The rising healthcare infrastructure in developing economies is broadening the scope of bioresorbable polymer-based medical devices across the region. The increase in the geriatric population and consumers' growing per capita income in developing countries, such as South Africa, offer lucrative opportunities for the healthcare sector. Owing to better healthcare facilities and growing geriatric population, developing economies tend to provide various medical services and orthopedic devices for common problems among older people, such as hip, knee, spine, and joint surgeries. Hence, the rise in spending on healthcare infrastructure and increase in the elderly population in developing countries is expected to boost the bioresorbable polymers market in the Middle East & Africa during the forecast period.
South Africa has reported the highest number of COVID-19 cases in the Middle East & Africa, followed by Saudi Arabia and the UAE. The impact of lockdown on the Middle Eastern and African countries has been severe. Various manufacturing companies related to the chemical and materials sector were shut down, which also led to the reduction in bioresorbable polymer production. Disruptions in supply chains and reduced demand for medical implants during COVID also limited the market. As the social restrictions are being eased out, manufacturing units have begun to reopen gradually. Moreover, with the rescheduling of surgeries has raised the medical device demand and production. Thus, the resurgence of the healthcare sector is likely to fuel the bioresorbable polymer market in the coming years.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Middle East & Africa bioresorbable polymers market at a good CAGR during the forecast period.
Middle East & Africa Bioresorbable Polymers Market Segmentation