Medical Device Coatings Market By 2020 Professional Survey Report

Growth of the medical device industry in China is the key driving factor for the medical device coatings market. Significant foreign investments coupled with lenient governmental regulations are some of the stimulators of demand growth. Additionally, penetration of new medical device manufacturing firms has resulted in the expansion of China’s medical device industry. However, increasing prices of raw materials coupled with stringent governmental regulations in developed regions is anticipated to hamper market growth in the next few years.

In the manufacture of medical devices, rigid regulatory conditions need to be fulfilled for the safety of these devices, which is of paramount importance. Pairing cost-effectiveness and efficiency with sanitary and biocompatibility norms, which other products are not subject to, poses quality issues for these products. To address this, medical coatings such as lubricants, anti-microbial liquids, and water-repellant polymers are used on a multitude of devices depending on their application.

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In present times, the occurrence of disease epidemics in alarming numbers, increasing awareness about hygiene, and the ever-increasing global population are the reasons that are driving the global medical device coatings market. However, the market faces challenges of government regulations and volatile feedstock prices, which are impeding its growth.

Anti-microbial coatings dominated the medical device coatings market, accounting for over 40% of the global demand in 2013. Anti-microbial coatings resist the formation of microbial growth on the coating substrate. Hydrophilic coatings is estimated to be the fastest growing product segments during the forecast period. Hydrophilic coatings are gaining importance, as they provide sufficient wetting ability to facilitate smooth lubrication. Other medical device coatings (such as anti-thrombogenic coatings) are projected to exhibit favorable market growth over the next few years.

North America held the largest market for medical device coatings with over 45% share in 2013. Demand for medical device coatings in North America is estimated to remain stable by the end of 2020, owing to technological developments in the recent past. Europe constituted the second-largest market for medical device coatings in 2013. Growth of medical device coatings in the region is expected to decline by 2020, due to stringent governmental regulations imposed by the European Union.

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The end-use segments of the medical device coatings market are cardiology, gynecology, dentistry, ophthalmology, general surgery, neurology, orthopedics, and others. In 2013, general surgery exhibited the strongest demand for medical device coatings for syringes, guide wires, catheters, and others. Cardiovascular held the second largest share in the market in 2013 and is expected to display the fastest growth during the forecast period. Medical device coatings are used for angioplasty catheters, guide wires, occlusion devices, balloon catheters, coronary catheters, coronary stents, and other percutaneous devices.

Companies such as SurModics, Inc., Royal DSM N.V., Hydromer, Inc., Covalon Technologies Ltd., BioCoat, Inc., Merit Medical Systems, Inc. and Sono-Tek Corporation are the major manufacturers in the medical device coatings market. Most manufacturers offer anti-microbial, hydrophilic and drug-eluting coatings, among others.

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