Hydrogel Market worth USD 34.47 billion by 2028, registering a CAGR of 7.15% – Report by Market Research Future (MRFR)
New York, Sept. 15, 2021 (GLOBE NEWSWIRE) — Hydrogel Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Hydrogel Market Information– by Type (Natural, Synthetic and Hybrid), by Composition (Polyacrylate, Polyacrylamide, Silicon), by Form (Amorphous, Semi Crystalline, Crystalline), by Application (Agriculture, Health Care and Hygiene, Contact Lenses, Drug Delivery Systems, Tissue Engineering and Others) – Forecast till 2028” the market is projected to be worth USD 34.47 billion by 2028, registering a CAGR of 7.15% during the forecast period (2021 – 2028)., The market was valued at USD 23.11 billion in 2021.
Market Competitive Landscape:
List of the key companies of the global hydrogel market are listed as follows:
- Cardinal Health (U.S.A)
- Dow Corning Corporation (U.S.A)
- H.B. Fuller Company (U.S.A)
- Axelgaard Manufacturing Co., Ltd. (U.S.A)
- Johnson & Johnson Private Limited (U.S.A)
- The Cooper Companies, Inc. (U.S.A)
- R&D Medical Products Inc (U.S.A)
- Alliqua BioMedical, Inc (U.S.A)
- B.S.N. medical (Germany), among others.
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Market Scope:
Hydrogel comprises a three-dimensional network structure with a hydrophilic structure that allows it to hold huge amounts of water. It’s made with polyvinyl alcohol, sodium polyacrylate, acrylate polymers, and a variety of other polymers. The major trends and elements driving the market significantly include viscoelastic, lubricious, multifunctional, and permeable characteristics. Due to these characteristics, it is employed in a variety of applications, including healthcare and hygiene, agriculture, contact lenses, tissue engineering, drug delivery, and others.
Market U.S.P. Covered:
Market Drivers:
The global hydrogel market is expected to grow commercially over the forecast period, thanks to factors such as hydrogel’s ability to improve recyclability, reduce environmental contamination, and provide sustainability. Innovations and growing hydrogel applications will boost the global market throughout the forecast period. Hydrogel is often used in the pharmaceutical industry to enhance the shelf life of medicines. In the pharmaceutical industry, evaporative cooling hydrogel packaging, which increases the storage stability of existing medicinal items, is becoming more popular. This is one of the major factors propelling the global hydrogel market forward.
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Market Restraints:
High manufacturing costs, a lack of understanding across end-users, and an inadequate reactivity of hydrogels to the external environment impede market expansion. Furthermore, the industry’s expansion is hampered by the difficulty of decoupling variables in medicine delivery. As a result, the market will be restricted by massive production costs and environmental dangers associated with synthetic hydrogel degradation, limiting market expansion to some extent.
COVID-19 Analysis:
The emergence of the COVID-19 pandemic has slowed market growth; nonetheless, the market is progressively gaining pace due to the uplifting of lockdowns.
Market Segmentation:
The segmentation of the global hydrogel market is done by composition, type, application, and form.
By composition, due to their rising use in tissue engineering and biomedical applications, the polyacrylate and polyacrylamide hydrogel segments are leading the market.
Synthetic hydrogels account for the bulk of the market by type, owing to their increasing use in biotechnology and medicine, drug delivery systems, and other applications.
By form, semi-crystalline hydrogels are the most commonly used across the globe.
By application, the healthcare and hygiene segment is the market’s dominant participant.
Regional Insights:
Due to the expanding need for hydrogel in agriculture, biotechnology and medicine, tissue engineering, and other fields. Because of increased production and consumption in nations such as the United States, Canada, and Mexico, the contact lenses category is expected to rise rapidly in the market. During the forecast period, 2017-2023, the tissue engineering segment is expected to develop faster than the rest of the market.
The Asia-Pacific region has experienced tremendous growth as a result of expanding population and per capita income. The synthetic hydrogel segment is expected to rise faster because of growing demands in health care and hygiene, agriculture, drug delivery systems, and other areas. As a result of these considerations, countries like China, Japan, and India are the region’s top players.
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Due to the rising need for personal and health care items such as baby diapers, sanitary napkins, and paper towels, Europe has seen substantial growth in the Hydrogel Market. These gels are commonly employed in these segments to provide human beings with a cooling effect and comfort. The hydrogel market is expected to increase faster over the projected period because of rising disposable income and advances in technology. As a result, Germany and the United Kingdom In this region, the dominant players are France and Italy.
The increased use of hydrogel in contact lenses, biotechnology and medicine, tissue engineering, and other applications is expected to drive market growth in the Latin American area. Furthermore, increased demand for hydrogel in biomedical applications, including tissue engineering, drug delivery systems, and wound dressings, is expected to drive market expansion in the Middle East and Africa.
Segmentation of Market covered in the research:
Hydrogel Market Information- by Type (Natural, Synthetic and Hybrid), by Composition (Polyacrylate, Polyacrylamide, Silicon), by Form (Amorphous, Semi Crystalline, Crystalline), by Application (Agriculture, Health Care and Hygiene, Contact Lenses, Drug Delivery Systems, Tissue Engineering and Others) – Forecast till 2028
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