Bioresorbable Polymers Market 2018 Growth Opportunities By Top Manufactures, and

Posted by rushi007 on February 23rd, 2019

Bioresorbable polymers, also known as degradable polymers, are commonly used in various biomedical applications such as suturing thread, arterial stents, intravenous drug-delivery devices, vascular grafts, temporary bone fixation devices, and degradable sutures. These polymers are used as a replacement for metallic orthopedic devices due to their precise control of material composition and microstructure. Various bioresorbable polymers used in medical applications include polylactic acid (PLA), polyglycolic acid (PGA), and poly (lactic-co-glycolide) (PLGA) copolymers. Polylactic acid (PLA), or polylactide, is the most commonly used bioresorbable polymer. It is majorly used in synthetic grafts, orthopedic medicine, sutures, and drug delivery systems. Polyglycolic acid (PGA), or polyglycolide, another type of bioresorbable polymer is generally used in bioresorbable sutures, orthopedics, and craniomaxillofacial surgery.

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Bioresorbable Polymers Market Regional Insights

Regional segmentation of the bioresorbable polymers market by Coherent Market Insights, includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in North America is expected to hold a dominant position in the bioresorbable polymers market due to rampant advancements in technology related to the bioresorbable polymers and presence of major industry players such as Poly-Med Inc. in the region. Furthermore, market in Asia Pacific is expected to gain significant traction, owing to rising demand for bioresorbable polymers in drug delivery and orthopedics applications and the growing healthcare spending in the region. According to DBS report 2016, healthcare spending in Asia Pacific is estimated to grow CAGR of 12.8% due to rising geriatric population, increase in chronic illnesses, and urbanization.

Rising affluence and a surge in lifestyle diseases are additional key structural drivers for the market growth. According to Securities Investors Association (SIAS), in 2018, India and China have the largest number of diabetes sufferers in the world, accounting for around 69 million and 114 million, respectively. Moreover, according to Organisation for Economic Co-operation and Development (OECD), cancer is the second-leading cause of death after cardiovascular disease in the region.

Bioresorbable Polymers Market Competitive Landscape

Key players operating in the bioresorbable polymers market include Corbion N.V., DSM, Degradable Solutions, Evonik Industries AG, Foster Corporation, Galatea Surgical, KLS Martin, LACTEL Absorbable Polymers, MAST Biosurgery, Poly-Med Inc., and Sigma-Aldrich.

Bioresorbable Polymers Market Taxonomy

On the basis of polymer type, the bioresorbable polymers market is segmented into:

• Agro-polymers

◦ Polysaccharides

◦ Proteins

• Biopolyesters

◦ Polylactic Acid

◦ Polyglycolic Acid

◦ Polycaprolactone

◦ Others

On the basis of application, the bioresorbable polymers market is segmented into:

• Drug Delivery

• Orthopedics

• Others

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