Bioresorbable Polymers Market Size, Trends, Share, Growth | Report 2022-2030
The global bioresorbable polymers market was surpassed at USD 1.2 billion in 2021 and is expected to hit around USD 3.84 billion by 2030, growing at a CAGR of 13.8% from 2022 to 2030.
Report Highlights
Technological advancements, innovations in plastics, and evolved decontamination devices are boosting the product demand, thereby augmenting the industry's growth. The growing geriatric population in both developed and developing nations and the resultant rise in the cases of chronic conditions, such as Cardiovascular Disorders (CVDs), diabetes, and other lifestyle disorders, will increase the drug delivery application demand, thereby driving the industry.
Governments across the globe have set stringent regulations due to increasing environmental concerns. This is also promoting the demand for sustainable and innovative bioresorbable polymers around the world. This high demand is attributed to the fact that these polymers have lesser emissions and offer enhanced efficiency & biocompatibility in the medical & healthcare industries. Companies are spending heavily on developing adhesives products, which are non-ozone depleting and free from Volatile Organic Compounds (VOCs), solvents, and toxins. In November 2021, Evonik Industries AG increased its portfolio for bioresorbable polymer, in lieu of customizable properties for supporting innovations of customers.
The company offers RESOMER PrintPowder for 3D printing used for the manufacturing of medical devices. Furthermore, the company has expanded its portfolio of 3D printing services and GMP-grade bioresorbable polymers for SLS printing. Bioresorbable polymers have been in usage for a long time and manufacturers in the medical industry are extensively working to widen the application scope to create new avenues. It is used mainly in biomedical applications like orthopedics, tissue engineering, nanomedicines, drug delivery, and others. It also decreases the post-surgery risk to the patient without causing any threat to the human body.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 1.2 billion |
| Revenue Forecast by 2030 | USD 3.84 billion |
| Growth rate from 2022 to 2030 | CAGR of 13.8% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Product, application, region |
| Companies Covered |
Corbion NV; Evonik Industries AG; Poly-Med Inc.; Foster Corp.; Abbott; KLS Martin Group; 3D Biotek LLC; Sunstar Suisse S.A.; DSM; Futerro |
Product Insights
Polylactic Acid (PLA)-based bioresorbable polymers dominated the industry and accounted for more than 29.3% of the overall demand in 2021. Polylactic acid exhibits stiffness, biocompatibility, and relatively high strength and high modulus, making it suitable for use in the manufacturing of fixation devices, such as arrows, washers, pins, and screws in orthopedic surgeries. PLA-based product has the advantage of getting naturally converted into lactic acid in the body at low concentrations and can be safely removed by the body’s excretory system. Also, its degradable nature allows it to safely degrade and dissolve, thus eliminating the need for secondary surgery, which requires component removal.
On account of rapid degradation as compared to other biopolymers, polyglycolic acid has witnessed growing demand in drug delivery applications. Polyglycolic acid is used for protein delivery, chemotherapeutics, vaccines, analgesics, antibiotics, siRNA, and anti-inflammatory drugs. Most often, the bioresorbable polymers are categorized into microcapsules, microspheres, nanofibers, and nanospheres to facilitate the controlled delivery of adsorbed or encapsulated payloads. Another product of bioresorbable polymer is Polycaprolactone (PCL), which is expected to grow at a steady rate by 2030. It is an excellent biomedical polymer and is widely used in bone-tissue engineering owing to its properties, such as biocompatibility, high mechanical strength, and low cost compared to other polymers, which has resulted in significant product demand.
Application Insights
Orthopedics emerged as the dominant application segment in 2021 and accounted for more than 43.67% share of the global revenue owing to their various products like sutures, screws, stents, and pins used in different medical procedures. The wide product usage in the biomedical settings, including prostheses and repairing injured joints, among others is boosting the segment growth. Resorbable polymer-based implants enhance patient care and clinical results while lowering the expense of further procedures and surgeries. The drug delivery application is predicted to witness the fastest growth rate during the forecast period.
The increasing demand for these polymers in medical applications is due to the unwillingness of patients to take injections. To avoid the necessity for a second operation, the medication delivery matrix is implanted within the human body. These factors are expected to propel industry growth. The high demand for these polymers due to their simplicity in dissolving in bodily fluids without leaving any lasting negative effects and the increase in demand for medication delivery applications fuel the market's expansion. The huge demand for the product in biomedical settings, including prostheses and repairing injured joints, among other uses, and the favorable government reimbursement are expected to boost the global bioresorbable polymer market.
Regional Insights
North America dominated the global industry and accounted for the largest revenue share of more than 32.04% in 2021. This is attributed to the increasing product consumption in drug delivery and orthopedics applications in the region. The U.S. is the major hub for research & development in the healthcare industry, further driving the bioresorbable polymers sector in North America. Moreover, the rising demand for orthopedics and drug delivery applications also supports this region’s bioresorbable polymers demand. The Asia Pacific is anticipated to be the fastest-growing region from 2022 to 2030, in terms of both value and volume.
High economic growth in emerging countries and the increasing disposable income of people make APAC an attractive market for bioresorbable polymers. Other factors contributing to the growth of the market in APAC are the presence of high-growth economies, such as India, China, and Japan; rapid growth in the geriatric population; an increasing number of hospitals; supportive reimbursement policies; the implementation of favorable government initiatives; rising per capita income; high investments in the healthcare industry; demand for cutting-edge surgery products; and the expansion of private-sector hospitals to rural areas.
Moreover, the rising demand for polymers in drug delivery and orthopedics applications coupled with the increased healthcare spending is projected to fuel the demand for the product in the region. The increased healthcare spending and rising demand for polymers in drug delivery & orthopedics applications are also projected to fuel the product demand in APAC. India and the U.S. collaborated to promote orthopedic research and education, which is expected to further drive the demand for bioresorbable polymers. In March 2022, Shalby Advanced Technologies, headquartered in Gujarat, collaborated with Gardner Orthopedics, based in the U.S., to form Advanced Orthopedic Centres of Excellence in India, Fort Myers, and Florida.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Bioresorbable Polymers Market
5.1. COVID-19 Landscape: Bioresorbable Polymers Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Bioresorbable Polymers Market, By Product
8.1. Bioresorbable Polymers Market, by Product, 2022-2030
8.1.1. Polysaccharides
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Proteins
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Polylactic Acid
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Polyglycolic Acid
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Polycaprolactone
8.1.5.1. Market Revenue and Forecast (2017-2030)
8.1.6. Others
8.1.6.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Bioresorbable Polymers Market, By Application
9.1. Bioresorbable Polymers Market, by Application, 2022-2030
9.1.1. Drug Delivery
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Orthopedics
9.1.2.1. Market Revenue and Forecast (2017-2030)
9.1.3. Others
9.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Bioresorbable Polymers Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 11. Company Profiles
11.1. Corbion NV
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Evonik Industries AG
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Poly-Med Inc.
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Foster Corp.
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Abbott
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. KLS Martin Group
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. 3D Biotek LLC.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Sunstar Suisse S.A.
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. DSM
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Futerro
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers