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CHEMICALS AND ADVANCED MATERIALS

Bioresorbable Polymers Market Segmentation by Type (Agro-Polymers, Polycaprolactone, Polysaccharides, Proteins, and Others); and by Application (Sutures, Orthopedic Fixation Devices, Dental Implants, Tissue Staples, Drug Delivery Devices, and Others) – Global Demand Analysis & Opportunity Outlook 2029

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • April 30, 2021: Ashland Global Holdings Inc. announced the acquisition of the Schülke & Mayr GmbH, a leader in the field of infection prevention and hygiene solutions for more than 130 years.
  • March 04, 2021: Ashland Global Holdings Inc. announced the completion of expansion of Viatel bioresorbable polymers manufacturing facility to new site in Mullingar, Ireland.

Global Bioresorbable Polymers Market Highlights over 2020-2029

The global bioresorbable polymers market is estimated to garner a considerable CAGR over the forecast period, i.e., 2021–2029. The growth of the market can be attributed to the increasing medical application of bioresorbable polymers, as it is biodegradable. The bioresorbable polymers dissolve inside the body with time, which eliminates the need for a second surgery to remove the transplant. The growing cases of patients with orthopedic and musculoskeletal issues, along with the increasing global geriatric population, is estimated to boost the market growth. Moreover, the features like flexibility, strength, and affordability of these polymers are projected to boost the market growth.

Global-Bioresorbable-Polymers-Market-Overview

The global bioresorbable polymers market is segmented by application into sutures, orthopedic fixation devices, dental implants, tissue staples, drug delivery devices, and others, out of which, the orthopedic fixation devices segment is anticipated to hold a notable share in the market during the forecast period on account of increasing use of these polymers in orthopedic surgeries, as it reduces post-surgery complications, especially in the older population. Additionally, the dental implants segment is estimated to garner significant share during the forecast period owing to the increasing dental ailments, including, tooth decay, caused by consumption of junk foods. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Chemicals-Value-Added-in-Manufacturing

The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry, that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favourable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.

Global Bioresorbable Polymers Market Regional Synopsis

Regionally, the bioresorbable polymers market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to witness noteworthy growth over the forecast period on the back of advanced healthcare system and high personal disposable income. Moreover, consumer friendly reimbursement policies on healthcare expenditure are another major factor estimated to boost the growth of the regional market. The market in the Europe region is anticipated to hold a significant share in the forecast period, owing to the high geriatric population in the region. As per the data by the World Bank, 20.463% of the total population of the European Union is above 65 years of age, as of 2019. The EU includes 27 countries, including France, Belgium, Germany, and Luxemburg among others.

Global-Bioresorbable-Polymers-Market-Share

The global bioresorbable polymers market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global bioresorbable polymers market includes the following segments:

By Type

  • Agro-Polymers
  • Polycaprolactone
  • Polysaccharides
  • Proteins
  • Others

By Application

  • Sutures
  • Orthopedic Fixation Devices
  • Dental Implants
  • Tissue Staples
  • Drug Delivery Devices
  • Others

Growth Drivers

  • Growing Application of the Polymers in Healthcare Sector
  • Increasing Geriatric Population

Challenges

  • Lack of Advanced Healthcare Sector in Developing Nations

Top Featured Companies Dominating the Market

  • Evonik Industries AG
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Corbion NV
  • Ashland Global Holdings Inc.
  • Foster Corporation
  • Zeus Industrial Products, Inc.
  • Merck Group
  • Gebrüder Martin GmbH & Co. KG
  • Polymedicure Ltd.
  • Biogeneral, Inc.
  • Koninklijke DSM N.V.

 

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