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Bioresorbable Polymers Market Analysis

  • Report ID: GMI7143
  • Published Date: Oct 2023
  • Report Format: PDF

Bioresorbable Polymers Market Analysis:

Bioresorbable Polymers Market Size, By Polymer Type, 2021 - 2032 (USD Billion)

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Based on polymer type, polylactic acid (PLA) holding a substantial market share around 34.6% in 2022 primarily driven by its biocompatibility and widespread applications. Polyglycolic Acid (PGA) had a significant presence in the medical field, notably in surgical sutures. Polycaprolactone (PCL) was also notable, with applications in medical devices and tissue engineering. Polyhydroxyalkanoates (PHA) had been gaining ground in various industries due to their versatility. The category "Others" represented various bioresorbable polymers with smaller but niche market shares.
 

Bioresorbable Polymers Market Revenue Share (%), By Application, (2023)

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Based on application, medical devices hold a significant share, of 54% bioresorbable polymers market share in 2022 underpinned by their essential use in sutures, stents, and drug delivery systems. Pharmaceuticals also hold a significant share, leveraging bioresorbable polymers for controlled drug release. The packaging industry has witnessed a notable rise in market share due to eco-friendly packaging solutions, with bioresorbable polymers offering sustainable alternatives. Tissue engineering is another growing segment, with scaffolds for regenerative medicine. Agriculture, while smaller, is experiencing increased adoption of bioresorbable polymers for sustainable practices such as controlled-release fertilizers and biodegradable mulch films.

 

U.S. Bioresorbable Polymers Market Size, 2021- 2032 (USD Million)

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North America dominated the Bioresorbable Polymers market, accounting for a major share of around 39.4% in 2022 The region's market dominance was attributed to a robust healthcare sector, increased adoption of eco-friendly materials, and rigorous research and development activities. The United States, being a key player in the medical and pharmaceutical industries, contributed significantly to the growth of bioresorbable polymers, especially in medical devices and drug delivery systems.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size pf bioresorbable polymers was worth USD 1.4 billion in 2023 and is anticipated to witness over 14.7% CAGR between 2023 and 2032 due to rising awareness of environmental sustainability coupled with higher application scope in medical, pharmaceutical, and packaging sectors.

The medical devices application segment held 54% of the market share in 2022 owing to higher adoption in sutures, stents, and drug delivery systems.

North America garnered 39.4% of the bioresorbable polymers industry revenue share in 2022 attributed to the presence of robust healthcare sector and the increased adoption of eco-friendly materials in the region.

Corbion N.V., Evonik Industries AG, Poly-Med, Inc., Mitsui Chemicals, Inc., Foster Corporation, KLS Martin Group, and Ashland Global Holdings are some of the market players.

Bioresorbable Polymers Market Scope

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  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 136
  • Countries covered: 21
  • Pages: 120
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