The new report by Expert Market Research titled, ‘Global Hydrogel Market Growth, Size, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global hydrogel market, assessing the market based on its segments like structures, materials, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 7%
The global market for hydrogel is being driven by its use in sanitary napkins, personal care products, hair gel, and disposable nappies. Hydrogels are used in biosensors to enhance compatibility, consequently aiding the industry growth. The development of smart hydrogels applicable in boosting the product performance is further invigorating the market growth.
North America is one of the dominant regions owing to the rising disposable income and the increasing use in the biomedical industry. Europe too is witnessing robust growth due to technological advancements and the increasing demand for disposable nappies for the rising geriatric population. Meanwhile, the Asia Pacific is expected to witness a swift growth due to the rising awareness about sanitation and the increasing use of makeup and international penetration in countries such as India, Japan, South Korea, and China, among others, consequently aiding the overall market growth for hydrogels.
Hydrogel Industry Definition and Major Segments
Hydrogels are cross-linked polymers that are usually hydrophilic. They can increase biocompatibility and tunable biodegradability and can be used as agents for filling vacant spaces and aids the cells in the formation of new tissues.
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The major structures of hydrogel are:
On the basis of the materials, the industry is segmented into:
Based on end uses, the market is divided into:
• Personal Care and Hygiene
• Pharmaceuticals and Healthcare
• Contact Lenses
The major regions of hydrogel are:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Hydrogel Market Trends
Due to the exponential rise in global population and rapid climate change, which has resulted in drought in many areas, the global hydrogel industry is being driven by a growing need for sustainable agriculture with high yields. Hydrogels increase both the water retention capacity and the yield while enhancing soil fertility.
The development of more advanced hydrogels can be attributed to the increasing research and development (R&D) activities, which is expected to increase the advantages of hydrogel to be used in the biomedical and engineering industry. Moreover, the surging coronavirus cases and the soaring efforts for efficient and safe vaccines, and the use of hydrogel in various research activities are further propelling the market growth. The increasing sanitisation activities during the pandemic is anticipated to augment the market growth in the forecast period.
Key Market Players
The major players in the market are Cardinal Health, Inc., 3M Co., Smith & Nephew, CooperVision, Inc., and Johnson & Johnson Services, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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