In 2022, it is projected that the global hydrogels market would be worth US$ 3.3 billion. Hydrogels are expected to be in high demand during the assessment period. This is because hydrogels are increasingly being used in a wide range of end-use sectors, generating US$ 6.7 billion in 2033 and registering a CAGR of 6.6% from 2023 to 2033. In 2023, the industry is anticipated to generate US$ 3.5 billion.
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Key Companies:
- 3M Company;
- Braun Melsungen AG;
- Cardinal Health, Inc.;
- Coloplast Group;
- Advanced Medical Solutions Group PLC
Key Factors Shaping the Demand Outlook of the Hydrogels Industry:
- Increasing application of hydrogels in the many end-use industries
- Widening application of hydrogels in the healthcare sector is expected to spur the growth
- Increasing awareness about the advantages of hydrogels elevates the demand
- Increasing popularity of hydrogel contact lenses
- Growing advances in technology are expected to create new growth prospects for hydrogels manufacturers
What Are the Key Challenges Faced by Hydrogels Market?
- High Costs Associated with The Production of Hydrogels May Restrain the Market Growth
- The high production cost may hamper the growth of the hydrogel market as production of the hydrogel by usinghigh-quality materials and sophisticated manufacturing processes is cost-consuming. The lack of awareness among many end-use industries and the easy availability of alternatives such as synthetic polymers and natural materials may also hamper the market growth.
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
