Bioresorbable Medical Material Market – Overview

The global bioresorbable medical material market is expected to expand at a healthy rate from 2021 to 2031 (forecast period). Bioresorbable polymers are also referred to as biodegradable polymers. These are extensively utilized in drug delivery, implant, and other applications. These have a variety of medicinal applications and can be programmed to decline at a specific rate, making them helpful for temporary assistance. The global bioresorbable medical material market is expected to be driven by an increase in the number of orthopedic operations, a rise in the elderly population, and an increase in the usage of bioresorbable polymers for medical purposes.

Expanding operations in future? To get the perfect launch ask for a custom report

Bioresorbable Medical Material Market – Competitive Landscape

Prominent players operating in the global bioresorbable medical material market include Poly-Med Corporation, Evonik, Groupe PCAS, Foster Corporation, Ashland, Corbion, Durect Corporation, DSM, Putnam Plastics, and Zeus Industrial Products, Inc.

To maintain their position in the worldwide bioresorbable medical material market, the companies are focusing on initiatives such as new releases and expansions.

In June 2021, Evonik developed a 3D printing VESTAKEEP Care M40 material, PEEK biomaterial, for medical applications with body contact for up to 30 days. According to the company, the material is expected to be beneficial for filigree prostheses, surgical drilling aids for dentistry, and hearing aids.

Bioresorbable Medical Material Market – Trends and Opportunities

The aging population is causing a spike in the overall number of orthopedic surgeries performed globally. Moreover, substantial advances in orthopedic science have aided in the execution of better and more efficient surgical techniques, resulting in their rising use. Biodegradable polymers, which are utilized to create bioresorbable implants, are also becoming more popular.

As per a Becker's Hospital analysis, the overall number of orthopedic procedures conducted in the United States reached 6.5 million in 2020, up from 5.2 million in 2010. Furthermore, a full-time practicing orthopedic surgeon does around 32 procedures every month, which equates to over one surgery conducted per day, as per the American Society of Orthopedic Surgeons (AAOS). As a result, rising orthopedic surgeries and the advantages of bioresorbable medical materials in treating orthopedic injuries and musculoskeletal illnesses are expected to boost the global bioresorbable medical material market throughout the projected period.

According to a WHO study, people aged 60 and more are anticipated to double to 2 billion by 2050, up from 800 million in 2015. Moreover, by 2050, it is expected that 80.0% of this population will be living in developing countries. This significant increase in the senior population creates a need for a well-established healthcare infrastructure with enhanced capabilities and modern treatment technologies. As per United Nations research (2017), the old population in Africa is projected to expand substantially by 2050, followed by Asia Pacific (APAC), North America, and Latin America.

Furthermore, as per a new study released in the British Journal of Surgery (BJS) in May 2019, the number of patients aged 75 and above grew significantly in England from 1999 to 2015. The high number of orthopedic procedures necessitates growth in the need for surgical supplies and devices, implying a huge consumption of bioresorbable materials. Hence, the expanding older population is expected to promote demand for bioresorbable medicinal materials, which in turn would drive global bioresorbable medical material market growth during the forecast period.

Request a sample to get extensive insights into the Bioresorbable Medical Material Market

Bioresorbable Medical Material Market – Regional Landscape

The bioresorbable medical material market in North America is expected to develop during the projection period due to advancements in orthopedic surgery procedures, expanding R&D activities, and the strong presence of key players in the region. Moreover, the bioresorbable medical material market in Asia Pacific is projected to grow during the forecast period.

This upcoming business intelligence report is intended to be a one-stop market research solution to guide organizations in taking timely and effective decisions for their business growth. The ongoing study is the culmination of our deep expertise on data science methods, combined with an unparalleled understanding of the external environment and analysis of the industries. Each of the reports by TMR aims at offering a detailed scrutiny of the value chain of our current and prospective customers, takes them from identifying value propositions, and subsequently assist their business executives to implement right strategies to create customer value. We believe that creating and sustaining the customer value is the key pivot on which business executives can create profits for their organizations and increase the market shares, continuously and with sustainability.

Each of our touchpoints through which we engage with the organization/enterprise during the primary research enables us to understand the internal environment it operates in and the ways in which the external environment influences its growth.

Always Evolving with Competition

Excellence is built into the DNA of TMR, and all our teams work collaboratively and committedly toward achieving that in whatever they do. From the very first interaction our teams of research analysts have with any interested market participant to the final preparation processes in each of our reports reflects a rigorous understanding of the dynamic industry environment that businesses operate in.

We relentlessly work to be a differentiator in whatever we do in the current era of hypercompetitive global environment. The result of our unceasing focus on excellence is reflected clearly in the insights and guidance we offer to our customers in order to empower them to create brand equity. Our simple yet very powerful underpinning for navigating the competition is to always keep evolving with changing business environments. Our close-kinit team of research analysts not only believe in this simple philosophy but also implement the same.

Constantly Innovating Our Research Methodologies and Models

We do not limit with any specific market research tool or one standard approach for obtaining or analyzing data. Undoubtedly, our report making process is ever-evolving to meet the customer needs and demands supported broadly by a vast knowledge of data science methods that we combine with business acumen our teams have built upon for several years. Evidently, our primary and secondary research data about customers and consumers have shown that we can go to any lengths to obtain them. This is followed by applying next-gen automation tools integrated with human judgement to clear the clutter, ascertain the most relevant and recent qualitative and quantitative insights, and package them in digestible chunks in our reports for our customers.

We Take Pride in No-One-Size-Fits-All Approach

Over the past several years, we have been conducting market intelligence studies across all industries for all types of organizations — big and small, profit and not-for-profit, and Fortune 500 and Unicorns, as we believe that a sound decision making must be based on no-one-size-fits-all approach. Without doubt, each of the organizations regardless of the industry they are in are affected differently by changes in political, economic, socio-culture, legal, ecological, and legal environments. The research models and the value chain analysis process that our analysts employ for conducting the study uphold this approach.

We look at myriad components of internal and external business environment affecting the growth strategies of organizations. Some of the broader aspects that we focus on are:

  • Our team of Analysts and Support Teams always strive to see the bigger picture in life cycle stages of any industry
  • The Teams focus on obtaining valuable insights into different models of competitive advantage while making an internal environment analysis
  • They keep on modifying the value chain analysis processes of organizations to understand on how customer value is created

Some areas of assessing market dynamics that are used in the research models and methodologies adopted by our analysts can be summarized as:

  • Corporate and business strategies underlying new brand positioning strategies
  • Mapping for strategic planning for business units
  • Various metrics for business portfolio analysis, including BCG matrix
  • Value chain analysis

These will help create and sustain competitive advantage for our prospects and current customers.

Key focus areas and agenda that underpin and catalyze our primary and secondary research initiatives and endeavors are:

  • What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
  • What are some of the branding opportunities that are emerging at a rapid pace?
  • What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
  • Why some competitive strategies are popular than others among leaders in a certain market?
  • What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
  • What are some of the key pricing strategies that companies in an industry are implementing for marketing their products internationally?
  • Identifying whether market-push or market-pull strategies are more relevant to a certain product or a service?

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Bioresorbable Medical Material Market