Hydrogel Market Growth, Share, Demand and Analysis of Key Players to 2024
The
global hydrogel market holds a highly concentrated player base in its
competitive landscape, including a handful of manufacturers,
according to Transparency Market Research. The five leading entities
in the global hydrogel market accounted for a massive 47% of the
overall market in 2016, observes TMR in its recently published
research report. The increasing demand for hydrogel across a number
of applications has pushed players to increase their manufacturing
capacities. Companies are increasingly converging upon expanding
their worldwide manufacturing and distribution networks by investing
in new facilities, conducting aggressing mergers and acquisitions,
and the growing production capacity of their current facilities.
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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.
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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.
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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.
Global
Hydrogel Market Report is available at US$ 5795 -
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