Bioresorbable Polymers Industry Overview

The global bioresorbable polymers market size was estimated at USD 1.30 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 13.8% from 2023 to 2030. The globally increasing consumer health awareness, along with improving healthcare facilities and the rising number of surgical procedures are the primary factors aiding industry expansion. As per data by the National Library of Medicine (NLM) in 2020, globally, approximately 310 million major surgeries are conducted annually. Of these, around 20 million surgeries are performed in Europe and 40 to 50 million in the U.S. Bioresorbable, or bioabsorbable polymers, come from a class of materials that can be broken down and absorbed by the body over time.

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These polymers are widely utilized in various fields, with the medical sector being a major one. In medicine, bioresorbable polymers are used in medical devices and implants, such as sutures, screws, tissue scaffolds, plates, and stents. These polymers dissolve in the body gradually, avoiding the need for a second surgery for their removal. Moreover, these polymers are used to create drug delivery systems, such as nanoparticles or microspheres. These systems release medication at a controlled pace and ultimately dissolve in the body, eliminating the need for their removal. Bioresorbable polymers used in medical procedures reduce any post-surgery risks for the patient without harming their body.

The product is manufactured through the polymerization of bio-based raw materials via engineered industrial processes. The rising number of medical implants, such as cochlear implants, pacemakers, breast implants, and hip implants, among others, is a leading factor contributing to market growth. As per the National Institute on Deafness and Other Communication Disorders (NIDCD), around 737 thousand cochlear implants were globally implanted as of December 2019. Similarly, the Organization for Economic Cooperation and Development (OECD) states that hip replacement rates increased by an average of 22% between 2009 and 2019, while knee replacement rates increased by 35%.

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• The global cochlear implant market size was estimated at USD 1.86 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 6.02% from 2024 to 2030.
• The global microspheres market size was valued at USD 3.2 billion in 2015 and is expected to grow at a CAGR of 10.4% over the forecast period.

Bioresorbable Polymers Market Segmentation

Grand View Research has segmented the global bioresorbable polymers market based on product, application, and region:

Bioresorbable Polymers Product Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Polysaccharides
• Proteins
• Polylactic Acid (PLA)
• Polyglycolic Acid
• Polycaprolactone
• Others

Bioresorbable Polymers Application Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• Drug Delivery
• Orthopedics
• Others

Bioresorbable Polymers Regional Outlook (Volume, Tons; Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Poland
  • The Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
• Central & South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

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

Key Bioresorbable Polymers Company Insights

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.

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.