Austin, Aug. 30, 2024 (GLOBE NEWSWIRE) -- According to SNS Insider Research, The Hydrogel Market Size was valued at USD 28.4 billion in 2023, and is expected to reach USD 50.0 billion by 2032, and grow at a CAGR of 6.5% over the forecast period 2024-2032.
Continuous innovation and diversified applications push hydrogel markets to a growth trajectory that is enormous in its capacity. It has also encouraged more R&D investment by companies in developing hydrogels with unique properties like biocompatibility, biodegradability, and environmental responsiveness. In April 2024, a breakthrough came when scientists from IISc designed a novel hydrogel capable of effectively removing microplastics from water. This innovation underlines the growth of hydrogel applications for environmental protection, particularly in regard to water pollution issues.
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Besides, the medical applications have undergone great development lately. The American Chemical Society reported on new hydrogel materials to help repair damaged tissues and even regenerate tissues that are expected to revolutionize wound care and surgical procedures. That also aligns with the general trend in drug delivery by means of hydrogel application for controlled release of therapeutic agents. Moreover, in 2024, a study introduced a hydrogel, which could keep medications literally weeks outside refrigeration and addressed major pharmaceutical storage and transportation challenges.
The increasing demand for hydrogels in personal care products such as contact lenses and wound dressings further shapes the market dynamics. Hydrophilic by nature, these products assure a high level of moisture; hence, they are comfortable and effective. The leading companies are also working on the application of hydrogel materials in agriculture, especially regarding soil moisture retention and slow-release fertilizers, which will be important for sustainable farming.
Hydrogel Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 28.4 Billion |
| Market Size by 2032 | US$ 50.0 Billion |
| CAGR | CAGR of 6.5% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | •By Product (Semi Crystalline Buttons, Amorphous Gels, Impregnated Gauze, Films & Matrices, Hydrogel Sheets) •By Raw Material (Natural, Synthetic, Hybrid) •By Composition (Polyacrylate, Polyacrylamide, Silicon, Agar, Others) •By Form (Amorphous, Crystalline, Semi-crystalline) •By Application (Wound Care, Contact Lens, Drug Delivery, Agriculture, Personal Care & Hygiene, Tissue Engineering, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| 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 key players |
| Key Drivers | • Rising Demand for Advanced Wound Care Solutions Boosts Hydrogel Market Growth • Increasing Use of Hydrogels in Drug Delivery Systems Drives Market Expansion |
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Segment Analysis
Semi-crystalline hydrogel dominated the Hydrogel Market in 2023, accounting for around 50%. The segment holds the leading market position because semi-crystalline hydrogels combine properties such as flexibility and transparency of amorphous with enhanced mechanical strength and thermal stability of crystalline forms. As examples, in medical applications such as wound dressing, semi-crystalline hydrogels show better moisture retention and structural integrity to make dressings for cases where a trade-off has to be made between softness and durability. In the case of drug delivery systems, semi-crystalline hydrogels provide medication with better opportunities for prolonged, controlled release-a requirement in most of these treatments. Application versatility and increased performance from semi-crystalline hydrogels substantially accounts for their leading position in the market.
Recent Developments
August 2024: UK scientists have created a hydrogel fridge-free storage system to preserve critical medications at room temperature, reducing reliance on refrigeration and expanding access to it in places lacking consistent cold storage facilities.
July 2024: Scientists have introduced a new injectable hydrogel that stimulates the growth of tissue repair for increased healing of damaged spinal tissue and can transform approaches to these injuries in regenerative medicine.
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Regional Analysis
North America dominated and accounted for revenue share of over 35% in the Hydrogel Market in 2023. This is due to excellent infrastructure in health care, vast investments in research and development, and headquarters of key companies that produce hydrogels. The US has been for some time now one of the forerunners in hydrogel innovation due to a variety of universities and research institutions in the country. For example, most of the recent advances in hydrogel-based tissue repair materials emanated from studies conducted in the U.S., which underlined the leading position of the region concerning medical applications. In addition, the North American market is endowed with a favorable regulatory regime that encourages companies to develop and market new hydrogel products, further bolstering its leading position in the market.
Key Takeaways:
- Key growth drivers are medical applications in wound care and in controlled drug delivery.
- New sustainable hydrogel materials are finding more and more environmental applications, such as in water purification.
- North America dominates owing to a strong R&D and a healthcare sector.
- Different market trends are becoming influenced by the growing demands of the biodegradable hydrogels.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Region, 2023
5.2 Feedstock Prices, by Country, by Region, 2023
5.3 Regulatory Impact, by Country, by Region, 2023
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Region, 2023
6. Competitive Landscape
7. Hydrogel Market Segmentation, by Product
8. Hydrogel Market Segmentation, by Raw Material
9. Hydrogel Market Segmentation, By Composition
10. Hydrogel Market Segmentation, By Form
11. Hydrogel Market Segmentation, By Application
12. Regional Analysis
13. Company Profiles
14. Use Cases and Best Practices
15. Conclusion
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