Report Coverage | Details | ||
---|---|---|---|
Base Year: | 2020 | Market Size in 2021: | US$ 245.0 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2021 to 2028 |
Forecast Period 2021 to 2028 CAGR: | 8.2% | 2028 Value Projection: | US$ 425.3 Mn |
The increasing incidence of wounds is the major factor that is expected to drive the market growth over the forecast period.
The rising cases of trauma and chronic wound is expected to drive growth of the global rapid self-healing gel market over the forecast period. For instance, according to an article published in Ecronicon on May 28, 2020, chronic wounds affect 6% of the total population across the globe, out of which geriatric population is mostly affected.
Moreover, increasing number of clinical trials for improving the effectiveness of rapid self-healing gel is expected to aid in the growth of the market over the forecast period. For instance, according to the U.S. National Library of medicine data as on June 8, 2021, a total of 553 clinical trials associated with hydrogels are listed, out of which 73 are currently being carried out.
The rising research and development activities may support production of new rapid self-healing gels, which is expected to drive the growth of the global rapid self-healing gel market over the forecast period. For instance, according to an article published by the Nature Scientific Journal in February, 2019, researchers at the National University of Singapore made a breakthrough in the self-healing gel domain by developing a water resistant hydrogel, which heals itself in case of mechanical stress. This self-healing gel resembles jellyfish skin and is made up of fluorine-based polymer. Traditional self-healing gels lacked the property of water resistance, which limited its use in electrical applications. This fluorine based self-healing gel overcomes the shortcomings of traditional self-healing gels, thus can be used to make aquatic soft robots and water-resistant mobile screens.
Figure 1: Global Rapid Self-healing Gel Market Share (%) Analysis, By Application, 2021Global Rapid Self-healing Gel Market Trends Increasing incidence of wounds is the major factor that is expected to drive the market growth over the forecast period.
The rising cases of trauma and chronic wound is expected to drive growth of the global rapid self-healing gel market over the forecast period. For instance, according to an article published in Ecronicon on May 28, 2020, chronic wounds affect 6% of the total population across the globe, out of which geriatric population is mostly affected.
Moreover, increasing number of clinical trials for improving the effectiveness of rapid self-healing gel is expected to aid in the growth of the market over the forecast period
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