Bio-based Polypropylene In Medical Devices Market Size, Share & Trends Analysis Report By Application (Heart Valve Structures, Surgery Sutures, Surgical Mesh, Others), By Region, And Segment Forecasts, 2023 - 2033

Report Overview

The global bio-based polypropylene in medical devices market size was estimated at USD 10.1 million in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 19.5% from 2023 to 2030. Cost-effectiveness and advancement in technology are factors propelling the demand for bio-based polypropylene for the manufacturing of medical devices, especially used as implants across the human anatomy. Attributes including biocompatibility of bio-based polypropylene make the resin suitable for the manufacturing of surgical sutures. Medical sutures are not only limited to surgical procedures; they are additionally utilized to fix and heal wounds and mild concussion injuries. Such cases of injuries have propelled the demand for bio-based polypropylene for the manufacturing of surgical sutures, hence boosting the demand for bio-based polypropylene across the medical industry.

The increasing cases of hernia and increasing healthcare expenditure across the U.S. are anticipated to propel the demand for bio-based polypropylene surgical mesh for hernia repair. According to the American College of Surgeons (ACS), Healthcare Cost & Utilization Project (HCUP), and The United States Food & Drug Administration (FDA) in 2022, an estimated 611,000 ventral and approximately one million inguinal hernia repairs were performed.

Furthermore, according to the American Medical Association (AMA), healthcare expenditure in the U.S. will increase by 2.7% in 2021 to USD 4.3 trillion, which is anticipated to introduce technological advancements across the medical industry in the U.S., hence boosting the demand for bio-based polypropylene surgical mesh during the forecast period.

Application Insights

In terms of application, the heart valve structures segment dominated the market in 2022 with a revenue share of above 35%, followed by surgery sutures, and surgical mesh, respectively.

Rising heart ailments and increasing death rates due to cardiac arrest have propelled the demand for technological advancements across the cardiac sector of the medical industry globally. This is anticipated to boost the demand for bio-based polypropylene heart valve structures segment during the forecast period.

Regional Insights

In terms of region, the Asia Pacific region dominated the market in 2022 with a revenue share of over 63% in 2022. The rising population, increasing healthcare expenditure, and advancement in technology across emerging economies such as China and India, are anticipated to fuel the demand for bio-based polypropylene in medical devices during the forecast period.

The Government of India announced a medical expenditure of USD 10.49 billion (Rs. 862 billion), as per the country’s 2022-23 budget release under the Ministry of Health and Family Welfare (MoHFW). Furthermore, technological advancement across nations including China, Japan, and Southeast Asia, has propelled the demand for utilization of bioplastics across medical applications.

Key Companies & Market Share Insights

Research activities across the market are focused on new materials that combine several properties and they are projected to gain wide acceptance in this industry in the coming years. Some prominent players in the global bio-based polypropylene in medical devices market include:

• SABIC

• LyondellBasell Industries Holdings B.V.

• Mitsui Chemicals, Inc.

• Borealis AG

• Braskem

• Total S.A.

• Danimer Scientific

• FKuR Kunststoff GmbH

• GREENMANTRA

• Avient Corporation

Bio-based Polypropylene In Medical Devices Market Report Scope

Global Bio-based Polypropylene In Medical Devices Market Report Segmentation

This report forecasts revenue and volume growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global bio-based polypropylene in medical devices market report based on application and region:

• Application Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

  • Heart Valve Structures

  • Surgery Sutures

  • Surgical Mesh

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Italy

    • The Netherlands

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

    • Indonesia

    • Thailand

    • Vietnam

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • United Arab Emirates (UAE)

    • South Africa