Bioresorbable Polymers To Boost Market Share Globally Due To Novel Product Applications

Pune, India, July, 2018 /press release/- Market Research Future Published a Cooked Research Report on Global Bioresorbable Polymers Market Research Report.

Bioresorbable polymers are gaining increasing importance especially in biomedical applications due to their ability to break down within the body easily. Due to this development, permanent implants especially are losing their popularity due to their biocompatibility issues in the long term, and bioresorbable materials have taken their place in implants along with many other diverse applications. The steady shift to degradable, temporary implants due to the considerable elimination of the risk of secondary surgery to remove temporary implants made of other materials, is one of the most important factors fuelling the demand for bioresorbable polymers. The market is estimated to progress with a 12.8% CAGR approximately in the forecast period.

The bioresorbable polymers which are derived from PGS have scope for exceptional possibilities in boosting the market’s growth as they can be manufactured in an extensive range of consistencies, from a gel to a tough elastomeric thermoset. Moreover, since the material closely mimics the modulus of human tissue and its hydrophilicity is similar to native cartilage, it might offer a versatile base for future regenerative orthopedic applications, from drug delivery to tissue engineering. This aspect is likely to drive the PGS (polyglycerol sebacate) market growth in the upcoming years while consequently also boosting the demand for bioresorbable polymers. The growth of the geriatric population at a significant rate and their predisposition to cardiovascular diseases is anticipated to offer new avenues for growth of this market in cardiovascular applications through the forecast period. Additionally, accessibility to cheap labor and growing government support such as FDI in the Asia Pacific region has enticed many manufacturers to invest in this market.

Amplified focus on physical fitness among individuals to enhance their living standards coupled with the trend of tracking health progress will drive the demand for bioresorbable polymers in biomedical applications. The application of bioresorbable polymers in drug delivery, particularly in slow-release medication delivery that could be further modified to even longer-term drug release is anticipated to grow the market further in the forecast period. The progress of the market is likely to be further spurred on by factors such as acceptance of advanced medical implants devices by patients and rising usage of 3D printing technology.

Segmental Analysis

The bioresorbable polymers market has been segmented on the basis of application, type, and region. The segmentation of the market on basis of the application comprises of drug delivery, orthopedic, and others. The orthopedic segment has emerged as the leading application segment with a major global share of around 50.9 percent followed by drug delivery. The orthopedic segment is expected to develop at a CAGR of 13.49 percent in the forecast period. The type segment of the market is segmented into Polycaprolactone (PCL), Polyglycolic acid (PGA), Polylactic acid (PLA) & Derivatives, Proteins, Polydioxanone (PDS), Polysaccharides, and Others. The Polylactic acid (PLA) & Derivatives was the principal type segment with the biggest market share of USD 222,350.7 Thousand as of 2017 and expanding with a CAGR of 13.92 percent throughout the forecast period owing to the benefits it offers such as it getting naturally changed into lactic acid in the body at low concentration. On the basis of the region, the market segmented into Europe, North America, Asia Pacific, Latin America, Middle East and Africa.

Detailed

Regional Analysis

The regional analysis of the bioresorbable polymer market includes regions such as Asia Pacific, Europe, North America, Latin America, Middle East and Africa. The North American region controls the principal share of the bioresorbable polymers market globally and is expected to carry on its lead over the global market over the forecast period. In 2017, North America was responsible for more than 35 percent share with a value of USD 275,176.0 thousand and is growing with a healthy CAGR of 13.57 percent over the forecast period due to the rapid development of healthcare industry in the region along with the incidence of a substantial number of producers. The European region follows the North American region, wherein Germany is estimated to dominate the regional market share with the highest CAGR due to the resilient presence of manufacturers in this region. The Asia Pacific region is anticipated to have the fastest CAGR of 13.97 percent over the forecast period. Cheap labour and land cost along with foreign direct investment in developing economies is projected to push the regional market’s development. Furthermore, increasing foot prints of major players functioning in this region are projected to boost the progress of the regional market.

Competitive Analysis

The key industry contenders are implementing collective approaches to maintain their majority share of the market. The producers have also adopted several strategies such as patent filing, capacity expansion, acquisition, and product launch as their key business maneuvers. The major contenderd in the market for Bioresorbable Polymers globally are KLS Martin Group, Corbion NV, Poly-Med Inc, PCAS Group, Foster Corporation, Evonik Industries AG, DURECT Corporation, Merck KGaA, and Royal DSM NV.

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