Resorbable Polymers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Resorbable Polymers Market is Segmented by Material (Polylactic Acid, Polyglycolic Acid, Polycaprolactone, and PGA/PLA Copolymers), Application (Drug Delivery and Orthopedics), and Geography (Asia-Pacific, North America, Europe, and Rest of the World). The report offers market size and forecast for resorbable polymers in terms of revenue (USD million) for all the above segments.

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Resorbable Polymers Industry Overview

Resorbable Polymers Market Forecast
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: > 10 %

Major Players

Resorbable Polymers Market Major Players

*Disclaimer: Major Players sorted in no particular order
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Resorbable Polymers Market Analysis

The resorbable polymers market is projected to record a CAGR of more than 10% during the forecast period (2022-2027).

The COVID-19 impact on the market has been negligent. Additionally, the market is expected to grow steadily during the forecast period.

  • The major factor driving the market is growing demand from the medical industry.
  • Applications in 3D printing of devices in the medical industry are expected to act as an opportunity for the market
  • Asia-Pacific dominated the market globally, with the largest consumption seen in countries such as China and India.

Resorbable Polymers Industry Segments

Resorbable polymers can be defined as polymers that undergo the degradation or dissolution of their constituent molecules in the body. Degraded or dissolved molecules are finally entirely resorbed by the body. The market segmentation includes material (polylactic acid, polyglycolic acid, polycaprolactone, and PGA/PLA copolymers) and application (drug delivery (oral and parenteral) and orthopedics (trauma, spine, sports medicine, combined magnetic field (CMF), knee, and hip). The report also covers the market size and forecast for the resorbable polymers market in 11 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

Material
Polylactic Acid (PLA)
Polyglycolic Acid (PGA)
Polycaprolactone (PCL)
PGA/PLA Copolymers
Application
Drug Delivery
Orthopedics
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
Rest of the World

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Resorbable Polymers Market Trends

This section covers the major market trends shaping the Resorbable Polymers Market according to our research experts:

Orthopedics to Dominate the Market

  • Orthopedics may continue to dominate the market for resorbable polymers during the forecast period.
  • Resorbable polymers are biocompatible, non-toxic, and have properties such as thermoplasticity, strength, crystallinity, degradation characteristics, and hydrophilicity, which are major requirements of implants used in knee, spine, and hip.
  • In addition, resorbable polymers help in tissue regeneration in a hospitable environment, thereby replacing the use of conventional components in orthopedic applications. This factor is driving the market for resorbable polymers.
Resorbable Polymers Market Trends

Asia-Pacific is Projected to be the Fastest Growing Market

  • Asia-Pacific is projected to be the fastest-growing market for resorbable polymers during the forecast period, owing to the growing demand from the medical industry.
  • An increase in medical tourism in countries such as India, Thailand, South Korea, Malaysia, and Taiwan is expected to increase the consumption of various medical products manufactured using resorbable polymers.
  • In addition, high-quality and relatively low-cost medical services provided in countries such as India and Thailand are expected to increase the consumption of resorbable polymers.
  • Also, changes in public healthcare reforms and a rapidly expanding private healthcare sector in the region are expected to boost the market for resorbable polymers.
Resorbable Polymers Market Growth

Resorbable Polymers Market Competitor Analysis

The resorbable polymer market is fragmented. Some of the prominent players in the market (in no particular order) include Ashland, CORBION, KLS Martin Group, Evonik Industries AG, and Foster Corporation.

Resorbable Polymers Market Top Players

  1. Ashland

  2. CORBION

  3. Evonik Industries AG

  4. Foster Corporation

  5. KLS Martin Group

*Disclaimer: Major Players sorted in no particular order

Ashland, CORBION, Evonik Industries AG, Foster Corporation, KLS Martin Group

Resorbable Polymers Market Recent Developments

  • In Jan 2021, Evonik announced the closing of the LACTEL Absorbable Polymers acquisition from DURECT Corporation.

Resorbable Polymers Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from Medical Industry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Material

      1. 5.1.1 Polylactic Acid (PLA)

      2. 5.1.2 Polyglycolic Acid (PGA)

      3. 5.1.3 Polycaprolactone (PCL)

      4. 5.1.4 PGA/PLA Copolymers

    2. 5.2 Application

      1. 5.2.1 Drug Delivery

      2. 5.2.2 Orthopedics

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 Rest of the World

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Ashland

      2. 6.4.2 Biogeneral

      3. 6.4.3 CORBION

      4. 6.4.4 Evonik Industries AG

      5. 6.4.5 Foster Corporation

      6. 6.4.6 KLS Martin Group

      7. 6.4.7 Poly-Med Incorporated

      8. 6.4.8 Teknimed

      5. *List Not Exhaustive

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Applications in 3D Printing of Devices in Medical Industry

    2. 7.2 Other Opportunities

**Subject to Availability
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Resorbable Polymers Market Research FAQs

The Resorbable Polymers Market is studied from 2018 - 2028.

The Resorbable Polymers Market is growing at a CAGR of >10% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

Asia Pacific holds highest share in 2021.

Ashland, CORBION, Evonik Industries AG, Foster Corporation, KLS Martin Group are the major companies operating in Resorbable Polymers Market.

Resorbable Polymers Industry Report

In-depth industry statistics and market share insights of the Resorbable Polymers Market sector for 2020, 2021, and 2022. The Resorbable Polymers Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Resorbable Polymers Market report PDF.

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