Global Medical Device Coatings Market is Expected to Reach US$ 10.93 Bn in 2020: Transparency Market Research
Transparency Market Research has published a new report titled “Medical Device Coatings (Anti-microbial Coatings, Hydrophilic Coatings, Drug-eluting Coatings and Other Coatings) Market for General Surgery, Cardiovascular, Neurology, Gynecology, Orthopedics, Dentistry and Others End-users – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020.” According to the report, the global market for medical device coatings was valued at US$ 6.63 Bn in 2013 and is projected to reach US$ 10.93 Bn in 2020, expanding at a CAGR of 7.4% between 2014 and 2020.
Browse the full Medical Device Coatings Market Report: http://www.transparencymarketresearch.com/medical-device-coatings-market.html
Demand for medical device coatings was the largest in North America. The region held over 45% share of the global medical device coatings market in 2013. The market for medical device coatings is mature in the region; however, strategic collaborations with developing countries such as Brazil, India and China are anticipated to boost the overall growth of the market in the next few years. Europe was the second-largest market for medical device coatings in 2013. Growth of medical device coatings in the region is likely to decline by 2020, owing to stringent governmental regulations imposed on the coatings industry by the European Union. Asia Pacific is estimated to be the most lucrative market for medical device coatings during the forecast period. Significant foreign investment coupled with lenient governmental regulations is expected to drive market growth. Furthermore, penetration of new medical device manufacturing firms has resulted in the expansion of the medical device industry in China.
Demand for better medical facilities is expected to increase in the next few years due to increasing healthcare awareness and rising disposable income in emerging economies. Demand for medical device coatings is anticipated to rise during the forecast period, led by growth of the medical devices manufacturing industry in countries such as India, China, and South Korea. Medical device coatings are applied on various devices, including surgical instruments, in vitro diagnostic devices, artificial implants, electro-medical equipment and dental handling and ophthalmic instruments. The market for medical device coatings is projected to expand in Asia Pacific due to growing awareness about hygiene in the region.
Factors such as volatility in prices of raw materials and stringent environmental regulations have been hampering the market growth of medical device coatings in Europe over the past few years. Countries such as Germany, the U.K., France and Italy have been the major consumers of medical device coatings in the recent past. This trend is estimated to continue during the forecast period. In Rest of the World, South America accounts for the majority of demand for medical device coatings, owing to growing healthcare facilities and healthcare awareness among consumers. Demand for medical device coatings has increased in the region due to rising disposable income and positive approach of governments in countries such as Argentina and Brazil. Demand for medical device coatings is likely to rise in near future due to rise in epidemic and chronic diseases in Africa.
Browse the full Press Release of this report: http://www.transparencymarketresearch.com/pressrelease/medical-device-coatings-market.htm
Medical Device Coatings Market – Product Segment Analysis
- Anti-microbial coatings
- Hydrophilic coatings
- Drug-eluting coatings
- Others (Including anti-thrombogenic coatings)
Medical Device Coatings Market – End-user Analysis
- General surgery
- Others (Including ophthalmology)
Medical Device Coatings Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World (Including Latin America, the Middle East and Africa)
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