MarketResearchNest.com adds “Global Bioresorbable Polymers Market 2017-2021” new reports to its research database. The report spread across 90 pages with tables and figures in it.
The research analysts forecast the global bioresorbable polymers market to grow at a CAGR of 13.71% during the period 2017-2021.
Bioresorbable polymers are a category of biopolymers, which are biodegradable polymers that are produced naturally or synthetically. Biopolymers are renewable, sustainable, biodegradable, non-toxic, non-immunogenic, non-thrombogenic, and non-carcinogenic. The Key application segments for the biopolymers are coatings, plastics, oil industry, biomedical, pharmaceutical, and automotive.
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Technavio recognizes the following companies as the key players in the global bioresorbable polymers market: Corbion, Evonik Industries, Foster Corporation, KLS Martin and Poly-Med.
Other Prominent Vendors in the market are: Sigma-Aldrich, Mar-Lee Companies, LACTEL Absorbable Polymers, DSM, PCAS, Galatea Surgical, Edge Design Services, Degradable Solutions, Amplitude Systèmes, and MAST Biosurgery.
The latest trend gaining momentum in the market is Growing medical tourism. Medical device innovators of the developed region are venturing into offshore sites to establish bioresorbable polymers industries. Many medical device innovation centers are operational in the US. They are focusing on clinical data, new product registration, and the initial streams of revenue, which is significant for the bioresorbable polymers market in the US to play a leading role in the industry.
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According to the report, one of the major drivers for this market is Increasing ageing demographic. Ageing demographic plays an important part in fostering the growth of medical devices. For instance, both developed and developing countries around the world are taking several steps to increase their healthcare budgets. In addition, several countries are investing in healthcare programs to cater to the aged population. The age-related conditions include hearing problems, mobility issues, orthopedic, cardiovascular, neurological, and endocrine diseases. In countries such as Japan, Thailand, China, and western Europe, the life expectancy has grown up to 73.5 years. An estimated 11.01% of the total global population will be more than 65 years old in the next 5 years. The aging population growth has driven the growth in the medical device sector as well. Bioresorbable polymers are used in such devices, thereby increasing their demand.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating raw material prices. The raw materials used for lactide, glycolide, and caprolactone production are obtained from synthetic sources. These raw materials such as styrene, benzene, xylene, dioxane, are synthetically acquired from the oil and gas industry. The fluctuations in the cost of crude oil significantly impact the prices of the raw materials used for manufacturing bioresorbable polymers. Subsequently, the cost of bioresorbable polymers also fluctuates.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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