Resorbable Polymers Market - Segmented by Material, End-use application, and Geography - Growth, Trends, and Forecast (2019 - 2024)

Resorbable Polymers Market - Segmented by Material, End-use application, and Geography - Growth, Trends, and Forecast (2019 - 2024)

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The resorbable polymers market is expected to grow at a high rate during the forecast period, 2018 to 2023. Asia-Pacific is estimated to be the fastest growing market owing to the growing demand from medical industry. Orthopedic application is expected to be the largest market.

Growing Demand from Medical Industry

Use of conventional materials as implants during surgery requires minor surgery to remove the implants, presenting a health risk to the patient. Resorbable polymers are polymers, which degrade completely without presenting any threat to human body. This gives medical practitioners scope to incorporate resorbable polymers as implants in surgery, thereby, reducing the need for second surgery to remove temporary implants and reducing post-surgery risk to the patients. This has increased the consumption of resorbable polymers in medical industry, which, in turn, is driving the market.

Orthopedics will continue to dominate the market

Orthopedics will continue to dominate the market for resorbable polymers during the forecast period. Resorbable polymers are biocompatible, non-toxic in nature and have properties, such as thermoplasticity, strength, crystallinity, degradation characteristics, and hydrophilicity, which are major requirements of implants used in knee, spine, and hip among others. In addition, use of resorbable polymer helps in tissue regeneration in a hospitable environment, thereby, replacing use of conventional components in orthopedic application, which, in turn, is driving the market for resorbable polymers.

                                                

Asia-Pacific Region 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 medical industry. 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, factors, such as high quality, and relatively low cost medical services provided in countries, such as India, and Thailand is expected to increase the consumption of resorbable polymers. Also, change in public health care reforms and rapidly expanding private health care sector in the region is expected to increase the market for resorbable polymers.

Major Players: Biogeneral, Corbion, Evonik Industries AG, Foster Corporation, and KLS Martin Group, among others.

Reasons to Purchase this Report

  • To understand the impact of end-use industry on the market
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • To understand the dominating material in the market
  • Countries expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)

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1. Introduction

                1.1 Scope of the Report

                1.2 Market Definition

                1.3 Study Assumptions

                1.4 Study Deliverables

                1.5 Research Phases

2. Executive Summary

3. Market Insights

                3.1 Industry Value Chain Analysis

                3.2 Industry Attractiveness - Porter's Five Forces Analysis

                                3.2.1 Threat of New Entrants

                                3.2.2 Threat of Substitute Products and Services

                                3.2.3 Bargaining Power of Buyers

                                3.2.4 Bargaining Power of Suppliers

                                3.2.5 Degree of Competition

4. Market Dynamics

                4.1 Drivers

                                4.1.1 Growing Demand from Medical Industry

                                4.1.2 Other Drivers

                4.2 Restraints

                                4.2.1 Higher Raw Material Cost

                                4.2.2 Other Restraints

                4.3 Opportunities

                                4.3.1 Applications in 3D Printing of Devices in Medical Industry

                                4.3.2 Other Opportunities

5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)

                5.1 By Material

                                5.1.1 Polylactic Acid (PLA)

                                5.1.2 Polyglycolic Acid (PGA)

                                5.1.3 Polycaprolactone (PCL)

                                5.1.4 PGA/PLA Copolymers

                5.2 By End-use Applications

                                5.2.1 Drug Delivery

                                                5.2.1.1 Oral

                                                5.2.1.2 Parenteral

                                5.2.2 Orthopedics

                                                5.2.2.1 Trauma

                                                5.2.2.2 Spine

                                                5.2.2.3 Sports Medicine

                                                5.2.2.4 Combined Magnetic Field (CMF)

                                                5.2.2.5 Knee

                                                5.2.2.6 Hip

                                                5.2.2.7 Others

6. Regional Market Analysis (Market Size, Growth, and Forecast)

                6.1 Europe

                                6.1.1 Germany

                                6.1.2 France

                                6.1.3 Spain

                                6.1.4 United Kingdom

                                6.1.5 Rest of Europe

                6.2 Asia-Pacific

                                6.2.1 China

                                6.2.2 Japan

                                6.2.3 India

                                6.2.4 South Korea

                                6.2.5 Rest of Asia-Pacific

                6.3 North America

                                6.3.1 United States

                                6.3.2 Canada

                6.4 Rest of the World

7. Competitive Landscape

                7.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

                7.2 Market Share Analysis**

                7.3 Strategies Adopted by Leading Players

8. Company Profiles (Overview, Financials**, Products & Services and Recent Developments)

                8.1 Biogeneral

                8.2 CORBION

                8.3 Evonik Industries AG

                8.4 Foster Corporation

                8.5 KLS Martin Group

                8.6 LACTEL Absorbable Polymers

                8.7 POLY-MED, INC.

                8.8 Vornia Ltd

                *List Not Exhaustive

9. Disclaimer

**Subject to availability on public domain

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