The bioresorbable medical material was valued at US$ 935.99 million in 2019 and is expected to grow at a CAGR of 9.7% from 2020 to 2027 to reach US$ 1,942.13 million by 2027.
Driving factors of the bioresorbable medical material market are rising adoption of bioresorbable polymers for medical use and increasing number of orthopedic surgeries. However, factor such as challenges associated with the use of bioresorbable materials for medical use is likely to have negative impact on the growth of the market in the coming years. The rise in aging population is consequently leading to an increase in the total number of orthopedic procedures performed worldwide.In addition, significant advancements in the field of orthopedic science have also helped in conducting better and efficient surgical procedures leading to their increasing adoption.
The use of biodegradable polymers 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 with 5.3 performed in 2010. Moreover, according to the American Society of Orthopedic Surgeons (AAOS), a full-time practicing orthopedic surgeon performs ~32 surgeries each month, which averages to more than one surgery performed per day. Therefore, increasing orthopedic surgeries coupled with benefits of bioresorbable medical material to treat the musculoskeletal diseases and orthopedic injuries are likely to boost the demand for bioresorbable medical material during the forecast period. The global creatinine measurement is segmented by product type and application.The creatinine measurement market, by product, is segmented into Polylactide (PLA), Poly-L-lactide (PLLA), Poly-DL-lactide (PDLLA), Polyglycolide (PGA), Copolymers of PLA and PGA (PGLA).
The Polylactide (PLA) segment held the largest share of the market in 2019.The segment is also anticipated to register the highest CAGR in the market during the forecast period.
Based on application, the bioresorbable medical material market is segmented into drug delivery, medical devices, orthopedics, and others. The drug delivery segment held the largest share of the market in 2019 and is expected to register the fastest growth. Some of the essential primary and secondary sources included in the report are Food and Drug Administration, World Health Organization (WHO), Organisation for Economic Co-operation and Development, and National Cancer Foundation.
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