North America to Dominate Hydrogel Market due to Growing Healthcare Sector
The global hydrogel market is profiled in depth in Market Research Future’s latest research study (MRFR). The study assesses the market’s primary competitive tactics, as well as a complete analysis of the market’s conditions and significant shareholders.
Hydrogel is a three-dimensional network structure that is known for its ability to hold large amounts of water. Due to this property, hydrogel is used in various applications, including agriculture, health and hygiene, and contact lenses. Hydrogel is mainly prepared using polyvinyl alcohol, sodium polyacrylate, and acrylate and other polymers. Growing demand for contact lenses is likely to be a major driver for the hydrogel market over the forecast period from 2030, according to MRFR. Contact lenses provide the convenience of spectacles without having to wear unbecoming glasses in public, due to which they are gaining widespread popularity around the world.
Growing demand for hydrogel in health and hygiene applications is also likely to be a major driver for the hydrogel market. Agriculture is also likely to remain an important application for the hydrogel market over the forecast period. Hydrogel is acquiring an important role in tissue engineering and other healthcare applications due to its favorable physical properties. This is likely to remain a key driver for the global hydrogel market over the forecast period.
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Competitive Analysis:
Leading players in the hydrogel market include BSN Medical, Axelgaard Manufacturing Co. Ltd., Alliqua BioMedical Inc., H.B. Fuller Company, R&D Medical Products Inc., Dow Corning Corporation, The Cooper Companies Inc., Cardinal Health, and Johnson & Johnson Pvt. Ltd.
Research projects aimed at expanding the applications of hydrogel are likely to remain popular among key players in the global hydrogel market over the forecast period. In May 2020, researchers in China and the U.S. developed a hydrogel that can siphon off excess heat generated in electronics and turn it into electricity, helping recharge the same electronics. Such inventive uses of hydrogel are likely to become important for the global hydrogel market over the forecast period.
Segmentation:
The global hydrogel market is segmented based on type, composition, form, application, and region.
By type, the global hydrogel market is segmented into natural, synthetic, and hybrid hydrogels. The synthetic segment holds the largest share in the global hydrogel market due to its growing demand in healthcare and agriculture applications.
By composition, the global hydrogel market is segmented into polyacrylate, polyacrylamide, and silicon hydrogel. The polyacrylate and polyacrylamide segments hold the dominant share in the global hydrogel market.
By form, the global hydrogel market is segmented into amorphous, crystalline, and semi-crystalline.
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By application, the global hydrogel market is segmented into agriculture, healthcare and hygiene, contact lenses, drug delivery systems, tissue engineering, and others. The healthcare and hygiene segment holds the largest share in the global hydrogel market.
Regional Analysis:
North America holds a dominant share in the global hydrogel market due to the presence of strong R&D channels in the region. Product development has become increasingly strong in North America due to the presence of several leading players. The growing healthcare sector in North America is also a key reason for the growth of the hydrogel market in the region, as this has expanded the applicability of hydrogels in the region. The growing demand for hydrogels in the healthcare and hygiene sector in North America is likely to remain a major driver for the global hydrogel market over the forecast period.
Asia Pacific has also emerged as a major player in the global hydrogel market in recent years and is likely to play a key role in the global market’s development in the coming years.
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