GLOBAL HYDROGEL MARKET (2024 - 2030)

The Hydrogel Market was valued at USD 3.8 Billion in 2023 and is projected to reach a market size of USD 6.10 Billion by the end of 2030. Over the outlook period of 2024-2030, the market is anticipated to grow at a rapid CAGR of 7%.

A hydrogel is a multipurpose substance composed of hydrophilic polymers arranged in a three-dimensional network structure and connected by cross-links. Numerous mechanical qualities endow it with great utility in biomedical applications. It is utilised in many technical applications because of its capacity to absorb and hold enormous amounts of water.

Key Market Insights:

The market for hydrogels is expanding as a result of growing investments in the agricultural sector, rising demand for sustainable biodegradable hydrogels, growing environmental concerns, and the requirement to lessen the environmental impact of hydrogel products. The hydrogels market is anticipated to increase during the forecast period due to rising demand from a variety of sectors and continuous research and development activities to enhance the hydrogels' uses and qualities. Pharmaceuticals employ hydrogels to prolong their shelf lives. Because silicon allows a large amount of oxygen to travel through it, silicon is utilized to make hydrogels, which are used in contact lenses. By the conclusion of the forecast period, the hydrogels market is expected to develop at a notable rate and reach a valuation of US$ 6.10 billion.

Products like hair gel, plant water storage crystals, and disposable diapers are examples of items that typically contain hydrogels.  In order to control diffusion and improve biocompatibility, hydrogels are also utilised in biosensors for immobilisation and the construction of protective layers. As stimuli-responsive materials that can facilitate sensing and improve performance, smart hydrogels are also employed. Hydrogels' market expansion is being aided by these uses. The popularity of contact lenses is rising dramatically because over half of people on the planet require some kind of vision correction. The market is growing because hydrogel is being used in contact lenses to provide increased comfort. Further driving the market's expansion is the rising need for personal hygiene and hygiene products.

Hydrogel Market Drivers:

Growing Demand for Hydrogels in the Agricultural Sector Will Fuel the Hydrogels Market's Growth.

Agricultural applications for hydrogels are quite common. Because hydrogels can absorb and hold a lot of water, they can increase plant water availability and decrease evaporation loss, both of which are detrimental to water management.

Moreover, hydrogels are used in soil stabilisation, erosion control, and enhancement of soil fertility and structure. Water management, crop protection, and soil conditioning are three applications of hydrogels. Growth in the hydrogel market within the agriculture sector is being driven by the desire to increase crop yields while lowering water use.

Market growth would be aided by increased use in hygiene and healthcare.

As a result of hydrogel's ability to provide moisture to wounds and promote epidermis repair, tissue proliferation, and the removal of excess dead tissue, hydrogel wound dressings are becoming more common, particularly for chronic wounds like diabetic ulcers. The biggest end-use market for hydrogels is still the healthcare sector.

The market for hydrogels is anticipated to develop as a result of rising healthcare costs, a rise in the prevalence of chronic wounds, and advancements in remote monitoring technology. The personal care business also uses hydrogels in cosmetics, skincare, and hair care products.

Hydrogel Market Restraints:

Rising Production Costs for Hydrogels Could Limit Market Expansion.

The Market Growth May Be Restricted by High Production Costs for Hydrogels. Due to the high cost of producing hydrogel through the use of premium materials and advanced manufacturing techniques, the market's expansion may be hampered by the high production costs. The simple availability of substitutes including synthetic polymers and natural resources, as well as the lack of awareness among many end-use sectors, could potentially impede the growth of the market.

HYDROGEL MARKET REPORT COVERAGE:

Market Segmentation: By Raw Material

• Natural Segment
• Synthetic
• Hybrid

The hydrogels market is divided into three segments based on the raw materials used: natural, synthetic, and hybrid. Over the projected period, the market is anticipated to be dominated by the natural segment. Throughout the projection period, the segment is expected to grow at the fastest CAGR of 6.4%.

Biocompatibility, biodegradability, and low toxicity are just a few benefits that natural hydrogels have over manufactured hydrogels. They are a desirable alternative for applications that care about the environment because they are also sustainable and renewable.

Market Segmentation: By Composition

• Polyacrylamide
• Polyacrylate
• Silicon
• Other segments

The market is divided into groups based on composition, including silicon, polyacrylamide, and polyacrylate. With a compound annual growth rate (CAGR) of 6.2%, the composition category among all these polyacrylate sectors is anticipated to grow the fastest during the projected period.

Up to several hundred times their dry weight in water can be absorbed by polyacrylate hydrogels. Their high water content makes them perfect for uses like diapers, contact lenses, and wound dressings where water absorption is crucial. Biomedical applications such as drug administration and tissue engineering can benefit from the non-toxic and biocompatible nature of polyacrylate hydrogels. Environmental research, agriculture, medicine, and other sectors have all discovered uses for the adaptable polymers known as polyacrylate hydrogels.

Market Segmentation: By Application

• Agriculture
• healthcare and Hygiene
• Contact lenses
• Drug Delivery
• Tissue Engineering

The growing use of hydrogels across many business verticals is driving the global hydrogels market. Throughout the projection period, there will be potential for market expansion due to an increase in application in the healthcare sector. Throughout the projected period, the market is anticipated to rise at a faster rate due to an increase in the number of occurrences of eye disorders and the growing preference for hydrogel contact lenses over glasses. During the projected period, new and significant prospects for market expansion are expected to arise from the development of hydrogel contact lenses that offer greater permeability to oxygen. The growth rate for the forecasted period is 7%. The rising number of burns, trauma cases, and auto accidents is predicted to fuel growth in the hydrogel dressings market. Hydrogel dressing demand is anticipated to rise throughout the projected period due to an increase in both acute and chronic wound situations. The growth rate over the forecasted period is 4.3%.

Market Segmentation: Regional Analysis

• North America
• Asia-Pacific
• South-America
• Middle East and Africa

North America is anticipated to command the majority of the global hydrogels market. Throughout the course of the forecast period, the market is projected to grow at a CAGR of 6.5% and reach a market value of US$ 1.3 billion. Hydrogels are most popularly sold in the United States. The need for hydrogels in a variety of applications, including wound care, medication administration, and hygiene goods, is what's driving the market's expansion in the area. The main drivers of market expansion in the region are the presence of world-class healthcare infrastructure and rising expenditure in research and development activities. From 2023 to 2033, China's hydrogels market is projected to grow at a compound annual growth rate of 6.3%. By the conclusion of the projected year, a rise of US$ 1.4 billion is anticipated in the market's value. It is anticipated that the market will expand due to the healthcare sector's explosive expansion in China as a result of rising industrialization and population increase. Market expansion is anticipated to be fuelled by rising expenditure in R&D and rising consumer demand for cutting-edge goods in the area. Some of the drivers propelling the expansion of the hydrogel market in China's healthcare industry include the expanding ageing population, rising healthcare costs, and the occurrence of chronic wounds. At a compound annual growth rate (CAGR) of 6.2%, hydrogel sales in the UK are anticipated to reach US$ 262.7 million in market value by the end of the forecast period. In the UK, the personal care and agricultural sectors are the next biggest end-users of hydrogels, after the healthcare sector. The United Kingdom's hydrogel market is expanding due to a number of causes, including an ageing population and a rising need for improved wound care solutions.

Hydrogel Market COVID-19 Impact Analysis:

The epidemic caused supply chains to break, production to stop, and a steep decline in demand for a number of end-user sectors worldwide. On the other hand, the market has been stimulated because of the growing demand for hydrogel for the diagnosis of SARS-CoV-2. Globally, the COVID-19 epidemic has affected nearly every industry and country's economic growth. Numerous commercial fields have been greatly impacted by the travel ban, lockdown, and other regulations that have been implemented. However, COVID-19 has had a favourable effect on the market for hydrogel-based drug delivery systems because hydrogel is needed for several vaccine clinical studies, which is driving the market's expansion. Hydrogel is also widely used by pharmaceutical companies to conduct clinical investigations and other types of research related to the development of new drugs. As a result, during the course of the projected period, the demand for hydrogel-based drug delivery systems has grown in the market, opening up new potential opportunities.

Latest Trends/ Developments:

The first bi-inert adhesive hydrogel delivery method, created by GelSena, also allows for regulated therapeutic delivery to speed wound closure and improve healing while preventing unintended inflammatory reactions.

NEMURI is a cutting-edge plant-based hydrogel technology created by Gel-e with the goal of accelerating wound healing. The FDA gave the business permission to use NEMURI in surgical procedures in 2020.

Evonik introduced VESTAKEEP i4 G, a novel hydrogel substance intended for use in medical equipment, in 2020. The new hydrogel product is biocompatible and has a high mechanical strength, which makes it appropriate for use in implantable medical devices. Leading the hydrogels market, Evonik provides a variety of hydrogel products for application in personal care, healthcare, and agriculture, among other industries.

Key Players:

Among the leading companies in the hydrogels market are Advanced Medical Solutions Group PLC, B. Braun Melsungen AG, Coloplast Group, Cardinal Health, Inc., and 3M Company. To increase their customer base, the major players in the hydrogels market are concentrating on increasing the productivity and quality of their products. Important parties are engaged in research and development to determine the optimal composition of the material to be utilized in manufacturing.