Corbion N.V, Evonik Industries Ag, Kls Martin Group, Poly-Med and Foster Corporation are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Bioresorbable Polymers Market.
Bioresorbable Polymers Market – Overview
Bioresorbable Polymers are gaining a huge traction over the past decade, owing to its augmented use in the Controlled drug delivery matrix.
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Consecutively, the global Bioresorbable Polymers Market is exponentially gaining momentum attributed to the burgeoning Healthcare sector. Nowadays, people are inclined towards avoiding surgeries as long as possible and instead prefer controlled drug delivery matrix. Implants made from Bioresorbable Polymers don’t need another operation to take implants out. Bioresorbable Polymers get completely biodegraded in the human body without causing any harm minimizing post-surgery risk to the patient and thus eradicating the need for a second surgery to take off temporary implants.
Accrediting the prominence Bioresorbable Polymers are gaining in the current scenario and projecting the traction its growing market size would gain in the future, the Market Research Future, recently published a brilliant study report according to which the global market of Bioresorbable Polymers is forecasted to demonstrate a momentous growth by 2027, surpassing its previous growth records in terms of value registering a staggering CAGR during the estimated period (2017 – 2027). The Global Bioresorbable Polymers market is forecasted to perceive exponential growth accruals by 2027, registering substantial expansion rate during the period 2017 to 2027.
The Global Bioresorbable Polymers Market is predominantly driven by augmented inclination of patients towards using implants or surgical threads made with Bioresorbable Polymer material. Additionally growing prevalence of chronic diseases and disorders leading to surgeries coupled with growing accident rate worldwide which lead to the need of stiches, surgeries and implants is fostering the market growth up to an extent. Moreover, factors such as worldwide governments’ efforts to upgrade their country’s healthcare sector, along with the rising per capita income of consumers across the globe is providing impetus to the Bioresorbable Polymers market growth. Another major factor that drives the growth is extensive demand for Bioresorbable Polymers for drug delivery owing to their characteristics of being chemically neutral and biodegradable in the human body.
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However, Bioresorbable Polymers material implant cost slightly higher than the traditional Medical Polymer implants is a major barrier to the Bioresorbable Polymers market growth. Also volatile price structure of raw material used in Bioresorbable Polymers production acts as a restraint factor to the market growth. Raw materials, especially, Styrene, Benzene, Xylene, Dioxane, are synthetically acquired from the oil and gas industry. The variations in the cost of crude oil sequentially effect the prices of the raw materials used for manufacturing bioresorbable polymers. On the other hand, trend of Medical Polymer implants manufactures from the US to venture in to the developing regions such as APAC will fuel the Bioresorbable Polymers market growth largely. Another trends that would contribute to the Bioresorbable Polymers market growth include, Biodegradable polymeric microspheres in chemotherapeutic drug delivery, Electro spinning and 3D printing technologies.
3D printing has already been established in the dental area, to produce temporary tooth implants or customised models to train surgeons for complex operations. While these have not yet been produced with biodegradable polymers, there is ongoing evaluation into the development of patient-specific biodegradable implants consisting of PCL (polycaprolactone) and PLGA.
Bioresorbable Polymers Market – Competitive Analysis
The global Market of Bioresorbable Polymers appears to be highly competitive but consolidated. Many large and small key players operating in the market are churning the competition to gain competitive advantage. To sustain their market position these players incorporate acquisition, collaboration, partnership, expansion, and technology launch.
Industry/ Innovation/ Related News
November 2017 – Rutgers University (USA) Received ‘2017 Edison Patent Award’ for Polymer used to develop world’s first fully resorbable, X-Ray visible stent. Dr. Joachim Kohn’s “Biocompatible Polymers for Medical Devices” Invention Received Award from R&D Council of New Jersey in Biomaterials Category.
November 2017 – 480 Biomedical, a clinical-stage life science company, announced a publication in Nature Materials highlighting the novel mechanical properties of the company’s fully bioresorbable polymeric implant technology. Nature Materials, the 480 Biomedical implant has been demonstrated to possess resistive strength similar to metal, while maintaining flexibility and ultimately fully resorbing. This unique combination of attributes is achieved by combining a PLGA base structure with a proprietary bioresorbable elastomer that is cross-linked via an innovative processing method. The elastomer is resistant to stress relaxation, allowing the implant to continually “spring-back”, thereby preventing migration or dislodgement after placement within the body.
November 2017 – Xeltis, which is working on polymer-based heart valve replacement, raised a €45 million ($52 million) investment in an oversubscribed series C round. Xeltis’ bioresorbable, polymer-based technology is designed to allow for the natural restoration of heart valve function via endogenous tissue restoration (ETR). After Xeltis’ valve is implanted, the body develops tissue inside and around the device, forming a natural and fully functional valve within it, the company says. As the new valve heals, the implant is gradually absorbed into the body. The funds will bankroll the continuation of clinical activities, as well as ramp up product and market development for Xeltis’ aortic and pulmonary valve programs, according to a statement. It was the largest investment round for a private medical device company in Europe so far this year.
Bioresorbable Polymers Market – Segments
Global Bioresorbable Polymers Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Types : Comprises – Polysaccharides, Proteins, Polylactic Acid, Polyglycolic Acid and Polycaprolactone.
Segmentation By Application: Comprises – Drug Delivery and Orthopedics.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Bioresorbable Polymers Market -Regional Analysis
Asia pacific is the fastest growing market for Bioresorbable polymers with the largest market share, accounting for astronomical amounts and is expected to grow further over by 2027, North-America dominated the market for Bioresorbable Polymers and are expected to grow at a substantial CAGR during 2016 to 2027.
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