The global hydrogels market is projected to experience significant growth over the coming decade, with the market anticipated to reach a valuation of USD 3.3 billion in 2022 and forecasted to secure USD 6.7 billion by 2033. According to industry insights, the market is expected to record a CAGR of 6.6% from 2023 to 2033, driven by rising demand across multiple end-use sectors.
In 2023, the hydrogels market is poised to reach USD 3.5 billion, reflecting robust interest in these versatile materials. The surge in demand can be attributed to the increasing applications of hydrogels, particularly in agriculture and pharmaceuticals, as well as ongoing research and development efforts to enhance the properties and uses of hydrogels.
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Key Growth Drivers:
- Increased Applications in Agriculture: One of the primary growth drivers for hydrogels is their extensive use in the agriculture industry. Due to their ability to absorb and retain large quantities of water, hydrogels play a critical role in improving water management. By reducing water loss through evaporation and enhancing water availability to plants, hydrogels offer a sustainable solution for agricultural efficiency, particularly in water-scarce regions.
- Rising Demand for Biodegradable Solutions: Growing environmental concerns and the push towards sustainable solutions have increased demand for biodegradable hydrogels. These eco-friendly alternatives are gaining traction across various industries, particularly as companies and consumers seek to reduce their environmental footprint.
- Ongoing R&D in Pharmaceuticals: Hydrogels are also widely used in the pharmaceutical industry, where they contribute to extending the shelf life of drugs and improving drug delivery systems. Continued research and innovation in this field are expected to further expand the applications of hydrogels, driving future market growth.
Key Takeaways from this Market Study:
- From 2018 to 2022, the market demand expanded at a CAGR of 8.3%
- Based on raw materials, the natural segment accounts for a CAGR of 6.4%
- By composition, the polyacrylate segment is expected to expand at a CAGR of 6.2% during the forecast period
- North America to emerge as a promising market, capturing a CAGR of 6.5%
- Asia Pacific is an opportunistic market, expected to capture a CAGR of 6.3% during the forecast period.
“Growing technological innovation in healthcare, as well as the growing advances in the agriculture industry, is expected to drive the market in the forecast period. The increasing demand from the industrial sector globally is projected to play a vital role in strengthening the market,” – comments an analyst at FMI.
Key Players: Hydrogel Market
- 3M Company;
- B. Braun Melsungen AG;
- Cardinal Health, Inc.;
- Coloplast Group;
- Advanced Medical Solutions Group PLC
Some Notable Market Developments Are as Follows:
- In 2020, Johnson & Johnson announced the launch of a new hydrogel wound dressing called SILVERCEL™ Hydro-Alginate. The new hydrogel product is designed to provide antimicrobial protection and promote wound healing. Johnson & Johnson offers a range of hydrogel products for use in wound care, drug delivery, and other medical applications.
- In November 2020: Advanced Medical Solutions Group plc announces that it has acquired Raleigh Adhesive Coatings Limited, an independent wound care and bio-diagnostics coatings business. The Acquisition brings strong synergies with AMS’s finished product offering, with the opportunity to increase the efficiency of the Company’s wound care manufacturing operations and provide entry points into new customers and markets, cross-selling of products and services as well as an R&D pipeline of new projects in the medical space.
Key Segments Covered in the Hydrogels Industry Analysis
Hydrogels Market by Raw Material:
- Natural
- Synthetic
- Hybrid
Hydrogels Market by Composition:
- Polyacrylate
- Polyacrylamide
- Silicon
- Other
Hydrogels Market by Application:
- Agriculture
- Healthcare & Hygiene
- Contact Lenses
- Drug Delivery
- Tissue Engineering
- Others
Hydrogels Market by Region:
- North American Hydrogels Market
- Latin America Hydrogels Market
- Europe Hydrogels Market
- Asia Pacific Hydrogels Market
- Middle East and Africa Hydrogels Market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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