According to Fact.MR analysis of the global bioresorbable polymers market, the bioresorbable polymers market had global sales of US$ 1.3 billion in 2021. The anticipated market growth between 2022 and 2032 is anticipated to be higher than the historical growth, at 15.8%. With a CAGR of over 16.5% between 2022 and 2032, biopolyesters are anticipated to generate the highest amount of revenue.
The bioresorbable polymers market refers to the market for synthetic polymers that are designed to break down and be absorbed by the body over time. These polymers are often used in medical applications, such as in drug delivery systems, surgical sutures, and orthopedic implants. The market for bioresorbable polymers is expected to grow significantly in the coming years, driven by factors such as the increasing demand for advanced medical technologies, the growing prevalence of chronic diseases, and the rise in geriatric population.
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Key Takeaways from the Study
- Bioresorable Polymers market was valued at US$ 1.3 Bn in 2021. According to Fact.MR, Bioresorable Polymers revenue would increase 4.1X between 2022 and 2032, reaching roughly US$ 6.2 Bn in 2032.
- In terms of Product Type, Biopolyesters is projected to account for the highest projected CAGR of over 16.5%.
- In terms of application, revenue through Orthopedics accounted for the highest CAGR of 13.2% during 2017-21.
- US is the dominant country in Bioresorable Polymers market with an expected absolute dollar growth opportunity of over US$ 1.7 Bn.
- In March 2021, Ashland Global Holdings Inc. expanded the production plant for its Viatel bioresorbable polymer and relocated its research and development (R&D) activities from Dublin to Mullingar's National Science Park.
- In September 2020, Corbion and Total announced plans to develop a new polylactic acid bioplastics plant in Europe. The plant, which will be Europe's first global-scale Polylactic acid production facility, is estimated to have a capacity of 100 thousand tonnes per year. The new factory is scheduled to open in 2024 and will be located in France. This additional polylactic acid investment will hasten plans to increase lactic acid production and meet the increasing demand for polymers.
Key Companies Covered
- Corbion N V
- Evonik Industries AG
- Poly-Med, Inc.
- KLS Martin Group
- Foster Corporation
- Ashland Global Holdings Inc.
- DSM Biomedical, Inc
- Zeus Industrial Products, Inc
- REVA Medical, LLC.
- Poly-Med Incorporated
- Bezwada Biomedical
- Nomisma Healthcare Pvt. Ltd.
Key Questions Covered in the Bioresorbable Polymers Market
More Insights Available Fact.MR, in its new offering, presents an unbiased analysis of the Bioresorable Polymers Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Bioresorable Polymers in terms of by Product Type (Biopolyesters, Agro-polymers), Application (Orthopedics, Drug Delivery, Other Applications) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).