Medical device coatings market to $14.47 billion by 2022

Medical device coatings market to $14.47 billion by 2022

North America dominated the global medical device coatings market due to technological advancements and established healthcare infrastructure.

February 16, 2017
Manufacturing Group

Cleveland, Ohio – 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 favoring 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.

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 Co. Inc., Specialty Coating Systems Inc., AST Products Inc., Covalon Technologies Ltd., Harland Medical Systems Inc., SurModics Inc., Sono-Tek Corp., 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 equipment & tools
  • Other applications

End users covered

  • Cardiovascular
  • Dentistry
  • General surgery
  • Gynecology
  • Neurology
  • Ophthalmology
  • Orthopedics
  • Other end users

Source: Market Reports Center