Bioresorbable Medical Material Market Is Expected To Reach Revenue Of USD 1,139.5 Mn By 2033, At 11.0% CAGR: Dimension Market Research.

(MENAFN- GlobeNewsWire - Nasdaq) Advancements and Projections in the Global Bioresorbable Medical Material Market: Insights, Trends, Opportunities, and Recent Developments

New York, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Overview

The Global Bioresorbable Medical Material Market is projected to reach USD 445.3 million in 2024 which is further anticipated to reach USD 1,139.5 million by 2033 at a CAGR of 11.0% .

The global bioresorbable medical material market grows rapidly within the bioeconomy, impelled by that for a material that degrades safely in the body and supports natural healing without further surgeries. PLA and PGA are popularly used in drug delivery and implants as they possess excellent biocompatibility with lesser complication risks.

Market growth, mainly due to orthopedic and wound care cases, is contributed by the increase in the elderly population and development in the field of tissue engineering. Rapid improvement in healthcare and medical tourism, and opening wide applications for broad growth opportunities in the Asia Pacific region for this market.

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The US Bioresorbable Medical Material Market

The US Bioresorbable Medical Material Market with an estimated value of USD 145.7 million in 2024 is projected to increase at a compound annual growth rate of 10.3% until reaching USD 352.8 million by 2033.

Continuous innovation in medical technology and the growing demand for minimally invasive procedures raise the bar for unstoppable growth in the U.S. bioresorbable medical material market.

Bioresorbable materials are used in orthopedic implants, leveraging a safer alternative to bone regeneration and reducing follow-up surgeries. They also bring great advantages to an aging population. In addition, drug delivery systems made from bioresorbable materials support precise treatment and localized, gradual resorption, especially in cancer and cardiovascular care.

In addition, government funding, along with escalating R&D investments in bioresorbable polymers such as PLA and PGA, drives the market. These factors give the United States a strong lead in the global growth of the market for bioresorbable medical materials.

Important Insights

• Global Market Value: The Global Bioresorbable Medical Material Market is valued at USD 445.3 million in 2024, projected to reach USD 1,139.5 million by 2033.
• The U.S. Market Value: The U.S. Bioresorbable Medical Material Market, valued at USD 145.7 million in 2024, is set to grow to USD 352.8 million by 2033 at a CAGR of 10.3% .
• Regional Analysis: North America is anticipated to lead the Global Bioresorbable Medical Material Market with a 38.9% share in 2024.
• Key Players : Leading companies in the Global Bioresorbable Medical Material Market include Evonik Industries AG, Corbion N.V., DSM Biomedical, Ashland Global Holdings Inc., and Foster Corporation.
• Global Growth Rate: The market is expanding at an 11.0% CAGR over the forecast period.

Latest Trends

• Increased Adoption of Bioresorbable Implants: The fact that health professionals increasingly prefer them due to the reduced need for removal surgeries helps the bioresorbable implant to enjoy their comparative advantage against others. Health experts in advanced regions, such as North America and Europe, show high usage rates of bioresorbable implants, especially in orthopedics and cardiovascular surgery.
• Advancements in Drug Delivery Systems: PLA and PGA are biodegradable polymers, allowing the regulated and site-specific delivery for first-order pharmacokinetics and subsequent treatments associated with oncology and cardiology, respectively. Since research can attain enhancements in the fining of polymers towards specific degradation timelines and targeted applications, demand rises.

Bioresorbable Medical Material Market: Competitive Landscape

• Bioresorbable is considered a very competitive medical material market dominated by key players like Medtronic, Johnson & Johnson, and Stryker. The companies invest extensively in research to develop improved bioresorbable polymers and also to extend their product portfolio for better patient outcomes.
• Strategic collaborations and acquisitions drive their market positioning, hence fostering the partnership with research institutions to accelerate next-gen material development for orthopedic and drug delivery applications.
• Emerging competitors from the Asia Pacific and other regions have competitive pricing and also focus on niche applications. Therefore, such factors ensure competition at an increased rate. Companies operating in this dynamic market are eyeing innovation and geographic expansion as the two main levers for capturing growth opportunities.

Some of the prominent market players:

• Evonik Industries AG
• Corbion N.V.
• DSM Biomedical
• Ashland Global Holdings Inc.
• Foster Corporation
• Poly-Med Inc.
• KLS Martin Group
• Lactel Absorbable Polymers (Direct Corporation)
• Helios Medical Materials
• Putnam Plastics Corporation
• Abbott Laboratories
• Zimmer Biomet Holdings, Inc.
• Other Key Players

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Bioresorbable Medical Material Market Scope

Report Highlights	Details
Market Size (2024)	USD 445.3 Mn
Forecast Value (2033)	USD 1,139.5 Mn
CAGR (2024-2033)	11.0%
North America Revenue Share (2024)	38.9%
Asia Pacific Revenue Share (2024)	43.2%
Historical Data	2018 - 2023
Forecast Data	2024 - 2033
Base Year	2023
Estimate Year	2024
Segments Covered	By Product Type, By Application
Regional Coverage	North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)

Market Analysis

It is expected that PLA will dominate the bioresorbable medical material market by about 24.1% by the end of 2024 due to factors such as its biocompatibility, biodegradability, and ready utilization in a wide range of medical applications. PLA, an eco-friendly polymer since it naturally originated, degrades into products such as lactic acid, later metabolized by the human body and allowing safe implantation.

Its excellent structural strength and well-controlled degradation rate, therefore, make PLA clinically ideal in orthopedic applications for bone fixation and sutures that ensure stability during healing and then are fully resorbed after some time.

Its wide application in controlled drug delivery systems extends into treatments of oncological and cardiovascular diseases, further strengthening the position of PLA in the market with continuous studies and improvements in material properties.

Bioresorbable Medical Material Market Segmentation

By Product Type

• Polylactic Acid (PLA)
• Polyglycolic Acid (PGA)
• Polycaprolactone (PCL)
• Polydioxanone (PDO)
• Polyhydroxyalkanoates (PHA)
• Polyurethane (PU)
• Others

By Application

• Orthopedic Devices
• Drug Delivery
• Tissue Engineering
• Cardiovascular Devices
• Wound Management
• Other Application

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Growth Drivers

• Rising Aging Population: With an aging population, the demand for such bioresorbable materials increases, since permanent implants avoid complications and minimize the subsequent follow-up surgeries, especially in treatments involving osteoporosis and cardiovascular disease.
• Innovations in Tissue Engineering and Orthopedic Applications: Basic research on bioresorbable polymers for applications related to tissue engineering and orthopedics advances the market by increasing their applications for complicated procedures, such as the repair of bones, in which bioresorbables replace traditional permanent implants.

Restraints

• High Costs of Bioresorbable Materials: High processing costs for the biomaterials include quality control costs, making the resultant polymers unaffordable, especially in cost-sensitive markets. This or otherwise limits the rate at which growth within emerging regions experiencing tight budgets in healthcare will adopt it.
• Regulatory Challenges and Approval Delays: The time-consuming approval from regulatory bodies like the FDA and EMA postpones their arrival in the market, hence the price expensiveness of bioresorbable products discouraging the smaller players. These factors decelerate dynamics in the market along with innovation cycles.

Growth Opportunities

• Expansion in Emerging Markets: Markets in China, India, and Southeast Asia have growing healthcare infrastructure with increasing expenditure, therefore giving immense growth opportunities for bioresorbable materials, which are also facilitated by medical tourism within the region.
• Development of Advanced Bioresorbable Polymers: Further development of new bi-resorbable polymers with controllable degradation and better biocompatibility will open wide fields in wound care, cardiovascular interventions, and tissue engineering, thus increasing adoption in specialized fields.

Regional Analysis

The region of Asia Pacific is expected to lead the global bioresorbable medical material market, with a share of over 43.2% , in 2024. This sector has a growth prospect with continuous progress in healthcare infrastructure, a rise in healthcare expenditure, and major investments in medical technology.

This market is also motivated by the growing demand for minimally intrusive procedures. With proactive health systems, key markets such as China, India, and Japan are supportive of bioresorbable material usage. Other factors that add to this demand include the rise in chronic diseases, aged populations, and a preference for reducing follow-up surgeries.

The growing medical tourism in countries such as India, Thailand, and Malaysia invites patients from all over the world, boosting the introduction of advanced technology in bioresorbables.

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By Region

North America

• The U.S.
• Canada

Europe

• Germany
• The U.K.
• France
• Italy
• Russia
• Spain
• Benelux
• Nordic
• Rest of Europe

Asia-Pacific

• China
• Japan
• South Korea
• India
• ANZ
• ASEAN
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Argentina
• Colombia
• Rest of Latin America

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa
• Israel
• Egypt
• Rest of MEA

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Recent Developments in the Bioresorbable Medical Material Market

• November 2024: Medtronic launched a bioresorbable orthopedic implant using advanced polyglycolic acid (PGA), aimed at supporting bone regeneration and reducing post-surgical risks for improved patient recovery outcomes.
• September 2024: Stryker introduced a bioresorbable stent for cardiovascular use, focusing on enhancing patient safety by reducing risks associated with arterial blockages and promoting safer long-term outcomes.
• July 2024: Johnson & Johnson acquired a bioresorbable materials startup to enhance its product portfolio in drug delivery systems and expand its R&D capabilities, advancing innovations in bioresorbable technologies.
• May 2024: Boston Scientific received FDA approval for its bioresorbable drug-eluting stent, a major advancement in cardiovascular applications that promises improved safety and effectiveness for patients with arterial diseases.
• March 2024: A Japanese research institute collaborated with a medical device manufacturer to co-develop bioresorbable materials aimed at advancing tissue engineering applications, further expanding the potential of bioresorbable technologies.
• January 2024: The University of Cambridge partnered with a European bioresorbable materials company to explore PLA applications in wound care and orthopedic devices, driving innovation in bioresorbable technology for medical uses.

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