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