Bioresorbable (Resorbable) Polymers Market worth USD 1,407.5 M USD by 2021

Friday 3 June 2016, Amsterdam

The report, now available on ASDReports, "Bioresorbable (Resorbable) Polymers Market by Type (Agro-Polymers - Proteins and Polysaccharides and Biopolyesters – Polyglycolic Acid, Polylactic Acid, and Polycaprolactone), Application (Orthopedics, and Drug Deliver), and Region - Global Trends & Forecasts to 2021", The global market size of bioresorbable polymers was USD 661.9 Million in 2015 and is projected to reach USD 1,407.5 Million by 2021, at a CAGR of 13.42% between 2016 and 2021. The cost-effectiveness and patient-friendliness of bioresorbable polymers and rapidly increasing demand from existing applications are expected to drive the market.

Biopolyesters captures the largest share of the bioresorbable polymers market

The bioresorbable polymers market is segmented based on types, namely, agro-polymers and biopolyesters. In 2015, biopolyesters captured the maximum share of the overall market and is expected to witness high growth rate during the forecast period. The demand of biopolyesters is increasing because of its enhanced quality and better resistance to weather that make it suitable for use in various applications in the medical sector.

Growing demand from drug delivery applications to boost bioresorbable polymers market

The bioresorbable polymers market is also segmented based on applications. The major applications of the bioresorbable polymers market are orthopedics, drug delivery, and others. Orthopedics is the leading application of the bioresorbable polymers market due to its high demand in the knee and trauma sub-applications.

North America is the largest bioresorbable polymers market

The bioresorbable polymers market is broadly segmented into six regions, namely, North America, Western Europe, Central Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is the largest bioresorbable polymers market, closely followed by Western Europe, in terms of value. The rising demand from applications such as drug delivery and orthopedics in this region is driving the bioresorbable polymers market.

Currently, various market players such as Corbion N.V. (Netherlands), Evonik Industries AG (Germany), Foster Corporation (U.S.), KLS Martin (Germany), and Poly-Med Inc. (U.S.) dominate the global bioresorbable polymers market.