymer is easily biodegradable and was developed to satisfy consumer demand for products that prioritize sustainability without sacrificing functionality.
Bioresorbable Polymers Market Companies
- Corbion N.V.
- Evonik Industries AG
- Foster Corporation
- KLS Martin Group
- DSM Biomedical
- Ashland Global Holdings Inc.
Segment Covered in the Report
By Product
- Proteins
- Polylactic Acid
- Polysaccharides
- Polyglycolic Acid
- Polycaprolactone
By Application
- Orthopedics
- Drug delivery
- Others
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
Contact Us:
Mr. Alex
Sales Manager
Call: +1 9197 992 333
Email: sales@precedenceresearch.com
Web: https://www.precedenceresearch.com
Blog: https://www.expresswebwire.com/
Blog: https://www.uswebwire.com/
