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Bioresorbable Polymers Market Trends

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

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Bioresorbable Polymers Market Trends

There is a growing focus on sustainable and eco-friendly materials, with bioresorbable polymers finding increasing adoption in response to environmental concerns and regulatory support. The medical and pharmaceutical sectors continue to be significant drivers, with bioresorbable polymers playing a crucial role in medical devices and drug delivery systems. Ongoing research and development efforts are leading to the creation of new polymers with enhanced properties, expanding their applications across industries. Collaborations and partnerships between manufacturers, research institutions, and end-users are fostering innovation and accelerating the development of novel bioresorbable polymer products, further fuelling market growth.

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.