Global Resorbable Polymers Market was valued at USD 0.4 Billion in 2022 and is projected to reach USD 0.7 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
Resorbable polymers, also known as bioresorbable or biodegradable polymers, have revolutionized the medical field with their ability to be safely absorbed by the body, eliminating the need for surgical removal. This innovation has significantly impacted various medical applications, particularly in orthopedics and drug delivery systems.
In my experience working with medical devices, the adoption of resorbable polymers has streamlined procedures and improved patient outcomes. For instance, in orthopedic surgeries, devices such as screws and pins made from polylactic acid (PLA) offer the necessary strength and gradually degrade as the bone heals, reducing complications associated with permanent implants.
According to market analyses, the resorbable polymers market was valued at approximately $1.6 billion in 2018 and is projected to reach $2.4 billion by 2024, growing at a compound annual growth rate (CAGR) of around 7.5%. This growth is driven by the increasing demand for biocompatible materials in medical applications and advancements in polymer technology.
Key factors contributing to this market expansion include:
Growing prevalence of chronic diseases necessitating advanced medical interventions.
Advancements in polymer science leading to the development of materials with improved mechanical properties and controlled degradation rates.
Increasing awareness and acceptance of bioresorbable materials among healthcare professionals and patients.
However, challenges such as high production costs and limited mechanical properties compared to non-resorbable materials may restrain market growth. Despite these hurdles, opportunities abound in emerging applications like 3D printing of medical devices and regenerative medicine, where resorbable polymers can play a pivotal role.
Geographically, North America and Europe currently dominate the market due to well-established healthcare infrastructures and supportive regulatory environments. Meanwhile, the Asia-Pacific region is anticipated to experience the fastest growth, attributed to rising healthcare expenditures and increasing adoption of advanced medical technologies.
In conclusion, the resorbable polymers market is on an upward trajectory, driven by technological advancements and a growing emphasis on patient-friendly medical solutions. As research progresses and new applications emerge, these polymers are set to become integral components in the future of medical treatments.
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Corbion
Poly-Med
Foster Corporation
Evonik Industries AG
KLS Martin
American Crystal Sugar Company
KAO Corporation
Stepan Company
Amino
Sunwin Chemicals
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Resorbable Polymers Market
Drug Delivery
Orthopedics
Others
Based on Types the Market is categorized into Below types that held the largest Resorbable Polymers market share In 2023.
Polylactic Acid (PLA)
Polyglycolic Acid (PGA)
Polycaprolactone
Polysaccharides
Bio-polyesters
Agro-polymers
Proteins
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Global, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Resorbable Polymers Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Resorbable Polymers Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Resorbable Polymers Market, By Type
6. Global Resorbable Polymers Market, By Application
7. Global Resorbable Polymers Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Resorbable Polymers Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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