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According to a new growth forecast analysis by Global Market Insights, the rapid self-healing gel market is set to reach USD 310 million by 2025.
Consistent progression in wound healing is a primary factor likely to make significant positive impact on the rapid self-healing gel market size. Rapid self-healing gel is widely applicable in wound dressing or healing owing to its excellent properties including high sensitivity to physiological environment, adequate flexibility and hydrophilic nature which makes it highly preferable across biomedical applications. They are widely applicable for coating the medical devices in the healthcare industry.
Growing R&D investment in the medical industry by key players in the US are likely to trigger medical devices demand, which will further fuel growth for rapid self-healing gel, says the report.
Unstable raw material prices of rapid self-healing gel are expected to hamper the overall business size in the forecast timeframe. Nevertheless, the report goes on, steady progression in the biomedical industry is fueling demand for materials with excellent properties lending themselves to applications such as tissue engineering, drug delivery, 3D printing, and surface coating.
In North America, rapid self-healing gel market size constituted nearly 40% of the overall industry share in 2018 and is projected to rise by CAGR close to 7.0% between 2019 and 2025. Key players in North America such as Cardinal Health, Cytogel Phama are principally investing in R&D activities, signing patent license agreements, and launching new products based on polymers and resins catering to wide ranging applications. Moreover, advanced medical & pharmaceutical industry along with increasing medical expenditure in this region are some of the major factors stimulating the growth of the rapid-self healing gel market in North America.
To see the report, visit https://www.gminsights.com/industry-analysis/rapid-self-healing-gel-market