Polylactide (PLA)Segment byProductType Is Expected toDominate the MarketOver the Forecast Period
According to The Insight Partners market research study of ‘Bioresorbable Medical MaterialMarketto 2027 – Global Analysis and Forecasts by Product Type andApplication.’
The global bioresorbable medical material market is expected to reach US$ 1,942.13 Mn in 2027 from US$ 935.99 Mn in 2019. The market is estimated to grow with a CAGR of 9.7% from 2020-2027.The report provides trends prevailing in the global bioresorbable medical materialmarketand the factors driving market along with those that act as hindrances.
The bioresorbable medical material market, by product type, is segmented into Polylactide (PLA), Poly-L-lactide (PLLA), Poly-DL-lactide (PDLLA), Polyglycolide (PGA), and Copolymers of PLA and PGA (PGLA). The polylactide(PLA) segment held the largest share of the market in 2019 however the poly-DL-lactide (PDLLA) segment isanticipated to register the highest CAGR of 11.1% in the market during the forecast period.Due to the excellent mechanical properties and biocompatibility, PLA is used in various medical fields such as drug delivery systems and medical implants. PLAis also widely used in tissue engineering, and it finds a wide spectrum of applications in the medical field.
The growth of the market is attributed to some key driving factors such as increasing number of orthopedic surgeries, growinggeriatric population and rising adoption of bioresorbable polymers for medical use. However, challengesassociated with the use of bioresorbable materials for medical use and bassinet on global business due tocoronavirus pandemic are expected to restraint the growth of the market during the forecast years.
Leading companies operating in the bioresorbable medical material marketare Evonik. Foster Corporation, Poly-Med Corporation, Zeus Industrial Products, Inc., Ashland, Durect Corporation, Groupe PCAS, DSM,Corbion, and Putnam Plastics among others. The companies are focused towards adoption of organic strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in August 2019, Meril Life Sciences received CE marking for 100-micron bioresorbable scaffold that was indigenously designed, developed and manufactured inIndia.
The report segments global bioresorbable medical material market as follows:
Global Bioresorbable Medical MaterialMarket – ByProduct Type
- Polylactide (PLA)
- Poly-L-lactide (PLLA)
- Poly-DL-lactide (PDLLA)
- Polyglycolide (PGA)
- Polycaprolactone (PCL)
- Others
Global Bioresorbable Medical MaterialMarket – By Application
- Drug Delivery
- Medical Devices
- Orthopedics
- Others
Global Bioresorbable Medical MaterialMarket– By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- U.K
- Spain
- Italy
- Asia Pacific (APAC)
- China
- India
- Japan
- Australia
- South Korea
- Middle East & Africa (MEA)
- Saudi Arabia
- U.A.E
- South Africa
- South & Central America (SCAM)
- Brazil
- Argentina
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