Bioresorbable Medical Polymer and Material Market Analysis and Sze Forecasted for period from 2024 to 2031

Executive Summary

The Bioresorbable Medical Polymer and Material market research reports indicate a significant growth trajectory for the industry. With an expected CAGR of % during the forecasted period, the market is poised for tremendous expansion. This growth can be attributed to increasing awareness about the benefits of bioresorbable materials in medical applications, as they offer advantages such as biocompatibility, reduced risk of infection, and elimination of the need for surgical removal.

Market trends suggest a growing demand for bioresorbable medical polymers and materials in various medical fields such as orthopedics, cardiology, drug delivery systems, and tissue engineering. The increasing prevalence of chronic diseases and the rising geriatric population are also key factors driving market growth.

Geographically, the market for bioresorbable medical polymers and materials is segmented into North America, Asia Pacific, Europe, USA, and China. North America is a major market owing to the presence of established healthcare infrastructure and the increasing adoption of advanced medical technologies. Asia Pacific and China are emerging markets, fueled by rapid economic development, increasing healthcare expenditure, and a growing focus on improving healthcare outcomes.

In summary, the Bioresorbable Medical Polymer and Material market is set for growth, driven by increasing awareness about the benefits of these materials in medical applications. Market trends indicate a rising demand for bioresorbable materials across various medical fields, while geographically, North America, Asia Pacific, Europe, USA, and China are key regions contributing to market expansion.

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Market Segmentation:

This Bioresorbable Medical Polymer and Material Market is further classified into Overview, Deployment, Application, and Region. 

In terms of Components, Bioresorbable Medical Polymer and Material Market is segmented into:

• Evonik
• Corbion
• DSM
• Mitsui Chemicals
• PCAS
• Poly-Med
• KLS Martin

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The Bioresorbable Medical Polymer and Material Market Analysis by types is segmented into:

• PLA
• PGA
• PCL
• Polysaccharides
• Others

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The Bioresorbable Medical Polymer and Material Market Industry Research by Application is segmented into:

• Medical Devices
• Drug Delivery
• Others

In terms of Region, the Bioresorbable Medical Polymer and Material Market Players available by Region are:

North America:

• United States


• Canada

Europe:

• Germany


• France


• U.K.


• Italy


• Russia

Asia-Pacific:

• China


• Japan


• South Korea


• India


• Australia


• China Taiwan


• Indonesia


• Thailand


• Malaysia

Latin America:

• Mexico


• Brazil


• Argentina Korea


• Colombia

Middle East & Africa:

• Turkey


• Saudi


• Arabia


• UAE


• Korea

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Key Drivers and Barriers in the Bioresorbable Medical Polymer and Material Market

Key drivers in the bioresorbable medical polymer and material market include increasing demand for biodegradable materials in medical devices, advancements in technology for the development of bioresorbable polymers, and rising prevalence of chronic diseases requiring surgical interventions. Barriers to growth may include high cost of bioresorbable materials, stringent regulatory requirements for approval, and limited awareness among healthcare professionals.

Challenges faced in the market include the need for additional research and development to improve the properties and performance of bioresorbable materials, competition from traditional non-resorbable materials, and the limited availability of skilled professionals with expertise in bioresorbable polymers. Additionally, concerns about the degradation time and potential side effects of bioresorbable polymers may also hinder market growth.

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Competitive Landscape

Evonik, a leading player in the bioresorbable medical polymer market, has a strong history of innovation and expertise in developing high-quality polymers for medical applications. They offer a wide range of bioresorbable polymers for various medical devices such as sutures, implants, and drug delivery systems. The company has experienced significant growth in the market due to its focus on research and development and strategic partnerships with key players in the healthcare industry.

Corbion is another key player in the bioresorbable medical polymer market, specializing in providing sustainable solutions for medical applications. They offer a range of bioresorbable polymers derived from renewable resources, making them an environmentally friendly choice for medical device manufacturers. Corbion has shown strong market growth in recent years, with a growing demand for bioresorbable polymers in the healthcare sector.

DSM is a prominent player in the bioresorbable medical polymer market, known for its high-performance materials and innovative solutions for medical applications. The company has a long history of developing bioresorbable polymers for a variety of medical devices, including implants, sutures, and drug delivery systems. DSM has demonstrated consistent market growth, supported by its strong focus on research and development and commitment to sustainability.

In terms of sales revenue, Evonik reported sales of approximately $ billion in 2020, while Corbion reported sales revenue of around €986 million in the same year. DSM's sales revenue for 2020 was reported at around €9.0 billion. These figures highlight the strong market presence and growth trajectory of these key players in the bioresorbable medical polymer market.

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