Medical Device Coating Market (By Product: Anti-thrombogenic Coatings, Hydrophilic Coatings, Drug-eluting Coatings, Antimicrobial Coatings, Others; By Application: Dentistry, Neurology, General surgery, Orthopaedics, Gynaecology, Cardiovascular, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027
LOS ANGELES, Oct. 21, 2020 (GLOBE NEWSWIRE) -- The global medical device coatings market size is projected to reach US$ 16 Bn by 2027, with CAGR of 8.5% during 2020-2027, study by Acumen Research and Consulting. Coating is a covered of some kind used for defensive or decorative purposes on the soil or an object. Medical instruments are vulnerable to attack, apart from physical injury, various germs, including bacteria, viruses and other pathogens. This includes the use of a protective film on the surface of various surgical devices, such as stent, emergency assistance, and needles.
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Medical instruments and electronic components require security in order to be effective and secure. Hydration, sewage and body fluids are several components that can pollute and make useless lifesaving equipment. Health brands and products provide optimal options for most substrates, including plastics, steel, glass, silicone, rubber and ceramics. Hospital appliances and parts can be sterilized with hospital coatings. Because of recent technical advances, sensors and modules may be covered with physio-mechanical coatings that guard against humidity, serve as an electrical shield and have desirable chemical characteristics. The coatings also shield from tribological (lubric) characteristics. Deficiencies in the mucosal process have also resulted in antimicrobial coatings that guard against microbial activity. Medical coatings are usually used regularly to enhance system efficiency and increase product surface consistency. Medical coatings also help reduce friction between equipment and tissue and promote optimal surface coverage and homogeneity. Most of all surgical equipment needs non-binding coatings over molded, biocompatible isolation and other finishes.
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Owing to the supply interruption, the raging COVD-19 pandemic worldwide impacted the manufacturing of medical instruments. Importing essential raw materials from outside countries is difficult for coating manufacturers. Given resumed operations by some nations, shipping problems and the shortage of raw materials are cascading over the industry. This would have a negative short-term impact on the overall productivity of suppliers of medical equipment coating. However, in the coming years there is a increasing need of preventive equipment or other medical services that can help control and prevent the spread of corona virus.
Regional Stance
North America has the highest market share for medical equipment coating manufacturing followed by Europe and Asia Pacific. The United States alone has the highest share and is projected to stay competitive on the world market for medical equipment coating. Asia Pacific is still predicted to be the fastest growing nation in the forecast timeframe. The Asian medical appliances industry is expected to improve the emerging market of China and India.
The global medical device coating industry is driving growing awareness of minimally invasive procedures among patients. Furthermore, growth opportunities are projected to drive the global economy to some degree in the medical sector combined with developing economies. More consumers are worried about health and well-being, along with increased disposable income, and the need for quality medical services is expected to grow more in the future. Changing government regulations for medical devices across countries can, however, to some degree impede the growth of the market for medical device coating.
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The anti-microbial form of coating to grow significantly
The business of antimicrobial coatings is rising and is now a billion-dollar market. A sector that prevents bacteria and germs from spreading over many surfaces is being created.
The huge demand for antimicrobial coatings in the Northern Americas constitutes a significant part of the market.
Furthermore, these coatings help prevent the spread and growth of bacteria and germs on medical device; antimicrobial coatings can improve health facilities' hygiene.
In addition, the active cleaning agents which are used in a traditional cleaning medical facility do not need antimicrobial coatings on countertops.
The use of antimicrobial coatings is expected to greatly reduce the environmental effects of washing in medical facilities.
The anti-microbial coating is also potentially the fastest growth rate due to the above factors.
Key Players & Strategies
Participants include major global Abbott Laboratories, Surmodics, Inc., AST Products Inc., Royal DSM, Hydromer. Inc., Covalon Technologies Ltd., Precision Coatings, and Others.
In 2011, Kensey Nash, the regenerative medicine medical tool firm, purchased US$ 20 Mn in cash for the properties of Nerites, a manufacturer of therapeutic adhesives and anti-fouling coatings.
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