Bioresorbable Medical Material Market Size to Achieve USD 1.2 billion by 2033, Fueled by a CAGR of 10.6%: Says AMR

Bioresorbable Medical Material Market to Reach $1.2 Billion, Globally, by 2033 at 10.6% CAGR: Allied Market Research

PORTLAND, OR, UNITED STATES, November 20, 2024 /EINPresswire.com/ -- The bioresorbable medical material market is driven by the increasing demand for minimally invasive surgeries and advancements in material science. Additionally, the rising prevalence of chronic diseases and the need for effective, temporary implants contribute to market growth.

Allied Market Research published a report, titled, "Bioresorbable Medical Material Market by Product Type (Polylactide, Poly-L-lactide, Poly-DL-lactide, Polyglycolide, Polycaprolactone and Others), and Application (Drug Delivery, Medical Devices, Orthopedics, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the bioresorbable medical material market was valued at $0.4 billion in 2023 and is estimated to reach $1.2 billion by 2033, growing at a CAGR of 10.6% from 2024 to 2033.

𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐆𝐫𝐚𝐩𝐡𝐬 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/request-sample/A324381

𝐏𝐫𝐢𝐦𝐞 𝐝𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐠𝐫𝐨𝐰𝐭𝐡

The bioresorbable medical material market is driven by several key factors. Growing demand for minimally invasive surgical procedures and advances in biomaterials technology are pushing the market forward. Increased emphasis on patient safety and the reduction of long-term complications also contribute to market growth. Additionally, the rising prevalence of chronic diseases and an aging population boost the need for effective, temporary medical devices and implants. Furthermore, continuous research and development efforts in bioresorbable materials and increasing healthcare expenditures support market expansion.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

The versatility and cost-effectivenes of polylactide (PLA)

Polylactide (PLA) has favorable properties and wide range of applications. PLA offers excellent biocompatibility, biodegradability, and processability, making it a preferred choice for various medical devices and implants. Its ability to be easily molded into different shapes and its favorable mechanical strength contribute to its popularity. Additionally, PLA's production is relatively cost-effective, and it has a well-established supply chain, further enhancing its dominance in the market. The extensive use of PLA in applications such as sutures, drug delivery systems, and tissue engineering drives its leading position in the segment.

The rise in adoption of bioresorbable medical material in orthopedics

Orthopedics is the largest segment in the bioresorbable medical materials market due to the critical need for temporary implants and supports that can be naturally absorbed by the body over time. Bioresorbable materials used in orthopedic applications offer the advantage of eliminating the need for a second surgery to remove implants, reducing overall patient recovery time and healthcare costs. The ability of these materials to provide temporary structural support while gradually integrating with natural bone healing processes makes them highly valuable. Furthermore, ongoing advancements in material science are enhancing the performance of bioresorbable materials in orthopedic applications, driving increased adoption and market growth in this segment.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐎𝐮𝐭𝐥𝐨𝐨𝐤

North America to maintain its dominance by 2033

By region, North America held the largest market share in terms of revenue in 2023 and is expected to dominate the market during the forecast period. This is attributed to advanced healthcare infrastructure, high healthcare expenditures, and a robust research and development environment. Additionally, North America has a well-established regulatory framework that supports the development and commercialization of innovative medical materials. The presence of leading market players and ongoing investments in medical technology further contribute to North America's dominance in the bioresorbable medical materials market.

𝐓𝐨𝐩 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: -

• Medtronic
• Stryker Corporation
• Johnson & Johnson
• Boston Scientific
• Smith & Nephew
• Zimmer Biomet
• B. Braun Melsungen AG
• KLS Martin Group
• Dare Bioscience
• Amedica Corporation

The report provides a detailed analysis of these key players in the global bioresorbable medical material market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐑𝐞𝐜𝐞𝐧𝐭 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:

• In September 2023, Zeus, a leading global provider of advanced polymer solutions, created the newest bioabsorbable product, Absorv XSE-oriented tubing. As an alternative to metallic items that are permanently implanted in the human body, Absorv XSE offers a highly customizable platform and is available in a number of resins and enlarged size ranges.
• In July 2021, Becton, Dickinson and Company, a leading global medical technology company, acquired Tepha, Inc., a leading developer and manufacturer of proprietary resorbable polymer technology.
• In August 2021, Evonik has acquired German biotech company JeNaCell. The acquisition expands Evonik’s biomaterials portfolio to provide biotechnologically derived cellulose. The nature-identical material developed by JeNaCell is used in medical technology and dermatology for the treatment of wounds and burns as well as in hydroactive skin care.
• Collagen Matrix, Inc., a global leader in regenerative medicine and a Linden Capital Partners portfolio company, acquired Polyganics, B.V. Polyganics is a medical technology company that develops and manufactures bioresorbable medical devices. The acquisition expands Collagen Matrix's portfolio of bioresorbable solutions and technology platforms for bone and tissue repair, unlocking new markets and clinical opportunities for the Company.

𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/purchase-enquiry/A324381

Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

By Region Outlook

• North America
(U.S., Canada, Mexico)
• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
• LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

Contact Details:

David Correa
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help@alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Allied Market Research
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