Macromolecule Hydrogel Market Size, Share, Growth, and Industry Growth by Type (Natural Macromolecule Hydrogel and Synthetic Macromolecule Hydrogel) By Application (Silicone Hydrogel Contact Lenses, Hydrogel Wound Care, Hydrogel Implants, Consumer Goods, and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Macromolecule Hydrogel Market REPORT OVERVIEW

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The global macromolecule hydrogel market size was USD 509 million in 2022 and market is projected to touch USD 681.8 million by 2031, exhibiting a compound annual growth rate (CAGR) of 3.3% during the forecast period.

Macromolecule hydrogel is a colloidal substance made of solids and water. The product is exceptionally absorbent (which contains over 90%), synthetic or natural networks. It is extensively used in consumer goods, medical fields, and industrial fields.

The macromolecule hydrogel market is expected to grow because the product can absorb small to large drug molecules such as NSAID (Non-Steroid Anti-inflammatory Drugs). Increased demand for bio-degradable and bio-compatibility properties and a controlled-release mechanism are predicted to fuel market growth. The product gained popularity for its high water content, flexibility, softness, and biocompatibility. Such product advantages and massive demand for the product in making contact lenses are anticipated to surge market growth. The product is also used in manufacturing hygiene products and wet wipes. These factors are expected to fuel market growth in the forthcoming years. On the contrary, the product's lack of biocompatibility with some polymers is estimated to hamper market growth over the forecast time. High manufacturing costs and the presence of low-quality alternatives obstruct market progress.

COVID-19 Impact: Closure of Manufacturing Units and Lower Demand for the Product to Hamper Market Growth

The sudden outbreak of Coronavirus in 2020 affected market growth due to the closure of manufacturing units. Lower demand for contact lenses among the population to reduced economic rate. Lack of production activities due to the unavailability of a team member to reduce market progress.

LATEST TRENDS

"Increased demand for the product in the Healthcare Sector to Drive Market Progress"

Increasing demand for the product in the healthcare sector and the considerable need to manufacture medical products is predicted to drive market growth. The product has several unique properties, such as softness, high water content, and biocompatibility. These advantages of the product are anticipated to surge market growth. The product is extensively used in the pharmaceutical sector for its cooling properties. It helps to improve the storage stability of existing pharmaceuticals business. Also, an increasing trend for pharmaceuticals business coupled with the product is used in the cutting process. These factors are anticipated to surge market growth. In addition, increased awareness about the benefits of the product coupled with increased R&D activities to develop new products is predicted to expand market growth.

Macromolecule Hydrogel Market SEGMENTATION

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• By Type

Based on type, the market is divided into natural macromolecule hydrogel and synthetic macromolecule hydrogel.

Natural macromolecule hydrogel is expected to be the leading part of the segmentation type.

• By Application

Based on the application, the market is divided into hydrogel wound care, silicone hydrogel contact lenses hydrogel implants, consumer goods, and others.

Silicone hydrogel contact lenses are expected to be the leading part of application segmentation.

DRIVING FACTORS

"Increasing Use of the Product in Contact Lens Manufacturing to Accelerate Market Growth  "

Growing demand for hydrogel in manufacturing contact lenses and a high need for contact lenses among the population are anticipated to foster market growth. The contact lenses are available in different sizes and powers. Further, contact lenses enhance the natural look and are a better replacement for specs. The growing need for colored contact lenses for beauty is projected to fuel market growth. The lenses have several advantages, such as light wear, clear vision, and UV protection, and are suitable for sportswear. These properties of contact lenses are anticipated to boost macromolecule hydrogel adoption in the forthcoming years. Increased spending capacity and rapid adoption of quick & effective products are projected to expand market growth. 

"High Adoption of Tissues & Wet Wipes and Growing need for Hygiene Products to Drive Market Growth"

Increased awareness about hygiene and hygiene products among all age groups and the product used for healing wounds is anticipated to drive market growth. A rise in R&D activities coupled with the product gives moisture to the wounds, and high demand to remove extra dead tissue is anticipated to fuel market growth. Demand for feminine hygiene products and an increased need to repair the epidermis is rising. These health benefits of the product and the growing development of the healthcare sector are projected to foster market growth.

RESTRAINING FACTORS

"Lack of Biocompatibility with Some Polymers to Restrict Market Growth"

The product has lack of biocompatibility with some polymers is estimated to hamper market growth over the forecast time. High manufacturing costs and presence of low-quality alternatives obstruct market progress.

Macromolecule Hydrogel Market REGIONAL INSIGHTS

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"Increased Demand for Hygiene Products in North America to Drive Market Share "

North America is anticipated to account for the highest macromolecule hydrogel market share owing to increased demand for bio-degradable and bio-compatibility properties along with a controlled-release mechanism is predicted to fuel market growth. The product gained popularity for its high water content, flexibility, softness, and biocompatibility. Such advantages of the product and massive demand for the product in making contact lenses are anticipated to surge market growth. The product is also used in manufacturing hygiene products and wet wipes. These factors are expected to fuel market growth in the forthcoming years.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Acelity (U.S.)
• ConvaTec (U.K.)
• Smith＆Nephew United (U.K.)
• DSM (Netherlands)
• Covidien (Ireland)
• Molnlycke Health Care (Sweden)
• Hollister Incorporated (U.S.)
• Axelgaard (U.S.)
• Coloplast (Denmark)
• Paul Hartmann
• Ashland (U.S.)
• 3M (U.S.)
• Derma Sciences (U.S.)
• NIPRO PATCH (Japan)
• Ocular Therapeutix (U.S.)
• Medico Electrodes International (India)
• Jiyuan (China)
• Guojia (China)
• Huayang (China)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.