Medical Coatings Market Volume Forecast and Value Chain Analysis 2016-2026
Medical Coating Market: Drivers
The increasing demand for coatings for life saving devices from medical industry is expected to increase the consumption of medical coatings. In addition, rising demand for life saving devices from emerging economies of Asia Pacific and Latin America is expected to increase the consumption of medical coatings. However, availability of substitutes, product aging, low shelf life and rising costs could hamper the growth of this market. In addition, varying government regulations for medical devices across countries may hamper the growth of medical device coating market to some extent.
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Medical Coating Market: Segmentation
Medical coatings market is segmented on the basis of type, application and region. By type, medical coating can be segmented into lubricants, antimicrobial and hydrophilic coatings. By application, the medical coating can be segmented into medical devices, implants, medical equipment and tools and others. On the basis of region, medical coating market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
Medical Coating Market: Regional Outlook
North America has the largest market share for medical coating, followed by Europe and Asia Pacific. However, Asia Pacific is expected to experience fastest growth during the forecast period. India and China are expected to be the major consumers of medical coatings in Asia Pacific due to presence of an established medical industry. Hong Kong, Australia, New Zealand, Republic of Korea, Japan, Vietnam, Malaysia and Indonesia are expected to be other major consumers of medical coatings in Asia Pacific. In addition, Latin America is expected to experience high growth due to rapid economic development and growth in medical industries. Argentina, Brazil and Peru are expected to be major consumers of medical coatings in Latin America.
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Medical Coating Market: Key Players
Large and medium medical equipment and pharmaceutical manufacturing companies dominate the medical coatings market. Some of the key players in this market are SurModics, the DECC Company, Hangzhou Kangsheng Medical Equipments Co., Ltd., Yangzhou Fuda Medical Devices Co., Ltd., Precision Coating Co., Inc. , Donwell Company, Inc., Merit Medical Systems, Inc., Harland Medical Systems , Applied Medical Coatings, LLC., Dymax Corporation , Raleigh Coatings , Abbott Laboratories , Biocoat Inc AeonClad , Bayer Material Science LLC, Boston Scientific Corporation , Covalon Technologies Ltd., Endura Coatings Ltd , Specialty Coating Systems Inc., and TheraSyn Pharmaceuticals Inc. among others.
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