The major growth drivers identified in the bioresorbable polymers market are the increasing penetration of healthcare facilities and growing population in the developing world. With high spending on medical services in US and Western Europe, the demand for safe healthcare solutions will continue to rise. Bioresorbable materials are used in extensive varieties of medical applications including coronary and fringe vascular frameworks, tissue obsession screws, bone pins and grapples, and medicate conveyance.
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On the basis of type, the bioresorbable polymers market is categorized into agro-polymers and biopolymers. Agro-polymers are further classified into polysaccharides and proteins, whereas biopolyesters are further classified into polylactic acid, polyglycolic acid, polycaprolactone, and others. Based on application, the bioresorbable polymers market is categorized into orthopedics, drug delivery, and others.
The major restraint identified in the bioresorbable polymers market are high price of bioresorbable polymers and lack of quality control measures in developing countries. Owing to this, a large number of patients avoid using this technology thus limiting the growth prospects of the market.
Asia-Pacific is expected to witness highest growth in the bioresorbable polymers market owing to its rising usage in orthopedics and drug delivery applications. Also, fast growing medical industry in countries such as China, India, and South Korea is expected to prove necessary thrust to the bioresorbable polymers market.
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Some of the major players operating in the global bioresorbable polymers market are Corbion NV, Evonik Industries AG, Foster Corporation, KLS martin Group, and Poly-Med Inc.
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