Boston, MA -- (SBWIRE) -- 11/30/2016 -- Medical Coatings Market by Type (Hydrophilic and Hydrophobic Coating), Application (Medical Devices, Implants, Medical Equipment & Tools), and Region (Asia-Pacific, Central & Eastern Europe, North America, Western Europe and RoW) - Global Forecast to 2021
The global medical coatings market is projected to reach USD 15.15 billion by 2021 at CAGR of 7.04% from 2016 to 2021. This high growth is fueled by the increasing demand for medical coatings from end-use industries such as healthcare, medical devices, and others.
"Metals - Fastest growing substrate type market of medical coatings"
Metals are widely used in the manufacture of medical devices and implants. For instance, some of the most common orthopedic surgeries implant metallic implants. These range from simple screws and wires to fracture fixation plates and artificial joints for hips, shoulders, and knees. The most commonly used metals for medical device applications are stainless steel, silver, commercially pure titanium, and titanium alloys.
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"Silicones: Largest material type market of medical coatings"
Silicones are widely used in medical devices because of their biocompatibility in a variety of physical forms. Silicone based coatings are used to encapsulate and seal permanent implants such as heart pacemakers and are also used to coat temporary implants such as catheters and surgical drains. Thin elastomeric silicon coatings are also used to serve as replacements for soft tissues by forming an envelope to encapsulate gels and normal saline solutions.
"In terms of volume, Asia-Pacific is projected to be the fastest-growing region for medical coatings, by 2021"
The medical coatings market in the Asia-Pacific region is expected to grow at the fastest CAGR from 2016 to 2021, in terms of volume, and was led by China and Japan, in 2015. The Asia-Pacific region was the third largest market, in terms of volume, in 2015. This growth is due to the growing awareness and demand for better medical and healthcare facilities in this region. Also, rise in income levels and the purchasing power of consumers, is playing an important role in the growth of the medical coatings market in this region.
The global market size of medical coatings estimated in this study has been validated through primary interviews with various industry experts, globally. These primary sources have been divided into three categories: by company type; by designation; and by region.
-By Company Type - Tier 1 - 22%, Tier 2 - 33% and Tier 3 - 45%
-By Designation - C level - 11%, Director level - 30%, Others - 59%
-By Region - North America - 11%, Europe - 22%, APAC - 11%, RoW - 56%
The report also provides company profiles and competitive strategies adopted by the major market players such as Royal DSM (Netherlands), Hydromer Inc. (U.S.), Surmodics Inc. (U.S.), AST Products Inc. (U.S.), and Covalon Technologies Ltd. (Canada), Abbott Laboratories (U.S.), Precision Coatings Inc. (U.S.).
Reasons to buy this report:
From an insight perspective, this research report has focused upon various levels of analyses-industry analysis (industry trends), market share analysis of top players, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the medical coatings market; high-growth regions; and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
-Market Penetration: Comprehensive information on medical coatings devices offered by the top players in the medical coatings market
-Product Development/Innovation: Detailed insights on emerging technologies, research & development (R&D) activities, and new product launches in the medical coatings market
-Market Development: Comprehensive information on lucrative emerging markets - the report analyzes the medical coatings market across regions
-Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the medical coatings market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the medical coatings market
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