Bioresorbable Polymers Market - By Polymer Type (Polylactic Acid (PLA), Polyglycolic Acid (PGA), Polycaprolactone (PCL), Polyhydroxyalkanoates (PHA)) By Application (Medical Devices, Pharmaceuticals, Packaging, Tissue Engineering, Agriculture) & Forecast, 2024 – 2032

Bioresorbable Polymers Market Size

Bioresorbable Polymers Market size was valued at USD 1.4 billion in 2023 and is anticipated to grow a CAGR of over 14.7% between 2024 and 2032.
 

Polylactic Acid (PLA), Polyglycolic Acid (PGA), and Polycaprolactone (PCL) are among the key polymer types contributing to market expansion, as they find application in medical devices, pharmaceutical drug delivery systems, and eco-friendly packaging materials.
 

The growth in tissue engineering and agriculture sectors further propels the market, with bioresorbable polymers facilitating tissue regeneration and sustainable agricultural practices. As the global emphasis on biodegradability and eco-friendliness continues to grow, the market is poised for continued expansion and innovation in various industries.
 

COVID-19 Impact

The COVID-19 pandemic had a mixed impact on the bioresorbable polymers market. While the demand for medical and pharmaceutical applications, where bioresorbable polymers are prominently used, surged due to the healthcare crisis, the market experienced disruptions in the supply chain, manufacturing, and distribution networks. Lockdowns and restrictions hindered production and logistics, affecting the availability of these polymers. Additionally, the economic challenges faced by various industries may have limited investment in sustainable and eco-friendly materials. Nonetheless, the growing emphasis on biodegradable and environmentally friendly materials, coupled with healthcare-related demand, is expected to drive the market's recovery and continued growth as the global economy stabilizes.
 

Bioresorbable Polymers Market Trends

There is a growing focus on sustainable and eco-friendly materials, with bioresorbable polymers finding increasing adoption in response to environmental concerns and regulatory support. The medical and pharmaceutical sectors continue to be significant drivers, with bioresorbable polymers playing a crucial role in medical devices and drug delivery systems. Ongoing research and development efforts are leading to the creation of new polymers with enhanced properties, expanding their applications across industries. Collaborations and partnerships between manufacturers, research institutions, and end-users are fostering innovation and accelerating the development of novel bioresorbable polymer products, further fuelling market growth.
 

Bioresorbable Polymers Market Analysis:

Based on polymer type, polylactic acid (PLA) holding a substantial market share around 34.6% in 2022 primarily driven by its biocompatibility and widespread applications. Polyglycolic Acid (PGA) had a significant presence in the medical field, notably in surgical sutures. Polycaprolactone (PCL) was also notable, with applications in medical devices and tissue engineering. Polyhydroxyalkanoates (PHA) had been gaining ground in various industries due to their versatility. The category "Others" represented various bioresorbable polymers with smaller but niche market shares.
 

Based on application, medical devices hold a significant share, of 54% bioresorbable polymers market share in 2022 underpinned by their essential use in sutures, stents, and drug delivery systems. Pharmaceuticals also hold a significant share, leveraging bioresorbable polymers for controlled drug release. The packaging industry has witnessed a notable rise in market share due to eco-friendly packaging solutions, with bioresorbable polymers offering sustainable alternatives. Tissue engineering is another growing segment, with scaffolds for regenerative medicine. Agriculture, while smaller, is experiencing increased adoption of bioresorbable polymers for sustainable practices such as controlled-release fertilizers and biodegradable mulch films.

North America dominated the Bioresorbable Polymers market, accounting for a major share of around 39.4% in 2022 The region's market dominance was attributed to a robust healthcare sector, increased adoption of eco-friendly materials, and rigorous research and development activities. The United States, being a key player in the medical and pharmaceutical industries, contributed significantly to the growth of bioresorbable polymers, especially in medical devices and drug delivery systems.
 

Bioresorbable Polymers Market Share

Major players operating in the Bioresorbable Polymers industry include:

• Corbion N.V.
• Evonik Industries AG
• Poly-Med, Inc.
• Mitsui Chemicals, Inc.
• Foster Corporation
• KLS Martin Group
• Ashland Global Holdings

Some of the major market players operating in the Bioresorbable Polymers industry are Evonik Industries AG, Poly-Med, Inc., Mitsui Chemicals, Inc., Foster Corporation, KLS Martin Group, Ashland Global Holdings, among others. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Bioresorbable Polymers Industry News

• In April 2021, Ashland acquired the specialty chemicals business of Albemarle Corporation for $1.6 billion. The acquisition added several new products to Ashland's portfolio, including specialty solvents, surfactants, and dispersants.
   

The bioresorbable polymers market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) & volume (Kilo Tons) from 2018 to 2032, for the following segments:

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Market, By Polymer type

• Polylactic Acid (PLA)
• Polyglycolic Acid (PGA)
• Polycaprolactone (PCL)
• Polyhydroxyalkanoates (PHA)
• Others

Market, By Application

• Medical Devices
• Pharmaceuticals
• Packaging
• Tissue Engineering
• Agriculture

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Egypt