DUBLIN--(BUSINESS WIRE)--The "Medical Coatings market - Growth, Trends, and Forecasts (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The market for medical coatings is expected to grow at a CAGR of over 7% during the forecast period of 2019-2024.
One of the major factors driving the market studied is the increasing global population with health issues. However, fluctuation in raw material prices is likely to restrain the market.
- Increasing awareness regarding advancement of medical treatments is also likely to boost the demand for medical coatings during the forecast period.
- Growing healthcare investments in emerging economies is likely to act as an opportunity for the market growth in future.
- In 2018, North America accounted for the highest market share and is likely to dominate the global market during the forecast period.
Major Market Trends
Anti-Microbial Coating Type is Likely to Witness the Highest Growth Rate
- The antimicrobial coatings industry is expanding and is currently regarded as a billion-dollar sector. The sector is being developed to prevent the growth of bacteria and germs on several surfaces.
- Antimicrobial coatings have a massive market in the North American region which accounts for a major chunk of the market.
- In addition, these coatings are helping in preventing the growth and spread of bacteria and germs on medical instruments; antimicrobial coatings can enhance the hygiene in the healthcare facilities.
- Moreover, if antimicrobial coatings are coated on countertops, the active cleaning agents that are characteristically used to clean health care facilities are not required.
- The usage of the antimicrobial coatings will help to decrease the environmental effects of cleaning within medical facilities considerably.
- Hence owing to the above-mentioned reasons, anti-microbial coating is likely to witness the highest growth rate.
North America to Dominate the Global Market
- North America is estimated to witness tremendous growth rate over the forecast period in the medical coatings market.
- Due to rising aged population and focused interest of the government in providing quality healthcare services, the United States remained the largest medical device market in the world.
- The US manufacturers of medical devices control more than half of the Canadian medical device market and the Canadian market is sophisticated and mature, with a strong demand for high-quality medical technologies.
- This is mostly due to geographic proximity and similarities in safety and quality standards between the two countries.
- Hence, owing to the above-mentioned factors, the North America region is likely to dominate the global market during the forecast period.
The market for medical coatings market is fragmented partially and consists of high number of players. Key players in the market include DSM, AST Products, Hydromer, and Biocoat Incorporated, among others.
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Global Population with Health Issues
4.1.2 Increasing Awareness Regarding Advancement of Medical Treatments
4.2.1 Fluctuation in Raw Material Prices
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
4.5 Price Trends
5 MARKET SEGMENTATION
5.1.4 Other Coating Chemistry Types
5.2.1 Anti-microbial Coating
5.2.2 Hydrophilic Coating
5.2.3 Drug-eluting Coating
5.2.4 Anti-thrombogenic Coating
5.2.5 Other Coating Types
5.3.1 Medical Device
5.3.2 Medical Implants
5.3.3 Medical Equipment and Tools
5.3.4 Other Applications
184.108.40.206 South Korea
220.127.116.11 ASEAN Countries
18.104.22.168 Rest of Asia-Pacific
5.4.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of the Europe
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle East & Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East & Africa (MEA)
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 AST Products Inc.
6.4.3 Hydromer Inc.
6.4.4 Biocoat Incorporated
6.4.5 Covalon Technologies Ltd.
6.4.6 Precision Coating Company Inc.
6.4.7 Surmodics Inc.
6.4.8 Freudenberg Group
6.4.9 Medicoat AG
6.4.10 Merit Medical Coatings B.V.
6.4.11 Harland Medical Systems Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Healthcare Investments in Emerging Economies
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