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Corporation
HEALTHCARE | Medical Devices & Equipment
advbiomaterials.com

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Founded Year

1993

Stage

Acq - P2P | Acquired

Total Raised

$4.9M

Valuation

$0000 

About AdvanSource Biomaterials Corporation

AdvanSource Biomaterials Corporation is a Healthcare/Medical Devices & Equipment company based in Wilmington, Massachusetts. AdvanSource Biomaterials Corporation's investors include Iroquois Capital, Gryphon, Meadowbrook Capital Management, Atoll Asset Management and Heights Capital Management.On February 3rd, 2020, AdvanSource Biomaterials Corporation was acquired by Mitsubishi Chemical for 7.25M.

AdvanSource Biomaterials Corporation Headquarter Location

229 Andover Street

Wilmington, Massachusetts, 01887,

United States

978-657-0075

Latest AdvanSource Biomaterials Corporation News

Global Polymer Biomaterial Market Outlook 2020-2030 - A $74.41 Billion Market by 2023

Feb 3, 2021

Global Polymer Biomaterial Market Outlook 2020-2030 - A $74.41 Billion Market by 2023 Drucken DUBLIN, Feb. 3, 2021 /PRNewswire/ -- The "Polymer Biomaterial Global Market Report 2020-30: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering. The global polymer biomaterial market is expected to decline from $48.84 billion in 2019 to $46.6 billion in 2020 at a compound annual growth rate (CAGR) of -4.58%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $74.41 billion in 2023 at a CAGR of 16.88%. The polymer biomaterial market consists of sales of polymer biomaterial and related services by entities (organizations, sole traders and partnerships) that produce polymer biomaterial used for enhancing the functionality of tissues and organs that are damaged in various disease therapies. Polymer biomaterials are inert pharmacological substances made up of natural and synthetic origin. The polymer biomaterial market covered in this report is segmented by type into nylon; silicone rubber; polyester; polymethyl methacrylate (PMMA); polyethylene (PE); polyvinyl chloride; others and by application into cardiovascular; ophthalmology; dental; plastic surgery; wound healing; tissue engineering; orthopedics; neurological disorders/central nervous system; others. Companies in the polymer biomaterial market are increasingly investing in bioresorbable copolymers for medical devices for better performance and long-term stability. Companies such as Evonik have invested in bioresorbable polymers for use in implantable medical devices. The company's copolymer possesses hydrophobic properties of polylactide and hydrophilic properties of polyethylene glycol enabling the degradation rates up to six times faster with added mechanical strength. This innovation enhances biocompatibility, safety and performance of implantable products, and is applied in the areas of pediatrics and wound closure to accelerate and ease the healing process and provides long term stability. Stringent regulatory systems concerning the biocompatibility of the polymer biomaterials is expected to limit the global polymer biomaterials market. Although biomaterials undergo rigorous premarket evaluations, considerable adverse events and complications are reported regarding the biocompatibility of polymer biomaterials. Biomaterial implantation may result in immunological and inflammatory reactions due to the induction of cellular and molecular events in the host, which may lead to excessive inflammation, impairment of healing, fibrotic encapsulation, tissue destruction, or even isolation and rejection of the implant. To overcome such adverse immune reactions, stringent regulations are imposed by the regulatory authorities, restricting market growth. In January 2020, Mitsubishi Chemical Corporation completed the acquisition of AdvanSource Biomaterials Corporation for $7.25 million. This acquisition is expected to strengthen Mitsubishi's position within the medical sector and drive its revenues. AdvanSource Biomaterials is a US-based company that manufactures polymer materials that provide critical characteristics in the design and development of medical devices. These polymer biomaterials are used in devices that are designed for treating a broad range of anatomical sites and disease states. Increasing applications of polymeric biomaterials in tissue engineering are driving the global polymer biomaterials market. Polymers are extensively used in regenerative medicine and tissue engineering due to their flexibility and versatile properties such as tailoring the damaged tissue's physical, chemical and mechanical properties by modification of functional groups during synthesis, according to the regeneration capability of tissues of the organs. Besides being biodegradable, they offer different geometry and structures, thus meeting the needs of specific tissue engineering applications. These growing applications of polymer biomaterial in tissue engineering are expected to drive the market in the forecast period. Major players in the polymer biomaterial market are BASF, Corbion, Zimmer Biomet, Royal DSM, Koninklijke DSM, Covestro, Evonik Industries, Starch Medical, Victrex, W. L. Gore and Associate. Key Topics Covered: Polymer Biomaterial Market Segmentation Asia-Pacific Polymer Biomaterial Market

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AdvanSource Biomaterials Corporation Patents

AdvanSource Biomaterials Corporation has filed 2 patents.

The 3 most popular patent topics include:

  • Implants (medicine)
  • Medical equipment
  • Medical technology
patents chart

Application Date

Grant Date

Title

Related Topics

Status

6/8/2007

8/10/2010

Medical terminology, Polymers, Polymerization reactions, Polymer chemistry, Medical literature

Grant

00/00/0000

00/00/0000

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Application Date

6/8/2007

00/00/0000

Grant Date

8/10/2010

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Title

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Related Topics

Medical terminology, Polymers, Polymerization reactions, Polymer chemistry, Medical literature

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Status

Grant

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