Research Reports
Medical Device Coatings Market Size To Reach USD 18.50 Billion By 2027 – Reports And Data
The global Medical Device Coatings market is forecast to reach USD 18.50 Billion by 2027, according to a new report by Reports and Data. Growing demand for coatings to cover the surfaces of various medical instruments, such as cardiovascular, neurovascular, and gynecological, is anticipated to boost demand for the coating of medical devices in the coming years.…
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The global Medical Device Coatings market is forecast to reach USD 18.50 Billion by 2027, according to a new report by Reports and Data. Growing demand for coatings to cover the surfaces of various medical instruments, such as cardiovascular, neurovascular, and gynecological, is anticipated to boost demand for the coating of medical devices in the coming years. Rising health care spending and increased access to early diagnosis by expanding markets and building hospitals and clinics to cater for increasing Ischemic heart disease, respiratory problems, and cases of coronavirus worldwide would raise demand in the coming years. This would have a positive impact on the growth of the sector.
Technological advances, including the implementation of antimicrobial micro-RESIST technology for orthopedic implants and catheters, which remove microorganisms, would increase market growth during the forecast period. Also, increasing inclination for implantable and non-implantable medical equipment and increasing numbers of private and public hospitals will accelerate the demand of the market.
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It is anticipated that the untapped potential of developing markets, such as China and India, and the rise in the market for multifunctional coatings will present various market growth potential. Strict regulatory policies regarding MDC and time-consuming government approval are anticipated to hinder the market growth. Also, increased availability of good healthcare, high geriatric population, and increased need for early diagnosis and non-invasive therapies are expected to boost demand for medical devices, which will, in turn, boost market growth during the forecast period.
The COVID-19 impact:
Owing to the market instability, the current COVD-19 pandemic around the globe has adversely impacted the production of medical device covering. Coating manufacturers can’t supply essential raw materials from outside countries. Also though some of the states have restored service, shipping problems and raw material shortages are cascading through the industry. In the short term, this is considered to harm the marginal profitability of producers of medical device coating. Nevertheless, the rising need for safety devices or other medical supplies for diagnosis and limiting coronavirus distribution is projected to have a positive effect on the development of the industry in the coming years.
Key participants include:
Surmodics, Inc., Covalon Technologies Ltd., Royal DSM, Hydromer. Inc., Precision Coatings Co. Inc., AST Products Inc., Abbott Laboratories, Biocoat Inc., and Harland Medical Systems Inc., among others.
Further key findings from the report suggest
- Coatings for antimicrobials held the highest market share in 2019. This is due to their ability to shield the soil from pathogens, including spores, viruses, bacteria, and germs. Growing numbers of hospitals, along with expanding demand for health care facilities, generate a need for sophisticated devices and equipment, which will increase demand for the product.
- Owing to the increasing preference for implants and cardiac pacemakers, the cardiovascular application segment held the most significant revenue share of 26.33 percent in 2019. Growing demand for drug-eluting coatings for coronary stents would also boost growth in the market.
- Asia-Pacific has strong growth potential to expand the demand for coatings for medical devices due to improved accessibility and affordability of medical implants and other products and enhanced spending on healthcare and science. Because of economic progress, this area is projected to see strong business growth.
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For the purpose of this report, Reports and Data has segmented into the Global Medical Device Coatings market on the basis of Product, Material, application, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Hydrophilic coatings
- Antimicrobial coatings
- Drug-eluting coatings
- Anti – thrombogenic coatings
- Others
Material Outlook (Revenue, USD Billion; 2017-2027)
- Metal
- Ceramic
- Polymer
Application Outlook (Revenue, USD Billion; 2017-2027)
- Neurology
- Orthopedics
- General surgery
- Cardiovascular
- Dentistry
- Gynaecology
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S
- Canada
- Europe
- Germany
- U.K
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
- Latin America
- Brazil
- Rest of LATAM
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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The post Medical Device Coatings Market Size To Reach USD 18.50 Billion By 2027 – Reports And Data first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
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