North America 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)
The bioresorbable polymers market in North America is expected to grow from US$ 1,189.92 million in 2021 to US$ 2,499.56 million by 2028; it is estimated to grow at a CAGR of 11.2% from 2021 to 2028.
The demand for bioresorbable-based medical implants and wound dressing covers is increasing due to their self-dissolving properties in the human body. Bioresorbable polymers such as polylactic acid, polycaprolactone, and polydioxanone are widely used to manufacture screws, pins, rods, plates scaffolds, sutures, stents, and other medical implant devices. Furthermore, these polymers are also used as controlled drug release implants inside the human body. Once the recovery of the patients’ organs begins, these implants gradually start dissolving and are entirely absorbed in the body after the fulfillment of their function. As the body itself absorbs these bioresorbable implants, patients do not require a second surgical intervention to remove them. Thus, improved clinical outcomes and cost-effectiveness associated with these implants are supporting the market growth. Further, bioresorbable polymers are witnessing a surge in their demand due to their increased applications for wound management. Bioresorbable-based synthetic polymer wraps are widely used for wound dressing and covering since they provide a barrier against bacterial penetration as well as oxygen permeability to the wound. The polymer is also used to manufacture bioresorbable wraps and sheets that are extremely thin and transparent foils capable of holding tissue masses in place and facilitating post-surgery healing. In addition, bioresorbable polymer powders are used for dermal filler applications. Dermal fillers, also known as soft tissue fillers, are injected into the skin using a minor surgical procedure to plump thin lips, enhance shallow contours, soften facial creases, remove wrinkles, and improve the appearance of scars.
The US reported the highest number of COVID-19 cases among all key countries in North America, which obstructed manufacturing processes, research, and development activities in the region. The shutdown of manufacturing other operational units hampered the bioresorbable polymer market. The halt in the production of medical devices and delays in non-essential surgeries during the pandemic also hampered the market growth in 2020. A study on orthopedic surgery volumes by the Journal of Bone and Joint Surgery, in May 2020, stated that the US is expected to face a cumulative backlog of more than a million total joint and spine surgery cases by mid-2022, which will limit the demand of medical implants. However, the reopening of manufacturing facilities after the relaxation on lockdown is aiding the resurgence of the bioresorbable polymer market activities.
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 North America bioresorbable polymers market at a good CAGR during the forecast period.
North America Bioresorbable Polymers Market Revenue and Forecast to 2028 (US$ Million)
North America Bioresorbable Polymers Market Segmentation
North America Bioresorbable Polymers Market, by Type
- Polylactic Acid (PLA)
- Polyglycolic Acid (PGA)
- Polydioxanone
- Polycaprolactone(PCL)
- Others
North America Bioresorbable Polymers Market, by Application
- Orthopedic Devices
- Drug Delivery
- Other Application
North America Bioresorbable Polymers Market, by Country
- US
- Canada
- Mexico
North America Bioresorbable Polymers Market – Companies Mentioned
- Evonik Industries AG
- Musashino Chemical Laboratory, Ltd.
- Ashland Global Holdings Inc.
- Poly-Med Incorporated
- Foster Corporation
- REVA Medical, LLC
- Polysciences Inc.
- Bezwada Biomedical LLC
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. North America Bioresorbable Polymers Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers:
4.2.2 Bargaining Power of Buyers:
4.2.3 Threat of New Entrants:
4.2.4 Competitive Rivalry:
4.2.5 Threat of Substitutes:
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. North America Bioresorbable Polymers Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Demand for Bioresorbable Medical Implants and Wound Dressing Covers
5.1.2 Surging Demand for Orthopedic Surgery due to Augmenting Cases of Road and On-site Accident
5.2 Market Restraints
5.2.1 Growing Minimally Invasive Surgeries
5.3 Future Trends
5.3.1 Heighten Trend of 3D Scaffold Printing for Tissue Engineering
5.4 Impact Analysis of Drivers and Restraints
6. North America Bioresorbable Polymers –Market Analysis
6.1 Bioresorbable Polymers Market Overview
6.2 North America Bioresorbable Polymers Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Bioresorbable Polymers Market – By Type
7.1 Overview
7.2 North America Bioresorbable Polymers Market, By Type (2020 and 2028)
7.3 Polylactic Acid (PLA)
7.3.1 Overview
7.3.2 Polylactic Acid (PLA): Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Polyglycolic Acid (PGA)
7.4.1 Overview
7.4.2 Polyglycolic Acid (PGA): Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Polydioxanone
7.5.1 Overview
7.5.2 Polydioxanone: Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
7.6 Polycaprolactone (PCL)
7.6.1 Overview
7.6.2 Polycaprolactone (PCL): Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Bioresorbable Polymers Market Analysis – By Application
8.1 Overview
8.2 North America Bioresorbable Polymers Market, By Application (2020 and 2028)
8.3 Orthopedic Devices
8.3.1 Overview
8.3.2 Orthopedic Devices: Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Drug Delivery
8.4.1 Overview
8.4.2 Drug Delivery: Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others: Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Bioresorbable Polymers Market – Country Analysis
9.1 Overview
9.1.1 North America: Bioresorbable Polymers Market, by Key Country
9.1.1.1 US: Bioresorbable Polymers Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Bioresorbable Polymers Market, by Type
9.1.1.1.2 US: Bioresorbable Polymers Market, by Application
9.1.1.2 Canada: Bioresorbable Polymers Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Bioresorbable Polymers Market, by Type
9.1.1.2.2 Canada: Bioresorbable Polymers Market, by Application
9.1.1.3 Mexico: Bioresorbable Polymers Market –Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Bioresorbable Polymers Market, by Type
9.1.1.3.2 Mexico: Bioresorbable Polymers Market, by Application
10. Impact of COVID-19 on North America Bioresorbable Polymers Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Expansion
11.3 Product News
12. Company Profiles
12.1 Evonik Industries AG
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Foster Corporation
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Ashland Global Holdings Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Poly-Med Incorporated
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 REVA Medical, LLC
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Musashino Chemical Laboratory, Ltd.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Polysciences Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Bezwada Biomedical LLC
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Bioresorbable Polymers Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Bioresorbable Polymers Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Bioresorbable Polymers Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada: Bioresorbable Polymers Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Bioresorbable Polymers Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico Bioresorbable Polymers Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico Bioresorbable Polymers Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Bioresorbable Polymers Market Segmentation
Figure 2. Bioresorbable Polymers Market Segmentation – By Country
Figure 3. North America Bioresorbable Polymers Market Overview
Figure 4. Orthopedic Devices Segment Held the Largest Share of the North America Bioresorbable Polymers Market
Figure 5. The US Held Largest Share of North America Bioresorbable Polymers Market
Figure 6. North America Bioresorbable Polymers Market, Key Market Players
Figure 7. Porter's Five Forces Analysis
Figure 8. Ecosystem Analysis: North America Bioresorbable Polymers Market
Figure 9. Expert Opinions
Figure 10. North America Bioresorbable Polymers Market Impact Analysis of Drivers and Restraints
Figure 11. North America Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Bioresorbable Polymers Market Revenue Share, By Type (2020 and 2028)
Figure 13. Polylactic Acid (PLA): Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Polyglycolic Acid (PGA): Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. Polydioxanone: Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Polycaprolactone (PCL): Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Others: Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. North America Bioresorbable Polymers Market Revenue Share, By Application (2020 and 2028)
Figure 19. Orthopedic Devices: Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Drug Delivery: Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: Bioresorbable Polymers Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Geographic Overview of North America Bioresorbable Polymers Market
Figure 23. North America: Bioresorbable Polymers Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. US: Bioresorbable Polymers Market –Revenue and Forecast to 2028 (US$ Million)
Figure 25. Canada: Bioresorbable Polymers Market –Revenue and Forecast to 2028 (US$ Million)
Figure 26. Mexico: Bioresorbable Polymers Market –Revenue and Forecast to 2028 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic on Bioresorbable Polymer Market in North America
- Evonik Industries AG
- Musashino Chemical Laboratory, Ltd.
- Ashland Global Holdings Inc.
- Poly-Med Incorporated
- Foster Corporation
- REVA Medical, LLC
- Polysciences Inc.
- Bezwada Biomedical LLC
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America bioresorbable polymers market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America bioresorbable polymers market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the bioresorbable polymers market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution