Home > Chemicals & Materials > Polymers > Medical Polymers > Bioresorbable Polymers Market

Bioresorbable Polymers Market Size

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

Download Free Sample

Bioresorbable Polymers Market Size

Bioresorbable Polymers Market size was valued at USD 1.4 billion in 2023 and is anticipated to grow a CAGR of over 14.7% between 2024 and 2032.

To get key market trends

Download Free Sample

Polylactic Acid (PLA), Polyglycolic Acid (PGA), and Polycaprolactone (PCL) are among the key polymer types contributing to market expansion, as they find application in medical devices, pharmaceutical drug delivery systems, and eco-friendly packaging materials.

Bioresorbable Polymers Market Report Attributes
Report Attribute	Details
Base Year:	2023
Bioresorbable Polymers Market Size in 2023:	USD 1.4 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	14.7%
2032 Value Projection:	USD 5.19 Billion
Historical Data for:	2018 - 2023
No. of Pages:	120
Tables, Charts & Figures:	136
Segments covered:	Polymer, Application & Region
Growth Drivers:	Growing Pharmaceutical Industry Medical Advancements Growth in Packaging Industry
Pitfalls & Challenges:	Limited Mechanical Properties

Learn more about the key segments shaping this market

Download Free Sample

The growth in tissue engineering and agriculture sectors further propels the market, with bioresorbable polymers facilitating tissue regeneration and sustainable agricultural practices. As the global emphasis on biodegradability and eco-friendliness continues to grow, the market is poised for continued expansion and innovation in various industries.

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.