IMARC Group, a leading market research company, has recently releases report titled “Bioresorbable Polymers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The study provides a detailed analysis of the industry, including the global bioresorbable polymers market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the bioresorbable polymers market?
The global bioresorbable polymers market size reached US$ 1.32 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.65 Billion by 2028, exhibiting a growth rate (CAGR) of 11.60% during 2023-2028.
What are Bioresorbable Polymers?
Bioresorbable Polymers refer to a class of polymers that can be broken down and absorbed by the body, typically used in medical applications such as sutures, stents, and drug delivery systems.
The characteristics of Bioresorbable Polymers include their ability to degrade into non-toxic components, compatibility with biological systems, tailor ability to specific medical needs, and adherence to stringent healthcare standards. The features of Bioresorbable Polymers encompass controlled degradation rates, flexibility in design, potential for drug incorporation, and alignment with minimally invasive procedures.
Modern bioresorbable polymers are also being developed with advanced properties such as improved mechanical strength, targeted functionality, and enhanced biocompatibility.
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What are the growth prospects and trends in the bioresorbable polymers industry?
The growing emphasis on patient-centric medical solutions, particularly in emerging economies, is one of the key factors driving the growth of the Bioresorbable Polymers market. In line with this, the increasing need for innovative medical devices and therapies that minimize long-term complications and promote healing is significantly contributing to market expansion.
Furthermore, the ability of Bioresorbable Polymers to offer temporary support and naturally dissolve over time, thus reducing the need for follow-up surgeries, is augmenting market growth. Besides this, the global focus on research and development in biomaterials, along with the evolving trends in personalized medicine, have escalated the demand for Bioresorbable Polymers. This factor, coupled with stringent regulatory requirements and the pursuit of excellence in medical care, is stimulating market growth.
Moreover, collaborations between material scientists, medical professionals, and industry players to develop optimized products are accelerating market expansion. The growth of the global economy, coupled with governmental policies supporting healthcare innovation and biotechnology, is creating a favorable market outlook. Other factors, such as investments in research and development, the emergence of startups specializing in Bioresorbable Polymers, and the ongoing exploration of new applications in areas like tissue engineering and regenerative medicine, are propelling market growth globally.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
- Polysaccharides
- Proteins
- Polylactic Acid
- Polyglycolic Acid
- Polycaprolactone
- Others
Breakup by Application:
- Drug Delivery
- Orthopedics
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Ashland Global Specialty Chemicals Inc.
- Bezwada Biomedical LLC
- Corbion N.V.
- Evonik Industries AG (RAG-Stiftung)
- Foster Corporation
- Nomisma Healthcare Pvt. Ltd.
- Poly-Med Incorporated
- Reva Medical LLC
- Seqens SAS
- Zeus Company Inc.
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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