The global medical device
coatings market size is expected to reach USD15.69 billion by 2025, according
to a new report conducted by Grand View Research, Inc. The growing demand for
coatings as it improves biocompatibility between living tissue and the medical
device will augment the industry growth. The growing preference for implantable
and non-implantable medical equipment along with rising number of private and
public hospitals will fuel market growth.
 |
| U.S. medical device coatings market, by product, 2014 - 2025 (USD Million) |
Technological innovation
including the introduction of antimicrobial microRESIST technology for
orthopedic implants and catheters which eliminate micro organisms will augment
market growth over the forecast period. The product offers lubricity and a
smooth outer surface for easy insertion of the guidewires and catheters, which
in turn, will propel demand over the forecast period.
Antimicrobial coatings is
expected to witness considerable revenue growth at a CAGR of 7.0% from 2016 to
2025 as they protect surfaces from microbes including fungi, parasites, bacteria,
and germs. The rising number of hospitals along with the increasing requirement
for healthcare facilities creates a need for sophisticated devices and
equipment, which will augment product demand.
In depth research report on Medical Device Coatings Market
Further key findings from the report suggest:
•
Asia Pacific accounted for
20.3% of the global revenue share in 2015 and is anticipated to show
substantial growth in light of rising living standard and increasing healthcare
expenditure mainly in China and India.
•
Presence of major medical
device manufacturers in China including Jiaxing Smir Medical Devices Co., Ltd.,
Medtec, and GE Healthcare will drive the market growth over the next nine
years.
•
Central & South America is
expected to witness high revenue gains at a CAGR of 7.9% from 2016 to 2025 on
account of rising medical equipment usage in Brazil owing to high healthcare
coverage along with increasing number of plastic surgeries in the country
•
General surgery was the
dominant segment and accounted for 25.3% of the overall volume share in 2015
and will witness growth as it offers superior durability and resistance to wear
for the vascular surgery equipment will propel market size.
•
The industry is highly
competitive in nature with the main players including Sono-Tek Corp., Materion
Corp., Hydromer Inc., Biocoat Inc., SurModics Inc., DSM Biomedical, Specialty
Coatings Systems, Inc., and AST Products, Inc.
•
DSM offers Comfort Coat
hydrophilic lubricious coating for various products including catheters and
delivery systems which enhance the maneuverability of catheters and patient
comfort by maintaining lubricity throughout the procedure
Grand View Research has segmented
the global medical device coatings market on the basis of product, application,
and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD
Million;2014 - 2025)
•
Hydrophilic coatings
•
Antimicrobial coatings
•
Drug-eluting coatings
•
Others
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million;2014 - 2025)
•
Neurology
•
Orthopedics
•
General surgery
•
Cardiovascular
•
Dentistry
•
Gynecology
•
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million;2014 - 2025)
•
North America
o
U.S.
•
Europe
o
Germany
•
Asia Pacific
o
China
o
India
•
Central & South America
o
Brazil
•
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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