SAN FRANCISCO, Aug. 11, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Hydrogels - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: May 2021
Executive Pool: 13911
Companies: 59 - Players covered include 3M Company; Alliqua BioMedical, Inc.; Ashland, Inc.; B. Braun Melsungen AG; BSN Medical GmbH; Cardinal Health, Inc.; Coloplast A/S; ConvaTec, Inc.; Cosmo Bio Co., Ltd.; Derma Sciences, Inc.; Evonik Industries AG; Gentell Corporation; Hollister, Inc.; Johnson & Johnson; Medline Industries, Inc.; Medtronic PLC; Molnlycke Health Care; Momentive Performance Materials, Inc.; MPM Medical LLC; Ocular Therapeutix, Inc.; Paul Hartmann AG; Procyon Corporation; Royal DSM NV; Smith & Nephew PLC and Others.
Coverage: All major geographies and key segments
Segments: Raw Material (Natural, Synthetic, and Hybrid); Composition (Polyacrylate, Polyacrylamide, Silicon, and Other Compositions); and Application (Agriculture, Healthcare & Hygiene, Contact Lenses, Drug Delivery, Tissue Engineering, and Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Hydrogels Market to Reach $14.7 Billion by 2024
Hydrogels are flexible materials predominantly made of water and mixed with compounds to form three-dimensional solid polymeric materials. The water-insoluble polymer is essentially a gel-like or colloidal substance that is capable of absorbing and retaining high water content of around 90% within its structure. Sodium polyacrylate, acrylate polymers, polyvinyl alcohol, and other co-polymers are the common ingredients present in hydrogel. Their specific structures, flexibility, and compatibility with different conditions of use facilitate their application in many fields and various processes ranging from medical to biological to industrial. Hydrogel can be found in many everyday products ranging from disposable nappies to plant-water crystals and soft contact lenses. Other application areas include scaffolds in tissue engineering, agriculture, dyes and heavy metal ions removal, and injectable hydrogel for spinal cord regeneration among others. New generation of hydrogels feature multi-layered and complex internal structures with controllable physical properties
Amid the COVID-19 crisis, the global market for Hydrogel is projected to reach US$14.7 Billion by 2024, registering a compounded annual growth rate (CAGR) of 5.0% over the analysis period. Europe represents the largest regional market for Hydrogel, accounting for an estimated 27.4% share of the global total. The market is projected to reach US$3.9 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 7.3% over the analysis period. Expanding application scope, rising demand for synthetic hydrogel, benefits over conventional substitutes, increasing demand in emerging economies, and growing R&D activities are the key drivers fuelling growth in the hydrogel market. Growing hygiene awareness, expanding infant and aging population in developing countries, and rising demand for feminine hygiene products is expected to augment consumption of hydrogel in hygiene sector. The high manufacturing cost of hydrogel and possibility of environmental issues faced in disposal of synthetic hydrogel are expected to restrain growth in the market.
Wound care is an emerging application area for hydrogel dressings as they accelerate the speed and success of wound healing. Hydrogel is added to traditional gauze or mesh materials to form hydrogel wound dressing. Hydrogel ensures that the wound bed remains moist enough, which prevents pain during dressing changes and promotes proper healing. They are increasingly used in treatment of necrotic wounds, dry wounds such as burns and radiation damage, partial or thick wounds, and autolytic debridement. Researchers continue to investigate new methods to use hydrogel for better wound care. Synthetic hydrogel is increasingly used in biomedical applications such as ophthalmology. Agriculture applications comprise a fast growing avenue for hydrogels, mainly driven by its ability to prevent soil erosion and hold moisture in arid areas, which enhances crop yield. Market for synthetic hydrogels is growing on the back of increasing demand in core applications including health care and hygiene, drug delivery systems, biotechnology processes and agriculture applications. Synthetic hydrogels made from different types of polymers including Biodegradable (such as synthetic peptides, degradable PEG, PPF-PEG, PHEMA-PCL), Non-Biodegradable (PVA, Pluronic® PEGDA, PNIPAm, PHEMA, PHPMA), and Bioactive (Growth factor-bearing, Enzyme-sensitive, Cell-adhesive) are experiencing growing use across various end-use verticals. Use of synthetic polymers is especially gaining traction in the manufacture of hydrogel tissue-engineered skeletons, as these polymers can be molecularly modified by mechanical strength, molecular weights, biodegradability and block structures. In the coming years, biodegradable and bioactive versions are expected to steer overall momentum in the overall synthetic hydrogels market, amid intensified demand for environmentally-sustainable products across end-use scenarios. More
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