The bioresorbable polymers market size is estimated to be USD 417 million in 2022 and is projected to reach USD 688 million by 2027 at a CAGR of 10.5% during the forecast period. The major drivers in this bioresorbable market are the growing demand for biocompatible medical devices, increasing surgical interventions, growing demand in drug delivery applications, and favorable reimbursement scenarios. The high cost of bioresorbable polymers compared to conventional polymers, lack of quality control in developing countries, and preference for minimally invasive surgeries are the major restraints for bioresorbable polymers. A significant opportunity in the resorbable polymers market is increasing the production of environmentally friendly products to meet the regulatory standards set by various environmental protection agencies. A stringent regulatory framework for medical devices and skilled personnel for the effective use of bioresorbable medical products remains a significant challenge in this market.
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The key market players profiled in the report include Corbion N.V. (The Netherlands), Evonik Industries AG(Germany), Foster Corporation (US), KLS Martin Group (Germany), DSM Biomedical (US), Inc, Ashland Global Holdings Inc. (US), Zeus Industrial Products(US), Inc, Seqens Group (France), REVA Medical, LLC (US), Poly-Med Incorporated (US), Bezwada Biomedical, LLC (US), Nomisma Healthcare Pvt. Ltd. (India), BMG Incorporated (Japan), Polysciences, Inc. (US), Huizhou Foryou Medical Devices Co., Ltd. (China), Musashino Chemical Laboratory, Ltd. (Japan), and Henan Xinghan Biotechnology Co. Ltd.(China).
Ashland Global Holdings Inc. is a global leader in specialty materials, with a broad portfolio in food & beverage, nutraceuticals, personal care & pharmaceutical, adhesives, architectural coatings, construction, and energy sectors. The company has 18 manufacturing and lab facilities in five countries and serves more than 100 countries. It distributes directly and through third-party distributors in regions such as North America, Europe, APAC, and the Middle East & Africa. The company focuses on innovation and developing new chemistries to resolve challenging problems in the medical sector. It works with integrity and respect for its customers, suppliers, and employees. The company provides an encouraging business environment and is open to new and innovative ideas
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In March 2021, Ashland expanded its Viatel bioresorbable polymer manufacturing site and relocated Research & Development (R&D) from Dublin to the National Science Park, Mullingar, Ireland. The National Science Park in Mullingar has a network of innovative organizations, including Ireland’s leading research center for manufacturing solutions (IMR).
DSM Biomedical, Inc. is a subsidiary of Royal DSM. In June 2012, Royal DSM had acquired Kensey Nash Corporation, to strengthen its biomedical business. DSM Biomedical is one of the major manufacturers of polymers for medical implants. It offers a wide portfolio for bioabsorbable polymers, ceramic combinations, and composites. DSM Biomedical, Inc. is one of the world’s leading medical device development & manufacturing companies. It has a strong foothold in Europe, APAC, and North America. The company is investing in innovation and technology to provide customers with innovative solutions and is adopting new technologies. It covers various applications in the healthcare & hospital industry and has a robust global distribution network.
In September 2020, DSM announced a partnership with PBC Biomed, an Ireland-based medical device design and development company. This partnership will initially focus on developing regenerative bone adhesives for safe and cost-effective surgical procedures.
North America was the largest bioresorbable polymers market, in terms of value, in 2021. Globally, it has been leading the market in demand and product innovation in terms of quality and application development. The growing demand backs the growth of the bioresorbable polymers market in the region for these polymers in the medical industry. Intense competition among major players in the market has led to price stabilization in the past few years.
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