Synthetic Biodegradable Polymers: Market Overview
Biodegradable polymers are obtained either from synthetic or natural polymers. Synthetic biodegradable polymers are derived from aliphatic aromatic co-polyester which is naturally susceptible to microbial attacks. The synthetic biodegradable polymers are generally used where the transient existence of material is required. In biomedical field, synthetic biodegradable polymers find numerous applications because of its versatile nature. One of the most common application of synthetic biodegradable polymer are used by controlled drug delivery system for the drug carrier that includes stabilization, sustained and localized delivery of the drug.
Non toxicity & good mechanical strength are properties possessed by synthetic biodegradable polymers. In 2015, it was found that PLA (Poly lactic acid) has largest segment in the synthetic biodegradable polymers in terms of volume. The manufacturing of synthetic biodegradable polymers is a controlled process with fixed quantities of chemical constituents. Various other applications of synthetic biodegradable polymers are in the form of implant delivery drug devices, hemostats, scaffolds and in the preparation of sutures & orthopedic devices.
Global Synthetic Biodegradable Polymers Market: Dynamics
The demand for the synthetic biodegradable polymers is benefiting from the narrow pricing gap between biopolymers & petro chemical based polymers. The key factors that drives the market of synthetic biodegradable polymers are in the application of bio based material & renewable resources. Changing preferences & awareness of consumers towards ecofriendly packaging also escalates the need of synthetic biodegradable polymers in the market. Polylactic acid which is derivative of synthetic biodegradable plastic is used widely in agricultural that also drives the demand.
Since the synthetic biodegradable polymers have superior mechanical strength, higher esthetic value & reduced level of toxins than its alternatives that escalates the demand of synthetic biodegradable polymers. Positive attitude of government towards greener products which also tends to be the driving key for synthetic biodegradable polymers in the market. Therefore, on global level the synthetic biodegradable polymers acts as a substitute of conventional polymers. However synthetic biodegradable polymers lacks the cost efficiency over its substitutes.
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Global Synthetic Biodegradable Polymers Market: Segmentation
Synthetic biodegradable polymers can be segmented on the basis of origin and end use industry which are given below:
On the basis of product type, the global synthetic biodegradable polymers market can be segmented as:
- Aliphatic polymers
- Poly glycoside acid (PGA)
- Polylactic acid (PLA)
- Polycaprolactone acid (PCL)
On the basis of applications, global synthetic biodegradable polymers market can be segmented as:
- Implantable delivery drug devices
- Orthopedic devices
- Grafts and Stents
On the basis of end use industry, global synthetic biodegradable polymers market can be segmented as:
- Chemical Industry
- Pharmaceutical Industry
- Home & Personal Care Industry
- Agriculture & Allied Industries
- Others Industries
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Geographically, synthetic biodegradable polymers can be segmented into North America, Europe, Latin America & Asia-Pacific region and Middle East & Africa (MEA) regions. Western Europe is the largest consumer of synthetic biodegradable polymers due to strict implementation of environmental regulation. Countries like U.K., Italy has banned the use of petroleum based plastic bags and in Ireland and Germany there is a tax charged on use of petroleum based plastic bags. There is significant growth in U.S. synthetic biodegradable polymers market as it accounts for largest pharmaceutical sector followed by Japan, China etc.
Global Synthetic Biodegradable Polymers Market: Key Players
Some of the major key players of synthetic biodegradable polymers are mentioned below:
- Eastman Chemical Co.
- Procter & Gamble Co.
- Ethicon Inc.
- Cargill Dow’s Nature Works PLA
- Biome Technologies PLC.
- Metabolix Inc.
- Solanyl Biopolymers Inc.
- Aegis Lifesciences Corp.
- Biosphere’s Development Corp.
Global Synthetic Biodegradable Polymers Market: Key Developments
- Ethicon, part of the Johnson & Johnson launches Proxisure suturing device designed to improve precision in minimally-invasive surgery in Aug 2017.
- New DYNACORD from DePuy Synthes designed to help address challenges associated with rotator cuff surgery.
- Aegis Lifesciences Corp. developed hemostats that can be extensively utilized in various surgeries such as cardiac, thoracic surgery, urologic, vascular.