Global medical device coatings market is expected to witness a significant market growth over the forecast period owing to rising preference for implantable and non-implantable medical devices and increased awareness of hospital acquired infection. In addition, increased popularity of minimally invasive procedures amongst patient base, increased life expectancy and technological innovations are also high impact rendering drivers of this market. Factors such as rising need of incorporation of these coatings due to direct contact with the body material of medical device such as steel; aluminum or bioglass often leads to infections and allergic reactions. This is attributed to adverse side effects which include inflammation, allergic reactions, tissue trauma, rejection of implants and induced thrombosis thereby, raising the demand of the medical device coatings market over the next seven years. Technological innovations in coatings includes incorporation of fluorinated coatings, usage of hydroxyapetite, silver coatings, drug eluting coatings integrated with high performance coating techniques such as low temperature atmospheric plasma coating, spin coating and microblasting technique are anticipated to fuel the demand for the market. Moreover, upcoming innovative technology in coating includes photo defined micro-via technology which forms a covalent bond between coating and device substrates. Advent of these coatings in various applications such as targeted drug delivery, orthopedic implants, and catheters are further expected to boost the market growth. Consequentially, this result in increased biocompatibility, reduced static & kinetic friction between devices and tissues, coating homogeneity, greater surface coverage and increased the life of the medical device are anticipated to induce demand for the market further. Moreover, low incidences of infection and reduced post operative complications are expected to propel the market growth over the forecast period.
The global medical device coatings market is segmented on the basis of product and end-use. On the basis of product, it is categorized into anti-microbial coatings, dry lubricants coating, hydrophilic coatings, drug eluting coatings and anti-thrombogenic coatings. Under end-use segmentation, it is categorized into general surgery, neurology, cardiovascular applications, gynecology, dentistry, orthopedics and ophthalmology. As of 2014, dry lubricants coatings segment dominated the market owing to benefits such as improved durability of the medical devices, low microbial contamination and increased smoothness of the surface which propelled the demand for this segment. Hydrophilic coatings segment is expected to be the fastest growing segment of medical device coatings market due to its usage in wider range of medical devices including cardiac pace makers and high lubrication. Moreover, benefits such as optical clarity and ability of withstand maintenance procedures such as sterilization; storage and cleaning are also anticipated to drive the demand for this segment over the forecast period. Under end use segmentation, as of 2014, orthopedics primarily dominated the market due to rising usage of orthopedic implants in geriatric population base. Cardiovascular segment is expected to be the fastest growing owing to rising preference for cardiac pace makers and implants over external medical devices leading to the growth of this segment over the forecast period.
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Geographically, the medical device coatings market is segmented into North America, Europe, Asia Pacific, Latin America and MEA. As of 2014, North America held the largest share as a consequence of propelling growth factors such as increasing incidences of microbial contamination from medical devices and reduced life of medical devices. Moreover, rising geriatric population base, sophisticated healthcare infrastructure and high disposable income in this region. Asia Pacific region is anticipated to be the fastest growing owing to significant factors such as improving healthcare infrastructure, rising disposable income and increasing healthcare awareness levels in emerging economies like India and China. Furthermore, new market players leading to increasing competition is anticipated to play a significant role in providing growth platform to the medical device coatings market in this region over the forecast period.
The key players dominating this market include Materion Corp., Hydromer Inc., Sono-Tek Corp. and Surmodics Inc., DSM Biomedical, Biocoat Inc., Specialty Coatings Systems Inc., AST Products Inc. and Bayer Material Science LLC. These companies focus on stakeholder initiatives as well as collaborative strategies in order to produce technologically innovative coating products. They also advocate targeting regions, in order to capitalize their market share. Moreover, these companies focus on wide range of product portfolio, patenting their products and aimed at improved patient care leading to growth expansion of medical devices coatings market.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Grand View Research, Inc
Phone: 1-415-349-0058
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Email: sales@grandviewresearch.com
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The global medical device coatings market is segmented on the basis of product and end-use. On the basis of product, it is categorized into anti-microbial coatings, dry lubricants coating, hydrophilic coatings, drug eluting coatings and anti-thrombogenic coatings. Under end-use segmentation, it is categorized into general surgery, neurology, cardiovascular applications, gynecology, dentistry, orthopedics and ophthalmology. As of 2014, dry lubricants coatings segment dominated the market owing to benefits such as improved durability of the medical devices, low microbial contamination and increased smoothness of the surface which propelled the demand for this segment. Hydrophilic coatings segment is expected to be the fastest growing segment of medical device coatings market due to its usage in wider range of medical devices including cardiac pace makers and high lubrication. Moreover, benefits such as optical clarity and ability of withstand maintenance procedures such as sterilization; storage and cleaning are also anticipated to drive the demand for this segment over the forecast period. Under end use segmentation, as of 2014, orthopedics primarily dominated the market due to rising usage of orthopedic implants in geriatric population base. Cardiovascular segment is expected to be the fastest growing owing to rising preference for cardiac pace makers and implants over external medical devices leading to the growth of this segment over the forecast period.
To request a sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/medical-device-coatings-market
Geographically, the medical device coatings market is segmented into North America, Europe, Asia Pacific, Latin America and MEA. As of 2014, North America held the largest share as a consequence of propelling growth factors such as increasing incidences of microbial contamination from medical devices and reduced life of medical devices. Moreover, rising geriatric population base, sophisticated healthcare infrastructure and high disposable income in this region. Asia Pacific region is anticipated to be the fastest growing owing to significant factors such as improving healthcare infrastructure, rising disposable income and increasing healthcare awareness levels in emerging economies like India and China. Furthermore, new market players leading to increasing competition is anticipated to play a significant role in providing growth platform to the medical device coatings market in this region over the forecast period.
The key players dominating this market include Materion Corp., Hydromer Inc., Sono-Tek Corp. and Surmodics Inc., DSM Biomedical, Biocoat Inc., Specialty Coatings Systems Inc., AST Products Inc. and Bayer Material Science LLC. These companies focus on stakeholder initiatives as well as collaborative strategies in order to produce technologically innovative coating products. They also advocate targeting regions, in order to capitalize their market share. Moreover, these companies focus on wide range of product portfolio, patenting their products and aimed at improved patient care leading to growth expansion of medical devices coatings market.
Read detailed report or request for sample of this research report TOC:
http://www.grandviewresearch.com/industry-analysis/medical-device-coatings-market/request-toc
About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: www.grandviewresearch.com
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