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Global resorbable (bioresorbable) polymers market stood at $ 1.6 billion in 2018 and is projected to reach $ 2.4 billion by 2024

NEW YORK, July 9, 2019 /PRNewswire/ -- Global Resorbable (Bioresorbable) Polymers Market By Type (Agro-Polymers (Polysaccharides & Proteins), Biopolyesters (Polylactic Acid, Polycaprolactone, Polyglycolic Acid) and Others), By Application, By Region, Competition, Forecast & Opportunities, 2024

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Global Resorbable (Bioresorbable) Polymers Market Overview
Global resorbable (bioresorbable) polymers market stood at $ 1.6 billion in 2018 and is projected to reach $ 2.4 billion by 2024, growing at a CAGR of around 7.5% during the forecast period. Bioresorbable polymers are a ground-breaking technological material that can be broken down by the body and do not require mechanical removal. These materials have applications in a broad range of medical indications, such as coronary & peripheral vascular scaffolds, tissue fixation screws and sutures. Some of the factors fueling global resorbable (bioresorbable) polymers market are patient-friendliness, growing demand in drug delivery application and cost-effectiveness. However, the market is restrained by the lack of quality control in some developing countries and high price of bioresorbable polymers.
Global Resorbable (Bioresorbable) Polymers Market Segmentation
Market has been categorized into type, application and regional distribution.Based on type, the market has been segmented into agro-polymers (Polysaccharides & Proteins) and bio -polyesters (Polylactic Acid, Polycaprolactone, Polyglycolic Acid).

The market is dominated by biopolyesters type segment, owing to high resistance to poor environmental conditions and their enhanced quality. The bio-polyesters segment is also anticipated to emerge as the fastest-growing segment in global bioresorbable polymers market during the forecast period.
Based on application, the market has been segmented into orthopedics, drug delivery and others.Among these application segments, the orthopedics application is expected to lead global bioresorbable polymers market in coming years, closely followed by drug delivery segment.

Notably, the drug delivery application is also expected to witness the highest growth rate during the forecast period, owing to growing number of implant surgeries in North America, Asia-Pacific and Europe.
Global Resorbable (Bioresorbable) Polymers Regional Segmentation
North America is the largest bioresorbable polymers market, in terms of value, globally, closely followed by Europe.Some of the factors propelling the growth of North American market include augmented local manufacturing, high growth of end-use industries and increasing number of domestic companies in various vertical market segments.

Further, North America is anticipated to register fastest growth in global bioresorbable polymers market, on the back of high demand from drug delivery applications and orthopedics.

Competitive Landscape

Some of the leading companies in global resorbable (bioresorbable) polymers market are Corbion, Evonik Industries, Foster Corporation, KLS Martin, Poly-Med, Merck KgA, Mar-Lee Companies, LACTEL Absorbable Polymers, DSM, PCAS, etc.

Years considered for this report:

Historical Years: 2014-2017
Base Year: 2018
Estimated Year: 2019
Forecast Period: 2020-2024

Objective of the Study:

• To analyze and forecast global resorbable (bioresorbable) polymers market size.
• To forecast global resorbable (bioresorbable) polymers market based on type, application and regional distribution.
• To identify drivers and challenges for global resorbable (bioresorbable) polymers market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global resorbable (bioresorbable) polymers market.
• To conduct the pricing analysis for resorbable (bioresorbable) polymers market.
• To identify and analyze the profile of leading players involved in the manufacturing of resorbable (bioresorbable) polymers.
Some of the leading players in global resorbable (bioresorbable) polymers market are Corbion, Evonik Industries, Foster Corporation, KLS Martin, Poly-Med, Sigma-Aldrich, Mar-Lee Companies, LACTEL Absorbable Polymers, DSM, PCAS, etc.

The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of leading manufacturers across the globe.

Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.

Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst analyzed the product offerings, distribution channels and presence of all major players operating in global resorbable (bioresorbable) polymers market.
The analyst calculated global resorbable (bioresorbable) polymers market size using a top-down approach, where data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.

Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.

Key Target Audience:

• Resorbable (Bioresorbable) Polymers manufacturers and suppliers
• Government bodies such as regulating authorities and policymakers
• Organizations, forums and alliances related to resorbable (bioresorbable) polymers
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, partners and end users. The report also provides useful insights about which market segments should be targeted over the coming years in order to strategize investments and capitalize on growth opportunities.

Report Scope:

In this report, global resorbable (bioresorbable) polymers market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, by Type:
o Agro-Polymers
o Biopolyesters
Polylactic Acid
Polyglycolic Acid
• Market, by Application:
o Orthopedics
o Cardiac Implant
o Dental Implant
o Trauma
o Drug Delivery
o Others
• Market, by Region:
o Asia-Pacific
South Korea
o Europe
United Kingdom
o North America
United States
o Rest of the World

Competitive Landscape

Company Profiles: Detailed analysis of the major companies operating in global resorbable (bioresorbable) polymers market.

Available Customizations:

With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.

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