Resorbable Polymers Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 10.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Resorbable Polymers Market Analysis
The resorbable polymers market is projected to record a CAGR of more than 10% during the forecast period (2022-2027).
The COVID-19 impact on the market has been negligent. Additionally, the market is expected to grow steadily during the forecast period.
- The major factor driving the market is growing demand from the medical industry.
- Applications in 3D printing of devices in the medical industry are expected to act as an opportunity for the market
- Asia-Pacific dominated the market globally, with the largest consumption seen in countries such as China and India.
Resorbable Polymers Market Trends
This section covers the major market trends shaping the Resorbable Polymers Market according to our research experts:
Orthopedics to Dominate the Market
- Orthopedics may continue to dominate the market for resorbable polymers during the forecast period.
- Resorbable polymers are biocompatible, non-toxic, and have properties such as thermoplasticity, strength, crystallinity, degradation characteristics, and hydrophilicity, which are major requirements of implants used in knee, spine, and hip.
- In addition, resorbable polymers help in tissue regeneration in a hospitable environment, thereby replacing the use of conventional components in orthopedic applications. This factor is driving the market for resorbable polymers.
Asia-Pacific is Projected to be the Fastest Growing Market
- Asia-Pacific is projected to be the fastest-growing market for resorbable polymers during the forecast period, owing to the growing demand from the medical industry.
- An increase in medical tourism in countries such as India, Thailand, South Korea, Malaysia, and Taiwan is expected to increase the consumption of various medical products manufactured using resorbable polymers.
- In addition, high-quality and relatively low-cost medical services provided in countries such as India and Thailand are expected to increase the consumption of resorbable polymers.
- Also, changes in public healthcare reforms and a rapidly expanding private healthcare sector in the region are expected to boost the market for resorbable polymers.
Resorbable Polymers Industry Overview
The resorbable polymer market is fragmented. Some of the prominent players in the market (in no particular order) include Ashland, CORBION, KLS Martin Group, Evonik Industries AG, and Foster Corporation.
Resorbable Polymers Market Leaders
-
Ashland
-
CORBION
-
Evonik Industries AG
-
Foster Corporation
-
KLS Martin Group
*Disclaimer: Major Players sorted in no particular order
Resorbable Polymers Market News
- In Jan 2021, Evonik announced the closing of the LACTEL Absorbable Polymers acquisition from DURECT Corporation.
Resorbable Polymers Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from Medical Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Material
5.1.1 Polylactic Acid (PLA)
5.1.2 Polyglycolic Acid (PGA)
5.1.3 Polycaprolactone (PCL)
5.1.4 PGA/PLA Copolymers
5.2 Application
5.2.1 Drug Delivery
5.2.2 Orthopedics
5.3 Geography
5.3.1 Asia-Pacific
5.3.1.1 China
5.3.1.2 India
5.3.1.3 Japan
5.3.1.4 South Korea
5.3.1.5 Rest of Asia-Pacific
5.3.2 North America
5.3.2.1 United States
5.3.2.2 Canada
5.3.2.3 Mexico
5.3.3 Europe
5.3.3.1 Germany
5.3.3.2 United Kingdom
5.3.3.3 Italy
5.3.3.4 France
5.3.3.5 Rest of Europe
5.3.4 Rest of the World
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Ashland
6.4.2 Biogeneral
6.4.3 CORBION
6.4.4 Evonik Industries AG
6.4.5 Foster Corporation
6.4.6 KLS Martin Group
6.4.7 Poly-Med Incorporated
6.4.8 Teknimed
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Applications in 3D Printing of Devices in Medical Industry
7.2 Other Opportunities
Resorbable Polymers Industry Segmentation
Resorbable polymers can be defined as polymers that undergo the degradation or dissolution of their constituent molecules in the body. Degraded or dissolved molecules are finally entirely resorbed by the body. The market segmentation includes material (polylactic acid, polyglycolic acid, polycaprolactone, and PGA/PLA copolymers) and application (drug delivery (oral and parenteral) and orthopedics (trauma, spine, sports medicine, combined magnetic field (CMF), knee, and hip). The report also covers the market size and forecast for the resorbable polymers market in 11 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
| Material | |
| Polylactic Acid (PLA) | |
| Polyglycolic Acid (PGA) | |
| Polycaprolactone (PCL) | |
| PGA/PLA Copolymers |
| Application | |
| Drug Delivery | |
| Orthopedics |
| Geography | |||||||
| |||||||
| |||||||
| |||||||
| Rest of the World |
Resorbable Polymers Market Research FAQs
What is the current Resorbable Polymers Market size?
The Resorbable Polymers Market is projected to register a CAGR of greater than 10% during the forecast period (2024-2029)
Who are the key players in Resorbable Polymers Market?
Ashland, CORBION, Evonik Industries AG, Foster Corporation and KLS Martin Group are the major companies operating in the Resorbable Polymers Market.
Which is the fastest growing region in Resorbable Polymers Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Resorbable Polymers Market?
In 2024, the Asia Pacific accounts for the largest market share in Resorbable Polymers Market.
What years does this Resorbable Polymers Market cover?
The report covers the Resorbable Polymers Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Resorbable Polymers Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Resorbable Polymers Industry Report
Statistics for the 2024 Resorbable Polymers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Resorbable Polymers analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Resorbable Polymers Report Snapshots
