Market Insights:
Bioresorbable Polymers Market was sized at USD 1.15 Billion in 2021, and the market is projected to witness a growth of USD 3.65 Billion by 2030 at a CAGR of 13.6% during the forecast period (2022-2030).
Bioresorbable polymers are referred to as bioabsorbable polymers, resorbable polymers, absorbable polymers, and degradable polymers. Such polymers are either synthetic (man-made) in nature or derived from natural sources and further have a high level of compatibility with the human body. Moreover, bioresorbable polymers are versatile materials with a wide range of applications in various industries, including medical devices, tissue engineering, drug delivery, and others. Such polymers are designed to dissolve, break down, or be metabolized by the body over time, reducing the need for follow-up procedures and minimizing the risk of long-term implant-related complications.
In medical applications, bioresorbable polymers are designed to break down into smaller molecules that are safely eliminated from the body, either through normal metabolic processes or excretion. This eliminates the need for additional surgical procedures to remove the implant and reduces the risk of long-term complications associated with permanent implants. Some common examples of bioresorbable polymers include polylactic acid (PLA), polyglycolic acid (PGA), and polycaprolactone (PCL).
Additionally, key companies invest in research and development to manufacture new products to broaden their product portfolio and maintain their position in the market. For instance, in October 2021, Total Corbion PLA developed a new grade of PLA derived from recycled waste as Luminy rPLA to strengthen its PLA product portfolio. Moreover, the development of a new grade of PLA from recycled waste focuses on sustainability and reducing the environmental impact. Furthermore, the Asia-Pacific is expected to be the fastest-growing market for biodegradable polymers due to the increasing demand for environmentally friendly products and favorable government regulations for promoting the use of biodegradable materials.
Market Dynamics:
Driver:
The bioresorbable polymer market is growing rapidly due to increasing concerns about plastic waste and its impact on the environment. Biodegradable polymers offer a more sustainable alternative to conventional petroleum-based plastics, as they can degrade the environment in a controlled and non-toxic manner. All these factors drive the growth of the market. Moreover, the growth of the market is driven by factors such as increased demand for more sustainable and environmentally friendly medical products and advancements in bioresorbable material technology.
Restraint:
Bioresorbable polymers are generally more expensive than conventional petroleum-based plastics, which acts as a barrier to their adoption by many small-scale industries. The production of bioresorbable polymers requires more complex and specialized processes, which leads to higher production costs. Additionally, the raw materials used to produce bioresorbable polymers are often more expensive than those used for conventional petroleum-based plastics. All these factors hamper the growth of the market.
Opportunities
The development of new biodegradable polymer degradation mechanisms and new biodegradation techniques, to improve the speed and control of biodegradation is likely to offer immense opportunities for the growth of the overall market in terms of value sales during the forecast period.
Bioresorbable Polymers Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 3.65 Billion |
| CAGR (2022-2030) | 13.6% |
| By Product Type | Polylactic Acid (PLA), Polyglycolic Acid (PGA), Poly-L-Lactic Acid (PLLA), Polylactic-Co-Glycolic Acid (PLGA), Polycaprolactone (PCL), and Others |
| By Classification | Natural, and Synthetic (Renewable Resources and Petroleum-Based Resources) |
| By Application | Orthopedic, Drug Delivery, Medical Devices, and Others |
| By Geography | North America, Europe, Asia Pacific, Latin America, the Middle East &Africa |
| Key Players | Danimer Scientific, Inc., Evonik, Corbion, DSM, Mitsui Chemicals, PCAS, Poly-Med, KLS Martin, 3D Biotek LLC, and Foster Corp. |
Market Segmentation:
By Product Type
Based on the product type, the market is categorized into polylactic acid (PLA), polyglycolic acid (PGA), poly-l-lactic acid (PLLA), polylactic-co-glycolic acid (PLGA), polycaprolactone (PCL), and others. Polylactic Acid (PLA)-based bioresorbable polymers dominated the market and accounted for the largest share in 2021. Owing to the unique properties of polylactic acid such as biodegradability, biocompatibility, good mechanical strength, thermal stability, transparency, and others Polylactic Acid (PLA)-based bioresorbable polymers had a high demand in 2021. Moreover, polylactic acid has several applications in various industries, including medical, packaging, textile, agriculture, and others.
Furthermore, polylactic-co-glycolic acid (PLGA) is expected to be the fastest-growing segment during the forecast period. Owing to their widespread use in various medical applications such as drug delivery systems, sutures, implants, and scaffolds, their demand is expected to increase over the forecast period.
By Classification
Based on the classification, the market is divided into natural and synthetic resources. The natural resources segment dominated the market in terms of revenue share in 2021. This is owing to the increasing demand for environmentally friendly and biodegradable materials, as well as the growing concern for reducing carbon footprint and mitigating environmental impacts. Additionally, the availability of natural resources such as corn starch, sugarcane, and cassava, has further boosted the growth of the natural bioresorbable polymers segment.
Moreover, synthetic resources are segmented into renewable resources and petroleum-based resources and the renewable segment is expected to be the fastest-growing segment during the forecast period. Owing to its use in a wide range of applications such as medical devices, drug delivery systems, and tissue engineering its demand will grow rapidly in the future.
By Application
The application segment is categorized into orthopedic, drug delivery, medical devices, and others. The dominating segment of the market is the orthopedic segment, accounting for the largest share of the market in 2021. This is attributed to the orthopedic applications of bioresorbable polymers including spinal fusion devices, suture anchors, and bone screws. Bioresorbable polymers offer several advantages in orthopedic applications, such as their ability to dissolve over time, reducing the need for additional surgeries to remove implanted devices, and their biocompatibility, reducing the risk of adverse reactions.
Moreover, the fastest-growing application segment of the bioresorbable polymers market is the drug delivery segment. As the increasing demand for biodegradable and biocompatible drug delivery systems drives segment growth. Bioresorbable polymers offer several advantages in drug delivery, including their ability to control the release of drugs over time, protect drugs from degradation in the body, and minimize the risk of adverse reactions.
By Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. North America dominated with the largest share of the market in 2021. This is attributed to the strong healthcare infrastructure, with advanced medical facilities and a high adoption rate of medical devices, which drives demand for bioresorbable polymers.
Moreover, the Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period. As, Asia Pacific is experiencing a growing demand for minimally invasive surgical procedures, along with environmentally friendly products which are driving demand for medical devices made from bioresorbable polymers.
Bioresorbable Polymers Market Competitive Landscape:
The bioresorbable polymers market is highly competitive, with several key players offering various types of vaccines. These companies compete on factors such as price, efficacy, safety, and accessibility of their vaccines, as well as their marketing and distribution strategies. In addition, several emerging players are focusing on developing new and innovative bioresorbable polymers, which are likely to further increase the level of competition in the market in the coming years. Key companies include-
- Danimer Scientific, Inc.
- Evonik
- Corbion
- DSM
- Mitsui Chemicals
- PCAS
- Poly-Med
- KLS Martin
- 3D Biotek LLC
- Foster Corp.
Recent Developments:
- In March 2022- DSM Biomedical collaborated with Svelte Medical Systems to develop DISCREET bioresorbable coating technology. The technology will be used with SLENDER IDS and DIRECT RX bioresorbable coated drug-eluting stent (DES) systems. The collaboration between these two companies is aimed at promoting the development of innovative and sustainable solutions in the medical devices industry.
- In November 2021- Danimer Scientific, Inc. and Total Corbion PLA, announced that they have entered into a long-term collaborative arrangement for the supply of Luminy PLA, a biobased polymer used to manufacture compostable products. As Danimer Scientific, Inc. continues to scale up the commercial production of Nodax, it’s signature polyhydroxyalkanoate (PHA), this agreement enhances Danimer’s ability to fulfill customer needs for resins that require a blend of PLA- and PHA-based inputs.
- In July 2021- Danimer Scientific, Inc. acquired Novomer Inc, a leading developer of conversion technology that provides low-carbon inputs into the production of biodegradable materials, including PHA-based resins. The acquisition is valued at USD 152 million in a cash transaction and is expected to help Danimer expand its product portfolio and strengthen its position in the market.
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