Medical Device Coatings Market Size, Share, Trends, Analysis and Forecasts To 2022
Global medical device coatings market is valued at $ 7.64 billion in 2015 and is expected to reach $ 14.47 billion by 2022 growing at a CAGR of 9.5 % between 2015 and 2022. Rising consumer awareness about minimally invasive surgeries, rising global population and expansion of the medical products manufacturing are the factors favouring the market growth. Furthermore, increasing awareness about hygiene, growing disposable income in developed regions and growth in medical industries in emerging regions is anticipated to boost the global market to certain extent. However, instability of raw material prices and stringent government regulations are the factors hampering the market growth.
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By product, anti-microbial coatings segment is estimated to account for the largest share and hydrophilic coatings is projected to be the fastest growing product segment during the forecast period. North America dominated the global medical device coatings market due to technological advancements and established healthcare infrastructure. Asia Pacific is expected to witness highest growth on account of rising demand from end-users and increased manufacturing of medical devices.
Some of the major players in the global market include Abbott Laboratories, Royal DSM N. V., Bayer Material Science LLC, DSM Biomedical, PPG Industries, Inc., Precision Coating Company, Inc., Specialty Coating Systems, Inc., AST Products, Inc., Covalon Technologies Ltd., Harland Medical Systems, Inc., SurModics, Inc., Sono-Tek Corporation, Hydromer, Inc., Hemoteq AG, BioCoat, Inc. and Merit Medical Systems, Inc.
Products Covered: Hydrophilic coatings Anti-thrombogenic coatings Anti-microbial coatings Dry lubricants coating Drug-eluting coatings Other Products
Applications Covered: Implants Drug Delivery Medical Devices Medical Equipments & Tools Other Applications
End Users Covered: Cardiovascular