Bioresorbable Polymers Market - Forecast(2023 - 2028)

Report Code: CMR 30192 Report Format: PDF + Excel

Bioresorbable Polymer Market Overview

Bioresorbable Polymer market size is forecast to reach US$1.8 billion by 2027 after growing at a CAGR of 9.2% during 2022-2027. The Bioresorbable Polymer Industry is a major innovation in the world of polymer design, which is also referred to as Bioresorbable or degradable polymers. These kinds of polymer materials are safely absorbed by the body, so that the materials from which construction is made disappear over time, without causing any side effects to the patient. The most common form of the bioresorbable polymer is polylactic acid (PLA), which is also referred to as polylactide, and is formed from a lactide monomer. PLA is considered the main building block for the bioresorbable polymer market. The most common derivatives of the PLA in the market are poly-L-lactide (PLLA), poly-D-lactide (PDLA), and poly-DL-lactide (PDLLA). When within the body, the PLA degrades into lactic acid, a non-toxic chemical that occurs naturally within the body. Other major types include Polyglycolic acid, Polysaccharides, and Polycaprolactone. These types of Bioresorbable polymers are utilized mainly in orthopedic implants and oral drug delivery as it is cost-effective and patient-friendly. Furthermore, the Surge in the demand for Bioresorbable Polymers from hospitals and healthcare facilities are some of the major factors driving the Bioresorbable Polymer market growth during the forecast period.

COVID-19 Impact

The recent outbreak of COVID-19 indicates that several developing and developed economies were not well-equipped to prevent the disease from spreading. Several countries lack suitable healthcare infrastructure to face the COVID-19 pandemic. As of May 2020, nearly 3.8 million population around the world has been affected by coronavirus with a nearly 17% fatality rate. These aforementioned COVID impacts are expected to burden the revenue trajectory of the global Bioresorbable Polymer market over the forecast timeline. Also, due to supply chain disruptions such as raw material delays or non-arrival, disrupted financial flows, and rising absenteeism among production line staff, OEMs have been forced to function at zero or partial capacity, resulting in lower demand and consumption for Bioresorbable polymers in 2020-2021. But the governments of various countries are expected to increase their healthcare spending over the coming years to fight similar situations in the future. This is expected to ensure a positive demand for various healthcare infrastructure products, including Bioresorbable Polymer during the forecast period.

Report Coverage

The report: Bioresorbable Polymer Market – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Bioresorbable Polymer Market.

By Type: Polylactic acid (PLA) / Polylactide (Poly-L-Lactide (PLLA), Poly-D-Lactide (PDLA), Poly-DL-Lactide (PDLLA)), Polyglycolic acid (PLGA) / Polyglycolide (PG), and Others.
By Application: Healthcare and Medical Devices (Orthopaedic implants, Suture anchors, Fracture plates and Others), and Pharmaceuticals (Oral Drug Delivery, and Others).
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (the Middle East, and Africa).

Key Takeaways

  • North America mainly dominates the Bioresorbable Polymer market, owing to the expanding application scope in the Healthcare and pharmaceuticals. The United States is expected to be the largest market in the North American region.
  • Asia-Pacific has a rising demand for bioresorbable polymers in growing healthcare industries in emerging economies allied with increasing consumer awareness in the region is likely to boost demand for the market in these regions.
  • The acceptance of advanced medical implant devices by patients globally is acting as a major driver for the Bioresorbable Polymer market.
  • However, these devices remain as high-cost spending for the various middle class and lower class people to afford, which, hence being a growth restraint for the Bioresorbable market. 

 Figure: North America Bioresorbable Polymer Market Revenue, 2021-2027 (US$ Billion)

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Bioresorbable Polymer Market Segment Analysis – By Type

The Polylactic acid (PLA) / Polylactide segment held the largest share of 38% in the Bioresorbable Polymer market in 2021. The most common form of bioresorbable polymer used is polylactic acid (PLA), which is also referred to as polylactide and is formed from a lactide monomer. PLA is considered the main building block for the bioresorbable polymer market. The most commonly used derivatives of PLA are poly-L-lactide (PLLA), poly-D-lactide (PDLA), and poly-DL-lactide (PDLLA). When within the body, PLA degrades into lactic acid, a non-toxic chemical that occurs naturally within the body. Polyglycolic acid (PGA), or polyglycolide (PG), is another sort of bioresorbable polymer usually used for bioresorbable sutures and fracture plates. The material can be copolymerized with lactic acid to form polylactic-co-glycolic acid (PLGA), with e-caprolactone to form polyglycolide-co-caprolactone (PGCL), and with tri-methylene carbonate to form polyglycolide-co-tri-methylene carbonate (PGA-co-TMC). PGA degrades to form glycolic acid. The degradation time and mechanical properties of the bioresorbable polymer can be modified accordingly to the selected application by adjusting the relative molecular weight, crystallinity, and hydrophilicity of the polymer. This is specifically, achieved by varying the percentage of polylactide D or L forms, and polyglycolide. Due to such advantages, the Bioresorbable polymer is widely accepted by doctors and patients globally. According to the report of the European Bioplastics conference held in 2020, it is stated “The demand is rising, and with more sophisticated applications and products emerging, the market for bioplastics is continuously growing and diversifying. Global bioplastics production capacity is set to increase from around 2.11 million tons in 2020 to approximately 2.87 million tons in 2025.” It has also more specifically added that the polylactic acid (PLA), production capacities will continue to increase and diversify within the next 5 years. As a result, the demand for Bioresorbable polymers can be seen in the big core industry like healthcare, pharmaceuticals, and medical devices, which contributes to increased business growth. 

Bioresorbable Polymer Market Segment Analysis – By Application

The Healthcare and Medical Devices segment held the largest share in the Bioresorbable Polymer market in 2021 and is growing at a CAGR of 6.3% during 2022-2027. According to the Indian Brand Equity Foundation (IBEF), “India is among the top 20 markets for medical devices worldwide. India’s medical devices market stood at US$ 11 billion in 2020 and is expected to reach US$ 65 billion in 2024.”, Hence the Healthcare and Medical devices being the dominant segment here. Polylactic acid-based product types in the industry have the advantage of getting naturally converted into lactic acid within the body at low concentrations and that can be safely removed by the body’s excretory system in a natural process. Polyglycolic acid (PGA) is another most popular type of product category in the Bioresorbable polymer market which is widely used in surgical sutures in medical applications. The polyglycolic acid copolymer (PLGA) is also a well-known alternative for PLA in orthopedic applications, which is anticipated to increase the PGA-based product demand. The Polylactic acid type is a biomedical polymer that is also used in bone tissue engineering, known as orthopedic implants. Owing to its comparatively low cost, biocompatibility, and high mechanical strength to other existing polymers has led to significant product demand in the healthcare and medical devices industry during the forecast period. 

Bioresorbable Polymer Market Segment Analysis – By Geography

North America region held the largest share in the Bioresorbable Polymer market in 2021 up to 43% and remains the epicenter of development prospects in the global Bioresorbable Polymer market. The presence of prominent manufacturers such as Ashland, Poly-Med Inc., and others, further inflates the market scope and continues the market growth in the North American region. According to Plastics Industry Association, U.S. Bioplastics are one of the fastest-growing sectors of the plastics industry, with an anticipated 20-30% annual growth. North America region accounts for the largest market share for bioresorbable polymers due to the rising demand for bioresorbable implants and owing to the increasing incidences of orthopedic implants and dental ailments. The high adoption rate of bioresorbable implants in North America probably will help the region to retain the position of the leading region in the forecast years. With the extensive awareness about the bioresorbable polymer implants in North America compared to any other region, these areas are most likely to be potential markets for bioresorbable implants, during the forecast period.

Bioresorbable Polymer Market Drivers

Flourishing Health Care Industry

The surge in demand for Bioresorbable Polymers from hospitals and healthcare facilities to avoid the spread of bacterial and fungal infections and over bleeding of the patients during injuries and surgeries, and growing concerns about other infectious diseases, are the factors driving the growth of the Bioresorbable Polymer market. Bioresorbable Polymer offers a shield against pathogens and helps in averting several fatal diseases by the closure of wounds with sutures anchors. For instance, According to the Indian brand equity Foundation (IBEF), the Healthcare market in India is expected to reach US $372 billion by 2022, driven by rising income, better health awareness, lifestyle diseases, and increasing access to insurance. This, in tandem with the rising awareness concerning the importance of retaining sanitation and hygiene in healthcare clinics and centers, is markedly fuelling the market growth. 

Convenience in patient’s comfort

One of the major drivers for the growth of the bioresorbable polymer market is the rise in patient comfort. Traditionally, after surgery, the materials left in the body needed another small surgery to take materials out, which might cause risk to the patient. Bioresorbable polymers remove both of these factors because of their property of disintegrating into the body over the years. The rising demand for bioresorbable polymers for drug delivery also is causing bioresorbable polymers' market growth as it is much convenient for the patient. The rising adoption of drug delivery is expected to be a very important parameter driving the market growth.

Bioresorbable Polymer Market Challenges

Higher price associated with the Bioresorbable Polymer

The high cost associated with the Bioresorbable Polymer, low awareness among consumers in the undeveloped countries together with low market penetration plays spoilsport in the rapidly growing Bioresorbable Polymer market over the forecast period. On average, in comparison to the traditionally used methods, the Bioresorbable Polymer is usually 10-20% higher in price, hindering the purchases by the consumer. A strict environmental regulation with regards to the production of Bioresorbable polymers is one of the prominent constraining factors. Such factors have become the major challenge of Bioresorbable Polymer in terms of consumption, which constrains the growth of the market.

Bioresorbable Polymer Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in this market. Bioresorbable Polymer top 10 companies include:

  1. Putnam Plastics (US)
  2. Groupe PCAS (France)
  3. Koninklijke DSM N.V (The Netherlands)
  4. DURECT CORPORATION (US)
  5. Merck KGaA (Germany)
  6. Poly-Med Inc. (US)
  7. Foster Corporation. (US)
  8. REVA Medical, Inc.(US).
  9. Evonik Industries AG (Germany)
  10. Ashland (US) 

Acquisitions/Technology Launches

  • On October 2021, Evonik launched LIPEX extruder for fast and effective liposomal drug manufacturing. LIPEX® Flow, which is available worldwide from November 2021, offers drug developers and manufacturers a superior device for bringing liposomal drug products to market. The new device meets the market need for more efficient next-generation high-pressure extruders to produce drug products requiring conventional liposomal drug delivery. These include active ingredients that find application in oncology, antifungal, antibacterial, vaccine, and many other applications. 
  • On April 2019, Ashland Introduces New Tablet Technology. According to them, Pharmaceutical manufacturers continue to search for solutions that save costs and ensure formulation predictability, reliability, and robustness. According to the company, Klucel EXF Ultra HPC exhibits binder efficiency, compressibility, and plasticity with enhanced tablet strength and low friability at usage levels as low as one to two percent. Klucel EXF Ultra HPC aims to tackle this concern, providing lower use levels that enable manufacturers to create smaller, easier-to-swallow tablets.

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1. Bioresorbable Polymers Market- Market Overview
    1.1 Definitions and Scope
2. Bioresorbable Polymers Market - Executive Summary
    2.1 Key Trends by Type
    2.2 Key Trends by Application
    2.3 Key Trends by Geography
3. Bioresorbable Polymers Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. Bioresorbable Polymers Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. Bioresorbable Polymers Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. Bioresorbable Polymers Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Buyers
        6.3.3 Threat of New Entrants
        6.3.4 Competitive Rivalry
        6.3.5 Threat of Substitutes
7. Bioresorbable Polymers Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. Bioresorbable Polymers Market – By Type (Market Size -$Million/Billion)
    8.1 Polylactic acid (PLA) / Polylactide
        8.1.1 Poly-L-Lactide (PLLA)
        8.1.2 Poly-D-Lactide (PDLA)
        8.1.3 Poly-DL-Lactide (PDLLA)
    8.2 Polyglycolic acid (PLGA) / Polyglycolide (PG)
    8.3 Others
9. Bioresorbable Polymers Market – By Application (Market Size -$Million/Billion)
    9.1 Healthcare and Medical Devices
        9.1.1 Orthopedic implants
        9.1.2 Suture anchors
        9.1.3 Fracture plates
        9.1.4 Others
    9.2 Pharmaceuticals
        9.2.1 Oral Drug Delivery
        9.2.2 Others
10. Bioresorbable Polymers Market - By Geography (Market Size -$Million/Billion)
    10.1 North America
        10.1.1 USA
        10.1.2 Canada
        10.1.3 Mexico
    10.2 Europe
        10.2.1 UK
        10.2.2 Germany
        10.2.3 France
        10.2.4 Italy
        10.2.5 Netherlands
        10.2.6 Spain
        10.2.7 Russia
        10.2.8 Belgium
        10.2.9 Rest of Europe
    10.3 Asia-Pacific
        10.3.1 China
        10.3.2 Japan
        10.3.3 India
        10.3.4 South Korea
        10.3.5 Australia and New Zealand
        10.3.6 Indonesia
        10.3.7 Taiwan
        10.3.8 Malaysia
        10.3.9 Rest of APAC
    10.4 South America
        10.4.1 Brazil
        10.4.2 Argentina
        10.4.3 Colombia
        10.4.4 Chile
        10.4.5 Rest of South America
    10.5 Rest of the World
        10.5.1 Middle East
            10.5.1.1 Saudi Arabia
            10.5.1.2 UAE
            10.5.1.3 Israel
            10.5.1.4 Rest of the Middle East
        10.5.2 Africa
            10.5.2.1 South Africa
            10.5.2.2 Nigeria
            10.5.2.3 Rest of Africa
11. Bioresorbable Polymers Market – Entropy
    11.1 New Product Launches
    11.2 M&As, Collaborations, JVs, and Partnerships
12. Bioresorbable Polymers Market – Industry / Segment Competition landscape Premium Premium
    12.1 Company Benchmarking Matrix – Major Companies
    12.2 Market Share at Global Level - Major companies
    12.3 Market Share by Key Region - Major companies
    12.4 Market Share by Key Country - Major companies
    12.5 Market Share by Key Application - Major companies
    12.6 Market Share by Key Product Type/Product category - Major companies
13. Bioresorbable Polymers Market – Key Company List by Country Premium Premium
14. Bioresorbable Polymers Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    14.1 Company 1
    14.2 Company 2
    14.3 Company 3
    14.4 Company 4
    14.5 Company 5
    14.6 Company 6
    14.7 Company 7
    14.8 Company 8
    14.9 Company 9
    14.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global Bioresorbable Polymer Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
1.1 Polysaccharide Market 2019-2024 ($M) - Global Industry Research
1.1.1 Market Estimate Forecast Market 2019-2024 ($M)
1.2 Protein Market 2019-2024 ($M) - Global Industry Research
1.3 Polylactic Acid Market 2019-2024 ($M) - Global Industry Research
1.4 Polyglycolic Acid Market 2019-2024 ($M) - Global Industry Research
1.5 Polycaprolactone Market 2019-2024 ($M) - Global Industry Research
2.Global Bioresorbable Polymer Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
2.1 Drug Delivery Market 2019-2024 ($M) - Global Industry Research
3.Global Bioresorbable Polymer Market:Product Estimate Trend Analysis Market 2019-2024 (Volume/Units)
3.1 Polysaccharide Market 2019-2024 (Volume/Units) - Global Industry Research
3.1.1 Market Estimate Forecast Market 2019-2024 (Volume/Units)
3.2 Protein Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Polylactic Acid Market 2019-2024 (Volume/Units) - Global Industry Research
3.4 Polyglycolic Acid Market 2019-2024 (Volume/Units) - Global Industry Research
3.5 Polycaprolactone Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Bioresorbable Polymer Market:Application Estimate Trend Analysis Market 2019-2024 (Volume/Units)
4.1 Drug Delivery Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Bioresorbable Polymer Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
5.1 Polysaccharide Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Market Estimate Forecast Market 2019-2024 ($M)
5.2 Protein Market 2019-2024 ($M) - Regional Industry Research
5.3 Polylactic Acid Market 2019-2024 ($M) - Regional Industry Research
5.4 Polyglycolic Acid Market 2019-2024 ($M) - Regional Industry Research
5.5 Polycaprolactone Market 2019-2024 ($M) - Regional Industry Research
6.North America Bioresorbable Polymer Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
6.1 Drug Delivery Market 2019-2024 ($M) - Regional Industry Research
7.South America Bioresorbable Polymer Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
7.1 Polysaccharide Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Market Estimate Forecast Market 2019-2024 ($M)
7.2 Protein Market 2019-2024 ($M) - Regional Industry Research
7.3 Polylactic Acid Market 2019-2024 ($M) - Regional Industry Research
7.4 Polyglycolic Acid Market 2019-2024 ($M) - Regional Industry Research
7.5 Polycaprolactone Market 2019-2024 ($M) - Regional Industry Research
8.South America Bioresorbable Polymer Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
8.1 Drug Delivery Market 2019-2024 ($M) - Regional Industry Research
9.Europe Bioresorbable Polymer Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
9.1 Polysaccharide Market 2019-2024 ($M) - Regional Industry Research
9.1.1 Market Estimate Forecast Market 2019-2024 ($M)
9.2 Protein Market 2019-2024 ($M) - Regional Industry Research
9.3 Polylactic Acid Market 2019-2024 ($M) - Regional Industry Research
9.4 Polyglycolic Acid Market 2019-2024 ($M) - Regional Industry Research
9.5 Polycaprolactone Market 2019-2024 ($M) - Regional Industry Research
10.Europe Bioresorbable Polymer Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
10.1 Drug Delivery Market 2019-2024 ($M) - Regional Industry Research
11.APAC Bioresorbable Polymer Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
11.1 Polysaccharide Market 2019-2024 ($M) - Regional Industry Research
11.1.1 Market Estimate Forecast Market 2019-2024 ($M)
11.2 Protein Market 2019-2024 ($M) - Regional Industry Research
11.3 Polylactic Acid Market 2019-2024 ($M) - Regional Industry Research
11.4 Polyglycolic Acid Market 2019-2024 ($M) - Regional Industry Research
11.5 Polycaprolactone Market 2019-2024 ($M) - Regional Industry Research
12.APAC Bioresorbable Polymer Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
12.1 Drug Delivery Market 2019-2024 ($M) - Regional Industry Research
13.MENA Bioresorbable Polymer Market:Product Estimate Trend Analysis Market 2019-2024 ($M)
13.1 Polysaccharide Market 2019-2024 ($M) - Regional Industry Research
13.1.1 Market Estimate Forecast Market 2019-2024 ($M)
13.2 Protein Market 2019-2024 ($M) - Regional Industry Research
13.3 Polylactic Acid Market 2019-2024 ($M) - Regional Industry Research
13.4 Polyglycolic Acid Market 2019-2024 ($M) - Regional Industry Research
13.5 Polycaprolactone Market 2019-2024 ($M) - Regional Industry Research
14.MENA Bioresorbable Polymer Market:Application Estimate Trend Analysis Market 2019-2024 ($M)
14.1 Drug Delivery Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
2.Canada Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
3.Mexico Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
4.Brazil Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
5.Argentina Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
6.Peru Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
7.Colombia Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
8.Chile Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
9.Rest of South America Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
10.UK Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
11.Germany Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
12.France Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
13.Italy Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
14.Spain Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
15.Rest of Europe Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
16.China Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
17.India Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
18.Japan Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
19.South Korea Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
20.South Africa Bioresorbable Polymers Market Revenue, 2019-2024 ($M)
21.North America Bioresorbable Polymers By Application
22.South America Bioresorbable Polymers By Application
23.Europe Bioresorbable Polymers By Application
24.APAC Bioresorbable Polymers By Application
25.MENA Bioresorbable Polymers By Application
26.Carbion Nv, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Evonik Industry Ag, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Poly-Med, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Kls Martin Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Foster Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)