Bioresorbable Polymers Market Size to Rake USD 5.55 Bn By 2033

The global bioresorbable polymers market size is estimated to rake around USD 5.55 billion by 2033, growing at a CAGR of 13.83% from 2024 to 2033.

Key Points

• The North America bioresorbable polymers market size accounted for USD 500 million in 2023 and is expected to rise around USD 1,830 million by 2033.
• North America has held the largest share of 33% in 2023.
• Asia Pacific is emerging as the fastest-growing region in the global market.
• By product, the polylactic acid segment led the market with the biggest market share of 31% in 2023.
• By product, the polyglycolic acid segment is expected to grow at a CAGR of 14.13% during the forecast period.
• By application, the orthopedics segment has held the major market share of 45% in 2023.
• By application, the drug delivery segment is expected to expand at the fastest CAGR of 15.72%  during the forecast period.

The global bioresorbable polymers market is experiencing significant growth driven by increasing demand for biodegradable materials in various medical and pharmaceutical applications. Bioresorbable polymers, also known as biodegradable polymers, are designed to degrade naturally within the body over time, eliminating the need for removal surgeries. These polymers find extensive use in medical implants, drug delivery systems, and tissue engineering due to their biocompatibility and ability to degrade into non-toxic byproducts.

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Growth Factors

Several factors are fueling the growth of the bioresorbable polymers market. Growing awareness about environmental sustainability and the shift towards eco-friendly materials in healthcare drive the adoption of bioresorbable polymers. Moreover, advancements in polymer science and technology have led to the development of novel biomaterials with enhanced mechanical properties and controlled degradation rates, expanding their applications across various medical fields.

Region Insights

The market for bioresorbable polymers exhibits regional variations in adoption and market dynamics. North America and Europe lead in market share, attributed to strong healthcare infrastructure, favorable regulatory policies, and high healthcare expenditures. Asia-Pacific is expected to witness rapid growth due to increasing healthcare investments, rising prevalence of chronic diseases, and a growing geriatric population demanding advanced medical treatments.

Bioresorbable Polymers Market Scope

Bioresorbable Polymers Market Dynamics

Drivers

Key drivers stimulating the bioresorbable polymers market include the rising incidence of chronic diseases necessitating advanced medical interventions, such as implantable devices and drug delivery systems. Additionally, the trend towards minimally invasive surgeries and the demand for implants that degrade over time without requiring surgical removal propel market growth. Furthermore, research and development activities focused on enhancing polymer properties and exploring new applications contribute to market expansion.

Opportunities

The bioresorbable polymers market presents several opportunities for industry players. Collaborations between polymer manufacturers, medical device companies, and research institutions can lead to innovative product development and market expansion. Emerging economies with improving healthcare infrastructure offer untapped growth potential for bioresorbable polymer applications in medical devices and drug delivery systems. Moreover, increasing investments in regenerative medicine and tissue engineering create new avenues for bioresorbable polymer utilization.

Challenges

Despite the promising outlook, the bioresorbable polymers market faces challenges such as high production costs associated with advanced biomaterials and stringent regulatory requirements for medical applications. Limited long-term clinical data on the performance of bioresorbable implants and variability in degradation rates among individuals pose challenges for widespread adoption. Addressing these challenges requires continuous research, technological advancements, and collaboration among stakeholders to drive market growth sustainably.

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Bioresorbable Polymers Market Recent Developments

• In April 2024, With the introduction of a new end-to-end licensed technology called CAPSULTM for the continuous manufacturing of polycaprolactone (PCL), a biodegradable polyester frequently used in the packaging, textile, agricultural, and horticultural industries, Swiss technology company Sulzer is broadening its line of bioplastics.
• In November 2023, BASF’s most recent addition to its extensive line of chemicals for laundry detergent applications is BVERDE GP 790 L. This novel anti-redeposition polymer is easily biodegradable and was developed to satisfy consumer demand for products that prioritize sustainability without sacrificing functionality.

Bioresorbable Polymers Market Companies

• Corbion N.V.
• Evonik Industries AG
• Foster Corporation
• KLS Martin Group
• DSM Biomedical
• Ashland Global Holdings Inc.

Segment Covered in the Report

By Product

• Proteins
• Polylactic Acid
• Polysaccharides
• Polyglycolic Acid
• Polycaprolactone

By Application

• Orthopedics
• Drug delivery
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East & Africa

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Prathamesh

I have completed my education in Bachelors in Computer Application. A focused learner having a keen interest in the field of digital marketing, SEO, SMM, and Google Analytics enthusiastic to learn new things along with building leadership skills.

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