Bioresorbable Polymers Market Size Is Estimated To Rise To USD 688.0 Million By 2027: Report by MarketsandMarkets™

 Bioresorbable Polymersresorbable/bioresorbable materials are nontoxic, biocompatible, malleable, and have grease-like or wax-like properties, which are highly desirable for a wide range of medical and surgical applications. The global market size for Bioresorbable Polymers was USD 385.0 million in 2021 and is projected to reach USD 688.0 million by 2027 at a CAGR of 10.5%. The key factors driving the market are increasing number of surgical interventions, growing demand in biocompatible medical devices, growing demand in drug delivery application, and favorable imbursement scenario.

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Bioresorbable polymers are widely used in medical applications to make stents, sutures, and scaffolds that are implanted inside the human body after surgery to support the organ. Once the recovery of the patient’s organ begins, bioresorbable polymers gradually start dissolving and are entirely absorbed in the body after their function is performed. As these products are absorbed by the body itself, the patient does not require a second surgical intervention to remove them. Hence, the whole procedure is cost-effective and patient friendly. Nowadays, consumers are more health-conscious, as they do not want to be exposed to unnecessary drugs and medical procedures that have several adverse effects on health and ultimately weaken the body.

The major players in operating in the global bioresorbable polymers market are Corbion N.V., Evonik Industries AG, Foster Corporation, KLS Martin Group, DSM Biomedical, Inc., Ashland Global Holdings Inc., Zeus Industrial Products, Inc., SEQENS Group, REVA Medical, LLC, and Poly-Med Incorporated. These companies are vital in their domestic regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and partnerships and enhancing their product portfolios.

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For instance, in June 2021, Zeus Industrial Products, Inc. announced to acquire CathX Medical Inc., a medical device contract manufacturer, into its organization. CathX is California-based medical device company that offers customers a single source for catheter design engineering services, prototyping, manufacturing, and full or sub-assemblies. Moreover, in April 2021, Foster Corporation announced a sales agreement with Drake Medical Plastics Ltd., a leader in converting high-performance polymers into stock shapes and precision parts. This will help the company spread its business.

The major applications are orthopedic devices, drug delivery, and other applications, including tissue regeneration, dental devices, cardiovascular devices, sutures, and wound management systems. The application of orthopedic devices accounted for the largest share of 53.5%, in terms of value, of the overall market in 2021. The large market share in the orthopedic devices segment is mainly attributed to growing number of surgeries and accidents across the globe. The increasing geriatric population is contributing to an increased incidence of orthopedic disorders globally which drives the demand for bioresorbable polymers in orthopedic devices application.

Corbion N.V., Evonik Industries AG, and Foster Corporation mainly focus on orthopedic devices and drug delivery applications. Due to growing number of surgeries and accidents across the globe, the people are shifting towards bioresorbable polymers which are highly preferred as these polymers gradually start dissolving and are entirely absorbed in the body after their function is performed. For example, during maxillofacial surgery, bioresorbable polymers aid the healing process and are broken down when they are no longer needed. They are also used as controlled drug release implants inside the human body.

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