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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 23.6 Billion
• Forecast CAGR (2021-2026): 7%
• Forecast Market Size (2026): USD 35.5 Billion
Hydrogels are found in a range of products like disposable nappies, hair gel, plant water storage crystals, biosensors, contact lenses, etc. Hydrogels in biosensors help in creation of protective layers to control diffusion and are also used as stimuli-responsive material for enabling sensing. With biosensors themselves being on high demand due to their usefulness across various fields, the market for hydrogels will benefit expansion too. Hydrogels are also utilized in contact lenses for greater comfort, which is significant driver of the market as a massive proportion of the population uses contact lenses for vision correction purposes. The Asia Pacific region is witnessing rise in the disposable income and with it the increasing demand for hygiene and personal care products is expected to maintain a sound market for hydrogels. Along the same lines, Europe is also anticipated to display growth because of surging per capita income and technological advancements. North America uses hydrogels in several industries like agriculture, biotechnology, healthcare, among others, because of which it has a significant share in the overall hydrogel market.
Industry Definition and Major Segments
Hydrogel is a 3D structure of hydrophilic polymers which are held together because of either chemical or physical cross-linking of individual polymer chains and water constitutes at least 10% of the total volume. Due to their significant water content, they are highly flexible. Hydrogels find application in a wide range of areas from industrial to biological.
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Based on structure, the market is divided into:
Depending upon the material, the market is segmented into:
The end uses involved in the market are:
• Personal Care and Hygiene
• Pharmaceuticals and Healthcare
• Contact Lenses
The regions of the market include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Hydrogels are extremely benefitting in increasing the water retention capacity of soils which helps in greater net plant yield. In addition to it, hydrogels also enhance soil fertility. These properties make them a desirable choice in agricultural practices. With the population expanding a high rate and growing demand for high yield, the hydrogel market is expected to surge to increase to arable land. Moreover, the biodegradability of hydrogels makes it likeable as environmental concerns on the rise. Hydrogel-based vaccines are further increasing research is invigorating the market. Additionally, rising sanitation and personal hygiene consciousness due to the pandemic will boost the demand for such products and therefore, pushing hydrogels market towards a growing trajectory.
Key Market Players
The major players in the market are Cardinal Health, Inc., 3M Co., Smith & Nephew, CooperVision, Inc., Johnson & Johnson Services, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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