Medical Device Coatings Market Is Expected To Reach US$ 10.93B In 2020

Transparency Market Research has published a new report titled “Medical Device Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.” According to the report, the global medical device coatings market was valued at US$ 6.63B in 2013 and is anticipated to reach US$ 10.93B in 2020, expanding at a CAGR of 7.4% between 2014 and 2020.

The market for medical device coatings is driven by increasing healthcare awareness in developing countries coupled with rising demand for better medical & healthcare facilities. Medical device coatings are used to counter microbial growth, wear and tear and prevention of infection through medical devices. Furthermore, significant foreign investment in the medical device market in China coupled with lenient governmental regulations is driving demand for medical device coatings. Increasing demand for nanotechnology based coatings is projected to offer higher opportunities for market growth over the next few years. However, volatility in prices of raw materials coupled with stringent governmental regulations is estimated to hamper market growth in the near future.

Anti-microbial coatings was the largest product segment, accounting for over 40% share of the global demand for medical device coatings in 2013. Drug-eluting coatings constituted the second-largest market share of the global medical device coatings market in 2013. Drug-eluting coatings facilitate slow release of drugs for removal of blockages in arteries or veins. Hydrophilic coatings is anticipated to be the fastest growing product segment in the medical device coatings market during the forecast period. Hydrophilic coatings have improved wetting characteristics that enable smooth lubrication when in contact with human tissue and blood.

In terms of demand, the general surgery segment has been dominating the medical device coatings market over the past few years. Medical device coatings are applied on catheters, syringes and guide wires, among others. Cardiovascular accounted for the second-largest demand for medical device coatings in 2013. Medical device coatings are applied on various cardiovascular devices such as balloon catheters, angioplasty catheters, coronary stents, guide wires, occlusion devices and other percutaneous coronary intervention devices. Cardiovascular is estimated to be the fastest growing end-user for medical device coatings in the near future. Neurology and gynecology are projected to be major end-users for medical device coatings by the end of 2020. Other end-users segment (such as ophthalmology) is likely to exhibit stable demand for medical device coatings during the forecast period.

In terms of demand, North America has been dominating the medical device coatings market over the past few years. The region held over 45% share of the global demand for medical device coatings in 2013. This trend is projected to continue during the forecast period. Strategic collaborations with developing countries such as China and India are estimated to help maintain the overall growth of the medical device coatings market in North America in the next few years. Asia Pacific is anticipated to be the most lucrative market for medical device coatings during the forecast period. Increase in healthcare awareness coupled with foreign investments is likely to drive demand for medical device coatings in the region. Rest of the World constituted the least market share in the global medical device coatings market in 2013. The region is expected to be the fastest emerging market for medical device coatings during the forecast period. 

The report provides a comprehensive view of the medical device coatings market in terms of volume and revenue. It includes current demand analysis and forecast for product segment and end-users in North America, Europe, Asia Pacific and Rest of the World. 

Browse the full Medical Device Coatings (Anti-microbial Coatings, Hydrophilic Coatings, Drug-eluting Coatings and Other Coatings) Market for General Surgery, Cardiovascular, Neurology, Gynecology, Orthopedics, Dentistry and Others End-users – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020 report at http://www.transparencymarketresearch.com/medical-device-coatings-market.html

The medical device coatings market has been bifurcated into the following segments:

Medical Device Coatings Market – Product Segment Analysis

• Anti-microbial coatings
• Hydrophilic coatings
• Drug-eluting coatings
• Others (Including anti-thrombogenic coatings)

Medical Device Coatings Market – End-user Analysis

• General surgery
• Cardiovascular 
• Neurology
• Gynecology
• Orthopedics
• Dentistry
• Others (Including ophthalmology)

Medical Device Coatings Market - Regional Analysis

• North America
• Europe
• Asia Pacific
• Rest of the World (Including Latin America, the Middle East and Africa)

About Transparency Market Research (TMR)

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.