Hydrogel Market is rise to a valuation of US$17,487.6 mn by 2024
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Players in the global hydrogel market are focusing more on acquisitions and strategic partnerships to consolidate their position, an example of which would be the acquisition of Jade Therapeutics Inc., a manufacturer of polymer based products via the cross-linked, bio-erodible hydrogel technology, by Eyegate Pharmaceuticals, Inc., a specialty pharmaceuticals company, in March 2017.
The global hydrogel market is expanding at a CAGR of 6.3% from 2017 to 2025, growing from US$10,084.9 mn in 2016 to US$17,487.6 mn by the end of 2024.
Hydrogel Usage in Personal Hygiene and Care Products Set to Saturate
Based on applications, the global hydrogel market earned a massive chunk in its overall revenue in 2016 from personal care and hygiene products – close to 60% of the market’s revenue for the year. Unfortunately, the demand for hydrogels in this application segment is expected to generate fewer new growth opportunities owing to market saturation, especially in developed economies. The segment will still endure and contribute the leading volume of revenue in the global hydrogel market over the forecast period. Regionally speaking, North America led the global hydrogel market with an overall share of 37.2% in terms of value, in 2016. The region’s demand for hydrogel in the region is primarily attributed to the increasing research activities in the medical and pharmaceutical industries.
High Birth Rates, Reducing Mortality Rates to Drive Hydrogel Demand in Healthcare and Pharmaceuticals
“The demand for hydrogels in the personal care and hygiene industry has already established itself as one of the key factors responsible for creating significant opportunities for the players in the global hydrogels market. Hydrogels are able to absorb as well as retain substantial volumes of fluids and aqueous solutions, while also being non-toxic to humans on touch. This makes most hydrogels highly feasible materials for use in products such as baby diapers and adult incontinence pads, thus forming another key factor indirectly responsible for the global hydrogel market’s growth. This is due to the currently rising birth rates across the world as well as the rising number of geriatrics in the world.
Rising per capita incomes and awareness regarding hygiene in emerging economies such as Asia Pacific is also a key factor fueling the global demand for hydrogels. In addition, the shift in demand from conventional hygiene-related products to environment-friendly ones are other factors creating a positive outlook for hydrogel market.
Increasing Expenditure on Healthcare and Personal Hygiene Creates High Value Opportunities
Hydrogels derived from sodium polyacrylate are commonly used in sanitary napkins, baby diapers, feminine hygiene products, adult incontinence products, and paper towels. The amount of expenditure on these products is showing a steep increase, especially in emerging economies from Asia Pacific and Latin America. Similar results are visible in polyacrylamide hydrogels, which are used to a large extent in tissue engineering, food packaging products, drug treatments, wrinkle filling, ophthalmic operations, water purification, as well as several personal products. The growth in these industries is therefore expected to create a significant scope of opportunities in the global hydrogels market.
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The information presented in this review is based on a Transparency Market Research report, titled, “Hydrogel Market (Structure – Amorphous, Semi-crystalline, Crystalline; Product – Polyacrylate, Polyacrylamide, and Silicone; Application – Personal Care and Hygiene, Pharmaceuticals, Food, Agriculture, and Healthcare) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”
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