LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global bioresorbable polymers market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global bioresorbable polymers market is expected to grow at a CAGR of close to 14% during the forecast period owing to its high demand from the orthopedics and drug delivery segments. The market in APAC will post the highest growth during in the coming years.
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The top three emerging market trends driving the global bioresorbable polymers market according to Technavio research analysts are:
- Growing medical tourism
- Biodegradable polymeric microspheres in chemotherapeutic drug delivery
- Electrospinning and 3D printing technologies
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Growing medical tourism
Medical device innovators of the developed region are venturing into offshore sites to establish bioresorbable polymers industries. Many medical device innovation centers are operational in the US. They are focusing on clinical data, new product registration, and the initial streams of revenue, which is significant for the bioresorbable polymers market in the US to play a leading role in the industry.
Apart from the US, the radical innovations are also emerging in the developing countries, such as China, India, and Brazil, in APAC and ROW. This is mainly owing to the increase in the investment in medical tourism and rise in the health and safety budget by the governments of these regions. For instance, a typical breast augmentation procedure costs USD 2,200 in India as compared with USD 6,000 in the US. Similarly, Hungary, Mexico, India, Thailand, and Malaysia are the emerging hubs for dental and other treatments, which save about 55%-70% of treatment expenses.
“The growing economic conditions are fostering the healthcare market in emerging economies. Many medical research companies in developed economies are investing in R&D activities in emerging economies to develop innovative products and techniques for treatments. This is expected to have a positive impact on the global bioresorbable polymers market,” says Kshama Upadhyay, a lead analyst at Technavio for bio-chemicals and bio-materials research.
Biodegradable polymeric microspheres in chemotherapeutic drug delivery
Biodegradable polymer microspheres are used in chemotherapy as they offer the benefits of reduced toxicity along with the localized sustained release. Drug-loaded polymer microspheres can be directly injected into the tumor tissue causing minimal harm to the healthy tissues.
Some of the FDA approved biodegradable microspheres available in the market are LUPRON DEPOT, Nutropin Depot, and Zoladex. These advantages of biodegradable polymers in microspheres foster the growth in the global bioresorable polymers market, during the forecast period.
Electrospinning and 3D printing technologies
Electrospinning and 3D printing technologies have gained immense popularity in applications such as emerging tissue engineering (TE). Electrospinning is applied in drug delivery and TE applications such as bone and cartilage TE and synthesis of vascular grafts. In drug delivery, electrospinning is used in the fabrication of the system to facilitate controlled diffusion and polymeric degradation.
“3D printing is expected to grow at an exponential rate during the forecast period, especially its application in TE for the printing of cells and matrix materials using biopolymers to fabricate tissue analogous structures. Thus, these advances in technologies will increase the adoption of bioresorbable polymers during the forecast period,” says Kshama.
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