Global Bioresorbable Polymers Market - 2023-2030

Market Overview

The Global Bioresorbable Polymers Market reached US$ 1.2 billion in 2022 and is expected to reach US$ 3.3 billion by 2030 growing with a CAGR of 13.4% during the forecast period 2023-2030.

The significant growth in the bioresorbable polymer market is due to increasing demand from various sectors named as automotive, healthcare and packaging. It offers several advantages in medical appliances due to which the bioresorbable polymer market demand increases. One of the key factors where the bioresorbable market is growing is that it offers materials that are compatible with the human body which reduces the risk of infections.

Asia-Pacific emerged with prominent growth in the bioresorbable polymer market and there is substantial growth in countries like China, Japan and India. The region witnessed significant growth opportunities for bioresorbable polymers, driven by factors such as increasing healthcare demand, a supportive regulatory environment and a robust manufacturing ecosystem.

For instance, on 21 April 2021, scientists from the University of California, Berkeley invented a solution that breaks compostable plastics easily with the help of heat and water. These solutions apply to other types of polyester plastics. This solution also includes enzymes that are protected by polymers but when these enzymes are exposed to heat and water then plastic polymer breaks into constitute components.

Market Dynamics

Advancements and Applications of Bioresorbable Polymers in Orthopedic Surgeries

Bioresorbable polymers witnessed significant growth in the medical field due to their unique potential applications. Bioresorbable polymers found various applications in orthopedic surgeries that include fracture fixations and bone tissue regeneration. With the help of bioresorbable polymer, it eliminates the need for surgery and infections. They temporarily fix the fractured bones and degrade gradually when bones start healing.

The field of medical technology witnessed development, For instance, on 1 Feb 2021, 3D bioresorbable CMF plates were launched. Due to the sufficient strength of the bioresorbable polymer, it replaces traditional devices with metallic materials. Bioresorbable polymers named L-lactide and caprolactone with a combination of fuse filament systems. For instance, on 8 Dec 2021, BMF and 4D biomaterials announce the first 4Degra bioresorbable materials this material degrades in the body. These materials solve design and biocompatibility issues.

Environmental Concerns and Sustainable Packaging Demand

Bioresorbable polymers witnessed the highest growth in the packaging industry due to an increase in environmental factors and increasing demand for sustainable packaging solutions. The bioresorbable polymer also called biodegradable polymer in which materials naturally break down. One of the key factors that drives the growth of bioresorbable polymers in the packaging industry as consumers are moving towards biodegradable plastics which cause less pollution compared to traditional plastics.

A significant step towards reducing single-use plastics and promoting sustainable packaging there is various collaborations, For instance, on 16 Jun 2021, news published in Mint that DRDO collaboration with Acharya Nagarjuna University and Ecolastic private limited launched a biodegradable packaging product made from plant-based food grade and natural materials which is a naturally safe product that doesn't harm the environment. The product has the aim of reducing single-use plastics. These plastic bags are cost-effective, sustainable and ocean-safe.

High Production Cost

High production cost is a major factor for this bioresorbable polymer market. Many companies find it difficult to invest in bioresorbable polymers because the production of this product requires a large manufacturing scale. Additionally, the usage of renewable feedstocks leads to higher costs. The higher cost of bioresorbable polymers hinders the growth of bioresorbable in many industries.

Consumer acceptance plays a very important role in the adoption of bioresorbable polymers in the market. The growth of this bioresorbable polymer depends on consumers' understanding of its applications and benefits. Building trust among consumers related to this market is very crucial for its growth. For the growth and awareness of this market, it requires social media, websites and packaging labels which are cost-effective.

COVID-19 Impact Analysis

In the early stages of COVID-19 bioresorbable polymer market faces disruptions. Due to the pandemic, many manufacturing facilities are temporarily shut down and delayed. The healthcare sector dealing with a decrease in non-essential medical procedures. This impacts the demand for bioresorbable polymer-based medical devices.

COVID-19 pandemic measures focus mainly on drug delivery systems. For vaccines and therapy, bioresorbable polymers can be utilized. This increases the demand for drug delivery systems including microparticles, nanoparticles and scaffolds. Bioresorbable polymers play a crucial role in tissue engineering scaffolds, providing temporary support for cell growth and tissue regeneration.

Russia-Ukraine War Impact

Russia-Ukraine war impacts supply chains of bioresorbable polymers. There are disruptions in transportation routes and manufacturing facilities are affected. It leads to delays in production and distribution. This conflict causes an environment of economic and political instability.

Trade relations between Russia and Ukraine, as well as with other countries involved in the war are affected. Trade barriers, export restrictions, or changes in import and export regulations disrupt the flow of bioresorbable polymers. This impacts international trade and potentially limits market access for manufacturers and suppliers. During the war, healthcare resources are often redirected to address urgent medical needs.

Segment Analysis

The global bioresorbable polymers are segmented based on type, application and region.

Polymer-Based Drug Delivery Systems

There is a significant advancement in the field of drug delivery systems which has made bioresorbable polymers grow in the segment, leading it to cover nearly 35.5% globally. Bioresorbable polymers provide a platform that controls drug delivery systems. This polymer's material is designed to degrade the body over time and eliminates surgical complications. These polymers are biocompatible which means they are well-adaptable by the body and don't release any toxicity.

Scientists growing significant breakthroughs for ocular drug delivery systems, For instance on 18 April 2023, a report by MCDOUGALL Communications in which a scientist from the Center for Ocular Research and Education fabricated a microfluid chip that evaluates the contact lens-based drug release. For better-evaluating drug delivery, scientists designed a soft hydrogel eyes model that includes the upper and lower eyelid. The eyeball and lower eyelid were 3D bio printed which breakthroughs the ocular drug delivery system.

Geographical Penetration

Asia-Pacific Government's Initiatives and Innovations Driving Sustainable Solutions

Asia-Pacific has significant growth in the bioresorbable market and government support has made the region cover more than 58.4% in the forecast period. As growing population plastic pollution also increases in countries named India, China and Singapore government has taken various initiatives to reduce plastic waste.

News by Biospectrum Asia edition, there is a collaboration between Osterpore International and the national university of Singapore startup, For instance, on 11 Dec 2020 named Magloy Tech launched its first fully degradable facial bone fixation solution which consists of magnesium plates and screws. The bioresorbable polymer bone implant dissolves in carbon dioxide and water. This solution leaves zero residues after the wound is cured.

Competitive Landscape

The major global players in the market include: Ashland Global Holdings Inc, Corbion N.V, Evonik Industries AG, Poly-Med Inc, KLS Martin Group, Foster Corporation, Zeus Industrial Products, Seqens Group, REVA Medical, LLC, Nomisma Healthcare Pvt. Ltd.

Why Purchase the Report?

• To visualize the global bioresorbable polymers market segmentation based segmented based on type, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of bioresorbable polymers market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Application mapping available as excel consisting of key application of all the major players.

The global bioresorbable polymers market report would provide approximately 53 tables, 49 figures and195 Pages

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies