Market Research Future Published a Cooked Research Report on “Global Medical Device Coating Market” that contains the information from 2016 to 2023. Medical Device Coating Market is expected to grow at a CAGR 5.16% during forecast period 2016-2023.
Global Medical Device Coating Market is growing pervasively due to the prominence the coating materials hold in protecting devices and apparatus used in the medical sector. Medical Device Coating Is crucial when it comes to protecting multiple types of devices and implants used in the healthcare sector. These coatings protect medical devices from susceptible attacks of various microbial factors & other pathogens as well as reduce corrosion & friction, offering them a glossy and finishing touch.
Moreover, these coating materials also extend the longevity of the medical devices, increasing their durability. The advantages that medical device coatings offer drives huge market demand. Patient’s safety being a paramount concern, it is a key driving force pushing up the growth in the Medical Device Coating Market. Medical devices are one of the pillars the flourishing healthcare sector is standing on today. Increasing uptake of medical devices impacts market growth positively.
According to Market Research Future (MRFR), Global Medical Device Coating Market is poised to touch a valuation of USD 10,109.7 MN by 2023. MRFR, in its recently published study, also confirms that the market would register approximately 5.16% CAGR during the review period (2017-2023). Rising healthcare expenditures and well-spread awareness for the benefits of medical devices is stimulating market demand. Besides, the growing need for early detection and non-invasive therapies fosters market growth.
Additional factors contributing to the growth of the Medical Device Coating Market include the augmented demand for quality healthcare growing with the increasing population, urbanization, and the improving economy worldwide. Also, increasing geriatric population and the growing demand for Minimal Invasive Surgical Instrument (MISI) are impacting the market growth positively.
Various innovative and connected products such as advanced diagnostics products and wearable medical devices that are rapidly getting introduced in the market define the demand and the growth in the market. Technological advancements in coating technologies are boosting the market demand, bringing about advanced coatings such as hydroxyapatite, antimicrobial silver coatings, drug-eluting coatings, and heparin, a blood-compatible coating.
Technology has also significantly improved techniques for coating application/ deposition processes. For instance, plasma spraying, dipping, and spin coating, and the most recent coating techniques such as low-temperature atmospheric plasmas, laser treatments, and micro-blasting procedures.
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Medical Device Coating Market – Segmentations
The market is segmented into three dynamics to widen the scope of understanding,
By Types: Drug-Eluting, Antimicrobial, Anti Therombogenic, Hydrophilic, and others.
By Applications : Orthopaedics, Cardiovascular, Neurology, and Gynaecology among others.
By Regions: Europe, North America, APAC, and Rest-of-the-World.
Medical Device Coating Market – Competitive Landscape
The Medical Device Coating Market appears fiercely competitive, with the presence of many large and small-scale players operating in the market. Innovation in product and technologies in the market are also expected to create strong investment opportunities for global players. Players acquire promising companies in emerging markets to expand their footprints.
Players Leading the Global Medical Device Coating Market include Surmodics, Inc. (US), Materion Corporation (US), Hydromer Inc. (US), Sono-Tek Corp (US), Speciality Coating Systems Inc. (US), Biocoat Incorporated (US), Royal DSM N.V (The Netherlands), and Precision Coating Company, Inc. (US), among others.
Industry/ Innovation/ Related News:
October 10, 2019 — PVA (the US), a global supplier of conformal coating systems, announced the acquisition of the additive manufacturing start-up from Create Orthotics & Prosthetics (O&P – the US), a leading medical technology company. PVA also offers innovative fluid dispensing solutions and precision valve technology and now owns all Create O&P software and intellectual property. The acquisition is the foundation of a new Medical Device Division that PVA intends to expand diversifying its product line beyond the traditional core electronics assembly market.
October 01, 2019 — Trinseo (the US), a global materials solutions provider and manufacturer of plastics, latex binders, and synthetic rubber, announced the completion of its acquisition of Dow Chemical Company’s latex production facilities & related infrastructure in Rheinmunster, Germany. Trinseo manufactures latex binders, plastics, and synthetic rubber for medical devices, automotive, and consumer electronics, among other several industries.
Trinseo also plans to grow its latex binders business in applications serving the coatings, adhesives and sealants markets, as well as specialty paper. The acquisition is aligned with Trinseo’s strategy to accelerate growth through expanded product portfolio for adhesives and construction applications. With the full ownership and operational control of both latex production facilities and site infrastructure & services, Trinseo’s production network is expected to widen across Europe.
Browse Key Industry Insights spread across 123 pages with 34 market data tables & 11 figures & charts from the report, “Medical Device Coating Market Information: By Type (Antimicrobial, Drug-Eluting, Hydrophilic, and Anti Therombogenic), by Application (Cardiovascular, Orthopedics, Neurology, Gynecology, and Others), and by Region (Asia Pacific, Europe, North America, Latin America, and Middle East & Africa) – Growth Potential, Price Trends, Competitive Market Share & Forecast 2023” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/medical-device-coatings-market-2120
Global Medical Device Coating Market – Regional Analysis
North America leads the Global Medical Device Coating Market. The largest share of the market attributes to the augmented demand for advanced medical devices and the presence of numerous matured manufacturers. With the rising uptake of advanced medical devices, the region is forecasted to continue with its dominance throughout the review period, as well.
Europe stands second in the Global Medical Device Coating Market. Due to well-established healthcare sectors in the region, the size of the medical device coating market in the region. The improving economy in the region is spurring the adoption of medical devices. Further, continuing with the same growth trends, the region is expected to create a valuation of around USD 2,763 MN by the end of 2023.
The Asia Pacific region is emerging as a promising market for the Medical Device Coating, accounting for a substantial market share globally. Growing markets in Japan, China, South Korea, and India, contribute to the regional market, hugely. Besides, improving economic conditions in the region impact the growth of the regional market. The APAC medical device coating market is projected to register approximately 6.39% CAGR during the review period.
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