Bioresorbable Polymers Market Growth and Forecast by 2028

The Bioresorbable Polymers Market was valued at US$ 3,260.07 million in 2021 and is projected to reach US$ 6,463.07 million by 2028. It is expected to grow at a CAGR of 10.3% from 2021 to 2028.

Bioresorbable polymer-based implants are being widely used for fracture fixation in orthopedic surgery. Orthopedic implants, such as interference screws, plates, pins, suture anchors, meniscal repair implants, and simple fracture fixation implants, are the most commonly used resorbable implants for anterior cruciate ligament reconstruction, shoulder surgery, meniscal repair, and fracture care. When these implants are added to the body, they perform the desired action, and once done, these implants get absorbed in the body by themselves. These resorbable polymer-based implants include sutures, screws, stents, plates, pins, and others used in various orthopedics sub-applications, such as trauma, hip, knee, spine, joint, and other injuries. These implants break down naturally after implantation, during the healing and supporting process. Thus, the rise in the road and on-site accidents are fueling the demand for orthopedic implants and, subsequently, driving the bioresorbable polymers market growth.

Bioresorbable Polymers Market: Strategic Insights

Impact of COVID-19 Pandemic on Bioresorbable Polymers Market

The ongoing COVID-19 pandemic is anticipated to cause considerable disruptions in the growth of various industries globally. However, the uncertainty regarding the future outbreak, especially in countries such as India and a few other Asian countries, has altered the status of several industrial sectors. The governments of various Asia Pacific countries have taken possible steps to restrict the spread of the virus by announcing a country-wide lockdown, which directly impacts the growth of industrial sectors. The shutdown of manufacturing units and the disruption in the supply chain has obstructed the market. In India, there has been a reduction in road accidents during the COVID pandemic. According to the Minister for Road Transport and Highways, there was s 26,48% reduction in road accidents. A reduction in road accidents has led to a reduced case for tissue engineering, which will reduce the demand for medical implants, thus negatively impacting the bioresorbable polymer market.

Market Insights
Increasing Application of 3D Scaffold Printing for Tissue Engineering

The increasing application of bioresorbable polymers to create organ-like structures using 3D scaffold printing for tissue engineering is gaining significant traction in the healthcare industry. Bioresorbable polymers contain excellent cell adhesion properties, making them suitable for tissue engineering applications, such as bone, tendon, cartilage, tooth, and spinal regeneration. These polymers are fabricated into scaffolds using various techniques, such as electrospinning and polymers printing, to create microstructures and nanomaterials that facilitate tissue development. 3D scaffold printing can produce highly complex designs with controllable features for efficient and smooth tissue engineering. The application of bioresorbable polymers for 3D scaffold printing is expected to be the future trend in tissue regenerating treatment and in this market over the forecast period.

Type Insights

Based on the type, the global bioresorbable polymers market is segmented into polylactic acid (PLA), polyglycolic acid (PGA), polydioxanone, polycaprolactone (PCL), others. The Polyglycolic Acid (PGA) segment led the bioresorbable polymers market with a largest revenue share of the market in 2020.

Application Insights

Based on the application, the global bioresorbable polymers market is segmented into orthopedic devices, drug delivery, and others. The orthopedic devices segment led the bioresorbable polymers market in 2020.

Bezwada Biomedical, LLC; Evonik Industries AG; Foster Corporation; Ashland; Musashino Chemical Laboratory, Ltd.; Huizhou Foryou Medical Devices Co., Ltd.; Polysciences, Inc.; BMG; Poly-Med Incorporated; And Reva Medical, LLC., are the key bioresorbable manufacturers across the world. These players are actively focusing on product innovation to develop more bioabsorbable materials that suit the human body without leaving any side effects.

The regional trends and factors influencing the Bioresorbable Polymers Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Bioresorbable Polymers Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Bioresorbable Polymers Market Report Scope

Bioresorbable Polymers Market Players Density: Understanding Its Impact on Business Dynamics

The Bioresorbable Polymers Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Report Spotlights

• Progressive industry trends in the bioresorbable polymers market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the bioresorbable polymers Market from 2019 to 2028
• Estimation of global demand for bioresorbable polymers
• Porter's analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors driving and restraining the growth of the bioresorbable polymers market
• Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the bioresorbable polymers market size at various nodes
• Detailed overview and segmentation of the market, as well as the bioresorbable polymers industry dynamics
• Size of the bioresorbable polymers market in various regions with promising growth opportunities

Bioresorbable polymers Market – by type

• Polylactic Acid (PLA)
• Polyglycolic Acid (PGA)
• Polydioxanone, Polycaprolactone (PCL)
• Others

Bioresorbable polymers Market – by application

• Orthopedic Devices
• Drug Delivery
• Others

Company Profiles

• Bezwada Biomedical, LLC
• Evonik Industries AG
• Foster Corporation
• Ashland
• Musashino Chemical Laboratory, Ltd.
• Huizhou Foryou Medical Devices Co., Ltd.
• Polysciences, Inc.
• BMG
• Poly-Med Incorporated
• Reva Medical, LLC.