Asia Pacific to Drive Global Medical Device Coatings Market at 7.4% CAGR from 2014 to 2020

Global Medical Device Coatings Market: Snapshot

The global medical device coatings market is prophesied to expect high growth prospects birthing with latest technological developments reducing design complexities and improving the use of medical devices. High awareness about hygiene and increased incidence of hospital-acquired infection (HAI) could support the demand in the global medical device coatings market.

On the other hand, high prevalence of epidemic diseases is foreseen to create more demand in the global medical device coatings market. High population growth could be another factor augmenting the demand in the global medical device coatings market. Rising foreign investments could develop as a powerful factor propelling the growth of the global medical device coatings market.

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Antimicrobial Coatings to Dominate with High Incidence of Microbial Infections

The global medical device coatings market could see a classification into antithrombogenic, drug-eluting, hydrophilic, and antimicrobial coatings. Among these, hydrophilic coatings are predicted to show a faster rise in the global medical device coatings market. However, antimicrobial coatings could dominate the global medical device coatings market on the basis of share.

The global medical device coatings market could increase growth with rising number of neurology, orthopedics, ophthalmology, general surgery, dentistry, gynecology, and cardiology cases. Among these end-user segments, general surgery is prognosticated to create larger demand in the global medical device coatings market. On the other hand, the cardiology market for medical device coatings could show quicker growth in the near future. Thus, there could be high demand for medical device coatings for occlusion devices, percutaneous devices, coronary stents, balloon catheters, guide wires, and angioplasty catheters.

The global medical device coatings market could also gain growth with rising applications in private and public hospitals. There could be strong demand in the global medical device coatings market due to the growing preference for non-implantable and implantable medical equipment in the recent years. The demand could further increase with enhanced biocompatibility between living tissues and medical devices achieved by medical device coatings.

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Strict Government Regulations to Cause Europe to Lose Market Share in Future

Geographically, the global medical device coatings market is envisaged to find North America growing stronger in foreseeable future. Impressive technological advancement in the medical sector could catapult the medical device coatings market in the region. Europe is envisioned to tread upon the heels of North America in terms of market share. However, implementation of tight government policies in the region could place Europe in a weak position in the global medical device coatings market.

On the other hand, Asia Pacific is foretold to show an aggressive rise in the global medical device coatings market. There could be colossal demand for medical device coatings in the region due to the rise of Southeast Asia, India, and China in terms of market growth. Swelling demand for cardiovascular and dentistry treatments in these countries could be another factor augmenting the demand in the Asia Pacific medical device coatings market. Strong advancement of the medical device industry and growing penetration of new medical devices in China are forecast to create a whole lot of opportunities in the region.

Increasing geriatric population in Brazil and rising healthcare awareness are envisioned to contribute to the growth of the medical device coatings market in the Rest of the World.

Some of the leading players of the global medical device coatings market are Sono-Tek Corporation, Specialty Coating Systems, Inc., and Royal DSM N.V.

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This release was published on openPR.