Bioresorbable Polymers Market to Record a 13.42% through 2021, Says M&M in Its In-demand Report Published at MarketPublishers.com08 Jun 2016 • by Natalie Aster
LONDON – The value of the worldwide bioresorbable polymers market is projected to amount to around USD 1.407 billion by 2021, recording a projected CAGR of 13.42%. The market is being mainly driven by the rapidly increasing demand from today’s major current applications such as orthopedics and drug delivery. Furthermore, the cost-effectiveness and patient-friendliness of bioresorbable polymers are also acting as key demand drivers.
As of 2015, biopolyesters grabbed the lion’s share of the total market and will likely see accelerated growth in the oncoming years. The demand for biopolyesters is on the rise due to their improved quality and enhanced weather resistance that make them suitable for usage in versatile applications in the medical universe.
Application-wise, drug delivery is poised to post the highest growth over the period 2016-2021, as patients are not willing to be given injections and follow other procedures on a regular basis. Hence, bioabsorbable polymers are used to control drug release through the matrix that is implanted into patients’ body. This gives consumers encouragement to pay more for the higher-quality products that are not required to be surgically removed, as they are absorbed into the body once they perform their function.
Geography-wise, APAC is poised show the fastest growth tempo in terms of value and volume alike. The accelerated demand for bioresorbable polymers from the drug delivery and orthopedics applications in tandem with the rise of the healthcare industry will likely propel the demand for bioresorbable polymers.
Evonik Industries AG, Corbion N.V., KLS Martin, Foster Corporation, and Poly-Med Inc. are the leading players in the marketplace.
In-demand research report “Bioresorbable (Resorbable) Polymers Market” drawn up by M&M provides an all-encompassing assessment of the market on a global level, categorising it on the basis of type, application area, and geographic region. The report provides a unbiased analysis and projections of the market size of the overall market and each of its individual segments. It sheds light on the market drivers, hindrances, and opportunities; examines the major segments’ growth trends and prospects as well as their contribution to the overall market; identifies and analyses the opportunities for key players. Furthermore, the competitive developments are discussed, and profiles of key players are provided including a comprehensive analysis of their core competencies.
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