The publisher predicts that the global market for hydrogel would observe a CAGR of 7.04% over the forecast period of 2019-2028.
The rising medical advancements and wound care management, increasing use of hydrogel in the cosmetic industry, and an increase in the consumption of personal care & hygiene products are predominant factors driving the market. Additionally, the increasing trend of & need for soft lenses, the surge in the aging population and rise in the cases of ulcers, obesity, and chronic conditions are responsible for generating opportunities in the global market.
However, high manufacturing cost, lack of awareness among end-users, and inadequate response of hydrogels to the external environment are restraining the hydrogel market's progress. Moreover, the difficulty in decoupling variables in drug delivery is challenging market advancement.
The global hydrogel market comprises the Asia-Pacific, North America, Europe, Latin America, and the Middle East and Africa.
The Asia-Pacific is likely to become the fastest-growing region in the global market over the forecast period. It is also expected to become the largest market globally, in this period. It has witnessed immense development owing to its rise in population and growth in per capita income. Sectors like healthcare, agriculture, and hygiene have grown promptly in countries such as Japan, India, and China. This has made the Asia-Pacific a key competitor in the global market.
Furthermore, the demand for hydrogel is mainly witnessed in developing countries, which is attributable to the growth in its medical industry. Besides, hydrogel is used to produce goods such as injury care products, diapers, and contact lenses, among others. All these factors are aiding the growth of the region's hydrogel market.
- Rising Medical Advancements and Wound Care Management
- Increasing Use of Hydrogel in Cosmetic Industry
- Increase in Consumption of Personal Care and Hygiene Products
- High Manufacturing Cost
- Poor Response of Hydrogels to External Environment
- Lack of Awareness Among End-Users
- Increasing Trend of and Need for Soft Lenses
- Surge in Aging Population and Increase in Cases of Ulcer, Obesity, and Chronic Conditions
- Difficulty to Decouple Variables in Drug Delivery
- Ashland Global Holdings Inc
- B Braun Holding GmbH & Co Kg
- Cardinal Health
- Medline Industries
- Paul Hartmann
- Procyon Corporation
- Smith & Nephew
- The Cooper Companies Inc
- 3M Company
- Johnson & Johnson Services
- Medtronic plc
- Dow Corning Corporation
- Momentive Performance Materials
- Derma Sciences
- Hoya Corporation
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