A hydrogel is like a molecular sponge. Common uses of hydrogel materials include cartilage replacement, drug delivery, aiding in tissue repair, wound care management, and as the material of choice for contact lenses. It is gaining significant traction as a novel carrier, which can be used in a variety of products targeted for different indications. Therefore, there is an increasing demand for medical grade hydrogel around the world, driving the growth of the medical grade hydrogel market. For example, in January 2021, Jellagen Limited announced the launch of JellaGel Hydrogel. 3-dimensaional Hydrogels allow cells to grow and interact with all of their surroundings which makes a huge difference.
Hydrogels are suitable for many medical applications, as they absorb different types of the fluid. Moreover, hydrogels can be used as carrier for many active ingredients, as human body consist of large amount of water. Since they are highly biocompatible, they are not harmless compared to other polymers. North America is expected to lead the medical grade hydrogel market due to the increasing number of plastic/reconstructive surgeries. Hydrogels or hydrogel-based materials are widely used in these type of surgeries. For example, according to American Society of Plastic Surgeons, around 313,735 Breast augmentation surgeries were performed in the United States in 2018. This in turn is also expected to drive the market growth.
Moreover, growth of the medical grade hydrogel market, in North America (especially in the United States and Canada), is driven by the increasing demand for hydrogels for drug delivery, wound care management, tissue repair, and the material of choice for contact lenses. In August 2020, Bausch + Lomb announced the launch of INFUSE silicone hydrogel (SiHy) daily disposable contact lens, the only SiHy daily disposable with a next generation material infused with the ProBalance Technology to help ocular surface homeostasis and help reduce symptoms of contact lens dryness, which is experienced by around half of the 45 million lens wearers in the United States.
Moreover, in November 2020, Bausch + Lomb received approval from Health Canada for the sale of Bausch + Lomb Ultra One Day daily disposable silicone hydrogel (SiHy daily) contact lenses. Furthermore, the medical grade hydrogel market is gaining huge traction due to the increasing prevalence of the chronic disease, such as heart disease and cancer, and extensive research and development for the development of innovative products. According to the World Health Organization (WHO), chronic diseases, such as cancer, diabetes, and heart disease, are the leading causes of death and disability worldwide.
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