Bioresorbable Polymers Market Size to Grow at a CAGR of 10.3% by 2028

Asia Pacific is estimated to register the fastest CAGR in the global market over the forecast period.

NEW YORK, UNITED STATES, March 29, 2022 /EINPresswire.com/ -- The scope of The Insight Partners recent study, titled "Bioresorbable Polymers Market to 2028 - Covid-19 Impact and Global Analysis by Type [Polylactic Acid (PLA), Polyglycolic Acid (PGA), Polydioxanone, Polycaprolactone (PCL), and Others] and Application (Orthopedic Devices, Drug Delivery, and Others)" consists of the factors fueling the market growth, revenue estimation and forecast, and market share analysis. It also includes the identification of significant market players along with their key developments.

The bioresorbable polymers market was valued at US$ 3,260.07 million in 2021 and is projected to reach US$ 6,463.07 million by 2028. It is expected to grow at a CAGR of 10.3% from 2021 to 2028.

Download sample PDF Copy of Bioresorbable Polymers Market study at: https://www.theinsightpartners.com/sample/TIPRE00026862/

Bioabsorbable polymers are the type of absorbable materials used in implanted medical devices to offer a physical structure to aid the healing process. Moreover, they also function as a drug delivery mechanism. The growing volumes of surgical procedures, rising demand for biocompatible medical devices, increasing demand for bioresorbable polymers in the drug delivery application, and favorable reimbursement scenarios are some of the key factors driving the growth of the global bioresorbable polymers market. Moreover, rising demand for bioresorbable polymer-based medical implants and wound dressing covers is also driving the market growth.

The growing number of road and work-related accidents globally is fueling the demand for orthopedic surgery. As per the World Health Organization (WHO) report, every year, around 20 to 50 million people, worldwide, suffer from a non-fatal injury in road accidents. Another study by the International Labor Organization (ILO), states that around 2.3 million of the population across the world meet work-related accidents every year. Road and work-related accidents cause multiple fractures, joint dislocation, ligament damage, and broken bones at several body parts, requiring orthopedic implants to heal and cure the injury.

The growing instances of accidents, sports injury, and the ageing population globally is surging the need for various joint and bone surgeries. Bioresorbable polymers are extensively used to make sutures, screws, stents, pins, rods, and plates in implant devices. After adding these devices to the body, they perform the desired action, and once done, these implants get absorbed in the body by themselves. Further, these implants break down naturally after implantation, during the healing and supporting process. Resorbable polymer-based orthopedic implants demand is increasing due to its improved clinical outcomes and no additional surgery requirement for removal of temporary implants.

Inquire for Discount on Bioresorbable Polymers Market: https://www.theinsightpartners.com/discount/TIPRE00026862/?utm_source=EINPressWire&utm_medium=10357

Bioresorbable Polymers Market: Competitive Analysis

Bezwada Biomedical, LLC; Evonik Industries AG; Foster Corporation; Ashland; Musashino Chemical Laboratory, Ltd.; Huizhou Foryou Medical Devices Co., Ltd.; Polysciences, Inc.; BMG; Poly-Med Incorporated; And Reva Medical, LLC., are the key players in the bioresorbable polymers market.

Bioresorbable Polymers Market by Type

The type segment of the global bioresorbable polymers market is bifurcated into polylactic acid (PLA), polyglycolic acid (PGA), polydioxanone, polycaprolactone (PCL), others. The Polyglycolic Acid (PGA) segment led the bioresorbable polymers market with the largest revenue share of the market in 2020.

Which region registered the fastest CAGR in the global bioresorbable polymers market?

Asia Pacific is estimated to register the fastest CAGR in the market over the forecast period. The presence of high-growth markets such as India, China, and Japan due to the rapid increase in the geriatric population; increase in the number of hospitals; the implementation of favorable government initiatives; rise in investments in the healthcare industry; surge in demand for cutting-edge surgery products; and the expansion of private-sector hospitals in the rural areas are driving the market in the region. The increase in the elderly population across the region has led to a higher prevalence of osteoarthritis and other conditions, resulting in injuries requiring orthopedic devices.

Impact of COVID-19 Pandemic on the Bioresorbable Polymers Market

The COVID-19 has restricted the manufacturing and supply chain, hampering many businesses globally. The bioresorbable polymers market is one of the severely hit industries by this pandemic, with the chemicals and materials industry facing disruption in the raw material supply chain. However, several countries has eased the lockdown restrictions, as a result the manufacturing units have been reopened and an increase in surgeries, leading to a raised demand and production of medical devices. This factor will positively impact the bioresorbable polymer market over the next few years.

Order a Copy of Bioresorbable Polymers Market Share, Strategies and Forecasts 2021-2028 Research Report at: https://www.theinsightpartners.com/buy/TIPRE00026862/

The "bioresorbable polymers market analysis to 2028" is a specialized and in-depth study of the chemical and material industry, focusing on global market trend analysis. The report aims to provide an overview of the bioresorbable polymers market with detailed market segmentation based on the type, application, and the geography. Based on the type, the market is segmented into polylactic acid (PLA), polyglycolic acid (PGA), polydioxanone, polycaprolactone (PCL), others. Based on the application, the market is segmented into orthopedic devices, drug delivery, and others.

About The Insight Partners

The Insight Partners is a one-stop industry research provider of actionable solutions. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are specialist in industries such as Technology, Media, Food and Beverage, Chemical & materials, and Telecommunication.

Press Release: https://www.theinsightpartners.com/pr/bioresorbable-polymers-market
More Research: https://www.theinsightpartners.com/categories/chemicals-and-materials

Contact Us:

Sameer Joshi
The Insight Partners
+91 96661 11581
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn