Pune, May 09, 2023 (GLOBE NEWSWIRE) -- According to SNS Insider, “The Hydrogel Market attained a value of USD 26.68 billion in 2022 and is projected to achieve USD 44.17 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2023 to 2030”.
Market Report Scope
Hydrogels are a type of gel-like material made up of water and a polymer network. They have the ability to absorb and retain water, making them suitable for a wide range of applications, from biomedical devices and drug delivery systems to agriculture and personal care products. Hydrogels can be designed to respond to changes in their environment, such as temperature, pH, or the presence of specific molecules, making them highly versatile and customizable.
Market Analysis
Hydrogels are a class of materials that have gained increasing popularity in recent years due to their unique properties and wide range of applications in various industries. The global hydrogel market has seen significant growth in recent years, and the Asia-Pacific region is currently dominating the market. One of the key factors driving the growth of the market is the increasing demand for hydrogels in the healthcare sector. Hydrogels are widely used in wound dressings, drug delivery systems, and tissue engineering applications, and the rapidly expanding healthcare sector in the region is driving the demand for these products.
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Impact of Recession
The hydrogel market, like many other industries, can be affected by economic recessions. During times of economic downturn, consumer spending tends to decrease, resulting in reduced demand for products across many sectors. However, the impact of a recession on the market can vary depending on the specific application or industry. For example, the demand for hydrogels in the healthcare industry is likely to remain strong even during an economic downturn, as the need for medical devices, drug delivery systems, and wound dressings does not decrease.
Key Regional Development
The hydrogel market has been experiencing significant growth in the Asia-Pacific region, with countries like China, India, and Japan driving this trend. The rising demand for hydrogels in personal care and hygiene, agriculture, pharmaceuticals, and healthcare sectors has been a key factor in this development. The use of hydrogels has been on the rise in the personal care and hygiene sector, where they are used in products like diapers, sanitary napkins, and wound care products. These hydrogels provide superior absorbency and retention capabilities, which have made them a popular choice among consumers.
Key Takeaway from Hydrogel Market Study
- Hydrogels have become increasingly popular in recent years due to their wide range of applications in various industries. One of the most significant factors in the success of hydrogels is the use of polyacrylate segments, which have proven to be highly effective in this field.
- The polyacrylate segment is poised to become the leading player in the market. Hydrogels are versatile materials that can absorb large amounts of water while maintaining their structure, making them useful in a wide range of applications, from wound dressings to contact lenses.
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Recent Developments Related to Hydrogel Market
- SolasCure, a leading provider of hydrogel solutions, has announced a significant financing round aimed at accelerating the company's growth and expansion in the market. The financing round is expected to provide the company with the necessary resources to continue developing innovative hydrogel products and technologies.
- Surge, a biotechnology company specializing in the development of hydrogel-based therapies for cancer treatment, has announced a successful funding round that raised $26 million. This investment will be used to advance the company's lead product, a novel anti-cancer hydrogel, into clinical trials.
Hydrogel Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 26.68 Billion |
| Market Size by 2030 | US$ 44.17 Billion |
| CAGR | CAGR of 6.5% From 2023 to 2030 |
| Key Segments | • By Raw Material Type (Natural, Synthetic, Hybrid) • By Composition (Polyacrylate, Polyacrylamide, Silicon, Others) • By Form (Amorphous, Crystalline, Semi-crystalline) • By Application (Wound Care, Contact Lens, Drug Delivery, Agriculture, Personal Care & Hygiene, Others) |
| Company Profiles | Ashland Global Holdings Inc, Cardinal Health, Essity, Inc, 3M Company, B. Braun Holding GmbH & Co. KG, Medline Industries, Paul Hartmann, Procyon Corporation, Smith & Nephew, The Cooper Companies, and other players. |
| Market Driver | • The demand from the microwave industry. • The prevalence of hydrogen. • Increasing Demand for Medical Industries. |
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