Hydrogel Market – Overview
Hydrogel is a hydrophilic network of polymer chains which are often found as colloidal gel. Hydrogel possess enhanced absorbent properties and can contain around 90% of water. The growing demand for hydrogel in baby care and personal hygiene products coupled with the growing use of contact lenses are the major factor driving the market. The advantages of hydrogel such as water retention efficiency, ease of use and time efficiency during wound closure and other medical procedures is also contributing to the market growth.
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The Global Hydrogel Market is segmented on the basis of type, composition, form, application and regions. On the basis of type the market is bifurcated into natural, synthetic and hybrid hydrogels. On the basis of composition the market is bifurcated into polyacrylate, polyacrylamide, and silicon hydrogel. On the basis of form the market is categorized into amorphous, crystalline and semi crystalline hydrogels, and on the basis of application the market is further differentiated into agriculture, healthcare and hygiene, contact lenses, drug delivery systems, tissue engineering, and others.
According to MRFR analysis, the global market of Hydrogel is a lucrative market and is expected to witness a considerable growth and develop at an encouraging CAGR during the forecast years. The growing demand of hydrogel from the personal care and agricultural industry is the major factor driving the global market. Hydrogel is highly demanded from the agricultural industry owing to its ability to promote robust growth in plants, improve soil permeability and reduce soil erosion among others. Moreover, the growing health awareness among the population throughout the globe coupled with the increasing demand for baby diapers, sanitary pads and contact lenses is also expected to add to the growth of the market. In addition to this, the growing application in wound care dressings, and treatment of necrotic wounds and burns are other factors surging the market growth.
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The Global Hydrogel is a lucrative market and is expected show an increasing CAGR during the forecast period. Johnson & Johnson Private Limited (U.S.A), Cardinal Health (U.S.A), The Cooper Companies, Inc. (U.S.A), Dow Corning Corporation (U.S.A), R&D Medical Products Inc (U.S.A) are some of the major players operating in the market. These players are adopting various key strategies of market growth. These key players are adopting innovation, product launch, merger and acquisition, collaboration, increased investment in research and development activities and other market survival techniques to cater to the large consumer base and strengthen their position in the market. The best long-term growth opportunities for this sector can be captured by ensuring ongoing process improvements and financial flexibility to invest in the optimal strategies.
North America is expected to be a dominant region in the market of hydrogel. The growing demand of hydrogel in agriculture, medicine, biotechnology, tissue engineering among others is driving the market growth. Moreover, the growing adoption of the product coupled with the increasing demand for contact lenses mainly in U.S. and Canada are other factors positively effecting the growth of the market.
Industry/ Innovation/ Related News:
27 June, 2016– The engineers of MIT has developed a new product, a hydrogel hybrid. This new product prevents the dehydration of hydrogels and helps in enhancing the durability of contact lenses, flexible bioelectronics and artificial skin among others. This new product is expected to surge the market demand during the forecast period.
17 October, 2017– Scientists from the Institute for Basic Science (IBS) has developed a hydrogel that has the ability to treat rheumatoid arthritis by the process of absorption of extra fluids and from the infected area and releasing drugs. This new development is set to augment the demand for hydrogels from the pharmaceutical industry.
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