HOME Top Market Reports 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

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

By: marketsandmarkets.com
Publishing Date: October 2016
Report Code: CH 3023

 

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The medical coatings market is projected to reach USD 15.15 Billion by 2021 at CAGR of 7.04% between 2016 and 2021.

The objectives of the study are:

  • To define, describe, and project the medical coatings market on the basis of coating type, material type, application, and region
  • To provide the drivers, restraints, opportunities, and challenges for the market
  • To study individual growth trends, growth prospects, and contribution to the overall market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To analyze competitive developments such as acquisitions, new product launches, partnerships, agreements and collaborations, regional expansions, and R&D activities

 Various secondary sources such as Factiva, American Medical Association, World Medical Association, Indian Medical Association and Bloomberg Businessweek, medical coating-related documents by various companies, and so on have been used to identify and collect information that is useful for this extensive commercial study of the global medical coatings market. The primary sources include experts from related industries, who have been interviewed to verify and collect critical information as well as to assess the growth prospects of the market. The top-down approach has been implemented to validate the market size, in terms of value, and volume. The exact values of the overall market size and individual market sizes have been determined and confirmed in this study with the data triangulation procedure and validation of data through primary interviews.

Medical Coatings Market

To know about the assumptions considered for the study, download the pdf brochure

The medical coatings value chain starts with the raw material suppliers. The raw materials required to manufacture medical coatings are manufactured by companies such as Quantum Silicones (U.S.), and BASF SE (Germany). The second node of the value chain consists of medical coatings manufacturers 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.). The third node in the value chain consists of distribution and marketing of medical coatings for particular applications such as medical devices, implants, and others.

Target Audience

This study identifies the prospective high growth market segments for the next two to five years to help stakeholders prioritize their efforts and investments. The stakeholders in the medical coatings market include:

  • Medical coatings manufacturers
  • Medical coatings traders, distributors, and suppliers
  • Raw material suppliers
  • Government and research organizations
  • Healthcare industry competitors
  • Medical associations

Scope of the Report:

The report analyzes the global medical coatings market in different applications and provides the market demand for respective regions. The report also provides a market overview and industry trends of the global medical coatings market.

  • By Type
    • By Coatings Type
      • Hydrophilic Coatings
      • Hydrophobic Coatings
    • By Chemistry Type
      • Silicones
      • Fluoropolymers
      • Parylene
      • Others
    • By Substrate Type
      • Metals
      • Ceramics
      • Polymers
  • By Application
    • Medical Equipment & Tools
    • Medical Devices
    • Implants
    • Others

Available Customizations: The following customization options are available in the report:

  1. Country-level, by application, and by coating type analysis, and forecast

analysis of medical coatings, by application and by coating type market at the country-level in every region

  1. Company Information

Analysis and profiles of additional global as well as regional market players (up to three)

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Exceutive Summary (Page No. - 28)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in Medical Coatings Market
    4.2 Medical Coatings Market Gowth, By Application
    4.3 Medical Coatings Market, By Region
    4.4 Medical Coatings Market in Asia-Pacific, By Countries and Application, 2015
    4.5 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Type
           5.2.2 By Application
           5.2.3 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Rising Global Population, Per Capita Income, and Healthcare Awareness
                    5.3.1.2 Increasing Demand for Implantable Devices
                    5.3.1.3 Shift Towards Minimally Invasive Medical Procedures
                    5.3.1.4 Rising Awareness About Hospital-Acquired Infections (HAI)
           5.3.2 Restraints
                    5.3.2.1 Increasing Raw Material Price and Healthcare Costs
                    5.3.2.2 Low Shelf Life
           5.3.3 Opportunities
                    5.3.3.1 Growing Market for Multifunctional Coatings
                    5.3.3.2 Growing Healthcare Investment in Emerging Regions
                    5.3.3.3 Advancement in the Medical Device and Equipment Markets
           5.3.4 Challenges
                    5.3.4.1 Stringent Regulatory Policies and Time-Consuming Regulatory Approval
                    5.3.4.2 Variations in Regulations Across Countries

6 Industry Trends (Page No. - 47)
    6.1 Introduction
    6.2 Value Chain Analysis
           6.2.1 Raw Material Suppliers
           6.2.2 Coating Manufacturers
           6.2.3 Device Manufacturers
           6.2.4 Contract Manufacturers
           6.2.5 Healthcare Providers
           6.2.6 Value Addition
    6.3 Porter’s Five Forces Analysis
           6.3.1 Bargaining Power of Suppliers
           6.3.2 Bargaining Power of Buyers
           6.3.3 Threat of Substitutes
           6.3.4 Threat of New Entrants
           6.3.5 Intensity of Rivalry
    6.4 Pest Analysis
           6.4.1 Political
           6.4.2 Economic
           6.4.3 Social
           6.4.4 Technological

7 Medical Coatings Market, By Type (Page No. - 55)
    7.1 Introduction
    7.2 Medical Coatings, By Coating Type
           7.2.1 Hydrophilic Coatings
           7.2.2 Hydrophobic Coatings
    7.3 Medical Coatings, By Substrates Type
           7.3.1 Metals
                    7.3.1.1 Silver
                    7.3.1.2 Titanium
           7.3.2 Ceramics
           7.3.3 Polymers
    7.4 Medical Coatings, By Chemistry Type
           7.4.1 Silicones
           7.4.2 Fluoropolymers
                    7.4.2.1 Polytetrafluoroethyleneptfe
                    7.4.2.2 Polyvinylidene Fluoride
           7.4.3 Parylene

8 Medical Coatings Market, By Application (Page No. - 63)
    8.1 Introduction
    8.2 Medical Devices
    8.3 Medical Implants
           8.3.1 Orthopedic Implants
           8.3.2 Dental Implants
           8.3.3 Cardiovascular Implants
    8.4 Medical Equipment & Tools
    8.5 Others

9 Medical Coatings Market, By Region (Page No. - 69)
    9.1 Introduction
    9.2 North America
           9.2.1 U.S.
           9.2.3 Mexico
    9.3 Western Europe
           9.3.1 Germany
           9.3.2 U.K.
           9.3.3 France
           9.3.4 Italy
           9.3.5 Spain
           9.3.6 Rest of Western Europe
    9.4 Asia-Pacific
           9.4.1 China
           9.4.2 Japan
           9.4.3 India
           9.4.4 South Korea
           9.4.5 Australia
           9.4.6 Rest of the APAC
    9.5 Central & Eastern Europe
           9.5.1 Russia
           9.5.2 Turkey
           9.5.3 Poland
           9.5.4 Rest of Central & Eastern Europe
    9.6 RoW
           9.6.1 Brazil
           9.6.2 Saudi Arabia
           9.6.3 South Africa
           9.6.4 Rest of RoW

10 Competitive Landscape (Page No. - 132)
     10.1 Overview
     10.2 Product Benchmarking, By Top Five Market Players
     10.3 Market Share Analysis
     10.4 Competitive Situations and Trends
             10.4.1 Partnerships & Agreements, & Collaborations, 2012–2016
             10.4.2 New Product Launches,2012-2016
             10.4.3 Expansions,2012-2016
             10.4.4 Acquisitions,2012-2016

11 Company Profiles (Page No. - 141)
(Overview, Financial*, Products & Services, Strategy, and Developments)
     11.1 Royal DSM
     11.2 Hydromer Inc.
     11.3 Surmodics Inc.
     11.4 Specialty Coating Systems Inc.
     11.5 Biocoat Inc.
     11.6 Covalon Technologies Ltd.
     11.7 Abbott Laboratories
     11.8 AST Products Inc.
     11.9 Precision Coatings Co. Inc.
     11.10 Harland Medical Systems Inc.
     11.11 Other Market Players

*Details Might Not Be Captured in Case of Unlisted Companies

12 Appendix (Page No. - 166)
     12.1 Discussion Guide
     12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.3 Introducing RT: Real-Time Market Intelligence


List of Tables (123 Tables)

Table 1 Market Segmentation of Medical Coatings, By Type
Table 2 Market Segmentation of Medical Coatings, By Application
Table 3 Medical Coatings Market Size, By Coating Type, 2014–2021 (USD Million)
Table 4 Medical Coatings Market Size, By Region, 2016–2021 (USD Million)
Table 5 Medical Coatings Market Size, By Region, 2016–2021 (KT)
Table 6 North America: Medical Coatings Market Size, By Country, 2016–2021 (USD Million)
Table 7 North America: Medical Coatings Market Size, By Country, 2016–2021 (KT)
Table 8 North America: Medical Coatings Market Size, By Coating Type, 2016–2021 (USD Million)
Table 9 North America: Medical Coatings Market Size, By Coating Type, 2016–2021 (KT)
Table 10 North America: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 11 North America: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 12 U.S.: Economic Outlook (2015)
Table 13 U.S.: Medical Coatings Market Size, By Coating Type, 2016–2021 (USD Million)
Table 14 U.S.: Medical Coatings Market Size, By Coating Type, 2016–2021 (KT)
Table 15 U.S.: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 16 Canada : Economic Outlook (2015)
Table 17 Canada: Medical Coatings Market Size, By Coating Type, 2016–2021 (USD Million)
Table 18 Canada: Medical Coatings Market Size, By Coating Type, 2016–2021 (KT)
Table 19 Canada: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 20 Canada: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 21 Mexico: Economic Outlook (2015)
Table 22 Mexico: Medical Coatings Market Size, By Coating Type, 2016–2021 (KT)
Table 23 Mexico: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 24 Mexico: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 25 Western Europe: Medical Coatings Market Size, By Country, 2014-2021 (USD Million)
Table 26 Western Europe: Medical Coatings Market Size, By Coating Type, 2014-2021 (USD Million)
Table 27 Western Europe: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 28 Western Europe: Medical Coatings Market Size, By Application, 2014-2021 (KT)
Table 29 Germany: Economic Outlook (2015)
Table 30 Germany: Medical Coatings Market Size, By Coating Type, 2014-2021 (USD Million)
Table 31 Germany: Medical Coatings Market Size, By Coating Type, 2014-2021 (KT)
Table 32 Germany: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 33 Germany: Medical Coatings Market Size, By Application, 2014-2021 (KT)
Table 34 U.K.: Economic Outlook (2015)
Table 35 U.K.: Medical Coatings Market Size, By Coating Type, 2014-2021 (USD Million)
Table 36 U.K.: Medical Coatings Market Size, By Coating Type, 2014-2021 (KT)
Table 37 U.K.: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 38 France: Economic Outlook (2015)
Table 39 France: Medical Coatings Market Size, By Coating Type, 2014-2021 (USD Million)
Table 40 France: Medical Coatings Market Size, By Coating Type, 2014-2021 (KT)
Table 41 France: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 42 Italy : Economic Outlook (2015)
Table 43 Italy: Medical Coatings Market Size, By Coating Type, 2014-2021 (USD Million)
Table 44 Italy: Medical Coatings Market Size, By Coating Type, 2014-2021 (KT)
Table 45 Italy: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 46 Italy: Medical Coatings Market Size, By Application, 2014-2021 (KT)
Table 47 Spain: Economic Outlook (2015)
Table 48 Spain: Medical Coatings Market Size, By Coating Type, 2014-2021 (USD Million)
Table 49 Spain: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 50 Rest of Western Europe: Medical Coatings Market Size, By Coating Type, 2014-2021 (USD Million)
Table 51 Rest of Western Europe: Medical Coatings Market Size, By Coating Type, 2014-2021 (KT)
Table 52 Rest of Western Europe: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 53 Rest of Western Europe: Medical Coatings Market Size, By Application, 2014-2021 (KT)
Table 54 Asia-Pacific: Medical Coatings Market Size, By Coating Type, 2014–2021 (USD Million)
Table 55 Asia-Pacific: Medical Coatings Market Size, By Application, 2014–2021 (USD Million)
Table 56 Asia-Pacific: Medical Coatings Market Size, By Country, 2014–2021 (USD Million)
Table 57 Asia-Pacific: Medical Coatings Market Size, By Country, 2014–2021 (Kilotons)
Table 58 China: Economic Outlook (2015)
Table 59 China: Medical Coatings Market Size, By Coating Type, 2014–2021 (USD Million)
Table 60 China: Medical Coatings Market Size, By Application, 2014–2021 (USD Million)
Table 61 Japan: Economic Outlook (2015)
Table 62 Japan: Medical Coatings Market Size, By Coating Type, 2014–2021 (USD Million)
Table 63 Japan: Medical Coatings Market Size, By Coating Type, 2014–2021 (Kilotons)
Table 64 Japan: Medical Coatings Market Size, By Application, 2014–2021 (USD Million)
Table 65 India: Economic Outlook (2015)
Table 66 India: Medical Coatings Market Size, By Coating Type, 2014–2021 (USD Million)
Table 67 India: Medical Coatings Market Size, By Coating Type, 2014–2021 (Kilotons)
Table 68 India: Medical Coatings Market Size, By Application, 2014–2021 (USD Million)
Table 69 South Korea: Economic Outlook (2015)
Table 70 South Korea: Medical Coatings Market Size, By Coating Type, 2014–2021 (Kilotons)
Table 71 South Korea: Medical Coatings Market Size, By Application, 2014–2021 (USD Million)
Table 72 South Korea: Medical Coatings Market Size, By Application, 2014–2021 (Kilotons)
Table 73 Australia: Economic Outlook (2015)
Table 74 Australia: Medical Coatings Market Size, By Application, 2014–2021 (Kilotons)
Table 75 Rest of the APAC: Medical Coatings Market Size, By Coating Type, 2014–2021 (USD Million)
Table 76 Rest of the APAC: Medical Coatings Market Size, By Coating Type, 2014–2021 (Kilotons)
Table 77 Rest of the APAC: Medical Coatings Market Size, By Application, 2014–2021 (USD Million)
Table 78 Central & Eastern Europe: Medical Coatings Market Size, By Country, 2014-2021 (USD Million)
Table 79 Central & Eastern Europe: Medical Coatings Market Size, By Country, 2014-2021 (KT)
Table 80 Central & Eastern Europe: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 81 Central & Eastern Europe: Medical Coatings Market Size, By Application, 2014-2021 (KT)
Table 82 Russia: Economic Outlook (2015)
Table 83 Russia: Medical Coatings Market Size, By Coating Type, 2014-2021 (KT)
Table 84 Russia: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 85 Russia: Medical Coatings Market Size, By Application, 2014-2021 (KT)
Table 86 Turkey: Medical Coatings Market Size, By Coating Type, 2014-2021 (USD Million)
Table 87 Turkey: Medical Coatings Market Size, By Coating Type, 2014-2021 (KT)
Table 88 Turkey: Medical Coatings Market Size, By Application, 2014-2021 (USD Billion)
Table 89 Poland: Medical Coatings Market Size, By Coating Type, 2014-2021 (USD Million)
Table 90 Poland: Medical Coatings Market Size, By Coating Type, 2014-2021 (KT)
Table 91 Poland: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 92 Poland: Medical Coatings Market Size, By Application, 2014-2021 (KT)
Table 93 Rest of the Central & Eastern Europe: Medical Coatings Market Size, By Coating Type, 2014-2021 (USD Million)
Table 94 Rest of the Central & Eastern Europe: Medical Coatings Market Size, By Coating Type, 2014-2021 (KT)
Table 95 Rest of the Central & Eastern Europe: Medical Coatings Market Size, By Application, 2014-2021 (USD Million)
Table 96 Rest of Thecentral & Eastern Europe: Medical Coatings Market Size, By Application, 2014-2021 (KT)
Table 97 RoW: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 98 RoW: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 99 RoW: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 100 RoW: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 101 RoW: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 102 RoW: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 103 Brazil: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 104 Brazil: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 105 Brazil: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 106 Brazil: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 107 Saudi Arabia : Economic Outlook (2015)
Table 108 Saudi Arabia: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 109 Saudi Arabia: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 110 Saudi Arabia: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 111 Saudi Arabia: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 112 South Africa : Economic Outlook (2015)
Table 113 South Africa : Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 114 South Africa : Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 115 South Africa : Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 116 Rest of RoW: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 117 Rest of RoW: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 118 Rest of RoW: Medical Coatings Market Size, By Application, 2016–2021 (USD Million)
Table 119 Rest of RoW: Medical Coatings Market Size, By Application, 2016–2021 (KT)
Table 120 Partnerships & Agreements, & Collaborations, 2012–2016
Table 121 New Product Launches, 2012–2016
Table 122 Expansions, 2012–2016
Table 123 Acquisitions, 2012–2016
 
 
List of Figures (37 Figures)
 
Figure 1 Medical Coatings: Market Segmentation
Figure 2 Research Design: Medical Coating
Figure 3 Market Size Estimation: Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation
Figure 6 North America is Expected to Lead the Medical Coatings Market Till 2021
Figure 7 Medical Devices is Expected to Be the Largest Market for Medical Coatings, 2016 - 2021
Figure 8 Hydrophillic Coatings Captured the Largest Market Share, 2015 (Kilotons)
Figure 9 Asia-Pacific to Have the Highest Growth Rate During the Forecast Period (USD Million)
Figure 10 Asia-Pacific to Be the Fastest-Growing Region Between 2016 and 2021
Figure 11 Medical Devices Accounted for Largest Market Share in Asia-Pacific in 2015
Figure 12 Market Segmentation of Medical Coatings, By Region
Figure 13 Growing Demand for Implantable Devices is Expected to Drive the Market
Figure 14 Rise in World Population is Driving the Medical Coatings Market Indirectly
Figure 15 Value Chain Analysis: Direct Distribution is the Most Preferred Strategy
Figure 16 Porter’s Five Forces Analysis
Figure 17 North America Followed By Western Europe Lead the Hydrophobic Coatings Market (2016–2021)
Figure 18 Medical Devices Lead the Medical Coatings Market
Figure 19 Asia-Pacific is the Fastest Growing Region for Medical Device Application (2016–2021)
Figure 20 Regional Snapshot (2016–2021): India and China are Emerging as Strategic Destinations
Figure 21 North American Market Snapshot: U.S. Accounted for the Largest Share in Medical Tubing Market, 2016–2021
Figure 22 U.S.: Population Aged 65 and Above (1990–2050)
Figure 23 Asia-Pacific Market Snapshot (2015): Hydrophilic Coating Type to Drive the Market in Asia-Pacific
Figure 24 Companies Adopted New Product Launches, Acquisitions and Agreements & Partnership as the Key Growth Strategies From 2012 to 2016
Figure 25 Surmodics and AST Products Inc. are Considered as A Forerunner in the Medical Coatings Market
Figure 26 Market Share Analysis: Top 3 Market Players
Figure 27 2013 and 2012 Witnessed Maximum Developments
Figure 28 Royal DSM: Company at A Glance
Figure 29 Royal DSM: SWOT Analysis
Figure 30 Hydromer Inc.: Company at A Glance
Figure 31 Hydromer: SWOT Analysis
Figure 32 Surmodics Inc.: Company at A Glance
Figure 33 Surmodics: SWOT Analysis
Figure 34 Specialty Coatings Systems Inc.: SWOT Analysis
Figure 35 Biocoat Inc.: SWOT Analysis
Figure 36 Covalon Technologies Ltd.: Company at A Glance
Figure 37 Abbott Laboratories: Company at A Glance

The global medical coatings market is projected to grow at a CAGR of 7.04% from 2016 to reach USD 15.15 Billion by 2021. The market is highly driven by the awareness about healthcare acquired infections and minimally invasive surgery. Another prime factor that is expected to bring momentum to this market is the increasing ageing population globally and rising awareness about health-care and government initiatives to improve the quality of healthcare infrastructure especially in the emerging countries.

The global medical coatings market is broadly classified on the basis of coating types into hydrophilic and hydrophobic coatings. The hydrophilic coatings market is expected to grow at a high rate and CAGR from 2016 to 2021, in terms of value and volume. In addition to this, there are other types of coatings based on their performance and functions such as antimicrobial, protective, optical, lubricious, pharmacological and so on.

In terms of application, medical coatings are widely used to coat medical devices and implants. Medical devices captured the largest share of the market in 2015 and are expected to grow at the highest CAGR from 2016 to 2021. These coatings are majorly used in medical devices such as cardiovascular, optical, orthopedic, endoscopic, and radiology devices. Coatings used for various applications need to be compatible with the substrate on which these are applied and should be able to withstand the sterilization, cleaning, and other conditions in which the devices might be used.

North America accounted for the largest share of the global medical coatings market and is projected to continue leading the market during the forecast period while the Asia-Pacific region is projected to witness the highest CAGR during the forecast period due to the better lifestyles of the populations in the region. North America accounted for the largest share in 2015, due to rising aged population and focused interest of the government in providing quality healthcare facilities.

Medical Coatings Market

The rising cost of healthcare and low shelf life of some products act as a major restraint in the global medical coatings market. Also, the rising cost of coating raw materials, such as silicone rubber, polytetrafluoroethylene  (PTFE), and so on, are inhibiting the growth of the global medical coatings market to some extent. In order to overcome these restraints, governments are taking major steps and initiatives and many players are focusing on new and innovative product development and technologies, with the help of collaborations, partnerships and agreements as key strategies.

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.), and Precision Coatings Inc. (U.S.) focus on expanding their regional reach. Other development strategies adopted by market players are, new product launches, agreements & collaborations, and mergers & acquisitions.

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