Hydrogel Market Size
| Study Period | 2018 - 2028 |
| Market Size (2023) | USD 21.62 Billion |
| Market Size (2028) | USD 30.46 Billion |
| CAGR (2023 - 2028) | 7.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Hydrogel Market Analysis
The Hydrogel Market size is expected to grow from USD 21.62 billion in 2023 to USD 30.46 billion by 2028, at a CAGR of 7.10% during the forecast period (2023-2028).
The COVID-19 pandemic harmed the hydrogel sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business has been recovering since 2021 and is expected to rise significantly in the coming years.
- Over the short term, the increasing application of hydrogel in the healthcare industry and the surge in adoption in the agriculture industry are expected to drive the market's growth.
- However, the high production cost of hydrogel is expected to hinder the market's growth.
- The emergence of a new application area for hydrogel and rising awareness and adoption of hydrogel in the biomedical and personal care sector will act as an opportunity for the market studied.
- The Asia-Pacific region dominated the global hydrogel market with a significant share, and it is expected to register the fastest CAGR during the forecast period.
Hydrogel Market Trends
This section covers the major market trends shaping the Hydrogel Market according to our research experts:
Personal Care and Hygiene Segment to Dominate the Market
- Hydrogel, due to its soft and tissue-like physical properties, water absorption, good oxygen permeability, superior biocompatibility, micro-porous structure for additional transport channels, and several other properties, is considered the perfect material to be used in hygiene products.
- The goal for hygiene products is to make thinner pads with higher absorbency under load, increased swelling pressure, and increased suction power. Hence, the use of hydrogel is the most suitable option, owing to its properties.
- According to the Statista market forecast, the market for feminine hygiene and baby diapers reached around USD 90 billion in 2021, witnessing a growth of around 6.3% compared to the previous year. Also, the market is estimated to reach USD 97.5 billion in 2022.
- Organizations, such as the World Health Organization, World Bank Group, and UNICEF, are raising awareness about the importance of hygiene, especially menstrual hygiene management (MHM) for women and adolescent girls.
- In India, the World Bank Group initiated a flagship sanitation operation under the Swachh Bharath Mission. With this operation, the awareness is increasing among the community, including boys and men, to break the taboo around menstruation.
- For instance, the US personal care products market was valued at USD 80,212 million in 2021, and it is expected to reach USD 99.5 million by 2026, which is expected to stimulate the demand for the hydrogel market in the country.
- Owing to all these factors, the personal care and hygiene products in the world may drive the demand for hydrogel during the forecast period.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global market share, owing to the growing personal care and hygiene, agriculture, pharmaceuticals, and healthcare sectors in different countries such as China, India, and Japan, of the region.
- In Asia-Pacific, China provides the major market for hydrogel consumption. China is one of the major consumers of personal hygiene products in the world. According to the Ministry of Finance of the People's Republic of China, total public expenditure on health care and hygiene in China amounted to about CNY 1.92 trillion in 2021.
- Also, China is the second-largest market for pharmaceuticals globally. The market for pharmaceuticals is emerging rapidly, and according to the National Bureau of Statistics of China, the sales of pharmaceuticals stood at CNY 531.53 billion in the first 10 months of 2021.
- India is the third-largest pharmaceutical in terms of volume and the 13th most significant in terms of value as it has a large raw material base and the availability of a skilled workforce. According to the India Brand Equity Foundation, India's pharmaceutical export stood at USD 24.44 billion in FY21.
- In India, the Ministry of Health and Family Welfare (MoHFW) received an allocation of INR 86,200.65 crore (Budget estimate – BE) for 2022-23, which is a mere 0.23% higher than the revised estimate of INR 86,000.65 crore in the Union Budget 2021-22. The current budget allocation is 6.82% higher than the actual spending of INR 80,693.92 crore for the financial year 2020-21.
- Agriculture is the major source of livelihood for approximately 58% of the population in India. According to the India Brand Equity Foundation (IBEF), the gross value added by agriculture (along with fishing and forestry) was USD 276.37 billion in the financial year 2020.
- Therefore, the aforementioned factors are expected to significantly impact the market in the coming years.
Hydrogel Industry Overview
The hydrogel market is fragmented, with a few players holding a considerable share in the market. The top five players accounted for about 30% share of the market. Some of the key players (not in any particular order) in the market include 3M, Johnson & Johnson Medical Limited, Cardinal Health, CooperVision, and Smith & Nephew.
Hydrogel Market Leaders
3M
Johnson & Johnson Medical Limited
Cardinal Health
CooperVision
Smith & Nephew
*Disclaimer: Major Players sorted in no particular order
Hydrogel Market News
- In August 2021, Seikagaku Corporation announced the launch of HyLink, an intra-articular single-injection viscosupplement for the treatment of knee osteoarthritis in Taiwan, through TCM Biotech International Corp. Since the highly viscoelastic hyaluronate hydrogel remains in the knee joint cavity for a long period of time, HyLink has expected a long-lasting improvement of symptoms by an administration of only 3 mL.
- In February 2021, Axonics Modulation Technologies Inc. announced the acquisition of Contura and its Bulkamid injection, an incontinence hydrogel injection to treat stress urinary incontinence, thereby enhancing the company's business and expanding its product portfolio.
Hydrogel Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Application in the Healthcare Industry
4.1.2 Other Drivers
4.2 Restraints
4.2.1 High Production Cost and Other Drawbacks
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Structure
5.1.1 Amorphous
5.1.2 Semi-crystalline
5.1.3 Crystalline
5.2 Material
5.2.1 Polyacrylate
5.2.2 Polyacrylamide
5.2.3 Silicone
5.2.4 Other Materials (Agar, Gelatin, PVP, and PEG)
5.3 End-user Industry
5.3.1 Personal Care and Hygiene
5.3.2 Pharmaceuticals and Healthcare
5.3.3 Food
5.3.4 Agriculture
5.3.5 Other End-user Industries (Forensics and Research)
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 Italy
5.4.3.4 France
5.4.3.5 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 3M
6.4.2 Ambu AS
6.4.3 Ashland
6.4.4 Axelgaard Manufacturing Co. Ltd
6.4.5 Axonics Modulation Technologies Inc.
6.4.6 Bausch Health Companies Inc.
6.4.7 Cardinal Health
6.4.8 Coloplast Corp.
6.4.9 ConvaTec Inc.
6.4.10 CooperVision
6.4.11 DSM
6.4.12 Essity Medical Solutions
6.4.13 HOYA Corporation
6.4.14 Integra LifeSciences Corporation
6.4.15 Johnson & Johnson Medical Limited
6.4.16 Medtronic
6.4.17 Mölnlycke Health Care AB
6.4.18 Novartis AG
6.4.19 PAUL HARTMANN Pty Ltd
6.4.20 Sekisui Kasei Co. Ltd
6.4.21 SEIKAGAKU CORPORATION
6.4.22 Smith & Nephew
6.4.23 The Cooper Companies Inc.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Emergence of New Application Areas
Hydrogel Industry Segmentation
Hydrogel is a three-dimensional network of hydrophilic polymers that can swell in water. It can be derived from synthetic polymers or natural polymers. Owing to the presence of hydrophilic groups such as -NH2, -COOH, -OH, -CONH2, - CONH -, and -SO3H, it is hydrophilic in nature. It finds its major application in the personal care and hygiene segment. The hydrogel market is segmented by structure, material, end-user industry, and geography. By structure, the market is segmented into Amorphous, Semi-crystalline, and Crystalline. By material, the market is segmented into Polyacrylate, Polyacrylamide, Silicone, and Other Materials. By end-user industry, the market is segmented into Personal Care and Hygiene, Pharmaceuticals and Healthcare, Food, Agriculture, and Other End-user Industries. The report also covers the market size and forecasts for the hydrogel market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of revenue (USD million).
| Structure | |
| Amorphous | |
| Semi-crystalline | |
| Crystalline |
| Material | |
| Polyacrylate | |
| Polyacrylamide | |
| Silicone | |
| Other Materials (Agar, Gelatin, PVP, and PEG) |
| End-user Industry | |
| Personal Care and Hygiene | |
| Pharmaceuticals and Healthcare | |
| Food | |
| Agriculture | |
| Other End-user Industries (Forensics and Research) |
| Geography | |||||||
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Hydrogel Market Research FAQs
How big is the Hydrogel Market?
The Hydrogel Market size is expected to reach USD 21.62 billion in 2023 and grow at a CAGR of 7.10% to reach USD 30.46 billion by 2028.
What is the current Hydrogel Market size?
In 2023, the Hydrogel Market size is expected to reach USD 21.62 billion.
Who are the key players in Hydrogel Market?
3M, Johnson & Johnson Medical Limited, Cardinal Health, CooperVision and Smith & Nephew are the major companies operating in the Hydrogel Market.
Which is the fastest growing region in Hydrogel Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2022-2028).
Which region has the biggest share in Hydrogel Market?
In 2022, the Asia Pacific accounts for the largest market share in Hydrogel Market.
Hydrogel Industry Report
Statistics for the 2023 Hydrogel market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hydrogel analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
