From GlobeNewswire: 2024-07-12 04:00:00

The global hydrogel market is expected to grow from USD 27.64 billion in 2023 to USD 50.90 billion by 2033, at a CAGR of 6.30%. Hydrogels are three-dimensional networks of hydrophilic polymers with high water content used in biomedical applications. The market is driven by increasing prevalence of chronic diseases, technical advancements, and growing environmental concerns for sustainable materials.

The synthetic hydrogels segment is expected to dominate the market due to their long useful life, high water absorption rate, and degradability. Polyacrylate hydrogels are projected to hold the highest market share, with the ability to absorb hundreds of times their dry weight in water. Semi-crystalline hydrogels are anticipated to have the greatest market share due to their superior mechanical properties.

North America is estimated to hold the largest share of the hydrogel market, driven by a strong healthcare infrastructure and demand for advanced medical technology. Asia Pacific is forecasted to have the highest CAGR growth due to rising healthcare expenses, chronic diseases, and technological developments. Key players in the market include Cardinal Health, Johnson & Johnson, and 3M.

In April 2024, UroGen Pharma Ltd received FDA approval for UGN-103, a new mitomycin-based formulation for bladder cancer. The hydrogel market is segmented by raw material type, composition, form, and region. Spherical Insights & Consulting provides market research and consulting services for businesses to achieve strategic improvements and meet their objectives. For more information on your target market, contact Spherical Insights.



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