The global bioresorbable polymers market size was estimated at USD 1.14 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.7% during the forecast period. Technological advancements, innovations in plastics, and evolved decontamination devices are boosting the product demand, thereby augmenting the industry's growth. Bioresorbable polymers can biodegrade inside the human body, which allows physicians to eliminate the need for a second surgery to remove temporary implants. It also reduces the post-surgery risk to the patient without posing a threat to the patient’s body. The product is manufactured through the polymerization of bio-based raw materials through engineered industrial processes.
Bioresorbable polymers, such as polysaccharides, proteins, Polylactic Acid (PLA), polyglycolic acid, and polycaprolactone, are usually manufactured from vegetable oils derived from rapeseed, or sunflower corn fiber, castor, soybean, heat by-products, food processing waste, potato, corn, stems, paper mill sludge, livestock waste, leaves, and others. The bio-based content in polymer varies depending on the type of feedstock that is used during manufacturing. The U.S. is expected to dominate the overall industry during the forecast period. This growth is on account of the increasing product demand from the healthcare sector.
The improved healthcare sector in the U.S. has resulted in increased life expectancy and a rise in the geriatric population in the country. The synovial fluid within the orthopedic joints usually drys due to aging, which has driven the demand for orthopedic elective surgeries, thus creating a positive growth opportunity for the industry. With the abundant supply of PLA across the U.S., the market finds usage across various applications in the healthcare sector of the country. The use of bioresorbable polymer materials is expected to expand to the realm of spinal interbody fusion, in which α-polyesters is the most promising group in polylactic acids.
Moreover, the collaboration witnessed between hospitals and medical groups established for catering to armed forces can further contribute to the rise in orthopedic surgeries, thus directly impacting the demand for bioresorbable polymers. For instance, in February 2022, 87th Medical Group collaborated with the Keller Army Community Hospital to provide orthopedic care services to Joint Base McGuire-Dix-Lakehurst members.
Polylactic Acid (PLA)-based bioresorbable polymers dominated the industry and accounted for more than 29.25% of the overall demand in 2021. Polylactic acid exhibits stiffness, biocompatibility, and relatively high strength and high modulus, making it suitable for use in the manufacturing of fixation devices, such as arrows, washers, pins, and screws in orthopedic surgeries. PLA-based product has the advantage of getting naturally converted into lactic acid in the body at low concentrations and can be safely removed by the body’s excretory system. Also, its degradable nature allows it to safely degrade and dissolve, thus eliminating the need for secondary surgery, which requires component removal.
On account of rapid degradation as compared to other biopolymers, polyglycolic acid has witnessed growing demand in drug delivery applications. Polyglycolic acid is used for protein delivery, chemotherapeutics, vaccines, analgesics, antibiotics, siRNA, and anti-inflammatory drugs. Most often, the bioresorbable polymers are categorized into microcapsules, microspheres, nanofibers, and nanospheres to facilitate the controlled delivery of adsorbed or encapsulated payloads. Another product of bioresorbable polymer is Polycaprolactone (PCL), which is expected to grow at a steady rate by 2030. It is an excellent biomedical polymer and is widely used in bone-tissue engineering owing to its properties, such as biocompatibility, high mechanical strength, and low cost compared to other polymers, which has resulted in significant product demand.
Orthopedics emerged as the dominant application segment in 2021 and accounted for more than 43.50% share of the global revenue owing to their various products like sutures, screws, stents, and pins used in different medical procedures. The wide product usage in the biomedical settings, including prostheses and repairing injured joints, among others is boosting the segment growth. Resorbable polymer-based implants enhance patient care and clinical results while lowering the expense of further procedures and surgeries. The drug delivery application is predicted to witness the fastest growth rate during the forecast period.
The increasing demand for these polymers in medical applications is due to the unwillingness of patients to take injections. To avoid the necessity for a second operation, the medication delivery matrix is implanted within the human body. These factors are expected to propel industry growth. The high demand for these polymers due to their simplicity in dissolving in bodily fluids without leaving any lasting negative effects and the increase in demand for medication delivery applications fuel the market's expansion. The huge demand for the product in biomedical settings, including prostheses and repairing injured joints, among other uses, and the favorable government reimbursement are expected to boost the global bioresorbable polymer market.
North America dominated the global industry and accounted for the largest revenue share of more than 32.0% in 2021. This is attributed to the increasing product consumption in drug delivery and orthopedics applications in the region. The U.S. is the major hub for research & development in the healthcare industry, further driving the bioresorbable polymers sector in North America. Moreover, the rising demand for orthopedics and drug delivery applications also supports this region’s bioresorbable polymers demand. The Asia Pacific is anticipated to be the fastest-growing region from 2022 to 2030, in terms of both value and volume.
High economic growth in emerging countries and the increasing disposable income of people make APAC an attractive market for bioresorbable polymers. Other factors contributing to the growth of the market in APAC are the presence of high-growth economies, such as India, China, and Japan; rapid growth in the geriatric population; an increasing number of hospitals; supportive reimbursement policies; the implementation of favorable government initiatives; rising per capita income; high investments in the healthcare industry; demand for cutting-edge surgery products; and the expansion of private-sector hospitals to rural areas.
Moreover, the rising demand for polymers in drug delivery and orthopedics applications coupled with the increased healthcare spending is projected to fuel the demand for the product in the region. The increased healthcare spending and rising demand for polymers in drug delivery & orthopedics applications are also projected to fuel the product demand in APAC. India and the U.S. collaborated to promote orthopedic research and education, which is expected to further drive the demand for bioresorbable polymers. In March 2022, Shalby Advanced Technologies, headquartered in Gujarat, collaborated with Gardner Orthopedics, based in the U.S., to form Advanced Orthopedic Centres of Excellence in India, Fort Myers, and Florida.
Companies are rapidly expanding their production capabilities to consolidate their market position. With governmental support in various countries focused on environmental concerns as well as the growing demand for specialized orthopedic and drug delivery applications in the global population, industry players have been compelled to focus on consumer-specific product positioning strategies for higher penetration in the local markets. For instance, in August 2021, Evonik Industries AG acquired a German biotech company, JeNaCell, to expand its biomaterials product portfolio in the healthcare industry. The acquisition will help Evonik’s Nutrition & Care division’s portfolio transformation to system solutions and will expand the division’s natural goods for the medical technology platform. Some prominent players in the global bioresorbable polymers market include:
Corbion NV
Evonik Industries AG
Poly-Med Inc.
Foster Corp.
Abbott
KLS Martin Group
3D Biotek LLC.
Sunstar Suisse S.A.
DSM
Futerro
Report Attribute |
Details |
Market size value in 2022 |
USD 1.30 billion |
Revenue forecast in 2030 |
USD 3.63 billion |
Growth Rate |
CAGR of 13.7% from 2022 to 2030 |
Base year for estimation |
2021 |
Historical data |
2019 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Volume in tons, revenue in USD million/billion, and CAGR from 2022 to 2030 |
Report coverage |
Volume forecast, revenue forecast, competitive landscape, growth factors, and trends |
Segments covered |
Product, application, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; Canada; Mexico; Germany; U.K.; France; Italy; China; India; Japan; Brazil; Saudi Arabia |
Key companies profiled |
Corbion NV; Evonik Industries AG; Poly-Med Inc.; Foster Corp.; Abbott; KLS Martin Group; 3D Biotek LLC; Sunstar Suisse S.A.; DSM; Futerro |
Customization scope |
Free report customization (equivalent to up to 8 analysts' working days) with purchase. Addition or alteration to country, regional & segment scope |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, Grand View Research has segmented the global bioresorbable polymers market report on the basis of product, application, and region:
Product Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)
Polysaccharides
Proteins
Polylactic Acid
Polyglycolic Acid
Polycaprolactone
Others
Application Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)
Drug Delivery
Orthopedics
Others
Regional Outlook (Volume, Tons; Revenue, USD Million, 2019 - 2030)
North America
U.S
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Asia Pacific
China
India
Japan
Central & South America
Middle East & Africa
b. The global bioresorbable polymers market size was estimated at USD 1.14 billion in 2021 and is expected to reach USD 1.30 billion in 2022.
b. The global bioresorbable polymers market is expected to grow at a compound annual growth rate of 13.7% from 2022 to 2030 to reach USD 3.63 billion by 2030.
b. North America dominated the bioresorbable polymers market with a share of 32.26% in 2021. This is attributable to a high level of technological sophistication in the healthcare sector in the U.S. and Canada.
b. Some key players operating in the bioresorbable polymers market include Carbion NV, Evonik Industries AG, Poly-Med, Inc., KLS Martin Group, and Foster Corporation.
b. Key factors that are driving the bioresorbable polymers market growth include the biocompatibility and cost-effectiveness of the products coupled with the rising demand in medical applications.
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Halted manufacturing activities across various end-use industries has led to weakened demand for specialty polymers. The prevailing macroenvironment due to the pandemic shall register indications of recovery depending on the course of COVID-19's prevalence and subsequent resuming of manufacturing activities. The report will account for Covid19 as a key market contributor.
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