The global antimicrobial medical device coatings market size to be valued at USD 3 billion, growing at a CAGR of 7% during 2021-2026.
CHICAGO, ILLINOIS, UNITED STATES, April 19, 2021 /EINPresswire.com/ — In-depth analysis and data-driven insights on the impact of COVID-19 included in this global antimicrobial medical device coatings market report.
The antimicrobial medical device coatings market is expected to grow at a CAGR of over 7% during the period 2020−2026.
Key Highlights Offered in the Report:
1. Increasing prevalence of hospital acquired infections (HAIs) and COVID-19 pandemic has led to an unprecedented demand for antimicrobial coatings on medical devices.
2. North America is dominating the antimicrobial medical device coating market and is expected to witness the highest incremental growth of around USD 424 million in 2020.
3. Metallic coatings accounted for the highest share and is likely to grow at the highest CAGR of over 7% during the forecast period.
4. Catheters holds the largest share compared to other medical devices which likely to witness highest incremental growth of over USD 629million and grow at highest CAGR of around 7% during the forecast period.
5. COVID-19 pandemic has increased the demand for antimicrobial coatings on medical devices by reducing the spread of infection and several medical device manufacturers have incorporated such coatings on their products during the pandemic.
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by material, devices, and geography
• Competitive Landscape – 7 key vendors and 10 other vendors
Antimicrobial Medical Device Coatings Market – Segmentation
• Metal-based antimicrobials can provide sustainability solutions toward infectious diseases. These solutions offer high efficacy at low dosage levels without the development of resistance—metal-based solutions, which silver and copper have displayed a wide-spread commercial deployment for few decades. Silver has been a long-time antimicrobial agent applicable in several fields, ranging from household to medical applications.
• The rise in catheter-associated infections is likely to increase the application of antimicrobial coatings. Due to the growth of microbial flora and biofilm formation, catheters related diseases are on the rise. Catheters are the most prominently used medical devices to which antimicrobial coatings are necessary.
• Implantable devices (IMD) are among the largest and rapidly growing sectors in the medical device market. Their demand is expected to increase due to the increase in the aging population and chronic disease growth. The use of versatile coating technologies such as electrophoretic deposition (EPD), a rapid and cost-effective method than plasma-based techniques, is expected to increase the demand for implant devices during the forecast period.
Antimicrobial Medical Device Coatings Market by Material
Antimicrobial Medical Device Coatings Market by Device
• Implantable Devices
Antimicrobial Medical Device Coatings Market – Dynamics
Medical device surface coating equipment is the absolute necessary apparatus for protecting devices from corrosion and provide lubricity, durability, and biocompatibility. Coating equipment is used to apply and cure a variety of coatings, from lubricant coatings that reduce friction to antimicrobial coatings that resist contamination. The most common ways to coat a device are through dipping and spray coating. With dipping, devices are submerged in a vat/container of coating and then removed for drying and post-coating operations. During a spray coating process, an automatic machine is used to spray the surface area of the device with the designated coating. The choice of device coating process depends on factors such as design and material makeup. For instance, if a device has multiple angles, simply dipping it may be insufficient as the entire surface area may not be covered. Further, if the chemical/polymer makeup of the device or coating is complex, a curing process may need to be incorporated to ensure that the coating sticks.
Key Drivers and Trends fueling Market Growth:
• Advent of COVID-19 Pandemic
• Emergence of Nanoparticle Coating Technology
• Increasing Use of Minimally Invasive Surgeries
• Growing Demand for Silver-based Medical Device Coatings
Antimicrobial Medical Device Coatings Market – Geography
North America accounted for the largest share of over 44% in the global antimicrobial medical device coatings market in 2020. An effective decrease in HAIs, as well as the increasing healthcare spending on medical devices, is likely to boost the demand for antimicrobial coatings in the region. Furthermore, the growing exports of medical devices, along with advancements in medical technology and increasing demand for home healthcare, are also contributing to the market growth in the region. Compared to any other region in the world, North America has the highest concentration of medical coating manufacturers. Few companies are increasingly engaging in strategic collaborations with the manufacturer, which is driving the market growth. Strong collaboration between the US and Canadian medical device industries on account of relatively similar quality, geographic proximity and safety standards should stimulate regional antimicrobial coatings market growth.
Antimicrobial Medical Device Coatings Market by Geography
• North America
• South Korea
• Latin America
• Middle East & Africa
• Saudi Arabia
• South Africa
• AST Products
• Specialty Coating Systems (SCS)
Other Prominent Vendors
• Harland Medical Systems
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Source: EIN Presswire