BIORESORBABLE POLYMERS MARKET ANALYSIS

Regional Analysis

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.