Bioresorbable Polymers Market Analysis By Product (Polylactic Acid (PLA), Polyglycolic Acid (PGA), Polycaprolactone, Polysaccharides, Proteins), By Application (Drug Delivery, Orthopedics), Competitive Landscape, And Segment Forecasts, 2018 - 2025

Industry Insights

The global bioresorbable polymers market size was estimated at 298 tons in 2015. The biocompatibility and cost-effectiveness of the products coupled with the rising demand in medical applications are expected to steer the industry penetration. 

Bioresorbable polymers have an advantage of completely biodegradable inside the human body, which allows the physician 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 human body.

North America bioresorbable polymers industry dominated the global demand owing to increasing product consumption in drug delivery and orthopedics applications in the region. The U.S. is the major R&D hub for the medical sector, which is also expected to raise the demand.

U.S. bioresorbable polymers market revenue by product, 2014-2025 (USD Million)

The product demand has grown significantly in recent years owing to the increasing healthcare awareness among patients coupled with high consumer disposable income in mature economies globally. The extensive efforts by governments to upgrade their health sector are also anticipated to drive product growth.

Bioresorbable polymers cost more than conventional polymers owing to their technological sophistication, which remains the major factor hindering the product growth over the past few years. The lack of advanced healthcare infrastructure in developing regions such as Asia Pacific and Latin America also hampers the market expansion.

Product Insights

Polylactic acid (PLA) based bioresorbable polymers dominated the overall market while accounting for over 29% of the total demand in 2015. 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.

Polyglycolic acid (PGA) is another product category widely used in surgical sutures in medical applications. The polyglycolic acid copolymer (PLGA) is a well-known alternative for PLA in the orthopedic application, which is anticipated to increase the PGA-based product demand.

Polycaprolactone (PCL) is a biomedical polymer that is mostly used in bone tissue engineering. Owing to its low cost, biocompatibility, and high mechanical strength compared to other polymers have led to significant product demand. The PCL-based bioresorbable polymers market is estimated to reach a net worth exceeding USD 88 million by 2025.

Polysaccharides are used in drug delivery systems, and its cost of production is high as compared to the synthetic polymers. In many cases, there is a requirement for additional chemical modification for using polysaccharides which renders them less competitive than other alternatives. Polysaccharides with its biocompatibility, water-solubility, biodegradability, and the ability to form hydrogels, are anticipated to expand the penetration in drug delivery systems over the upcoming years.

Application Insights

The primary applications include drug delivery and orthopedics in the medical sector. The other application areas include tissue engineering, pediatrics, and wound management. Orthopedics emerged as the largest application segment while accounting for over 43% of the total revenue in 2015, owing to its high demand in the trauma and knee sub-applications. 

Global bioresorbable polymers market revenue share by application, 2015

The drug delivery application is anticipated to witness the fastest growth rate at over the forecast period. The increasing demand for these polymers in drug delivery application is due to the patient’s non-willingness to take injections or other procedures repeatedly. Therefore, the drug delivery matrix is implanted in the human body where there is no need for a second surgery, which encourages the patients to pay more for better quality products. The segment is projected to grow at a CAGR of over 14% from 2016 to 2025.

Regional Insights

North America dominated the global industry due to the high level of technological sophistication in the healthcare sector in the U.S. and Canada. The bio polyesters demand in North America captured the maximum share, owing to its improved resistance to weather and enhanced quality that makes it suitable for use in various fields in the medical sector. The regional market is anticipated to grow at a CAGR of 13.6% over the forecast period in terms of value. 

Asia-Pacific is anticipated to be the fastest-growing market, in terms of both value and volume. The rising product demand in the orthopedics and drug delivery applications and the rising healthcare spending is projected to promote the bioresorbable polymers market growth in the region.

Competitive Insights

Carbion and Evonik are the leading manufacturers of bioresorbable polymers and both the companies are highly involved in increasing their production capacities to match the demand scenario. Other prominent companies operating in the industry include Poly-Med, Inc., KLS Martin Group, and Foster Corporation. These enterprises are also undertaking various initiatives to gain a competitive edge, which is likely to drive investments and production capabilities over the forecast period.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis of the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this report, Grand View Research has segmented the global bioresorbable polymers market on the basis of product, application, and region: 

• Product Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • Polylactic acid

  • Polyglycolic acid

  • Polycaprolactone

  • Polysaccharides

  • Proteins

  • Others

• Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • Drug Delivery

  • Orthopedics

  • Others

• Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • The U.K.

    • France

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

  • The Middle East and Africa

  • Central & South America