Bioresorbable Polymers Industry

The global bioresorbable polymers market size was estimated at USD 1.30 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 13.8% from 2023 to 2030. The globally increasing consumer health awareness, along with improving healthcare facilities and the rising number of surgical procedures are the primary factors aiding industry expansion. As per data by the National Library of Medicine (NLM) in 2020, globally, approximately 310 million major surgeries are conducted annually. Of these, around 20 million surgeries are performed in Europe and 40 to 50 million in the U.S. Bioresorbable, or bioabsorbable polymers, come from a class of materials that can be broken down and absorbed by the body over time.

These polymers are widely utilized in various fields, with the medical sector being a major one. In medicine, bioresorbable polymers are used in medical devices and implants, such as sutures, screws, tissue scaffolds, plates, and stents. These polymers dissolve in the body gradually, avoiding the need for a second surgery for their removal. Moreover, these polymers are used to create drug delivery systems, such as nanoparticles or microspheres. These systems release medication at a controlled pace and ultimately dissolve in the body, eliminating the need for their removal. Bioresorbable polymers used in medical procedures reduce any post-surgery risks for the patient without harming their body.

Gather more insights about the market drivers, restrains and growth of the Global Bioresorbable Polymers market

Bioresorbable Polymers Market Segments:

Product Insights

Polylactic acid (PLA) emerged as the leading product segment and accounted for the maximum share of 29.5% of the overall revenue in 2022. PLA-based product has the advantage of getting naturally converted into lactic acid in the body at low concentrations and can be safely removed by the body’s excretory system. Also, its degradable nature allows it to safely degrade and dissolve, thus eliminating the need for secondary surgery, which requires component removal. The use of bioresorbable polymer materials, such as PLA, is expected to increase in the area of lumbar interbody fusion. Polylactic acid exhibits stiffness, biocompatibility, and relatively high strength and high modulus, making it suitable for use in the manufacturing of fixation devices, such as arrows, washers, pins, and screws, in orthopedic surgeries.

Application Insights

Orthopedics emerged as the leading application segment and accounted for the maximum share of 43.6% of the overall revenue in 2022. The growing aging population, sedentary lifestyles, obesity, and lack of physical activity have increased the prevalence of orthopedic conditions, such as osteoporosis, arthritis, and degenerative joint diseases. This, in turn, is expected to drive the product demand. According to the National Institute of Health (NIH), total knee arthroplasty (TKA) stands as the most frequently conducted inpatient surgical procedure in the U.S. The number of TKA procedures was recorded at 1.37 million in 2020, and it is expected to reach 3.48 million procedures annually by 2030.

Regional Insights

North America dominated the global industry and accounted for the largest revenue share of 32.5% in 2022. This is attributed to the increasing product consumption in drug delivery and orthopedics applications in the region. The U.S. is the major hub for research & development in the healthcare industry, further driving the market growth in North America. Moreover, the rising demand for orthopedics and drug delivery applications supports the bioresorbable polymers demand in the region. According to the data provided by the American Joint Replacement Registry (AJRR) in 2022, over 2.8 million knee and hip procedures were performed across 1,250 health institutions in the U.S. This signifies a remarkable 14% increase in cumulative registered procedural volume compared to the previous year, establishing the AJRR as the world's largest arthroplasty registry in terms of volume.

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Key Companies & Market Share Insights

Companies are rapidly expanding their production capabilities to consolidate their market position. With governmental support in various countries focused on environmental concerns as well as the growing demand for specialized orthopedic and drug delivery applications in the global population, industry players have been compelled to focus on consumer-specific product positioning strategies for higher penetration in the local markets. For instance, in August 2021, Evonik Industries AG acquired a German biotech company, JeNaCell, to expand its biomaterials product portfolio in the healthcare industry. The acquisition will help Evonik’s Nutrition & Care division’s portfolio transformation to system solutions and will expand the division’s natural goods for the medical technology platform. Some of the major participants in the global bioresorbable polymers market include:

• Corbion NV
• Evonik Industries AG
• Poly-Med Inc.
• Foster Corp.
• Abbott
• KLS Martin Group
• 3D Biotek LLC.
• Sunstar Suisse S.A.
• DSM
• Futerro

Segments Covered in the Report

Grand View Research has segmented the global bioresorbable polymers market based on product, application, and region:

Bioresorbable Polymers Product Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Polysaccharides
• Proteins
• Polylactic Acid (PLA)
• Polyglycolic Acid
• Polycaprolactone
• Others

Bioresorbable Polymers Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Drug Delivery
• Orthopedics
• Others

Bioresorbable Polymers Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • The Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

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