GLOBAL HYDROGEL MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Key Developments

• Axonics Modulation Technologies Inc. acquired Contura Ltd. in February 2021 for a total consideration of US$ 200 million in cash and stock, and a potential future milestone of US$ 35 million. The acquisition includes Contura's flagship product, Bulkamid, a next-generation hydrogel that is injected into the urethral wall in a minimally invasive, office or outpatient facility procedure to restore the natural closing pressure of the urethra.
• In March 2022, CooperVision announced that it had expanded its plastic-neutral initiative by offering silicone hydrogel 1-day contact lenses in the U.S. The company's full portfolio of silicone hydrogel 1-day contact lenses, including MyDay and clariti 1 day, are now plastic-neutral. For every MyDay and clariti 1 day contact lens sold in the U.S., CooperVision partners with Plastic Bank to collect and convert an equal amount of plastic through their global network.
• In March 2021, Johnson & Johnson Vision received approval from the Japanese Ministry of Health, Labour and Welfare (MHLW) for ACUVUE Theravision with Ketotifen, which is the first and only vision correction contact lens that relieves allergic eye itch. This approval helped the company to expand its business and grow.
• In January 2020, Ferring B.V. received permission to commercialize its hydrogel-based drug delivery device for cervical ripening from the Minister of Health, Labor, and Welfare (MHLW) Japan. This strategic move helped the company to expand its customer base, and is expected to considerably increase its income, as Japan is a profitable market for women's health. The approval of the hydrogel-based drug delivery device is significant, as it allows Ferring B.V. to offer innovative solutions in the field of women's health, particularly in the area of cervical ripening.