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Market Overview

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The Bioresorbable Polymers Market Size was valued at USD 1,314 million in 2021 and is projected to grow to USD 3,673 million by 2030, exhibiting a compound annual growth rate (CAGR) of 12.8% during the forecast period (2022-2030). The healthcare sector, particularly the drug delivery system, heavily relies on bioresorbable polymers. The increasing use of these polymers in various applications such as orthopedics and dentistry is expected to drive the demand for bioresorbable polymers in the coming years.

Bioresorbable polymers have played a significant role in advancing drug delivery technology. They enable controlled release of therapeutic agents in consistent dosages over extended periods, facilitating cyclic dosing and the release of both hydrophilic and hydrophobic drugs. The field has evolved considerably, moving beyond the use of common materials. The current focus is on designing polymers with specific biological activities and customization to accommodate different cargoes, thereby driving advancements in drug delivery. Bioresorbable polymers offer controlled release to targeted sites, stability for unstable molecules like proteins, and the ability to modify surfaces with ligands for targeted and confidential drug delivery within the human body.

Polymeric nanoparticles have found extensive use in polymer therapies and nanomedicines. These solid, mostly spherical structures made from organic or synthetic polymers are utilized for drug delivery. Polymeric nanoparticles have been tested for delivering a variety of drug types, including small hydrophilic and hydrophobic drugs, vaccines, peptides, and biological macromolecules. Biodegradable polymers like poly(lactide-co-glycolide) and poly(lactide) copolymers are particularly successful in producing polymeric nanoparticles. Therefore, the abundant properties of bioresorbable polymers in developing novel drug delivery systems and nanomedicines will drive the bioresorbable polymers market in the forecast period. The increasing demand for drug delivery systems from the medical sector further contributes to the growth of the Bioresorbable polymers market revenue.

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Market Segmentation

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The market is segmented based on various factors, including type, application, and region.

Segmentation by Type
Agro-polymers-Proteins and Polysaccharides
Bio-Polyesters-Polyglycolic Acid, Polylactic Acid, Polycaprolactone, Polydioxanone, and Others

Segmentation by Application
Orthopedics
Drug Delivery
Biodegradable Devices
Others

Segmentation by Region
North America- US and Canada
Europe- Germany, France, UK, Italy, Spain, and Rest of Europe
Asia-Pacific- China, Japan, India, Australia, South Korea, Australia, and Rest of Asia-Pacific
Latin America- Mexico, Argentina, Brazil, and Rest of Latin America
Middle East & Africa- GCC Countries, South Africa, and Rest of Middle East & Africa

The market segmentation of Bioresorbable polymers is based on type, including agro-polymers and bio-polyesters. In 2021, the bio-polyesters segment held the largest market share in terms of revenue. Agro-polymers are further categorized into proteins and polysaccharides, while bio-polyesters are divided into polyglycolic acid, polylactic acid, polycaprolactone, polydioxanone, and others. Bio-polyesters are derived from renewable sources such as oil and fats, and commonly used variants include polyglycolic acid, polylactic acid, polycaprolactone, polydioxanone, and others.

In terms of application, the Bioresorbable polymers market segmentation includes orthopedic, drug delivery, biodegradable devices, and others. The orthopedic segment accounted for the largest market share of 41.81% in 2021, with a value of USD 549 million. This segment is expected to register a CAGR of 13.8% during the forecast period. Polylactic acid (PLA) and polyglycolic acid (PGA) are prominently used in orthopedic applications due to their ability to degrade through hydrolysis and enzymatic activity. These polymers possess strong physical and mechanical properties, making them ideal for manufacturing medical devices used in various orthopedic implant surgeries. Material selection for orthopedic implants depends on their physical, mechanical, and degradation properties, which contribute to more efficient products and drive market growth.

In February 2020, Evonik Industries AG introduced the world’s first bioresorbable polymer in powder form, suitable for high-resolution printing of implantable medical devices. This innovation has benefited dental, orthopedic, and soft tissue application areas, improving patient healing and device performance for products like Craniomaxillofacial plates, soft tissue scaffolds, spinal fusion cages, and dental mesh.

The market is further segmented by region into North America, Europe, Asia-Pacific, and the Rest of the World. North America dominated the market in 2021, accounting for a share of 44.03% and a value of USD 579 million. It is expected to exhibit the highest CAGR of 12.60% from 2022 to 2030. Europe held the second-largest share at 25.92% in 2021, valued at USD 341 million, with a projected CAGR of 11.9%. The North American market is primarily driven by the availability of raw materials and the increasing demand for bioresorbable polymers across medical, pharmaceutical, and other industries. The healthcare sector in North America, including the US and Canada, is expanding due to economic changes and higher per capita income.

The major countries studied in this market include the US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

In the European region, the Bioresorbable polymers market is largely supplied by countries like the UK and Germany. The growing demand for drug delivery systems in Europe is expected to drive the market further. Germany holds the largest market share and is the fastest-growing market for Bioresorbable polymers in Europe.

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Competitive Landscape

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Major market players in the Bioresorbable polymers industry have established large production bases and advanced manufacturing facilities both domestically and internationally. This enables them to efficiently supply their products to customers worldwide, giving them a competitive advantage over small-scale manufacturers. The United States and Canada are leading producers of merchant bioresorbable polymers, while European countries contribute significantly to the market’s revenue base.

Manufacturers in the Bioresorbable polymers market have adopted various strategies to benefit clients and expand their market sector. One primary strategy is local manufacturing, which helps reduce operating costs. However, market growth faces challenges such as intense competition, technological advancements, changes in government policies, and environmental regulations.

Poly-Med Inc. is a prominent player in the design and production of bioresorbable products. The company operates in several business segments, including Bioresorbable polymers, Biomedical textiles & Fiber, Electrospinning, Tissue scaffolds and devices, Polymer for Drug delivery, and 3D Printing Technology. Poly-Med offers customized solutions to meet the needs of innovative medical product manufacturers and stands out as the only vertically integrated company delivering high-quality solutions efficiently.

Merck KGaA is a dynamic science and technology company with a diversified product portfolio. It provides progressive treatment solutions that improve access to health. Their advanced treatment solutions and innovative technologies play a crucial role in tackling major illnesses and shaping a better tomorrow. The company operates in key business segments: Life science, healthcare, and electronics.

Key Companies Profiled in this report include Evonik Industries AG, Corbion NV, Foster Corporation, Poly-Med Inc., REVA Medical, Inc, Groupe PCAS, Merck KGaA, Koninklijke DSM N.V, KLS Martin, Ashland.

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Recent Industry Developments

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In May 2020, Evonik Industries AG revealed its plans to construct a state-of-the-art biomaterial manufacturing facility in Birmingham, Alabama, USA. This facility aims to enhance the production capacity of RESOMER bioresorbable polymers, ensuring compliance with good manufacturing practices (GMP). The expansion is a response to the increasing market demand for these polymers in the field of implantable medical devices and parenteral medicines.

In September 2022, Ashland Group announced its intention to expand its Viatel bioresorbable polymer manufacturing and research & development site located at the National Science Park in Mullingar, Ireland. This park is known for fostering innovation among various organizations. The expansion project, which began in June 2022, signifies Ashland Group’s commitment to advancing long-acting injectables. The capital expansion program is set to be completed by 2024.

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Key Questions Answered

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What is the market size of the Bioresorbable Polymers market?
What is the size of the Bioresorbable Polymers market in the United States?
What is the growth rate of the Bioresorbable Polymers market?
Which region holds the largest market share in the Bioresorbable Polymers market?
Who are the major players in the Bioresorbable Polymers market?
Which segment dominates the Bioresorbable Polymers market?