The Global Market for Coatings for Medical Devices is Projected to Reach US$15.3 Billion by 2022

Focus on the Prevention & Control of Biofilm-Based Medical-Device-Related Infections Spurs the Medical Device Coatings Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Coatings for Medical Devices market. The global market for Coatings for Medical Devices is projected to reach US$15.3 billion by 2022, driven by the growing focus on healthcare cost reduction by reducing the burden of preventable illnesses such as those caused by biofilm-based medical-device-related infections.  

Coatings for medical devices are thin layers of materials applied on medical devices to enhance their surface function, safety and performance. These coatings consist of a number of compounds that are uniquely formulated to accomplish germicidal and infection prevention goals. The growing risk of nosocomial infections to worrisome proportions underpins the need for coatings on medical devices such as catheters, catheter adapters, cannulae, shunts, wires, and other hollow tubular equipment. Contamination of surgical and diagnostic devices and instruments increases the risk of secondary infections and prolongs the duration of hospitalization, thus pushing up overall healthcare costs. Coatings, in this regard, have come to play an indispensable role in providing protection not only to devices, but also to patients.  The large and robustly growing healthcare industry and allied sectors augurs well for the coatings market. Companies are making extensive efforts to extend the scope of applications for their coating products. In addition, new application methods are emerging that enable deposition of coatings in a faster, cleaner and a more uniform way. Drug-eluting stents have emerged as a key application area for coatings, with biodegradable DES coatings that address the coated-stent associated complications such as late stent thrombosis, hypersensitivity, and inflammation. 

For surgical and diagnostic devices, tools and instruments, anti-microbial coatings are primarily used as protective coatings to combat bacterial growth. Antimicrobial coatings have gained popularity in urology, intravenous therapy, ophthalmology, general surgery, orthopedics and cardiology. Demand for hydrophilic surface coatings is surging in applications such as catheters in respiratory care, contraception, fertility and endoscopy, supported by the emergence of new generation hydrophilic coatings that feature low particulate and low friction characteristics. Development of non-thrombogenic biomaterials and anti-adherent coatings with hemocompatible attributes is forecast to benefit growth of coatings for blood contacting devices. Nanocoatings with superior biocompatibility benefits are forecast to find lucrative uses in coating surgical implants and prosthetics. 

As stated by the new market research report on Coatings for Medical Devices, the United States represents the largest market worldwide, supported by biomedical engineering initiatives aimed at developing next-generation safe and durable biocompatible medical devices that encourage positive healing responses. Asia-Pacific ranks as the fastest growing market with a CAGR of 11.4% over the analysis period, led by factors such as stable economic growth, growing population with rising healthcare needs, rising income and standards of living, improving public healthcare services, and increasing demand for and consumption of high-quality medical care services. 

Major players covered in the report include AdvanSource Biomaterials Corp., AeonClad Coatings, LLC, Allvivo Vascular, Inc., Armoloy of Connecticut, Inc., AST Products, Inc., Biocoat, Inc., Biophan Technologies, Inc., Carmeda AB, Covalon Technologies Ltd., Royal DSM, Hemoteq AG, Hydromer, Inc., Nanocopoeia, Inc., Specialty Coating Systems, Inc., N2 Biomedical, SurModics, Inc., among others.

The research report titled "Coatings for Medical Devices: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. The global market is also analyzed by coating types - Anti-Microbial coatings, Drug-Eluting coatings, Hydrophilic coatings, and Other coatings.

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.