Global Bioresorbable (Resorbable) Polymers Market: Overview
Bioresorbable polymers are polymers that completely biodegrade inside the human body without presenting a threat. This allows physicians to reduce the post-surgery risk to the patient and also eliminates the need for a second surgery to remove temporary implants. The global market for bioresorbable polymers has grown rapidly in the recent years due to the growing awareness among patients, widespread efforts by governments to upgrade their healthcare sector, and the high disposable income of consumers in developed economies.
Global Bioresorbable (Resorbable) Polymers Market: Drivers and Restraints
The major driver for the global bioresorbable polymers market is the increase in patient comfort brought about by bioresorbable polymers. Conventional materials left in the body post-surgery required another minor surgery to remove the materials, some presenting a health risks to the patient. Bioresorbable polymers eliminate both these factors due to their property of disintegrating into the body over a period of time.
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The growing demand for bioresorbable polymers for drug delivery is another key aspect of the trajectory of the global bioresorbable polymers market. The chemically neutral nature of bioresorbable polymers and their harmless decomposition in the body make them perfect for drug delivery. The growing demand for bioresorbable polymers from the drug delivery segment is expected to be a vital factor in the market’s development in the 2016-2023 forecast period.
On the other hand, due to their technological sophistication, bioresorbable polymers cost more than conventional medical polymers. This is a major restraint on the bioresorbable polymers market in developing regions, since the overall quality of the healthcare sector is relatively low in regions such as Asia Pacific and Latin America. The lack of advanced healthcare infrastructure in developing regions also hampers the bioresorbable polymers market in the form of a lack of a reliable quality control.
Incorporation of 3D printing is expected to be a major aspect of the global bioresorbable polymer market’s trajectory in the coming years. The minute differentiations required in bioresorbable polymers according to the constitution of various patients and the different circumstances in each case can be incorporated much more easily and reliably with 3D printing.
Global Bioresorbable (Resorbable) Polymers Market: Segmentation
Among the various types of polymers in the bioresorbable polymers market, polylactic-acid-based bioresorbable polymers dominated the demand from the global market. Polylactic acid gets converted into lactic acid in the body, which naturally occurs in the body at low concentrations and can be safely removed by the body’s own excretory systems. Polyglycolic acid is another widely used bioresorbable polymer and is majorly used in sutures.
The increasing prevalence of orthopedic disorders has led to them emerging as the largest application segment of the global bioresorbable polymers market. Despite the increasing demand for bioresorbable polymers in drug delivery, orthopedics will remain a major application segment of the global market in the coming years.
North America emerged as the largest regional player in the global bioresorbable polymers market due to the high level of technological sophistication in the healthcare sector in the U.S. and Canada. The U.S. is the major R&D hub for the medical industry, further driving the North America bioresorbable polymers market. The similarly advanced healthcare scenario in Europe, particularly Western Europe, has driven the European market for bioresorbable polymers market. However, Asia Pacific is expected to become a major regional market for bioresorbable polymers in the coming years.
Global Bioresorbable (Resorbable) Polymers Market: Competitive Dynamics
The report profiles major players in the global bioresorbable polymers market in order to provide a detailed overview of the market’s competitive landscape. Key players studied in the report include Corbion, Poly-Med, Inc., Foster Corporation, and Evonik Industries AG.
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