A recent report published by Infinium Global Research on the hydrogel market provides an in-depth analysis of segments and sub-segments in the global and regional hydrogel market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional hydrogel market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global hydrogel market. According to the report, the global hydrogel market is projected to grow at a CAGR of about 6% over the forecast period of 2022-2028.
The revenue generated by the global hydrogel market was over USD 25 billion in 2022 and is expected to reach more than USD 35 billion in 2028 and is expected to grow with a CAGR of about 6%. Due to the chemical or physical cross-linking of individual polymer chains, a hydrogel is a three-dimensional (3D) network of hydrophilic polymers that can swell in water and hold a lot of water while keeping the structure. There are several applications for hydrogels. This is because of their unique architectures and suitability for various usage scenarios. Because of their water content and flexibility, hydrogels can be used in a variety of environments, from industrial to biological, and their applications in the medical field are furthered by the biocompatibility of the materials used in their production as well as the chemical behavior of these environments, which can be non-toxic.
The distinctive properties of a hydrogel such as biocompatibility, hydrophilicity, biodegradability, viscoelasticity, fluffiness, absorbency, and softness make it favorable for use in many applications across industries. Its distinctive properties have made it favorable for use in a variety of biomedical applications. Furthermore, the growing applications of the hydrogel are driving the growth of the market. The pharmaceutical industry has been one of the prominent users of hydrogel, they have found applications in drug delivery, wound care, tissue engineering, and others. With growing research on hydrogel products, new applications are expected to emerge in the near future. The only restraining factor the market faces is the limited awareness about hydrogels among the end users. Though its applications are growing, still the speed of growth is low. New opportunities are expected to arise as investments in the R&D of new innovative hydrogel products.
The covid-19 pandemic had a disastrous impact on the world economy with many industries suffering heavy losses. The businesses had to be shut down in the wake of the rapidly spreading covid-19 virus. The covid-19 pandemic had mixed effects on the hydrogel market. The demand for hydrogel increased in the pharmaceutical sector as research on covid-19 vaccines using injectable hydrogel was conducted. The demand from other sectors such as microwaves dropped drastically as electronics manufacturing took a severe dip. This was majorly due to the implementation of lockdowns by the countries with impounding social distancing norms. With the residence of the covid-19 pandemic, the short-term negative effects of the pandemic on the market are fading away.
The North American, Asia-Pacific, European, and Rest of the World regions make up the segments of the global market for hydrogel. Asia-Pacific is anticipated to dominate the market in terms of revenue. Developing countries such as China and India are one of the largest consumers of personal and hygiene products. Thus, the personal and hygiene products industry is well established in the Asia-pacific region. The use of hydrogels in personal and hygiene products is growing rapidly in the region which has been the major driver of the market in Asia-Pacific. Also, a country such as India is known as the pharmacy of the world which has a well-established pharmaceutical industry and has also seen growing use of hydrogel in a variety of pharmaceuticals.
The report on the global hydrogel market covers segments such as form, raw material, composition, and applications. On the basis of form, the sub-markets include amorphous, crystalline, and semi-crystalline. On the basis of raw material, the sub-markets include natural, synthetic, and hybrid. On the basis of composition, the sub-markets include polyacrylate, polyacrylamide, silicone, and others. On the basis of applications, the sub-markets include wound care, contact lenses, personal care and hygiene, drug delivery, tissue engineering, and others.
The report provides profiles of the companies in the market such as Ashland Global Holdings Inc., AMBU AS, Axelgaard Manufacturing Co. Ltd, ConvaTec Inc., R&D Medical Products, KATECHO, LLC, Cardinal Health, Inc., Merck KGa, Polychem UV/EB International Corp., and Scapa Group Ltd.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the hydrogel market. Moreover, the study highlights current market trends and provides forecast from 2022-2028. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.
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