Market Forecast 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: ETC4502859 | Publication Date: Jul 2023 | Updated Date: Jan 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 | |
Report Name | Turkey Bioresorbable Polymers Market |
Forecast period | 2025-2031 |
CAGR | 7.5% |
Growing Sector | Healthcare |
Turkey Bioresorbable Polymers Market report thoroughly covers the market by Type, and Application. The market 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.
Turkey bioresorbable polymers market is experiencing notable growth and is anticipated to sustain this momentum in the forthcoming years. This expansion is primarily driven by the increasing adoption of bioresorbable polymers in the medical and pharmaceutical sectors, particularly for orthopedic devices and drug delivery systems.
According to 6Wresearch, Turkey Bioresorbable Polymers Market is projected to grow at a CAGR of 7.5% during 2025-2031. Key factors propelling this growth include the rising healthcare demands, advancements in medical technologies, and a shift towards biocompatible materials. Additionally, the Turkish government's supportive policies and investments in the healthcare infrastructure are boosting market demand.
However, the market does face some challenges. The high cost of bioresorbable polymers compared to traditional materials can be a significant barrier, potentially limiting widespread adoption. Moreover, regulatory hurdles and the need for extensive clinical trials can also pose challenges to market growth.
Prominent players in Turkey's bioresorbable polymers market include Evonik Industries AG, Corbion NV, and Poly-Med, Inc. These companies hold a substantial market share due to their comprehensive product portfolios and robust distribution channels. Evonik Industries AG, a German-based company, is renowned for its high-quality polymers used in medical applications. Corbion NV, headquartered in the Netherlands, specializes in polylactic acid (PLA) and other bio-based polymers. Poly-Med, Inc., an American company, offers a wide range of bioresorbable polymers catering to various medical applications.
The Turkish government has launched several initiatives to foster the use of advanced medical technologies and materials, including bioresorbable polymers. These initiatives aim to enhance healthcare services and promote local manufacturing of medical devices. Furthermore, Turkey’s strategic plan for health includes investments in research and development of biocompatible materials, aligning with global trends towards sustainable and patient-friendly medical solutions. Efforts are also being made to streamline regulatory processes, making it easier for innovative medical products to enter the market.
The Turkey Bioresorbable Polymers Market is poised for significant growth in the coming years, driven by factors such as increased investment in healthcare infrastructure, ongoing advancements in medical technology, and a growing preference for biocompatible materials. The country's objective to enhance its healthcare services and reduce dependency on imports will further stimulate market demand. Moreover, advancements in bioresorbable polymer technologies and their expanding applications in various medical fields will likely fuel market growth. The trend towards personalized medicine and tailored treatment solutions is expected to further enhance the adoption of bioresorbable polymers. Overall, the market exhibits strong potential for growth with a focus on innovation and sustainability.
According to Ravi Bhandari, Research Head, 6Wresearch, the Polylactic Acid (PLA) segment currently dominates the market. This can be attributed to its wide usage in medical applications and favorable biocompatibility.
In terms of application, orthopedic devices are the most widely used segment in Turkey. These devices play a critical role in medical treatments and surgeries, with the rising demand for advanced healthcare solutions driving their usage.
The report provides a detailed analysis of the following 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 Turkey Bioresorbable Polymers Market Overview |
3.1 Turkey Country Macro Economic Indicators |
3.2 Turkey Bioresorbable Polymers Market Revenues & Volume, 2021 & 2031F |
3.3 Turkey Bioresorbable Polymers Market - Industry Life Cycle |
3.4 Turkey Bioresorbable Polymers Market - Porter's Five Forces |
3.5 Turkey Bioresorbable Polymers Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 Turkey Bioresorbable Polymers Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 Turkey Bioresorbable Polymers Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Turkey Bioresorbable Polymers Market Trends |
6 Turkey Bioresorbable Polymers Market, By Types |
6.1 Turkey Bioresorbable Polymers Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 Turkey Bioresorbable Polymers Market Revenues & Volume, By Type, 2021 - 2031F |
6.1.3 Turkey Bioresorbable Polymers Market Revenues & Volume, By Polylactic acid (PLA), 2021 - 2031F |
6.1.4 Turkey Bioresorbable Polymers Market Revenues & Volume, By Polyglycolic acid (PGA), 2021 - 2031F |
6.1.5 Turkey Bioresorbable Polymers Market Revenues & Volume, By Poly(lactic-co-glycolic acid) (PLGA), 2021 - 2031F |
6.1.6 Turkey Bioresorbable Polymers Market Revenues & Volume, By Polycaprolactone(PCL), 2021 - 2031F |
6.1.7 Turkey Bioresorbable Polymers Market Revenues & Volume, By Others, 2021 - 2031F |
6.2 Turkey Bioresorbable Polymers Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 Turkey Bioresorbable Polymers Market Revenues & Volume, By Orthopedic devices, 2021 - 2031F |
6.2.3 Turkey Bioresorbable Polymers Market Revenues & Volume, By Drug delivery, 2021 - 2031F |
7 Turkey Bioresorbable Polymers Market Import-Export Trade Statistics |
7.1 Turkey Bioresorbable Polymers Market Export to Major Countries |
7.2 Turkey Bioresorbable Polymers Market Imports from Major Countries |
8 Turkey Bioresorbable Polymers Market Key Performance Indicators |
9 Turkey Bioresorbable Polymers Market - Opportunity Assessment |
9.1 Turkey Bioresorbable Polymers Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 Turkey Bioresorbable Polymers Market Opportunity Assessment, By Application, 2021 & 2031F |
10 Turkey Bioresorbable Polymers Market - Competitive Landscape |
10.1 Turkey Bioresorbable Polymers Market Revenue Share, By Companies, 2024 |
10.2 Turkey Bioresorbable Polymers Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |