PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397116
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397116
Bioresorbable Polymers Market size was valued at USD 1,410 Million in 2022, expanding at a CAGR of 12.5% from 2023 to 2030.
Bioresorbable polymers, which are often referred to as biodegradable or absorbable polymers, are substances that the body's natural metabolic processes are capable of breaking down. Among the often-encountered bioresorbable polymers are polysaccharides, polylactic acid (PLA), polyglycolic acid, proteins, and polycaprolactone.
Most often, bioresorbable polymers are used to create scaffolds, sutures, and stents that are inserted within the body during surgery to save the organ. To release medications under controlled circumstances, they can also be implanted into humans. Once the patient's organ begins to heal, bioresorbable polymers gradually breakdown and are absorbed by the body after serving their original purpose. These objects are removed from the patient without the need for a second surgical treatment since the body absorbs them on its own. For the patient, this means that the entire procedure is convenient and reasonably priced. For instance, in maxillofacial surgery, bioresorbable polymers are used to aid in the healing process and are dissolved when no longer needed. Today's consumers are more worried about their health since they don't want to undergo unnecessary medical operations or prescription drugs, which can weaken the body over time and have many detrimental effects.
The Global Bioresorbable Polymers Market is segmented based on Product, Application, and Region.
Based on the product, the market is bifurcated into Polylactic Acid, Polysaccharides, Polyglycolic Acid, Polycaprolactone, Proteins and Others. The Polylactic Acid segment is expected to dominate the market during the forecast period. Products based on PLA have the benefit of being safely eliminated by the body's excretory system and spontaneously converting into lactic acid in the body at low quantities. Furthermore, because of its biodegradable nature, it may dissolve and break down safely, obviating the need for additional surgery that involves the removal of its parts. In the field of lumbar interbody fusion, it is anticipated that the usage of bioresorbable polymer materials, such as PLA, will rise. Because of its stiffness, biocompatibility, reasonably high strength, and high modulus, polylactic acid is a good material to employ for creating fixation tools for orthopedic procedures, such as arrows, washers, pins, and screws.
Based on the application, the industry is segmented into Orthopedics, Drug Delivery and Others. The Orthopedics segment is expected to hold the largest market share during the forecast period. The frequency of orthopedic problems including osteoporosis, arthritis, and degenerative joint diseases has grown due to factors like obesity, sedentary lifestyles, expanding aging populations, and low physical activity levels. It is anticipated that this would in turn fuel product demand.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. This is explained by the region's growing product usage in orthopedics and medication distribution. The healthcare industry's research and development is mostly concentrated in the United States, which contributes to the growth of the market in North America. Furthermore, the need for bioresorbable polymers in the area is supported by the growing need for orthopedics and drug delivery applications. Based on information from the American Joint Replacement Registry (AJRR), more than 2.8 million knee and hip operations were carried out at 1,250 hospitals nationwide in 2022. This is a noteworthy 14% rise in the total recorded procedure volume over the previous year, making the AJRR the biggest arthroplasty registry in the world in terms of volume.
To solidify their position in the market, businesses are quickly increasing the scope of their manufacturing capacities. Industry participants have been forced to concentrate on consumer-specific product positioning strategies for higher penetration in the local markets due to governmental backing in several nations centered on environmental concerns as well as the growing demand for specialized orthopedic and drug delivery applications in the global population.
In November 2023, the most recent addition to BASF's extensive line of chemicals for laundry detergent applications is BVERDE® GP 790 L. This novel anti-redeposition polymer is easily biodegradable* and developed to satisfy consumer demand for goods that prioritize sustainability above performance.