Worldwide Bioresorbable Polymers Market – Future Growth Projections
Bioresorbable polymers are a chemical compound, which is widely used in the orthopedic implant procedures. The report “Global Bioresorbable Polymers Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” by DecisionDatabases.com covers the analysis of the titanium dioxide market using analytical tools such as Porter’s Five Forces Model. It provides the value chain analysis, market attractiveness analysis, and company share analysis along with key player’s complete profiles.
Growing demand for these polymers in drug delivery application and its rising preference due to its patient-friendly & cost-effective features are expected to drive the demand for bioresorbable polymers market
over the coming years. Over the past few years, its demand has increased in drug delivery application due to the rising preference for non-injectable medications amongst patients. These polymers are easily dissolved and absorbed by the human body. These are an appropriate material for prosthetics and are incorporated to dissolve with the similar rate as a new bone development. Additionally, increasing surgery procedures worldwide, growing health awareness and improving healthcare facilities across the globe will have a positive impact on the market growth of the polymers in the forthcoming years. However, high-cost of polymers over traditional polymers and lack of quality control procedures in the emerging economies are key restraints, which may hinder market growth during the forecast period.
The global bioresorbable polymers market has been segmented based on types into as agro-polymers, proteins, polysaccharides, biopolyesters, polylactic acid, polyglycolic acid, and polycaprolactone. The biopolyesters is the fastest growing segment and is expected to grow at the highest CAGR over the coming years on account of the increasing application scope in the medical sector worldwide due to its better weather-resistance and enhanced quality properties. The bioresorbable polymers market has been further segmented based on applications into orthopedics, drug delivery, and others. The orthopedics is a leading application segment and is anticipated to witness a significant growth over the coming years due to its rising demand in the trauma and knee sub-applications. The drug delivery application is expected to grow at an outstanding rate in the near future on account of increasing implantation of polymers controlled drug delivery in the body. Bioresorbable polymers encourage patients to pay more for the enhanced drug delivery application which doesn't need to be removed by a subsequent surgery and get absorbed in the body after completion of their function.
North America is a major bioresorbable polymers market and is projected to continue its dominance over the coming years due to growing drug delivery and orthopedics application in the region. Asia-Pacific is expected to be the fastest-growing market over the forecast period owing to the growing demand of polymers from the drug delivery and orthopedics applications along with the expanding healthcare industry in the region.
The major industry players include Corbion NV, Evonik Industries AG, Foster Corporation, KLS Martin Group, and Poly-Med, Inc.
In Oct 2015, US FDA (US Food and Drug Administration) approves drug-eluting stent (DES) with Bioabsorbable Polymer
In July 2015, Boston Scientific has launched a fully bioresorbable scaffold technology (FAST) to assess the performance and safety of this next-generation scaffold for the cure of atherosclerotic coronary lesions.
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