The “bioresorbable polymers market analysis to 2028″ is a specialized and in-depth study of the chemical and material industry, focusing on global market trend analysis. The report aims to provide an overview of the bioresorbable polymers market with detailed market segmentation based on the type, application, and the geography. Based on the type, the market is segmented into polylactic acid (PLA), polyglycolic acid (PGA), polydioxanone, polycaprolactone (PCL), others. Based on the application, the market is segmented into orthopedic devices, drug delivery, and others.
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The scope of our recent study, titled “Bioresorbable Polymers Market to 2028 – Covid-19 Impact and Global Analysis by Type [Polylactic Acid (PLA), Polyglycolic Acid (PGA), Polydioxanone, Polycaprolactone (PCL), and Others] and Application (Orthopedic Devices, Drug Delivery, and Others)” consists of the factors fueling the market growth, revenue estimation and forecast, and market share analysis. It also includes the identification of significant market players along with their key developments.
Bioresorbable polymers are absorbable materials used in implanted medical devices to offer a physical structure to aid healing. They function as a drug delivery mechanism. Various types of bioresorbable polymers include polyglycolic acid (PGA), poly (L-lactic acid) (PLA), and polydioxanone. The growing volumes of surgical procedures, rising need for biocompatible medical devices, increasing demand for bioresorbable polymers in the drug delivery application, and favorable reimbursement scenarios are some of the key factors driving the growth of this market. Moreover, the surge in the application of bioresorbable polymer-based medical implants and wound dressing covers are supporting this market as well.
Bioabsorbable polymers are the type of absorbable materials used in implanted medical devices to offer a physical structure to aid the healing process. Moreover, they also function as a drug delivery mechanism. The growing volumes of surgical procedures, rising demand for biocompatible medical devices, increasing demand for bioresorbable polymers in the drug delivery application, and favorable reimbursement scenarios are some of the key factors driving the growth of the global bioresorbable polymers market. Moreover, rising demand for bioresorbable polymer-based medical implants and wound dressing covers is also driving the market growth.
The growing number of road and work-related accidents globally is fueling the demand for orthopedic surgery. As per the World Health Organization (WHO) report, every year, around 20 to 50 million people, worldwide, suffer from a non-fatal injury in road accidents. Another study by the International Labor Organization (ILO), states that around 2.3 million of the population across the world meet work-related accidents every year. Road and work-related accidents cause multiple fractures, joint dislocation, ligament damage, and broken bones at several body parts, requiring orthopedic implants to heal and cure the injury.
Impact of COVID-19 Pandemic on the Bioresorbable Polymers Market
The COVID-19 has restricted the manufacturing and supply chain, hampering many businesses globally. The bioresorbable polymers market is one of the severely hit industries by this pandemic, with the chemicals and materials industry facing disruption in the raw material supply chain. However, several countries has eased the lockdown restrictions, as a result the manufacturing units have been reopened and an increase in surgeries, leading to a raised demand and production of medical devices. This factor will positively impact the bioresorbable polymer market over the next few years.
The growing instances of accidents, sports injury, and the ageing population globally is surging the need for various joint and bone surgeries. Bioresorbable polymers are extensively used to make sutures, screws, stents, pins, rods, and plates in implant devices. After adding these devices to the body, they perform the desired action, and once done, these implants get absorbed in the body by themselves. Further, these implants break down naturally after implantation, during the healing and supporting process. Resorbable polymer-based orthopedic implants demand is increasing due to its improved clinical outcomes and no additional surgery requirement for removal of temporary implants.
As per the report of Omnia Health, in 2019, China spent around US$ 928 billion on its healthcare services. It recorded the construction of more than 35,000 hospitals between 2016 to 2020. The country also accounted for the largest geriatric population. Around 250 million individuals over 60 by 2019. The expansion in health infrastructure and the increasing geriatric population in developing economies are favoring the bioresorbable polymers market.
The type segment of the global bioresorbable polymers market is bifurcated into polylactic acid (PLA), polyglycolic acid (PGA), polydioxanone, polycaprolactone (PCL), others. The Polyglycolic Acid (PGA) segment led the bioresorbable polymers market with the largest revenue share of the market in 2020.
The report segments the bioresorbable polymers market as follows:
Based on the type, the global bioresorbable polymers market is segmented into polylactic acid (PLA), polyglycolic acid (PGA), polydioxanone, polycaprolactone (PCL), and others. Based on the application, the market is segmented into orthopedic devices, drug delivery, and others.
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