Report : Middle East and Africa Bioresorbable Polymers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type [Polylactic Acid (PLA), Polyglycolic Acid (PGA), Polydioxanone, Polycaprolactone (PCL), and Others] and Application (Orthopedic Devices, Drug Delivery, and Others)
Polylactic Acid (Pla) is Expected to be the Fastest Growing Segment During the Forecast Period 2020–2028
According to a new market research study on “Middle East & Africa Bioresorbable Polymers Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 255.34 million by 2028 from US$ 179.64 million in 2021. The market is estimated to grow at a CAGR of 5.2% from 2021 to 2028. The report provides trends prevailing in the Middle East & Africa bioresorbable polymers market along with the drivers and restraints pertaining to the market growth. Boosting healthcare infrastructure in developing economies, upraising trend of 3d scaffold printing for tissue engineering, and escalating demand for bioresorbable-based medical implants and wound dressing covers are the major factor driving the growth of the Middle East & Africa bioresorbable polymers market. However, uplifting minimally invasive surgeries hinders the growth of Middle East & Africa bioresorbable polymers market.
South Africa has the highest COVID-19 cases in the Middle East & Africa, followed by Saudi Arabia and the UAE. The UAE was the first country in the Middle East & Africa to report a confirmed case of COVID-19. The impact of lockdown in the Middle Eastern and African countries has been severe. Various manufacturing companies related to the chemical and materials sector have been shut down, leading to reduced bioresorbable polymer production. The disruptions in the supply chain and reduced demand for medical implants during COVID have limited the market. As the restrictions are being eased out, the manufacturing units have been reopened and an increase in surgeries, leading to a raised demand and production of medical devices. This factor will positively impact the bioresorbable polymer market over the next few years.
The Middle East & Africa bioresorbable polymers market is segmented on the basis of type, application, and country. Based on type, the market is segmented into polylactic acid (Pla), polyglycolic acid (Pga), polydioxanone, polycaprolactone (Pcl), and others. In 2020, polyglycolic acid (Pga) segment held the largest share in the market, and polylactic acid (Pla) is expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into orthopedic devices, drug delivery, and other application. In 2020, orthopedic devices segment held the largest share in the market, and it is also expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into South Africa, Saudi Arabia, the UAE, and Rest of MEA. In 2020, the UAE held the largest share in the market, and South Africa is expected to be the fastest growing country during the forecast period.
Evonik Industries AG; Musashino Chemical Laboratory, Ltd.; Ashland Global Holdings Inc.; and Poly-Med Incorporated are among the leading companies in the Middle East & Africa bioresorbable polymers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Evonik launched a new line of RESOMER Composites.
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