Global Coatings Market for Medical Devices Industry 2017-2021
About Coatings for Medical Devices Industry
Medical devices are used during surgeries and as medical implants. Medical implants are used to replace a damaged, missing, or infected biological structures. Coatings are applied on medical devices to overcome challenges such as corrosion and bacterial and fungal growth. Coatings are made of materials such as polymers, metals, and ceramics. The most common processes that are being used for coating medical devices are dip coating, spray coating, reel-to-reel coating, robotic coating, brush coating, and spin coating.
Technavio’s analysts forecast the global coatings market for medical devices industry to grow at a CAGR of 8.04% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global coatings market for medical devices industry for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Coatings Market for Medical Devices Industry 2017-2021
Technavio recognizes the following companies as the key players in the global coatings market for medical devices industry: Covestro, Materion, Royal DSM, Sono-Tek, and Surmodics.
Other Prominent Vendors in the market are: AST Products, Biocoat, Covalon Technologies, Freudenberg Medical, Harland Medical Systems, Hemoteq, Hydromer, Merit Medical Systems, N2 Biomedical, Precision Coating Company, and Specialty Coating Systems.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing medical device industry. With the rising demand for medical devices in the healthcare industry, new coatings have been developed for medical devices, which include antimicrobial, drug-eluting, and lubricious coatings.”
According to the report, one driver in the market is growing demand for cardiovascular and orthopedic implants. Medical implants are medical devices or tissues that are placed inside the body permanently or temporarily to replace the damaged or diseased part. Implants can be removed after repair of the bone or tissue. The demand for medical implants is increasing across the globe due to the rise in the number of patients suffering from cardiovascular, orthopedic, spinal cord, and dental diseases. With the increase in the aging population and rising obesity-related problems, the demand for orthopedic and cardiovascular medical devices is rising at a significant rate.
Further, the report states that one challenge in the market is high cost of surgical procedures involving medical devices. More than 80% of the medical devices and coatings market is dominated by the US, Europe, Australia, and Japan, due to the technological advancements in these countries. As they are the major manufacturers of the medical devices, the cost is also decided by them. Developing countries such as China, India, South Africa, Indonesia, and Mexico cannot afford the high cost of surgical procedures and implants using these medical devices.
Covestro, Materion, Royal DSM, Sono-Tek, Surmodics, AST Products, Biocoat, Covalon Technologies, Freudenberg Medical, Harland Medical Systems, Hemoteq, Hydromer, Merit Medical Systems, N2 Biomedical, Precision Coating Company, and Specialty Coating Systems.
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