Oct 1, 2020 9:21 PM ET
iCrowd Newswire – Oct 1, 2020
Zion Market Research has published a new report titled “Drug Integrated Polymer Fibers Market by Type (Polylactic Acid, Polydioxanone, Polycaprolactone, and Others), by Application (Drug Delivery, Orthopedic Sutures, Vascular Stents, Vascular Grafts, Dermal Wound Healing, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”. According to the report, global demand for global drug integrated polymer fibers market was valued at USD 57.0 million in 2018, and is expected to generate revenue of USD 90.3 million by end of 2025, growing at a CAGR of 6.8% between 2019 and 2025.
Since many years several carriers for drug have been tested and developed for targeted applications. In terms of material type, polymers are considered as a preference and are the ones which are used widely because of their simple forming properties coupled with effortlessly tunable properties. In drug release process the phenomenon for release differs in complexity dependent on the type and design of involved materials. In case of polymeric materials the drug release process is usually directly related to drug dissolution, diffusion, & degradation of the carrier matrix. Though, other factors, like connections of the drug and the material can also stimulate the release kinetics.
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New zones of applications for medical textiles have been recognized with expansion of new yarns and fibers. Medical textile fibers are usually made of biodegradable, non-carcinogenic, non-allergic, and nontoxic material since they provide extensive medical applications. These fibers are available in woven, non-woven, knitted form appropriate for medical textile applications. Advances in fiber based wound healing systems, pharmaceutical, biologics products together with prominent growth in regenerative medicine and tissue engineering are propelling the orthopedic product/sutures segment which is anticipated to witness a prompt growth in global drug integrated polymer fiber market over the forecast period.
The market for drug integrated polymer fibers is segmented on the basis of type into polycaprolactone, polylactic acid, polydioxanone, and others. Polylactic acid segment held major share of the market in 2018. The growth of this segment is likely due to the properties of polylactic acid (PLA) like stable biocompatibility, and biodegradability of the material. Based on application the market for drug integrated polymer fibers is segmented into dermal wound healing, drug delivery, orthopedic sutures, vascular grafts, vascular stents, and others. The orthopedic sutures held major share of the market in terms of revenue in 2018 due to growing adoption of polymer fibers in drug delivery systems.
Asia-Pacific, Latin America, North America, Europe, and Middle East & Africa are key regional segments of drug integrated polymer fibers market. North America dominated the drug integrated polymer fiber market due to increasing incidences of chronic diseases, favorable reimbursement policies and rise in geriatric population. In 2018, about 38% share of the drug integrated polymer fiber market share was held by North America owing to the high prevalence of orthopedic and musculoskeletal conditions with increasing geriatric population. Europe is the second largest regional market and is likely to indicate significant growth in the years to come, due to growing demand for innovative and technically advanced therapies for treatment of chronic diseases, and presence of leading market players. In addition, the developed healthcare infrastructure mainly in developed countries such as Russia, France, Germany, and U.K. is likely to drive this regional market.
Some of the players in drug integrated polymer fibers market include Micro Engineering Solutions, TissueGen, Inc., and Integrated Polymer Solutions. Players in this market are frequently engaged in activities like M&A to retain their market position and diversify their product portfolio.
This report segments the global drug integrated polymer fibers market as follows:
Global Drug Integrated Polymer Fibers Market: Type Segment Analysis
- Polylactic Acid (PLA)
- Polydioxanone (PDO)
- Polycaprolactone (PCL)
- Others (PGA, PLGA, PDLL)
Global Drug Integrated Polymer Fibers Market: Application Segment Analysis
- Drug Delivery
- Orthopedic Sutures
- Vascular Stents
- Vascular Grafts
- Dermal Wound Healing
Global Drug Integrated Polymer Fibers Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Keywords: Drug Integrated Polymer Fibers Market