The global bioresorbable polymers market is set to gain momentum from their increasing usage in a wide range of bio-medical applications, such as nanomedicines, orthopedics, tissue engineering, and drug-delivery. This information is given in an upcoming report by Fortune Business Insights™, titled, “Bioresorbable Polymers Market Size, Share & Industry Analysis, By Product (Polylactic Acid (PLA), Polyglycolic Acid (PGA), Polucaprolactone, Polysaccharides, Proteins, Others), By Application (Drug Delivery, Orthopedics, Others) and Regional Forecast, 2022-2029.” The report further mentions that bioresorbable polymers do not require any mechanical removal process. They can easily be absorbed by the human body.
The outbreak of the COVID-19 pandemic has brought the entire world to a complete standstill. Various companies are facing huge financial losses on account of the rising disruptions in supply chains and halt in manufacturing processes. Many hospitals have run out of beds for coronavirus positive patients. Unless a vaccine is invented, nobody knows till when this grave situation will persist. Our research reports provide elaborate analysis of every factor that may affect the market positively and negatively. We have also covered a few strategies for business growth and competition.
What are the market drivers, dynamics, and hindrances?
Which region is set to lead the market in the coming years?
Which segment is likely to dominate the market by the end of 2026?
How will the companies surge sales of bioresorbable polymers amid the pandemic?
Drivers & Restraints-
Increasing Disposable Incomes of People to Accelerate Growth
The increasing awareness amongst patients worldwide about the biodegradability of bioresorbable polymers is set to affect growth positively. Apart from that, the surging disposable incomes of people, especially in the developing countries would aid growth. The governments of several countries are persistently investing in developing their healthcare infrastructures. Also, the improving procedures for treatment, as well as the ongoing technological advancements are likely to create growth opportunities for the market. However, the expensive nature of these products may hamper the bioresorbable polymers market growth in the near future.
North America to Remain at the Forefront Fueled by Rising Research & Development Activities
Geographically, North America is presently in the leading position in terms of bioresorbable polymers market share. This growth is attributable to the rising number of research & development activities by numerous organizations and increasing technological advancements in this region. Asia Pacific, on the other hand, is anticipated to be the fastest growing region throughout the forthcoming years because of the high demand for drug-delivery systems and orthopedics. Additionally, the rising population in China and India would eventually boost the enhancement of healthcare services. But, the lack of innovative medical technologies is likely to slow down the growth in Latin America and Middle East & Africa.
Key Players Aim to Introduce Novel Bioresorbable Polymers to Enhance Portfolios
The market for bioresorbable polymers is highly fragmented. The companies present in the market are conducting extensive research activities for improving their existing product portfolios. Below are two latest industry developments:
February 2020: Evonik recently created Resomer, its free flowing powdered bioresorbable polymer. It includes ultra-low metal content and is sterile. It is specially developed for 3D printing of implantable medical devices. This new launch would help Evonik to refine its product portfolio.
November 2019: Viatel bioresorbable polymer was unveiled by Ashland to add a new range of products in its offerings. This is meant for drug delivery.
Fortune Business Insights™ lists out the names of all the prominent bioresorbable polymers manufacturers operating in the global market. They are as follows:
Poly Med Inc.
KLS Martin Group
Other key market players
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