The bioresorbable polymers market is expected to witness market growth at a rate of 15.1% in the forecast period of 2022 to 2029. Data Bridge Market Research report on bioresorbable polymers market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various healthcare applications is escalating the growth of bioresorbable polymers market.
On the other hand, higher cost of bioresorbable polymers than that of conventional polymers and Lack of quality control measures in developing countries are expected to obstruct the market growth. The increase in the preference for minimally invasive surgeries and stringent regulatory framework for medical devices are projected to challenge the bioresorbable polymers market in the forecast period of 2022-2029.
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Market Analysis and Insights
Bioresorbable polymers, also known as biodegradable or bioresorbable polymer, refers to a compound that is widely used in the healthcare sector as it is capable of safely being absorbed by the body. There is no need for these polymers to be dethatched when they are planted on the body. Polylactic acid, polyglycolic acid, and polycaprolactone are known to be one of the most familiar Bioresorbable polymers.
The increase in the number of surgical interventions across the globe acts as one of the major factors driving the growth of bioresorbable polymers market. The high demand for these polymers as they can be easily dissolved in the body fluids without causing any residual side effects, and rise in the demand in drug delivery application accelerate the market growth. The high usage of the product in biomedical applications such as prostheses, and replacing damaged joints, among others, and favorable reimbursement scenario further influence the market. Additionally, surge in investments, favorable government regulations, surge in investments and growing number of orthopedic patients positively affect the bioresorbable polymers market. Furthermore, emergence of electrospinning and 3D printing technologies extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
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Bioresorbable Polymers Market Scope
The bioresorbable polymers market is segmented on the basis of product and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product, the bioresorbable polymers market is segmented into polylactic acid (PLA), polyglycolic acid (PGA), poly (lactic-co-glycolic acid) (PLGA), polycaprolactone (PCL) and others. Polylactic acid (PLA) is further segmented into poly (l-lactic) acid (PLLA) and -Poly-d, l-lactic acid (PDLLA).
- On the basis of application, the bioresorbable polymers market is segmented into drug delivery, orthopedic devices and others. Drug delivery is further segmented into parenteral, oral and others. Orthopedic devices are further segmented into trauma, hip, knee, spine, sports injury and others.
Competitive Landscape and Bioresorbable Polymers Market Share Analysis
The bioresorbable polymers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to bioresorbable polymers market.
Some of the major players operating in the Bioresorbable Polymers Market are,
Corbion, Poly-Med, Foster Corporation, Evonik Industries AG., Sigma-Aldrich, Mar-Lee Companies, LACTEL Absorbable Polymers, DSM, PCAS, Galatea Surgical, Edge Design Services, Degradable Solutions, Amplitude Systems, MAST Bio surgery, KLS-Med, Sunwin Chemicals, Amino, Stepan Company, KAO Corporation, American Crystal Sugar, Wickham, Repsol, Carclo, Borealis Borouge, Nelipipak, and Albis, among others.
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