Bioresorbable Polymers Market Trends 2024: Revolutionizing Packaging in the Medical Industry | Industry Growth, Demand, Size, Share & Opportunities

Bioresorbable polymers, also known as biodegradable polymers or bioabsorbable polymers, represent a groundbreaking class of materials within the chemical industry. These polymers possess the unique ability to degrade naturally over time, offering a sustainable alternative to traditional, non-biodegradable plastics. This characteristic makes them highly sought after in various applications, particularly in the medical, packaging, and agricultural sectors.

The bioresorbable polymers market size is estimated to be USD 417 million in 2022 and is projected to reach USD 688 million by 2027 at a CAGR of 10.5% during the forecast period.

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The high cost of bioresorbable polymers compared to conventional polymers, lack of quality control in developing countries, and preference for minimally invasive surgeries are the major restraints for bioresorbable polymers. A significant opportunity in the resorbable polymers market is increasing the production of environmentally friendly products to meet the regulatory standards set by various environmental protection agencies.

Bioresorbable Polymers Market Scope:

?? Sustainable Packaging Solutions:??In response to the global call for reducing plastic waste, bioresorbable polymers are gaining traction as a sustainable alternative for packaging materials. These polymers can be utilized to create environmentally friendly packaging that decomposes naturally, mitigating the environmental impact associated with traditional plastic packaging.

Bioresorbable polymers?are revolutionizing the packaging industry, offering a sustainable alternative that aligns with the global push towards eco-friendly solutions. Their scope within the packaging sector is significant and multifaceted:

• Environmental Friendliness:?Bioresorbable polymers contribute to sustainable packaging by naturally degrading over time. This characteristic addresses concerns related to plastic pollution and positions them as a compelling choice for environmentally conscious packaging solutions.
• Biodegradability and Compostability:?These polymers are designed to biodegrade under specific conditions, offering a compostable end-of-life solution. This aligns with the growing trend of compostable packaging, providing a circular approach that reduces the environmental impact associated with traditional packaging materials.

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???Agricultural and Horticultural Applications:?Bioresorbable polymers find application in agriculture through the development of biodegradable mulches and films. These materials help address soil pollution concerns and reduce the environmental footprint of conventional agricultural practices.?

????Medical and Healthcare Applications:?Bioresorbable polymers have witnessed a significant surge in demand within the medical field. From surgical sutures to drug delivery systems and implantable medical devices, these polymers offer a biocompatible solution that eliminates the need for subsequent removal procedures. Their ability to break down harmlessly within the body aligns with the growing focus on patient well-being and minimally invasive medical practices.

PGLA is estimated to be the fastest-growing type in the? bioresorbable polymers market for the forecast period.”

PLGA is the fastest-growing type of bioresorbable polymers and is expected to register a CAGR of 11.05%, in terms of value, during the forecast period. The high growth rate of PLGA-based bioresorbable polymers is mainly due to favorable reimbursement options, increasing awareness about novel medical devices, and the implementation of favorable government initiatives. According to an NCBI study, chronic diseases affect around 50% of the US population annually. It also estimated that chronic diseases accounted for ~86% of all healthcare costs in the US.

?Drug delivery was the second major application for the bioresorbable polymers market in 2021 in the global market

The bioresorbable polymers market size for drug delivery applications accounted for the second-largest share of global bioresorbable polymers, in terms of value, in 2021. Bioresorbable polymers are used in the making of implantable matrices for controlled drug release inside the body. As the elderly are more susceptible to chronic disorders and diseases than other age groups, growth in this population segment will serve to increase patient volumes and, in turn, drive the demand for drugs and delivery technologies.

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North America? is estimated to be the largest region in? bioresorbable polymers market?

North America was the largest bioresorbable polymers market, in terms of value, in 2021. Globally, it has been leading the market in demand and product innovation in terms of quality and application development. The growing demand backs the growth of the bioresorbable polymers market in the region for these polymers in the medical industry. Intense competition among major players in the market has led to price stabilization in the past few years.

Bioresorbable Polymers Market Key Players

The key market players profiled in the report include Corbion N.V. (The Netherlands), 赢创工业集团 Industries AG(Germany), Foster Corporation (US), KLS Martin Group (Germany), dsm-firmenich Biomedical (US), Inc, Ashland Global Holdings Inc. (US), Zeus (US), Inc, SEQENS Group (France), REVA Medical, LLC. (US), Poly-Med, Inc. (US), Bezwada Biomedical, LLC (US), Nomisma Healthcare PVT. LTD. (India), BMG Incorporated (Japan), Polysciences, Inc. (US), Huizhou Foryou Medical Devices Co.,Ltd (China), Musashino Chemical Laboratory Co. Ltd. (Japan), and Henan Xinghan Biotechnology Co., Ltd (China).

In conclusion, the bioresorbable polymers market is poised for expansion in the chemical industry, driven by its versatile applications in medical, packaging, and agricultural domains. As sustainability becomes a focal point, the demand for bioresorbable polymers is expected to continue its upward trajectory, shaping the future of the chemical industry towards eco-friendly and biodegradable solutions.