DUBLIN, June 5, 2020 /PRNewswire/ — The “Bioresorbable Medical Material Market to 2027 – Global Analysis and Forecasts by Product Type; Application, and Geography” report has been added to ResearchAndMarkets.com’s offering.
The bioresorbable medical material market was valued at US$ 935.99 million in 2019 and is expected to grow at a CAGR of 9.7% from 2020 to 2027 to reach US$ 1,942.13 million by 2027.
Driving factors of the bioresorbable medical material are the rising adoption of bioresorbable polymers for medical use and an increasing number of orthopedic surgeries. However, factor like challenges associated with the use of bioresorbable materials for medical use is likely to have a negative impact on the growth of the market in the coming years.
The rise in the aging population is consequently leading to an increase in the total number of orthopedic procedures performed worldwide. In addition, the significant advancements in the field of orthopedic science have also helped in the conduction of better and efficient surgical procedures leading to their increasing adoption. The uses of biodegradable polymers that are used to produce bioresorbable implants have also witnessed a rise in their adoption.
According to a report by Becker’s Hospital, the total number of orthopedic surgeries performed in the US is expected to reach 6.6 million in 2020 as compared to 5.3 performed in 2010. Moreover, according to the American Society of Orthopedic Surgeons (AAOS), a full-time practicing orthopedic surgeon performs approximately 32 surgeries each month, which averages to more than one surgery performed per day. Therefore, increasing orthopedic surgeries coupled with the benefits of bioresorbable medical material to treat the musculoskeletal diseases and orthopedic injuries is likely to boost the demand for bioresorbable medical material during the forecast period.
The global bioresorbable medical material market is segmented by product type and application. The bioresorbable medical material market, by product type is segmented into Polylactide (PLA), Poly-L-lactide (PLLA), Poly-DL-lactide (PDLLA), Polyglycolide (PGA), Copolymers of PLA and PGA (PGLA). The Polylactide (PLA), the segment held the largest share of the market in 2019. The segment is also anticipated to register the highest CAGR in the market during the forecast period. Based on application, the bioresorbable medical material market is segmented into drug delivery, medical devices, orthopedics, other. The drug delivery held the largest share of the market in 2019 and is expected to register the fastest growth.
Some of the essential primary and secondary sources included in the report are, Food and Drug Administration, World Health Organization (WHO), Organization for Economic Co-operation and Development, National Cancer Foundation, and among others.
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the bioresorbable medical material market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global bioresorbable medical material market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
Key Topics Covered:
1. Introduction
2. Bioresorbable Medical Material Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Bioresorbable Medical Material – Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia Pacific
4.2.4 Middle East & Africa
4.2.5 South and Central America
4.3 Expert Opinion
5. Bioresorbable Medical Material – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing number of orthopedic surgeries
5.1.2 Growing geriatric population
5.1.3 Rising adoption of bioresorbable polymers for medical use
5.2 Market Restraints
5.2.1 Challenges associated with the use of bioresorbable materials for medical use
5.2.2 Bassinet on the global business due to Coronavirus pandemic
5.3 Market Opportunities
5.3.1 Development of bioresorbable drug delivery systems during coronavirus outbreak
5.3.2 Diversification in medical applications of bioresorbable materials by start-ups and established players
5.4 Future Trends
5.4.1 Consistent launch of new products
5.5 Impact Analysis
6. Bioresorbable Medical Material Market – Global Analysis
6.1 Global Bioresorbable Medical Material Market Revenue Forecast and Analysis
6.2 Global Bioresorbable Medical Material Market, By Geography – Forecast and Analysis
6.3 Market Positioning of Key Players
7. Bioresorbable Medical Material Market Analysis – By Product Type
7.1 Overview
7.2 Bioresorbable Medical Material Market Revenue Share, by Product Type (2019 and 2027)
7.3 Polylactide (PLA)
7.3.1 Overview
7.3.2 Polylactide (PLA): Bioresorbable Medical Material Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Poly-L-lactide (PLLA)
7.4.1 Overview
7.4.2 Poly-L-lactide (PLLA): Bioresorbable Medical Material Market – Revenue and Forecast to 2027 (US$ Million)
7.5 Poly-DL-lactide (PDLLA)
7.5.1 Overview
7.5.2 Poly-DL-lactide (PDLLA): Bioresorbable Medical Material Market – Revenue and Forecast to 2027 (US$ Million)
7.6 Polyglycolide (PGA)
7.6.1 Overview
7.6.2 Polyglycolide (PGA): Bioresorbable Medical Material Market – Revenue and Forecast to 2027 (US$ Million)
7.7 Polycaprolactone (PCL)
7.7.1 Overview
7.7.2 Polycaprolactone (PCL): Bioresorbable Medical Material Market – Revenue and Forecast to 2027 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others: Bioresorbable Medical Material Market – Revenue and Forecast to 2027 (US$ Million)
8. Bioresorbable Medical Material Market – By Application
8.1 Overview
8.2 Bioresorbable Medical Material Market, by Application, 2019 and 2027 (%)
8.3 Drug Delivery
8.3.1 Overview
8.3.2 Drug Delivery: Bioresorbable Medical Material Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Medical Devices
8.4.1 Overview
8.4.2 Medical Devices: Bioresorbable Medical Material Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Orthopedics
8.5.1 Overview
8.5.2 Orthopedics: Bioresorbable Medical Material Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Bioresorbable Medical Material Market – Revenue and Forecast to 2027 (US$ Million)
9. Bioresorbable Medical Material Market – Geographic Analysis
9.1 North America: Bioresorbable Medical Material Market
9.2 Europe: Bioresorbable Medical Material Market
9.3 Asia Pacific: Bioresorbable Medical Material Market
9.4 Middle East & Africa: Bioresorbable Medical Material Market
9.5 South and Central America: Bioresorbable Medical Material Market
10. Bioresorbable Medical Material Market- Industry Landscape
10.1 Overview
10.1.1 Recent Developments by Players in Bioresorbable Medical Material Market
11. Bioresorbable Medical Material Market – Key Company Profiles
11.1 Evonik
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Foster Corporation
11.3 Poly-Med Incorporated
11.4 Zeus Industrial Products, Inc.
11.5 Ashland
11.6 Durect Corporation
11.7 Groupe PCAS
11.8 DSM
11.9 Corbion
11.10 Putnam Plastics
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