Hydrogel Market Size to reach USD 38,150 Million by 2030
BEIJING, July 17, 2022 (GLOBE NEWSWIRE) — The Global Hydrogel Market size was accounted for USD 23,036 Million in 2021 and is estimated to reach USD 38,156 Million by 2030, with a CAGR of 6.1% from 2022 to 2030.
Hydrogels are hydrophilic 3D networks that can absorb large volumes of water or biological fluids, making them suitable choices for biosensors, tissue engineering, and drug delivery among others. Recently, extensive research has been conducted into the viability of using hydrogels in sectors such as tissue engineering, biosensors, medication delivery, hemostasis bandages and self-healing materials. Hydrogels have advantages over other forms of biomaterials in terms of tunable biodegradability, increased biocompatibility, porous structure, adequate mechanical strength, and so on. However, the application of hydrogels is still limited due to their brittle nature and low mechanical strength. As a result, innovative hydrogels with stronger and more stable characteristics are still desired and continue to be a key research category.
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|Market Size 2021||USD 23,036 Million|
|Market Forecast 2030||USD 38,156 Million|
|CAGR During 2022 – 2030||6.1||%|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Raw Material Type, By Composition, By Form, By Product, By End-Use, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Cardinal Health, Ashland Global Holdings Inc, Essity, B. Braun Holding GmbH & Co. KG, Medline Industries, Procyon Corporation, Paul Hartmann, The Cooper Companies, Inc, 3M Company, and Smith & Nephew.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Covid-19 Impact on the Global Hydrogel Industry
COVID-19 had a negative impact on the hydrogel market revenue in 2020. The epidemic has resulted in a significant drop in demand for a variety of end-user businesses. Furthermore, the global lockdown implemented in reaction to the pandemic has resulted in facility closures and workforce scarcity. In industries, the workforce began to decline and has seen a decrease in business activities in 2020. However, demand for the hydrogel industry is expected to increase beginning in 2021. The use of hydrogel products in the medical field kept this business afloat. As a result, despite the fact that the bulk of the hydrogel market share was badly impacted, the medical sector maintained market growth during the pandemic.
Global Hydrogel Industry Growth Factors
The rising application of hydrogels in a set of industries is an important hydrogel market trend that is creating a robust demand throughout the forecast timeframe 2022 – 2030. Because of their unique architectures and compatibility with a variety of operating conditions, hydrogels are used in a wide range of applications. Hydrogels’ flexibility allows them to be used in a variety of situations, and their biocompatibility broadens their applicability to the medical sciences.
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Hydrogels escalating utilization for drug delivery applications have kept the market growth lucrative for the past few years and this trend is continuing for the coming future. Hydrogels are effective drug delivery vehicles due to their compatibility with body tissue and capacity to keep embedded proteins in their native state. Recent studies of hydrogels in tissue engineering have also helped the industry to achieve popularity among medical researchers. Hydrogels are appealing for tissue engineering because their physical and biological properties can be adjusted to imitate tissues.
Additionally, their one more important application in contact lenses cannot be ignored. Among all the applications, the contact lenses segment occupied more than 30% of the hydrogel market share in 2021. Other significant applications of hydrogel comprise hygiene products and wound dressing. Hydrogels appear in various everyday products such as toothpaste, hair gel, diapers, cosmetics, etc. New research & development activities on hydrogel have created smart wound dressing application. With the help of microprocessors, biosensors, etc, smart wounds not only protect wounds but can respond to changes in skin temperature by releasing medication as needed.
Global Hydrogel Market Segmentation
The hydrogel market is divided into six categories: raw material type, composition, form, product, end-use, and geography. Based on raw material type, the market is split into natural, synthetic, and hybrid. Based on our analysis, the synthetic segment generated the maximum hydrogel market revenue in 2021.
By composition, the market is segregated into polyacrylate, silicone-modified hydrogels, polyacrylamide, and others (agar, polyvinyl pyrrolidone (PVP), polyethylene glycol (PEG), gelatin, and polyvinyl alcohol (PVA), and other polysaccharides). Out of these, the other composition segment held the major hydrogel market share in 2021.
Form segment is further categorized into amorphous, semi-crystalline, and crystalline. Semi-crystalline witnessed a noteworthy market share during the projected years from 2022 to 2030. The product type segment is further breakdown into amorphous gels, semicrystalline buttons, impregnated gauze, hydrogel sheets, and films & matrices. Among them, the films & matrices segment accumulated a considerable chunk of the hydrogel market. Furthermore, contact lenses, wound care, hygiene products, tissue engineering, drug delivery, and others (agriculture, research, and forensics) are the segregation of end-use segments. Contact lenses were a lucrative segment as compared to other applications from 2022 to 2030.
Hydrogel Market Regional Stance
North America, Latin America, Europe, Asia-Pacific, and the Middle East &Africa comprise the regional group. Among all the regions, Asia-Pacific region dominated the market with maximum shares. Factors supporting the Asia-Pacific hydrogel market share include increased use of hygiene products and increased manufacture of commercial hydrogel contact lenses. Furthermore, the North America region had the second-largest position in the global situation, due to the increasing usage of hydrogels in agriculture, healthcare, and biotechnology among other applications.
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Hydrogel Market Rivalry
The leading hydrogel companies presented in the report include Cardinal Health, Ashland Global Holdings Inc, Essity, B. Braun Holding GmbH & Co. KG, Medline Industries, Procyon Corporation, Paul Hartmann, The Cooper Companies, Inc, 3M Company, and Smith & Nephew.
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