Hydrogel is defined as a network of water-insoluble polymer chains that are utilized in the form of a gel in the healthcare and agriculture industries. It contains highly absorbent natural or synthetic polymers, and it has a hydrophilic structure. The hydrogel market is estimated to be USD 11.43 billion in 2017 and is projected to reach USD 15.33 billion by 2022, at a CAGR of 6.04% from 2017 to 2022. The rising demand for hydrogels in wound care application and increasing popularity of hydrogel contact lens are factors anticipated to drive the growth of the hydrogel market.
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The hydrogel market is led by major players in the healthcare and chemicals industries. Johnson & Johnson (US), Cardinal Health (US), The 3M Company (US), Coloplast (Denmark), B. Braun Melsungen (Germany), Smith & Nephew (UK), Derma Sciences (US), Royal DSM (Netherlands), Dow Corning Corporation (US), Paul Hartmann (Germany), Momentive Performance Materials (US), Ocular Therapeutix (US), ConvaTec (UK), Ashland (US), Evonik Industries (Germany), Cosmo Bio USA (US), MPM Medical (US), Molnlycke Health Care (Sweden), Hollister (US), Medline Industries (US), Gentell (US), and Alliqua Biomedical (US) are key players operating in the hydrogel market. These players have adopted various growth strategies to expand their global presence and increase their market share. Mergers & acquisitions, expansions, and new product launches are some of the major strategies adopted by leading players operating in the hydrogel market.
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The mergers & acquisitions strategy accounted for the largest share of 58% of all strategic developments in the hydrogel market in 2016. Companies such as Johnson & Johnson (US), Derma Sciences (US), and Momentive Performance Materials (US) adopted this strategy to expand their geographic reach, strengthen their product & service portfolios, and enhance growth prospects in the hydrogel market.
Johnson & Johnson (US) is a leading manufacturer and distributor of hydrogels and related products for the healthcare industry. In 2017, the company acquired Abbott Medical Optics (AMO), a wholly-owned subsidiary of Abbott. This acquisition strategy helped Johnson & Johnson expand its contact lens business and enhance its customer base in the hydrogel market.
Derma Sciences (US) is another key player in the hydrogel market. The company is engaged in the development, distribution, and sales of hydrogels and related products. In 2016, the company launched MEDIHONEY, a hydrogel-based wound care product, which is increasingly utilized in wound treatment. This development strategy helped the company offer improved products in wound care applications.
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Allied Market Research published a report, titled, “Hydrogel Market by Raw Material Type (Synthetic, Natural, and Hybrid Hydrogels), Composition (Polyacrylate, Polyacrylamide, Silicone-Modified Hydrogels, Agar-Based, and Others), Form (Amorphous Hydrogels and Semi-Crystalline Hydrogels), Product (Semi-Crystalline Buttons, Amorphous Gels, Impregnated Gauze, Films & Matrices, and Hydrogel Sheets), and End-User (Lenses, Hygiene Products, Wound Care, Drug Delivery, Tissue Engineering, and Others): Global Opportunity Analysis and Industry Forecast 2020–2027.”According to the report, the global hydrogel industry was estimated at $22.1 billion in 2019, and is anticipated to hit $31.4 billion by 2027, registering a CAGR of 6.7% from 2020 to 2027.Drivers, restraints, and opportunities-Wide range of applications and advantages over conventional products and increase in demand from the personal care & hygiene sector drive the growth of the global hydrogel market.
However, rise in Research & Development activities and high opportunities in the developing regions are expected to create multiple opportunities in the industry.Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/1399COVID-19 scenario-The outbreak of COVID-19 has impacted a number of industries badly.
However, the pharmaceutical industry has, quite naturally, managed to stay out of this loop.
Uninterrupted use of hydrogel to prolong drug shelf-life has not let the global market fall in terms of revenue.Still, disruptions in the manufacturing process have caused certain interferences in the trade.
This is attributed to its high water absorption ability and high gel strength.Get Detailed COVID-19 Impact Analysis on the Hydrogel Market: https://www.alliedmarketresearch.com/request-for-customization/1399?reqfor=covidThe semi-crystalline segment to maintain the dominant share-Based on form, the semi-crystalline segment accounted for nearly two-thirds of the global hydrogel market revenue in 2019, and is projected to rule the roost till 2027.
The fact that semi-crystalline hydrogels are superabsorbent drives the segment growth.Asia-Pacific, followed by North America, to dominate the market throughout 2027-Based on geography, Asia-Pacific, followed by North America, held the major share in 2019, generating more than one-third of the global hydrogel market.
