Hydrogel Market is projected to be worth USD 34.47 billion by 2030, registering a CAGR of 7.15% during the forecast period (2021 - 2030). The market was valued at USD 23.11 billion in 2021.
Hydrogel Market Synopsis -
The global Hydrogel Market is profiled in great detail in the latest research report from Market Research Future (MRFR). The major competitive strategies in the market are assessed in the report, along with a detailed analysis of the market’s conditions and leading shareholders.
Hydrogel Market is a three-dimensional network structure that is known for its ability to hold large amounts of water. Due to this property, hydrogel is used in various applications, including agriculture, health and hygiene, and contact lenses. Hydrogel is mainly prepared using polyvinyl alcohol, sodium polyacrylate, and acrylate and other polymers. Growing demand for contact lenses is likely to be a major driver for the hydrogel market over the forecast period from 2021 to 2030, according to MRFR. Contact lenses provide the convenience of spectacles without having to wear unbecoming glasses in public, due to which they are gaining widespread popularity around the world. Maintenance of contact lenses is thus becoming an important aspect, due to which the demand for hydrogel is increasing. The growing prevalence of ophthalmological disorders around the world is thus likely to remain a major driver for the global hydrogel market over the forecast period.
Growing demand for hydrogel in health and hygiene applications is also likely to be a major driver for the hydrogel market. Agriculture is also likely to remain an important application for the hydrogel market over the forecast period. Hydrogel is acquiring an important role in tissue engineering and other healthcare applications due to its favorable physical properties. This is likely to remain a key driver for the global hydrogel market over the forecast period.
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Some of the prominent players operating in the Global Hydrogel Market are Johnson Johnson Private Limited (U.S.A), Cardinal Health (U.S.A), The Cooper Companies, Inc. (U.S.A), Dow Corning Corporation (U.S.A), RD Medical Products Inc (U.S.A), H.B. Fuller Company (U.S.A), Alliqua BioMedical, Inc (U.S.A), Axelgaard Manufacturing Co., Ltd.(U.S.A), BSN medical (Germany) among others.
Market Potential and Pitfalls :-
The hydrogel is lubricious, viscoelastic, and comprises permeable and multifunctional properties which are some of the top trends influencing the market growth to a large extent. As hydrogel possesses such features, it is extensively used in several applications like healthcare and hygiene, agriculture, drug delivery, contact lenses, tissue engineering, and others. The growing production of hydrogels in contact lenses, agriculture, personal hygiene, and healthcare products has contributed to its growth across the globe. The hygiene, as well as the healthcare sector, is likely to experience the highest growth rate due to the extensive consumption of perfumes, diapers, and others. Thereby triggering the demand for hydrogels across the globe. The surging awareness associated with the high availability of hydrogel formulations has further galvanized the investment of RD activities in order to develop new products. This is likely to act as a bellwether to the growth of the market globally. Hydrogels are extensively used in the personal care and hygiene industry due to its soft and tissue-like attributes, oxygen permeability, water absorption, superior biocompatibility, and microporous structure. The growing geriatric population, increasing awareness regarding hygiene, and surging demand for feminine hygiene items are estimated to foster the market growth across the globe.
On the contrary, the high cost associated with the complicated production process of hydrogel along with the environmental hazards caused due to the disposable synthetic hydrogel items is considered to curb the market growth in the coming years.
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Segment Study of Hydrogel Market :-
The hydrogel market is segmented on the basis of type, form, composition and application.
By type, hydrogel market is categorized as natural, synthetic and hybrid hydrogels. Synthetic hydrogel has been known to hold the largest market share due to the expansive application of the product in agriculture, biotechnology, drug delivery etc. As tissue engineering and nanotechnology industries expand, hybrid hydrogel market is also expected to register greater revenue share over the forecast period.
Composition-wise hydrogel market is segmented as polyacrylamide, polyacrylate and silicon hydrogel. Polyacrylamide and polyacrylate hydrogel markets are anticipated to hold a major share of the revenue as they find greater applications in tissue engineering and biomedicine.
By form, the hydrogel market is further divided into amorphous, crystalline and semi crystalline hydrogels.
According to application, hydrogel market is segmented into healthcare and hygiene, agriculture, contact lenses, tissue engineering, drug delivery systems and others. Healthcare and hygiene segment hold the leading share in the market.
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Hydrogel Market Market - Geographical Analysis
Asia Pacific region dominates the global largest Hydrogel Market share attributes to the rising demand for PVC materials that are extensively used across end-use industries. Additionally, the increasing production of lightweight and heavy-duty automotive parts led by the demand to increase fuel efficiency in commercial vehicles consumes a massive amount of EDC materials. Also, the raw material advantage in the region results in increased numbers of EDC production plants, attracting foreign investors.
Furthermore, the high adoption of advanced technologies in the region propels the growth of the market. The market demand is predicted to surge in various APAC countries such as Bangladesh, China, Vietnam, Japan, Thailand, Malaysia, South Korea, and India, on account of increasing per capita income and the continuous growth in the sales of passenger cars heavy-duty vehicles.
Europe stands second in the global Hydrogel Market. The growth in the market is predominantly driven by the growing automotive production sales and the huge investments in RD activities. Moreover, the rising expenditures in innovation, alongside the increasing purchasing power of demographics in the region, drive the growth of the market.
The demand for ethylene dichloride is anticipated to grow in countries like Poland, the Netherlands, Italy, Germany, Spain, the UK, France, and Russia. However, Germany and the UK have emerged as important consumer markets for EDC in the region.
The Hydrogel Market in North America is growing at a moderate CAGR. Factors such as the high consumption potential and rising production capacities in the region foster the market growth. Besides, the increasing economic growth rate in the region allows the market to hold a prominent position in the global EDC market. North American countries such as the US and Canada are among the major contributors to regional growth.
Hydrogel technology has made massive strides in the past few decades. Broadening research activities in developing hydrogels for innovative applications will make considerable contribution to the growth of the hydrogel market. For instance, researchers at the Wyss Institute for Biologically Inspired Engineering at Harvard University have developed an active adhesive dressing that can heal skin wound without leaving any scars. The adhesive uses a temperature-responsive hydrogel that speeds up wound healing is expected to find application in soft robotics and regenerative medicine.
March 26, 2019: A team of researchers from the Singapore University of Technology and Design has recently developed hydrogel for enhanced cell encapsulation and delivery. They have developed a thixogel made of 99% water and 1% of cellulose allowing for its transformation from solid to a fluid hydrogel when subjected to stress. It can convert back to a solid hydrogel within a minute.
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