Global Medical Device Coatings Market: Snapshot

The global medical device coatings market is prophesied to expect high growth prospects birthing with latest technological developments reducing design complexities and improving the use of medical devices. High awareness about hygiene and increased incidence of hospital-acquired infection (HAI) could support the demand in the global medical device coatings market.

On the other hand, high prevalence of epidemic diseases is foreseen to create more demand in the global medical device coatings market. High population growth could be another factor augmenting the demand in the global medical device coatings market. Rising foreign investments could develop as a powerful factor propelling the growth of the global medical device coatings market.

Antimicrobial Coatings to Dominate with High Incidence of Microbial Infections

The global medical device coatings market could see a classification into antithrombogenic, drug-eluting, hydrophilic, and antimicrobial coatings. Among these, hydrophilic coatings are predicted to show a faster rise in the global medical device coatings market. However, antimicrobial coatings could dominate the global medical device coatings market on the basis of share.

The global medical device coatings market could increase growth with rising number of neurology, orthopedics, ophthalmology, general surgery, dentistry, gynecology, and cardiology cases. Among these end-user segments, general surgery is prognosticated to create larger demand in the global medical device coatings market. On the other hand, the cardiology market for medical device coatings could show quicker growth in the near future. Thus, there could be high demand for medical device coatings for occlusion devices, percutaneous devices, coronary stents, balloon catheters, guide wires, and angioplasty catheters.

The global medical device coatings market could also gain growth with rising applications in private and public hospitals. There could be strong demand in the global medical device coatings market due to the growing preference for non-implantable and implantable medical equipment in the recent years. The demand could further increase with enhanced biocompatibility between living tissues and medical devices achieved by medical device coatings.

Strict Government Regulations to Cause Europe to Lose Market Share in Future

Geographically, the global medical device coatings market is envisaged to find North America growing stronger in foreseeable future. Impressive technological advancement in the medical sector could catapult the medical device coatings market in the region. Europe is envisioned to tread upon the heels of North America in terms of market share. However, implementation of tight government policies in the region could place Europe in a weak position in the global medical device coatings market.

On the other hand, Asia Pacific is foretold to show an aggressive rise in the global medical device coatings market. There could be colossal demand for medical device coatings in the region due to the rise of Southeast Asia, India, and China in terms of market growth. Swelling demand for cardiovascular and dentistry treatments in these countries could be another factor augmenting the demand in the Asia Pacific medical device coatings market. Strong advancement of the medical device industry and growing penetration of new medical devices in China are forecast to create a whole lot of opportunities in the region.

Increasing geriatric population in Brazil and rising healthcare awareness are envisioned to contribute to the growth of the medical device coatings market in the Rest of the World.

Some of the leading players of the global medical device coatings market are Sono-Tek Corporation, Specialty Coating Systems, Inc., and Royal DSM N.V.

The report analyzes and forecasts the medical device coatings market on the global and regional level. The study provides historical data of 2013 along with forecast from 2014 to 2020 based on volume (Kilo Tons) and revenue (US$ Mn). It includes drivers and restraints for the medical device coatings market along with their impact on demand during the forecast period. The report also offers an analysis of opportunities available in the medical device coatings market on the global and regional level. Drivers, restraints and opportunities mentioned in the report are justified through quantitative and qualitative data, which has been verified by primary and secondary resources.
 
We have included a detailed value chain analysis in order to provide a comprehensive view of the medical device coatings market. Value chain analysis provides details such as integration in the market, distribution channels, applications and end-users for the market. An analysis of Porter’s Five Forces model for the medical device coatings market has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein end-users in the market are benchmarked based on their market size, compounded annual growth rate (CAGR), general attractiveness and company market share. We have also incorporated company market share analysis to provide detailed analysis of the market.
 
The study provides a decisive view of the medical device coatings market by segmenting it in terms of product segment and end-users. Product segment and end-users have been analyzed based on present and future trends, and the CAGR for the market has been estimated between 2014 and 2020. Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific and Rest of the World (RoW). Similar segmentation is also provided for major countries in the regions mentioned above. The report also includes demand for individual product segment and end-users across all the regions.
 
The report provides detailed competitive outlook that includes profiles of key players operating in the global medical device coatings market. Key players profiled in the report include SurModics, Inc., Royal DSM N.V., Hydromer, Inc., Covalon Technologies Ltd., BioCoat, Inc., Merit Medical Systems, Inc., AST Products, Inc., PPG Industries Inc., Hydromer Inc. and Sono-Tek Corporation. Company profiles include attributes such as company overview, brand/product portfolio, financial overview, business strategy, and key/recent developments related to the market. 
 
Constant currency rates have been considered while forecasting the market. Prices of medical device coatings and product segments vary in each region; hence, a similar volume-to-revenue ratio does not follow for each individual region. The same price for each end-user has been taken into account while estimating and forecasting market revenue on the global basis. Regional average price has been considered while breaking down the market by product segment and end-user in each region. Models and estimates have been used to produce comprehensive data sets when hard data was not available. We have used the bottom-up approach by considering individual product and end-user segments and integrating them to arrive at the global market. Product segment and end-users have been further bifurcated using the top-down approach to derive the consumption of products in the regional market.
 
In order to compile the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities. 
The market has been segmented as below:
 
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
  • Cardiovascular 
  • Neurology
  • Gynecology
  • Orthopedics
  • Dentistry
  • Others (Including ophthalmology)
Medical Device Coatings Market - Regional Analysis
  • North America
  • Europe
  • Asia Pacific
  • Rest of the World (Including Latin America, the Middle East and Africa)
.