Oct 18, 2017   SOURCE: BusinessWire

Coatings Market for Medical Devices Industry - Segmentation Analysis and Forecast by Technavio

According to the latest market study released by Technavio, the global coatings market for medical devices industry is expected to grow at a CAGR of more than 8% during the predicted period.

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Technavio has published a new report on the global coatings market for medical devices industry from ...

Technavio has published a new report on the global coatings market for medical devices industry from 2017-2021. (Graphic: Business Wire)

This research report titled ‘Global Coatings Market for Medical Devices Industry 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.

The Americas and Europe are the key countries producing medical devices. This is because most of the technological advancements have been made in these regions. Recent developments, such as drug-eluting coatings and controlled-released drugs have led to an increase in the use of medical devices across the globe. The demand for medical device coatings will be higher in APAC due to rising awareness of available surgical procedures and high growth of the medical industry. The Americas are producing the maximum number of medical devices in comparison with the other regions.

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Technavio’s analysts categorize the global coatings market for medical devices industry into four major segments by type. They are:

  • Hydrophilic coating
  • Drug-eluting coating
  • Antimicrobial coating
  • Others

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The top three type segments of the global coatings market for medical devices industry are discussed below:

Global antimicrobial coatings market for medical devices industry

Medical devices and components must be free from pathogens and microbes. If medical devices are not properly coated, it may lead to HAIs, which are the main cause of deaths of patients in many countries. To overcome this critical challenge, the medical devices used for treatments, surgeries, and as implants are coated with coatings that have antimicrobial properties.

According to Chandrakumar Badala Jaganathan, a lead paints, coatings, and pigments research analyst from Technavio, “Antimicrobial coatings can be used to restrict the growth of microbes and pathogens on medical devices. Two types of functionality material are used in antimicrobial coatings, polymers and metals. Metals include silver, copper, palladium, titanium, and zirconia. Polymers that can be used as antimicrobial coatings for medical devices are chitosan and Teflon.”

Global drug-eluting coatings market for medical devices industry

Over the last decade, the demand for medical devices coated with drug-eluting coatings has been hugely preferred over uncoated medical devices. Drug-eluting coatings in medical devices are gaining importance because they reduce the incidence of angiographic restenosis and the need for target vessel revascularization.

“Polymer and drug composition that is coated on the medical devices enhance device performance and fasten the recovery of patients. The rate of drug elution depends on the coating materials, the interaction of the drug with the coating materials, and coating process. Drug-eluting stents are widely used in the treatment of cardiovascular diseases,” says Chandrakumar.

Global hydrophilic coatings market for medical devices industry

Hydrophilic coatings are used on medical devices to prevent the damage to smooth tissues and parts of organs. They are used on medical devices, such as catheters and guidewires, which are used during surgery or diagnosis. These coatings provide excellent lubricity and reduce the friction between the device and tissues.

Harland has developed Lubricent UV hydrophilic coatings that enable catheters and guidewires to be navigated through the most difficult anatomies. AST developed HydroLAST coating process in which hydrophilic polymers are grafted permanently to the surface of a hydrophobic substrate. The carboxyl, hydroxyl, and amine functionalities present in hydrophilic polymers serve to bind water loosely.

The top vendors highlighted by Technavio’s research analysts in this report are:

  • Covestro
  • Materion
  • Royal DSM
  • Sono-Tek
  • Surmodics

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