Market Forecast by Countries (South Africa, Nigeria, Kenya, Rest of Africa), By Type (Polylactic acid (PLA), Polyglycolic acid (PGA), Poly(lactic-co-glycolic acid) (PLGA), Polycaprolactone(PCL), Others), By Application (Orthopedic devices, Drug delivery) And Competitive Landscape
Product Code: ETC4603962 | Publication Date: Jul 2023 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 300 | |
Report Name | Africa Bioresorbable Polymers Market |
Forecast period | 2025-2031 |
CAGR | 5.3% |
Growing Sector | Medical |
Africa Bioresorbable Polymers Market report thoroughly covers the market By Countries, By Type, and By Application. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Africa Bioresorbable Polymers Market is witnessing significant growth, driven by increasing demand for medical implants that offer effective temporary support during the healing process. The growth of the market is further fueled by technological advancements, a growing geriatric population susceptible to orthopedic conditions, and rising healthcare investments across the region.
According to 6Wresearch, the Africa Bioresorbable Polymers Market size is expected to grow exponentially, reaching at a CAGR of 5.3% during the forecast period of 2025-2031. The market is driven by the increasing demand for sustainable and environmentally friendly materials in the medical sector, where bioresorbable polymers are utilized for a variety of applications, including surgical sutures, drug delivery systems, and implantable devices. Additionally, advancements in material science and polymer technology have significantly improved the performance attributes of bioresorbable polymers, making them more appealing to healthcare providers and patients alike. However, the Africa Bioresorbable Polymers Market Growth is hampered mainly due to high production costs and stringent regulatory approvals pose considerable restraints. Despite these hurdles, the burgeoning healthcare infrastructure in many African countries, coupled with rising awareness about the benefits of bioresorbable polymers, presents vast emerging opportunities for market growth in the region.
The Africa bioresorbable polymers industry has seen significant growth due to favorable government policies and schemes aimed at encouraging sustainable development and medical advancements. These policies include tax incentives for research and development, grants for startups focusing on green materials, and stricter regulations on non-biodegradable polymers. The government have introduced tax incentives for companies investing in research and development of these materials. This has helped to lower the cost of production, making it more affordable for manufacturers to switch to bioresorbable polymers. In addition to tax incentives, governments have also introduced grants or funding programs specifically aimed at startups in the bioresorbable polymer industry. These grants provide financial support for research and development, infrastructure development, and marketing efforts.
The market is highly competitive with the presence of global and regional players, contributing to its dynamic nature. Major companies include Poly-Med, Inc., Evonik Industries AG, and Corbion N.V., each playing a crucial role in driving innovation and providing a wide range of bioresorbable polymers for medical applications.
The Africa bioresorbable polymers market share is growing enormously, driven by increasing demand for eco-friendly materials in healthcare and a growing awareness of the benefits of sustainable products. Technological advancements and continued government support are expected to further stimulate market expansion, making Africa an increasingly important player in the global bioresorbable polymers landscape. Additionally, collaborations between local and international companies, as well as investments in research and development, are likely to generate new innovations and drive market growth.
According to Shubham, Senior Research Analyst, 6Wresearch, the Poly (Lactic-Co-Glycolic Acid) (PLGA) segment is set to grow in the coming years on the back of its versatile applications in the medical field, including drug delivery systems, sutures, and implants.
In terms of application, the drug delivery segment is substantially gaining traction over the years, primarily due to the increasing adoption of targeted drug delivery systems, which offer more efficient and precise treatment options for various diseases.
The report offers a comprehensive study of the subsequent market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Africa Bioresorbable Polymers Market Overview |
3.1 Africa Regional Macro Economic Indicators |
3.2 Africa Bioresorbable Polymers Market Revenues & Volume, 2021 & 2031F |
3.3 Africa Bioresorbable Polymers Market - Industry Life Cycle |
3.4 Africa Bioresorbable Polymers Market - Porter's Five Forces |
3.5 Africa Bioresorbable Polymers Market Revenues & Volume Share, By Countries, 2021 & 2031F |
3.6 Africa Bioresorbable Polymers Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Africa Bioresorbable Polymers Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Africa Bioresorbable Polymers Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Africa Bioresorbable Polymers Market Trends |
6 Africa Bioresorbable Polymers Market, 2021 - 2031 |
6.1 Africa Bioresorbable Polymers Market, Revenues & Volume, By Type, 2021 - 2031 |
6.2 Africa Bioresorbable Polymers Market, Revenues & Volume, By Application, 2021 - 2031 |
7 South Africa Bioresorbable Polymers Market, 2021 - 2031 |
7.1 South Africa Bioresorbable Polymers Market, Revenues & Volume, By Type, 2021 - 2031 |
7.2 South Africa Bioresorbable Polymers Market, Revenues & Volume, By Application, 2021 - 2031 |
8 Nigeria Bioresorbable Polymers Market, 2021 - 2031 |
8.1 Nigeria Bioresorbable Polymers Market, Revenues & Volume, By Type, 2021 - 2031 |
8.2 Nigeria Bioresorbable Polymers Market, Revenues & Volume, By Application, 2021 - 2031 |
9 Kenya Bioresorbable Polymers Market, 2021 - 2031 |
9.1 Kenya Bioresorbable Polymers Market, Revenues & Volume, By Type, 2021 - 2031 |
9.2 Kenya Bioresorbable Polymers Market, Revenues & Volume, By Application, 2021 - 2031 |
10 Rest of Africa Bioresorbable Polymers Market, 2021 - 2031 |
10.1 Rest of Africa Bioresorbable Polymers Market, Revenues & Volume, By Type, 2021 - 2031 |
10.2 Rest of Africa Bioresorbable Polymers Market, Revenues & Volume, By Application, 2021 - 2031 |
11 Africa Bioresorbable Polymers Market Key Performance Indicators |
12 Africa Bioresorbable Polymers Market - Opportunity Assessment |
12.1 Africa Bioresorbable Polymers Market Opportunity Assessment, By Countries, 2021 & 2031F |
12.2 Africa Bioresorbable Polymers Market Opportunity Assessment, By Type, 2021 & 2031F |
12.3 Africa Bioresorbable Polymers Market Opportunity Assessment, By Application, 2021 & 2031F |
13 Africa Bioresorbable Polymers Market - Competitive Landscape |
13.1 Africa Bioresorbable Polymers Market Revenue Share, By Companies, 2024 |
13.2 Africa Bioresorbable Polymers Market Competitive Benchmarking, By Operating and Technical Parameters |
14 Company Profiles |
15 Recommendations |
16 Disclaimer |