Industry News

GIA Releases Comprehensive Global Report on Coatings for Medical Devices Markets

Published on 2014-05-21. Author : SpecialChem

GIA has announced the release of a comprehensive global report on Coatings for Medical Devices markets. Global market for Coatings for Medical Devices is projected to reach US$10.7 billion by 2020, driven by increasing number of surgical interventions and the resulting rise in demand for diagnostic and surgical devices, and growing focus on shorter hospital stays by reducing the risk of nosocomial infections.

Microbial growth and contamination is an issue that assumes significance in the healthcare industry, given the high risk of and susceptibility to microbial growth in healthcare settings. Frequent contact with blood and other body fluids, continuous contact with patients, and invasive use of equipment in body cavities makes medical devices and instruments prone to microbial contamination. Contamination of surgical and diagnostic devices and instruments is a key reason for secondary infections in hospitalized patients, which increases duration of hospitalization and adds to the overall healthcare costs. Coatings, in this regard, have come to play an indispensable role in providing protection not only to devices, but also to patients.

Coatings play a crucial role in enhancing the functionalities of medical devices as they impart significant properties such as biocompatibility, lubricity, wettability, wear-resistance, and antimicrobial ability. Sustained demand for diagnostic medical devices augurs well for the coatings market. In addition, increasing adoption of medical implants is boosting usage of a wide variety of coatings. Aging population and rising incidence of age-related conditions such as osteoarthritis are contributing considerably to the unprecedented rise in demand for implant procedures. Growing preference for minimally invasive surgeries is also spurring demand for coatings, since these procedures require devices to have lubricious coatings so as to facilitate easy insertion and manoeuvring within the body. Drug-eluting stents is emerging as another key application area for coatings, with biodegradable DES coatings that address the coated-stent associated complications such as late stent thrombosis, hypersensitivity, and inflammation, gaining increasing adoption in this segment.

As stated by the new market research report on Coatings for Medical Devices, the United States represents the largest market, worldwide. Asia-Pacific represents the fastest growing market with a CAGR of 6.3% over the analysis period, driven by the huge population base and large under-served markets which offer enormous growth prospects for coated medical devices. Aging population and associated rise in incidence of cardiovascular diseases, joint-related disorders, and nosocomial infections stand to generate increased revenues in the market.

Medical coatings range from anti-microbial liquids and lubrications to water repellent polymers, with each type of coating finding use in an array of devices for various applications. While lubricant coatings are used on devices that need extra support for insertion into body cavities, antimicrobial coatings are mainly used on devices that come into contact with body fluids like urine and blood, to reduce the risk of infection. Demand for hydrophilic surface coatings is surging with the emergence of new-age hydrophilic coatings that have low particulate and low friction characteristics. Nanocoatings are also poised to make rapid gains in the coming years, driven by their ability to continuously release active substances against bacteria and other microorganisms.

Major players covered in the report includes AdvanSource Biomaterials Corp, AeonClad Coatings, Armoloy of Connecticut Inc., AST Products Inc., Biophan Technologies Inc., Carmeda AB, Royal DSM, Hemoteq AG, Hydromer Inc., Specialty Coating Systems Inc., N2 Biomedical, and SurModics Inc., among others.

The research report titled "Coatings for Medical Devices: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, mergers, acquisitions and other strategic industry activities of major companies worldwide. The report provides market estimates and projections for geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Coating types analyzed in the report include Active Coatings, Protective Coatings, Optical Coatings and Nanotechnology Coatings.

About Global Industry Analysts, Inc.(GIA)

Global Industry Analysts, Inc. (GIA) is one of the reputed publishers of off-the-shelf market research. Recognized as one of the most consistently accurate forecasting companies in the world, GIA currently serves more than 9,500 companies from 36 countries worldwide. The company was founded in 1987, initially recognized globally as a research boutique specializing in the medical industry. Over the past 25 years, the company expanded its coverage and now publishes extensively upon more than 180 major industries.

Source: Global Industry Analysts, Inc.(GIA)

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