Medical Specialties News

Bioresorbable Medical Material Market 2021-2027 Foster Corporation, Poly-Med Corporation, Zeus Industrial Products, Inc.

The bioresorbable medical material market is expected to reach US$ 1,942.13 Mn in 2027 from US$ 935.99 Mn in 2019. The market is estimated to grow with a CAGR of 9.7% from 2020-2027.

Bioresorbable polymers are also known as biodegradable polymers. These are frequently used in implant, drug delivery and other applications. These offer various benefits in medical applications and can be adjusted to degrade at a specified rate, useful for temporary support.The growth of the market is attributed to the some key driving factors such as increasing number of orthopedic surgeries, growing geriatric population and rising adoption of bioresorbable polymers for medical use. However, challenges associated with the use of bioresorbable materials for medical use and bassinet on global business due to coronavirus pandemic are expected to restraint the growth of the Bioresorbable Medical Material market during the forecast years.

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The List of Companies in Bioresorbable Medical Material Market

Foster Corporation
Poly-Med Corporation
Zeus Industrial Products, Inc.
Durect Corporation
Groupe PCAS
Putnam Plastics

Market Insights

Increasing number of orthopedic surgeries

The rise in ageing population is consequently leading to increase in the total number of orthopedic procedures performed worldwide. In addition, the significant advancements in the field of orthopedic science have also helped in conduction of better and efficient surgical procedures leading to their increasing adoption. The uses of biodegradable polymers that are used to produce bioresorbable implants have also witnessed a rise in their adoption. According to a report by Becker’s Hospital, the total number of orthopedic surgeries performed in the US is expected to reach 6.6 million in 2020 as compared to 5.3 performed in 2010. Moreover, according to the American Society of Orthopedic Surgeons (AAOS), a full-time practicing orthopedic surgeon performs approximately 32 surgeries each month, which averages to more than one surgery performed per day.

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An expert in SEO, Prashant carries an experience of over five years in the industry. He has the ability to analyze global industry trends that helps the leaders to make smarter decisions. An electrical, electronics and communication engineer, Prashant is able to predict future trends as they are changing fast with technological development.