The hydrogel market is led by major players in the healthcare and chemicals industries. Johnson & Johnson (US), Cardinal Health (US), The 3M Company (US), Coloplast (Denmark), B. Braun Melsungen (Germany), Smith & Nephew (UK), Derma Sciences (US), Royal DSM (Netherlands), Dow Corning Corporation (US), Paul Hartmann (Germany), Momentive Performance Materials (US), Ocular Therapeutix (US), ConvaTec (UK), Ashland (US), Evonik Industries (Germany), Cosmo Bio USA (US), MPM Medical (US), Molnlycke Health Care (Sweden), Hollister (US), Medline Industries (US), Gentell (US), and Alliqua Biomedical (US) are key players operating in the hydrogel market. These players have adopted various growth strategies to expand their global presence and increase their market share. Mergers & acquisitions, expansions, and new product launches are some of the major strategies adopted by leading players operating in the hydrogel market.
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The mergers & acquisitions strategy accounted for the largest share of 58% of all strategic developments in the hydrogel market in 2016. Companies such as Johnson & Johnson (US), Derma Sciences (US), and Momentive Performance Materials (US) adopted this strategy to expand their geographic reach, strengthen their product & service portfolios, and enhance growth prospects in the hydrogel market.
Johnson & Johnson (US) is a leading manufacturer and distributor of hydrogels and related products for the healthcare industry. In 2017, the company acquired Abbott Medical Optics (AMO), a wholly-owned subsidiary of Abbott. This acquisition strategy helped Johnson & Johnson expand its contact lens business and enhance its customer base in the hydrogel market.
Derma Sciences (US) is another key player in the hydrogel market. The company is engaged in the development, distribution, and sales of hydrogels and related products. In 2016, the company launched MEDIHONEY, a hydrogel-based wound care product, which is increasingly utilized in wound treatment. This development strategy helped the company offer improved products in wound care application.
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