PORTLAND, Oregon, June 1, 2016 /PRNewswire/ --
A new report published by Allied Market Research titled, "World Hydrogel Market-Opportunities and Forecasts, 2015 - 2022," projects that the world hydrogel market would reach $27.2 billion by 2022, registering a CAGR of 6.3% from 2016 to 2022. The hydrogel contact lenses and hygiene products segments constitute about three-fourths share in the world hydrogel market and are expected to be maintain this trend during the forecast period.
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To know more about the report, visit the website at https://www.alliedmarketresearch.com/hydrogel-market
Success of super absorbent polymers in hygiene and wound care products, growing use of contact lenses and availability of numerous chemistries and formulations are the major factors driving the market growth. The use of hydrogels in wound care is anticipated to increase rapidly, owing to benefits such as convenience of use, water retention efficiency, and improved time efficiency during medical procedures and wound closure. Increasing awareness about the available hydrogel formulations have stimulated product-focused R&D investment to develop new hydrogel products, which is anticipated to drive the world hydrogel market during the forecast period. However, high costs associated with complex production process and potential environment hazards from disposable synthetic hydrogel products are the major restraining factors for the growth of world hydrogel market.
The polyacrylamide hydrogel segment is anticipated to grow rapidly during the forecast period on account of the increased adoption of disposable sanitary products in the market. Silicone-modified hydrogels (SiH) segment would continue to dominate the market as they are mainly used in the production of daily disposable soft contact lenses. However, there are ongoing research activities conducted by contact lens producers to develop alternative products, owing to the toxicity concerns associated with silicone-modified hydrogels, thus would experience slower growth rates. Impregnated gauze is projected to be the fastest growing product segment, owing to increased awareness about products and competitive pricing offered by key market players, such as 3M Company, as compared to that of traditional wound care products.
Key findings of the study:
Geographically, North America, led by the U.S., dominated the hydrogel market in 2015 and is projected to grow at a CAGR of 6.3% during the forecast period. Asia-Pacific is projected to grow at the highest CAGR of about 7% from 2016 to 2022, due to increasing adoption of hydrogel products for hygiene products, disposable soft contact lenses, and wound care products. The agriculture sector is forecast to be the most promising end user for hydrogel based on controlled release and water retention technologies.
View U.S Hydrogel Market Report at https://www.alliedmarketresearch.com/US-hydrogel-dressing-market
Ongoing research and development activities have been focused on the use of smart hydrogels (stimuli responsive) in drug delivery system, as injectable materials, in bone reconstruction, and on fast stimuli responsive hydrogels. In addition, numerous industry-focused tests have been conducted in order to develop hydrogels for novel applications such as water retention agents in the agriculture sector, as delivery vehicles for crop protection chemicals, in water purification, and as fire-fighting gels. The major market players profiled in this report include 3M Company, Smith & Nephew plc, ConvaTec Inc., Alliqua Biomedical, Inc., Johnson & Johnson, Procyon Corp, BSN Medical GmbH, HB Fuller Company, Altergon Italia, AMBU, and The Cooper Companies.
View all reports related to healthcare at https://www.alliedmarketresearch.com/life-sciences/Healthcare-market-report
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