Market Size of Resorbable Polymers Industry
| 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 |
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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 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 | |||||||
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| Rest of the World |
Resorbable Polymers Market Size Summary
The resorbable polymers market is experiencing significant growth, driven primarily by increasing demand from the medical industry. These polymers are gaining traction due to their biocompatible and non-toxic properties, making them ideal for use in medical implants such as those used in orthopedic applications. The ability of resorbable polymers to aid in tissue regeneration and their suitability for 3D printing applications further enhance their appeal in the medical sector. The Asia-Pacific region is leading the market, with countries like China and India at the forefront of consumption, largely due to the region's expanding medical tourism and healthcare infrastructure.
The market is characterized by its fragmented nature, with key players including Ashland, CORBION, KLS Martin Group, Evonik Industries AG, and Foster Corporation. The acquisition of LACTEL Absorbable Polymers by Evonik Industries AG from DURECT Corporation highlights the ongoing strategic movements within the industry. The Asia-Pacific region is anticipated to be the fastest-growing market, supported by the region's cost-effective medical services and evolving healthcare policies. This growth trajectory is expected to continue as the demand for resorbable polymers in medical applications expands.
Resorbable Polymers Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from Medical Industry
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Other Restraints
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1.3 Industry Value-Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Material
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2.1.1 Polylactic Acid (PLA)
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2.1.2 Polyglycolic Acid (PGA)
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2.1.3 Polycaprolactone (PCL)
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2.1.4 PGA/PLA Copolymers
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2.2 Application
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2.2.1 Drug Delivery
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2.2.2 Orthopedics
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 Rest of the World
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Resorbable Polymers Market Size 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.
