Wilmington, Delaware , Oct. 07, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Hydrogel Market by Raw Material Type (Synthetic, Natural and Hybrid), Composition (Polyacrylate, Polyacrylamide, Silicone-modified hydrogels, Agar and Others), Form (Amorphous and Semicrystalline), Product (Semicrystalline buttons, Amorphous Gels, Impregnated Gauze, Films and Matrices and Hydrogel Sheets), and Application (Contact Lenses, Hygiene Products, Wound Care, Drug Delivery, Tissue Engineering and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the hydrogel market was valued at $23.4 billion in 2023, and is estimated to reach $45.7 billion by 2033, growing at a CAGR of 6.9% from 2024 to 2033.
Prime determinants of growth
The global hydrogel market is experiencing growth due to several factors such as rise in demand for hydrogels in the personal care and hygiene sector and the increasing use of hydrogels in drug delivery systems, tissue engineering, and wound healing applications. However, high production costs associated with hydrogel hinder market growth. Moreover, the rise in consumer awareness and the rise in demand for environmentally friendly products present opportunities for the hydrogel market.
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Report coverage and details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $23.4 billion |
| Market Size in 2033 | $45.7 billion |
| CAGR | 6.9% |
| No. of Pages in Report | 300 |
| Segments Covered | Raw Material, Composition, Form, Product, Application, and Region. |
| Drivers | Rise in demand in personal care and hygiene products Increase in demand in medical and healthcare applications |
| Opportunity | Agriculture and environmental applications |
| Restraint | Limited biodegradability and environmental concerns |
Synthetic segment to maintain its dominance by 2033
By raw material, the synthetic segment held the highest market share in 2023 and is likely to retain its dominance during the forecast period. Rise in demand for synthetic raw materials in the hydrogel market is driven by their superior properties, such as high absorbency, durability, and customizable functionality. These materials offer consistent quality and performance, essential for applications in medical devices, personal care products, and agriculture. In addition, advancements in polymer chemistry enable the development of innovative hydrogel formulations, meeting specific industry requirements. The scalability and cost-effectiveness of synthetic raw materials further boost their preference over natural alternatives in the expanding hydrogel market.
Others segment to maintain its dominance by 2033
Based on composition, the others segment held the highest market share in 2023 and is estimated to dominate during the forecast period. The demand for polyethylene glycol (PEG), polyvinyl pyrrolidone (PVP), polyvinyl alcohol (PVA), and gelatin in the hydrogel market is increasing due to their versatile properties. These materials enhance hydrogel performance through improved biocompatibility, water solubility, and mechanical strength. Their use in medical, pharmaceutical, and personal care products, such as wound dressings, drug delivery systems, and hygiene items, is expanding. In addition, their role in developing environmentally friendly and biodegradable hydrogels is further driving adoption in various applications.
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Semicrystalline segment to maintain its dominance by 2033
Based on form, the semicrystalline segment held the highest market share in 2023 and is estimated to dominate during the forecast period. Increase in demand for the semicrystalline form in the hydrogel market is driven by its superior mechanical properties, thermal stability, and controlled swelling behavior. These attributes make semicrystalline hydrogels ideal for applications requiring durability and precision, such as in medical devices, drug delivery systems, and tissue engineering. In addition, their enhanced structural integrity and responsiveness to environmental stimuli cater to advanced technological and biomedical applications, further boosting their popularity in the market.
Films and Matrices segment to maintain its dominance by 2033
Based on product, the films and matrices segment held the highest market share in 2023 and is estimated to dominate during the forecast period. Rise in demand for films and matrices in the hydrogel market is driven by their extensive applications in the medical and pharmaceutical sectors. These hydrogel products offer excellent wound-healing capabilities, controlled drug delivery, and biocompatibility. In addition, their use in transdermal patches and tissue engineering scaffolds is expanding due to advancements in biomedical research. The growing focus on minimally invasive treatments and the development of advanced therapies further boost their demand, making films and matrices integral to modern healthcare solutions.
Contact lenses segment to maintain its dominance by 2033
Based on application, the contact lenses segment held the highest market share in 2023 and is estimated to dominate the market during the forecast period. Rise in demand for contact lenses is boosting the hydrogel market due to several factors. Hydrogels provide superior comfort and hydration, essential for extended wear, making them ideal for contact lens production. Advances in hydrogel technology enhance oxygen permeability and durability, meeting consumer preferences for high-performance lenses. In addition, the growing prevalence of vision correction needs, and aesthetic use of colored contact lenses further drive demand, positioning hydrogels as a key material in the expanding contact lens market.
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Asia-Pacific is expected to experience the fastest growth during the forecast period.
Based on region, Asia-Pacific was the fastest-growing region in terms of revenue in 2023. Increase in demand for hydrogels in the Asia-Pacific region can be attributed to several factors. The growing population and urbanization are driving the demand for personal care products, where hydrogels are extensively used in items such as diapers and sanitary napkins. In addition, advancements in healthcare infrastructure and rise in disposable incomes are boosting the adoption of hydrogel-based medical devices and wound care products. Furthermore, the expanding agricultural sector is fueling demand for hydrogels in soil moisture retention and crop protection applications.
Leading Market Players: -
- 3M Company
- Procyon Corporation
- Essity Aktiebolag AB
- PAUL HARTMANN AG
- Ashland Global Holdings Inc
- Medline Industries, Inc.
- Smith & Nephew plc
- The Cooper Companies, Inc.
- B. Braun Holding GmbH & Co. KG
- Cardinal Health, Inc
The report provides a detailed analysis of these key players in the global hydrogel market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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