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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Bioresorbable polymers, also known as degradable polymers, are commonly used in various biomedical applications such as suturing thread, arterial stents, intravenous drug-delivery devices, vascular grafts, temporary bone fixation devices, and degradable sutures. These polymers are used as a replacement for metallic orthopedic devices due to their precise control of material composition and microstructure. Various bioresorbable polymers used in medical applications include polylactic acid (PLA), polyglycolic acid (PGA), and poly (lactic-co-glycolide) (PLGA) copolymers. Polylactic acid (PLA), or polylactide, is the most commonly used bioresorbable polymer. It is majorly used in synthetic grafts, orthopedic medicine, sutures, and drug delivery systems. Polyglycolic acid (PGA), or polyglycolide, another type of bioresorbable polymer is generally used in bioresorbable sutures, orthopedics, and craniomaxillofacial surgery.

Bioresorbable Polymers Market Dynamics

Bioresorbable polymers find applications in the medical field, as they are completely biodegradable inside the human body, which in turn avoid the need for second surgery and reduces post-surgery risks. Drug delivery is one of the most commonly used applications of bioresorbable polymers. Poly (D, L-lactic-co-glycolic acid) (PLGA) is the most frequently used bioresorbable polymer for the controlled release of drugs. Various pharmaceutical ingredients such as anti-cancer drugs and antibiotics can be delivered with controlled and constant release by using timely biodegradation of the drug carrier. PLGA is majorly studied for localized drug delivery for treating cancer, glaucoma, and periodontal diseases, and to coat biodegradable and metallic stents. For instance, drug-eluting stents (DES) have shown significant advantages in comparison to their bare metal stent predecessors in reducing the risk of a recurring blockage (restenosis). Bioresorbable polymers market is expected to gain significant traction during forecast period due to high usage in surgery and pharmaceutics such as artificial skin, biodegradable sutures, and implantable carriers for drug delivery. Over the recent past, PLAs are significantly researched upon due to their biodegradability and biocompatibility, leading to applications in medical science. Moreover, ongoing research on 3D printing, is expected to boost growth of the bioresorbable polymers market.

Increasing government efforts to upgrade health sector is driving growth of the bioresorbable polymers market. For instance, government awareness regarding more sustainable products have gained significant traction in the past decade and are guiding future research on the next generation processes and materials. Various funding agencies such as the Bill and Melinda Gates Foundation fund support both, industrial and academic research to overcome product development challenges in manufacturing, frequency of administration, supply chain, and pricing limitations. Recent research on new and improved products is focused on more sophisticated biomedical applications to provide higher efficacy and minimize pain. For instance, in April 2018, Evonik, a global leader for advanced biomaterials and application technology solutions for bioresorbable implants, launched its first product from a new line of RESOMER composite polymers. With the launch of RESOMER, the company will support medical device customers to enhance the performance of orthopedic applications used to grow or heal bones by integrating the osteoconductive properties of calcium-phosphate-based additives into RESOMER.

However, certain limitation of these polymers such as tendency to degrade during fabrication and storage and moisture sensitivity are expected to hinder growth of the bioresorbable polymers market. These products also lack the tensile strength of metals for load bearing applications, posing as a major restraint for market growth. Moreover, increasing number of regulatory policies affecting the approval of newer products, are also hindering market growth. Several ensembles of instructions are available for manufacturers to comply with the international and local medical device regulations, such as American Society for Testing Materials or MEDDEV.

Bioresorbable Polymers Market Regional Insights

Regional segmentation of the bioresorbable polymers market by Coherent Market Insights, includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The market in North America is expected to hold a dominant position in the bioresorbable polymers market due to rampant advancements in technology related to the bioresorbable polymers and presence of major industry players such as Poly-Med Inc. in the region. Furthermore, market in Asia Pacific is expected to gain significant traction, owing to rising demand for bioresorbable polymers in drug delivery and orthopedics applications and the growing healthcare spending in the region. According to DBS report 2016, healthcare spending in Asia Pacific is estimated to grow CAGR of 12.8% due to rising geriatric population, increase in chronic illnesses, and urbanization. Rising affluence and a surge in lifestyle diseases are additional key structural drivers for the market growth. According to Securities Investors Association (SIAS), in 2018, India and China have the largest number of diabetes sufferers in the world, accounting for around 69 million and 114 million, respectively. Moreover, according to Organisation for Economic Co-operation and Development (OECD), cancer is the second-leading cause of death after cardiovascular disease in the region.

Bioresorbable Polymers Market Competitive Landscape

Key players operating in the bioresorbable polymers market include Corbion N.V., DSM, Degradable Solutions, Evonik Industries AG, Foster Corporation, Galatea Surgical, KLS Martin, LACTEL Absorbable Polymers, MAST Biosurgery, Poly-Med Inc., and Sigma-Aldrich.

Bioresorbable Polymers Market Taxonomy

On the basis of polymer type, the bioresorbable polymers market is segmented into:

  • Agro-polymers
    • Polysaccharides
    • Proteins
  • Biopolyesters
    • Polylactic Acid
    • Polyglycolic Acid
    • Polycaprolactone
    • Others

On the basis of application, the bioresorbable polymers market is segmented into:

  • Drug Delivery
  • Orthopedics
  • Others

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users