DUBLIN--(BUSINESS WIRE)--The "Coatings for Medical Devices - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Medical device coatings are intended to protect medical devices as well as improve device maneuverability and performance. Coatings play an important role in protecting devices from pathogens and microbial factors. Growth is set to be spurred by robust demand, technological advances, rising geriatric population and growing prevalence of cardiovascular conditions. Increasing incidences of cardiovascular conditions and acute lower respiratory infections among children as a result of rising air pollution coupled with high uptake of hydrophilic lubricious coatings for urology and cardiovascular implants, catheters and sheaths due to biocompatibility is poised to drive medical coating demand. The global market is also buoyed by rising aging population, focus on quality healthcare services, increasing demand for minimally-invasive surgeries and need for timely diagnosis of medical conditions. The latest coatings available on the market address complications like tissue trauma, bacterial infection and blood clots.
The global market for Coatings for Medical Devices estimated at US$10 Billion in the year 2020, is projected to reach a revised size of US$14 Billion by 2026, growing at a CAGR of 5.8% over the analysis period. Anti-Microbial, one of the segments analyzed in the report, is projected to grow at a 6.3% CAGR to reach US$5.3 Billion by the end of the analysis period.
The Coatings for Medical Devices market in the U.S. is estimated at US$4.2 Billion in the year 2021. The country currently accounts for a 39.94% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$1.4 Billion in the year 2026 trailing a CAGR of 7.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.4% and 5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR while Rest of European market will reach US$1.5 Billion by the end of the analysis period. The US remains at the forefront of adoption of medical device coatings bolstered by advanced healthcare infrastructure and high spending on medical devices. The regional market is also buoyed by increasing medical device export volumes, rising focus on home healthcare and technological advancements. In addition, escalating cases of COVID-19 in the US have created massive demand for advanced medical treatments and pushed healthcare spending, which led to notable uptake of medical device coatings in the region.
In the global Hydrophilic segment, USA, Canada, Japan, China and Europe will drive the 6.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$1.4 Billion in the year 2020 will reach a projected size of US$2.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$135.9 Million by the year 2026, while Latin America will expand at a 8% CAGR through the analysis period.
Select Competitors (Total 61 Featured) -
- AdvanSource Biomaterials Corp.
- AeonClad Coatings LLC
- Allvivo Vascular Inc.
- Armoloy of Connecticut Inc.
- AST Products Inc.
- Biocoat Inc.
- Carmeda AB
- Covalon Technologies Ltd.
- Hemoteq AG
- Hydromer Inc.
- Materion Corporation
- N2 Biomedical
- Precision Coating Co. Inc.
- Royal DSM
- Specialty Coating Systems Inc.
-
SurModics Inc.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Medical Devices COVID-19 Impact, Market Reset & the New Normal
- COVID-19 Falters Expansion of Global Medical Device Coating Market
- Coatings for Medical Devices - A Prelude
- Global Medical Device Coatings Market Displays Exciting Shades of Prosperity
- Antimicrobial Coatings Hold Major Slice of Medical Device Coatings Market
- Hydrophilic Coatings to Exhibit Faster Growth
- Cardiovascular Device Coatings Remain Primary Application Segment
- The US and Europe Rule, while Asia-Pacific Emerges as Fastest-Growing Market
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Rising Incidence of Hospital Acquired Infections Boost Demand for Medical Device Coatings
- Increasing Incidence of Infectious Diseases Fuels Adoption of Antimicrobial Coatings
- Growing Aging Population Increases the Demand for Medical Device Coatings
- Increasing Prevalence of Chronic & Lifestyle Diseases to Propel Market Growth
- Coatings for Cardiovascular Devices Driven by Rising Incidence of Cardiovascular Diseases
- Rising Focus on Minimally-Invasive Surgeries to Buoy Demand
- Coatings on Drug-Eluting Stents (DES) to Witness Significant Growth
- Growing Usage of Hydrophilic Surface Coatings Spurs Demand
- Uptake of Sophisticated Medical Devices to Present New Opportunities
- Antimicrobial Nanocoatings Emerge as an Alternative for Traditional Antimicrobial Coatings
- Technological Advancements in Medical Coatings Market
- Medical Device Industry Turns to Plasma-Applied Coatings
- Improving Healthcare Expenditure Bodes Well for Market Growth
- Rapid Urbanization Drives Demand Prospects for Medical Device Coatings Market
- Increasing Middle Class Population Worldwide Spurs Market Growth
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/ac6d1o
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