Hydrogel Market to hit USD 22.8 billion by 2032, says Global Market Insights Inc.

Hydrogel Industry is projected to witness a CAGR of 6.5% during the period 2023-2032. This growth can be attributed to the expanding applications in drug delivery systems.

Selbyville, Delaware, Aug. 15, 2023 (GLOBE NEWSWIRE) --

Hydrogel Market size is estimated to be worth USD 22.8 billion by 2032. The demand for hydrogel is likely to witness significant expansion, primarily driven by the expanding application in drug delivery systems. Hydrogels are biocompatible and versatile materials that can encapsulate and deliver drugs in a controlled manner.

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They offer several advantages, such as sustained release, targeted delivery, and improved therapeutic efficacy. The rising demand for personalized medicine and the optimum need for efficient drug delivery systems has propelled the significant adoption of hydrogels in the pharmaceutical industry. Additionally, the ongoing R&D efforts focused on enhancing the properties and functionalities of hydrogels.

Natural hydrogels to witness high demand

the natural hydrogel market share is poised to witness tremendous traction through 2032. The use of natural raw materials, such as polysaccharides derived from plants or animals, has gained prominence due to their biocompatibility, biodegradability, and sustainability. To that end, the need for natural hydrogels is profoundly rising as they are extensively used in wound healing, drug delivery, tissue engineering, and cosmetic formulations. The increasing demand for natural and eco-friendly products coupled with the growing regulatory support for sustainable materials.

Crystalline Hydrogels to record substantial gains

The crystalline segment held considerable revenue share of the hydrogel market in 2022. The progression can be attributed to the growing usage of crystalline hydrogel in various applications, including drug delivery, tissue engineering, and biosensors. The increasing demand for advanced drug delivery systems, the high need for precise control over release rates and the growing interest in regenerative medicine will also fuel the adoption of crystalline hydrogels.

Increasing application scope in hygiene products

Hydrogel market size from the hygiene products application segment is estimated to amass substantial revenue by the end of 2032. Hydrogels offer unique properties that make them suitable in various hygiene products, including diapers, adult incontinence products, feminine hygiene products, and wound dressings. The increasing focus on personal care and hygiene coupled with the rising demand for innovative and effective hygiene products.

Asia pacific to emerge as a lucrative market destination

Asia Pacific held sizable share of the global hydrogel market in 2022. The regional market expansion can be attributed to the increasing population, rising disposable incomes, and the growing awareness about personal hygiene and healthcare. Several countries, including China, India, and Japan are witnessing surging demand for hydrogel-based products in various industries, including healthcare, personal care, agriculture, and packaging.

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Hydrogel Market Leaders

Some of the leading players operating in the global hydrogel industry include Convatec Inc., Integra LifeSciences Corporation, Smith & Nephew, and Johnson & Johnson, among others.

Hydrogel Market News

  • In April 2023, Johnson & Johnson Vision developed a ground-breaking soft therapeutic lens by deploying RingBoostTM technology that is specially made for slowing the progression of myopia in young children.

Partial Table of Contents (ToC) of the report:

Chapter 3   Hydrogel Industry Insights

3.1    Industry ecosystem analysis

3.2    Industry impact forces

3.2.1    Growth drivers   Increasing prevalence of chronic wounds and ulcers   Growing aging population   Expanding applications in drug delivery systems

3.2.2    Industry pitfalls & challenges   High development and manufacturing costs   Stringent regulatory requirements

3.3    Growth potential analysis

3.3.1    By raw material type

3.3.2    By composition

3.3.3    By form

3.3.4    By application

3.3.5    By route of administration

3.4    COVID- 19 impact analysis

3.5    Regulatory landscape

3.6    Injectable hydrogels for musculoskeletal therapy

3.6.1    List of injectable hydrogel products for treatments of musculoskeletal indications

3.7    Crosslinking landscape

3.7.1    Difference between physical and chemical gel

3.8    Porter's analysis

3.9    PESTEL analysis

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About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.