Bioresorbable Polymers Market size was over USD 1.49 billion in 2023 and is set to exceed USD 7.82 billion by the end of 2036, witnessing over 13.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of bioresorbable polymers is evaluated at USD 1.65 billion.
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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024–2036 |
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CAGR |
13.6% |
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Base Year Market Size (2023) |
USD 1.49 billion |
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Forecast Year Market Size (2036) |
USD 7.82 billion |
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Regional Scope |
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The 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.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Application |
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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 industry is estimated to hold largest revenue share by 2036, 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.
Author Credits: Rajrani Baghel
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