Hydrogel Market

Hydrogel Market Size & Growth (2023-2028):

The Hydrogel Market is expected at USD 22.1 billion in 2022 and is anticipated to the extent over USD 31.4 billion by 2028. The Hydrogel Market is estimated to experience reasonable growth to record a CAGR of 6.1% throughout the estimated period (2023-2028)

The hydrogel market is expected to grow profitably over the forecast period, due to aspects such as hydrogel, which promotes recyclability, decreases environmental pollution, and ensures sustainability. Hydrogel is used in the pharmaceutical industry to extend the shelf life of medicines. This is one of the most important reasons for the expansion of the hydrogel market. Also, the hydrogel is used in the curing process. In normal healing processes, a hydrogel dressing hydrates the wound and helps repair the epidermis, removing extra dead tissue and granulation. A hydrogel contains huge amounts of water or biological fluids that are a three-dimensional network. It comes in natural, synthetic, and hybrid forms. Due to their ability to retain water, hydrogels are commonly used in treating wounds. Hydrogels are an effective treatment option for dry wounds such as burns and radiation damage. In gel form, hydrogel is a water-insoluble polymer that can retain approximately 95% of its weight in water. It is composed of sodium polyacrylate, polyvinyl alcohol, acrylate polymers, and other polymers.

Hydrogel Market Trends:

Hydrogels are also used in a variety of biological applications such as wound healing, bone regeneration, etc. due to their biocompatibility and similarity with the natural properties of tissues.

Hydrogel Market Drivers:

Increased knowledge of hydrogel formulations has led product-oriented R&D manufacturers to develop new hydrogel products, and the applications are expected to bring lucrative growth prospects to the market. 

Hydrogel Market Restraints:

However, the expansion of the hydrogels market is hampered by high manufacturing costs, lack of awareness among end-users, and inadequate response of hydrogels to the external environment. In addition, the difficulty of decoupling variables in drug administration is hampering the growth of the industry. Therefore, the market will be hampered by the high production costs and environmental risks associated with the degradation of synthetic hydrogels and thus will limit growth to some extent.

Opportunities in the Hydrogel Market:

The hygiene sector will be boosted by increased hygiene awareness and an aging population. As the hygiene and hydrogel markets merge, the hydrogel market will be influenced by increased demand for hygiene. The rise in the usage of hydrogels in contact lenses is greatly influencing the growth rate of the market. The hydrogel market is expected to grow due to its outstanding qualities such as the transparency and elasticity of hydrogel.

Challenges in the Hydrogel Market:

Strict government rules in accepting new product launches is a major challenging factor for the hydrogel market.

HYDROGEL MARKET REPORT COVERAGE

Hydrogel Market-Segmentation:

Hydrogel Market-Raw Material:

• Synthetic

• Natural

• Hybrid

In terms of the type of raw material, synthetic hydrogels had the largest market share in 2019. Synthetic hydrogels have a long shelf life, high water absorption capacity, and high frost resistance.

Hydrogel Market-Composition:

• Polyacrylate
• Polyacrylamide
• Silicone
• Others

The polyacrylates segment is expected to grow at the fastest rate. This expansion may be due to the water retention capacity of polyacrylate hydrogels, which increases their ease of use in hygiene and personal care applications.

Hydrogel Market-Shape:

• Amorphous hydrogels

• Semi-crystalline hydrogels

During the projected period, the semi-crystalline segment is gaining traction over the shares of the market. Semi-crystalline hydrogels are superabsorbent hydrogel polymers.

Hydrogel Market Regional Analysis:

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa 

North America is projected to be a significant share of the hydrogel market owing to the rising need for hydrogel in tissue engineering, biotechnology and medicine, agriculture, and other fields. High disposable income and technological advancements in developing countries such as India and China are expected to boost the hydrogel market during the forecast period. Germany, the United Kingdom, and Italy are the main players in the European hydrogel market. Furthermore, the GCC countries and Turkey are expected to see further market growth due to the increasing demand for hydrogel packaging and applications in the healthcare industry during the forecast period.

Impact of COVID-19 on the Hydrogel Market

The market was adversely affected by COVID-19 in 2020. The pandemic has caused a sharp drop in demand from various end-user industries. Additionally, lockdowns imposed around the world in response to the pandemic have led to plant closures and labor shortages.

Hydrogel Market Key Players:

The major players covered in the Hydrogel Market report are

• The Cooper Companies

• 3M

• B. Braun Melsungen

• Conva Tec

• Evonik Industries

• Johnson & Johnson

• Medtronic

• Derma Sciences

• DSM

• Coloplast.