The global bioresorbable polymers market is expected to grow due to increasing demand for biodegradable materials in various applications such as medical devices, drug delivery systems, and tissue engineering. The growing incidence of chronic diseases and the increasing demand for minimally invasive surgical procedures are driving the growth of the market. The development of advanced bioresorbable polymers that mimic the properties of natural tissues and the increasing R&D investment in the field of bioresorbable polymers are also expected to drive the growth of the market.
The increasing demand for eco-friendly and biodegradable materials, along with the growth of the medical devices and pharmaceutical industries, is expected to provide significant growth opportunities for the market players. However, the high cost of bioresorbable polymers and the lack of awareness among the end-users are some of the major challenges faced by the market.
The bioresorbable polymers market is segmented based on type, application, and region. Based on type, the market is segmented into polylactide (PLA), polyglycolide (PGA), and other bioresorbable polymers. Based on application, the market is segmented into medical devices, drug delivery systems, tissue engineering, and other applications.
North America is expected to hold a significant share of the market, owing to the increasing demand for biodegradable materials, the presence of a large number of market players, and the high adoption of advanced medical technologies in the region. Asia-Pacific is expected to grow at a significant rate due to the growing demand for biodegradable materials in the medical and pharmaceutical industries and the increasing healthcare spending in the region.
Leading Players Assessed in the Report
Some of the key players operating in the market include Corbion N.V., Evonik Industries AG, Teknor Apex Company, Poly-Med, Inc., Royal DSM, Arkema S.A., and BASF SE, among others. These players are adopting strategies such as mergers & acquisitions, collaborations, partnerships, and new product launches to increase their market share and presence.
Regional Breakdown in the Market Report
- By Region
- North America
- Latin America
- Rest of Latin America
- Western Europe
- Nordic Countries
- Rest of Western Europe
- Eastern Europe
- Czech Republic
- Rest of Eastern Europe
- Asia Pacific
- South Korea
- ASEAN (Indonesia, Vietnam, Thailand, Philippines, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of the Middle East & Africa
- North America
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