Bioresorbable Polymers Market Size

Bioresorbable Polymers Market Growth Projections and Opportunities

The global bioresorbable polymers market is on an upward trajectory, poised for substantial growth with a projected Compound Annual Growth Rate (CAGR) of 12.8% during the forecast period. The market, valued at USD 1,313.89 million in 2021, is anticipated to surge to a staggering USD 3,672.96 million by the conclusion of the forecast period (2022-2030). The volumetric aspect of the market is equally compelling, expanding from 714.73 kilotons in 2021 to an estimated 1,896.60 kilotons by 2030, with a notable CAGR of 12.2%.

Bioresorbable Polymers in Healthcare:
At the forefront of this growth is the extensive utilization of bioresorbable polymers in the healthcare sector, particularly within the realm of drug delivery systems. The adoption of these polymers in various healthcare applications, including orthopedics and dental practices, is poised to be a key driver for market expansion throughout the forecast period. The flourishing use of bioresorbable polymers in the healthcare industry is expected to propel the global market, establishing it as a pivotal player in the evolving landscape.

Segmentation Overview:
A meticulous analysis by MRFR divides the global bioresorbable polymers market based on type, application, and region. Regarding types, the market is bifurcated into Agro-polymers (proteins and polysaccharides) and bio-polyesters (polyglycolic acid, polylactic acid, polycaprolactone, polydioxanone, and others). Among these, bio-polyesters emerge as the dominant force, capturing a substantial market share of 57.8%, equivalent to USD 760.08 million, and are projected to sustain a commendable CAGR of 13.5%.

Application Dynamics:
In terms of application, the global bioresorbable polymers market encompasses orthopedics, drug delivery, biodegradable devices, and other sectors. The orthopedic segment assumes a pivotal role, accounting for nearly 41.8% of the overall market and boasting a value of USD 549.46 million in 2021. Projections indicate its ascendancy with the highest anticipated CAGR of 13.8%, reaching a remarkable USD 1,661.26 million by the culmination of 2030.

Regional Performance:
North America emerges as the frontrunner in terms of both speed and scale, representing the fastest-growing and largest region in the bioresorbable polymers market. The robust growth in orthopedics and the drug delivery system propels North America, with an anticipated CAGR of 12.6%, reaching USD 578.60 million by 2030. Europe secures the second-largest share, accounting for 25.9% with a value of USD 340.59 million in 2021.