Exploring Key Insights of the Bioresorbable Medical Material Market: Growth Prospects, Emerging Trends, and Opportunities
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What key factors are powering the surge in the bioresorbable medical material market right now?
In recent years, the market size for bioresorbable medical materials has seen swift expansion. Forecasted growth suggests it will rise from $1.56 billion in 2024 to $1.72 billion in 2025, with a compound annual growth rate (CAGR) of 10.1%. Factors contributing to this historic growth include the shortcomings of traditional non-resorbable materials, advancements in polymer science, an increase in cardiovascular interventions, an aging population, and the proliferation of minimally invasive surgeries.
How fast Is the bioresorbable medical material market expected to grow, and what’s its future value?
The market for bioresorbable medical materials is projected to experience a surge in the coming years, ballooning to a market worth of $2.52 billion in 2029, marking a compound annual growth rate (CAGR) of 10.0%. This advancement during the expected period is linked to factors such as the escalating demand for bioresorbable scaffolds and the use of bioresorbable materials in diverse medical applications. The increase in cardiovascular and orthopedic procedures, as well as a heightened focus on patient comfort and recovery, additionally bolsters this growth. The expanded application of these elements in the sphere of tissue engineering also contributes to this trend. During the predicted period, key developments will comprise customizing bioresorbable materials for particular medical applications, assimilating these materials into drug delivery systems, thriving 3D printing in the fabrication of bioresorbable medical devices, and the evolution of combination products that incorporate bioresorbable elements. The trend of focusing on sustainable and eco-friendly medical materials will be noteworthy.
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What are the leading drivers of growth in the bioresorbable medical material market?
The bioresorbable medical material market is projected to expand due to a growing number of surgeries. Surgical procedures, which refer to medical treatments involving an incision and the use of tools to rectify or halt disease in a living organism, utilize bioresorbable polymers. These polymers are used in the manufacturing of medical equipment molds, especially those applied in neurology, orthopedics, and cosmetic surgeries. Instruments like sutures, anchors, and screws can also be made from bioresorbable materials. To illustrate, the International Society of Aesthetic Plastic Surgery (ISAPS), a US-based organization, reported that aesthetic procedures reached nearly 35 million in 2023, in June 2024. This includes both surgical and non-surgical procedures, increasing by 3.4% to 34.9 million. Consequently, the escalation in surgeries is fueling the advancement of the bioresorbable medical material market.
What are the key segments defining the bioresorbable medical material market?
The bioresorbable medical material market covered in this report is segmented –
1) By Type: Polylactic Acid (PLA), Polyglycolic Acid (PGA), Polysaccharides, Polycaprolactone (PCL), Poly Lactic-Co-Glycolic Acid (PLGA)
2) By Application: Drug Delivery, Orthopedics, Other Applications
3) By End-User: Hospitals And Clinics, Ambulatory Surgical Centers, Research Institutes, Other End-Users
Subsegments:
1) By Polylactic Acid (PLA): Low Molecular Weight PLA, High Molecular Weight PLA, PLA Blends
2) By Polyglycolic Acid (PGA): Homopolymer PGA, Copolymer PGA
3) By Polysaccharides: Chitosan, Alginate, Hyaluronic Acid Derivatives
4) By Polycaprolactone (PCL): Standard PCL, PCL Copolymers
5) By Poly Lactic-Co-Glycolic Acid (PLGA): 50:50 PLGA, 75:25 PLGA, Other PLGA Ratios
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Who are the key players steering the development of the bioresorbable medical material market?
Major companies operating in the bioresorbable medical material market include Johnson & Johnson, Abbott Laboratories, Medtronic PLC, Kureha Corporation, Evonik Industries AG, Stryker Corporation, Toray Industries Inc., Mitsui Chemicals Inc., Arkema S.A., Royal DSM N.V., Zimmer Biomet Holdings Inc., Ashland Global Holdings Inc., Corbion N.V., Zeus Industrial Products Inc., Unitika Ltd., Danimer Scientific, Synbra Technology, KLS Martin Group, Durect Corporation, Putnam Plastics Corporation, Zhejiang Haizheng Biomaterials Co. Ltd., NatureWorks LLC, Foster Corporation, Poly-Med Inc., Futerro S.A., TotalEnergies Corbion B.V.
What emerging trends are influencing the growth of the bioresorbable medical material market?
One key trend gaining traction in the bioresorbable medical material market is the development of new biomaterials. Many companies within this market are honing their focus on the creation of these materials for use in 3D printing applications in order to maintain their competitive edge. For example, in September 2023, Zeus, a South Carolina-based firm acclaimed for its cutting-edge polymer solutions used in multiple industries such as medical, aerospace, energy, automotive, and fiber optics, introduced its next-gen tubing for bioresorbable vascular scaffolds, branded as AbsorvTM XSE. The function of this product is to enhance the efficiency of medical devices, especially in the vascular treatment sector. Viewed as a substantial leap in the crafting of bioresorbable medical devices, AbsorvTM XSE could potentially better patient results and broaden the spectrum of treatment choices. This inventive product offers extensive personalization through a wide selection of polymer choices and expanded sizes, which helps in aligning absorption qualities and mechanical properties. The product also ensures consistent production due to its superior wall thickness uniformity and provides approximately 25% more usable scaffolds after laser cutting than its predecessors.
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Which regions are most influential in expanding the bioresorbable medical material market?
North America was the largest region in the bioresorbable medical material market in 2024. Asia-Pacific is expected to be the fastest-growing region in the bioresorbable medical material market report during the forecast period. The regions covered in the bioresorbable medical material market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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