An Incisive, In-depth Analysis on the Medical Grade Coatings Market
This study offers a comprehensive, 360 degree analysis on the Medical Grade Coatings market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Medical Grade Coatings market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
The report covers comprehensive information about market trends, value (US$ Mn) and volume (KT) projections, recent developments, and dynamics in the global medical grade coatings market for the period between 2019 and 2027.
The global medical grade coatings market is estimated to reach US$ 8.5 Bn, by value, by the end of the forecast period while growing at a CAGR of 6.4%. The increasing demand for medical devices and the need for biocompatible medical devices are some of the key factors expected to boost the demand for medical grade coatings in the global market.
Growing Medical Devices Market Pushing the Medical Grade Coatings Market
In the past few years, the medical device sector is performing well owing to the important contribution of the healthcare industry across the globe. From dentures to hip joints, diagnostic X-ray system scanners to sticking plasters, and in-vitro diagnostic devices that identify infections or monitor diabetes, all types of medical devices need medical grade coatings. A medical device is crucial in preventing, monitoring, overcoming disabilities, and diagnosing & treating illnesses. Therefore, the demand for medical devices is expected to grow with a significant rate in the developing countries across the globe. Medical grade coatings play an important role in preventing the entry of bacterial or any other infection through medical devices into the body.
At the end of the forecast period, the PTFE segment of the medical grade coatings market is anticipated to grow and become 1.7X of its value size in 2019. This segment of medical grade coatings is projected to create an incremental dollar opportunity worth US$ 1,371.3 Mn over the forecast period.
Growing Focus on Biocompatible Medical Devices to Support Medical Grade Coatings Market Growth
Biocompatible material-based medical devices are designed to interface with biological systems for treating, evaluating, augmenting, or replacing any tissues, organ, or function of the body. The need for biocompatible medical devices is pushing the growth of the global medical grade coatings market.
The anti-microbial type medical grade coatings market is projected to grow at a CAGR of 7.8%, in terms of value, over the forecast period. That apart, medical grade coatings also help to maintain wettability of the medical devices, which is another factor that will drive the growth of the medical grade coatings market.
Operational Benefits of Medical Grade Coatings Pushing Market Growth
To ensure patient safety as well as extend the lifecycle of the medical device, medical grade coatings are used. Medical grade coatings can be used on specific parts of a device or used on the entire device. Medical grade coatings ensure ease of use and maintain the wettability of medical devices. Medical grade coatings are also used to eliminate corrosion as well as wear and tear of medical equipment. Medical grade coatings also increase the lubricity, and reduce the risk of injury or infection during the operation of the medical device. Some of the operational benefits are projected to drive the global medical grade coatings market over the forecast period.
China and India to Remain High Growth Countries in the Global Medical Grade Coatings Market
The consumption of medical grade coatings in China and India is expected to grow at a significant growth rate during the forecast period owing to the increasing consumption of medical devices. After the US, Germany, and Japan, China and India are the major consumers of medical grade coatings. Rapid growth in the healthcare industry in India and China is increasing the demand for medical devices. Such factors are projected to create a robust platform for the growth of the China and India medical grade coatings market by the end of the forecast period. Collectively, in terms of value, China and India are expected to grow and become 2.65x over the forecast period.
Medical Grade Coatings Market – Competition Landscape
Globally, the medical grade coatings market is highly fragmented with the top market players holding single digit market share as of 2017. The top ten players in the global medical grade coatings market are projected to collectively hold a market share between 25% and 30%.
In the past few years, the medical grade coatings market has witnessed significant market developments from the competition perspective. Acquisitions, collaborations, and expansion of production capacities are some of the key strategies being adopted by market players to expand and sustain in the global medical grade coatings market.
In August 2015 Hydromer Inc. has launched three new Medical Ultra-Hydrophilic coatings precisely to stay hydrated longer for Gynecological, Gastrointestinal catheters, and Urological devices
In June 2017, Harland Medical Systems Inc. introduced low particulate hydrophilic coating for medical devices. That aim to provide high durability without sacrificing superior lubricity
Some of the key manufacturers covered under this study on the global medical grade coatings market are DowDupont Inc., Royal DSM, Surmodics Inc., Hydromer Inc., Biocoat Inc., Precision Coating Co. Inc., AST Products Inc., Covalon Technologies Ltd., Harland Medical Systems Inc., Specialty Coatings Systems Inc., Medicoat Ag, Aculon Inc., and Medtronic.
Key Questions Answered in the Global Medical Grade Coatings Report
How has the medical grade coatings market evolved over the past four years?
What are some of the prevailing market dynamics in the medical grade coatings market?
What shape is the medical grade coatings market expected to take in terms of volume and value during the study period?
What are the competition developments and trends in the medical grade coatings market?
What are the important key challenges, opportunities, and improvement factors for medical grade coatings market players?
What are some of the underlying macro-economic and industry factors impacting the growth of the medical grade coatings market?
What are the important market positioning and key strategies of key medical grade coatings manufacturers as per the market taxonomy?
How is the competition structured at present and how has it evolved in the medical grade coatings market over the past few years?
Medical Grade Coatings Market: Report Description
This study on the medical grade coatings market offers an eight-year forecast for the global medical grade coatings market from 2019 to 2027. This study of the medical grade coatings market considers 2018 as the base year with market values estimated for 2019 and a forecast developed for the duration of 2019 to 2027. The Compound Average Growth Rate (CAGR) in the medical grade coatings market study has been represented from 2019 to 2027.
This medical grade coatings market study covers various perspectives of the market, including market dynamics, value chain analysis, competition analysis, regional and segmental growth comparison, and macro-economic and industry growth analysis, along with segment-level projections in a comprehensive manner. As per the findings of the study and perspectives of industry participants, the global medical grade coatings market is projected to grow at a CAGR of 6.4% between 2019 and 2027, in terms of value. The growing healthcare industry and the high demand for medical devices are some of the factors positively impacting the uptake of medical grade coatings in the global market.
Medical grade coatings range from lubrication and anti-microbial liquids to water-resistant polymer. Each type of medical grade coatings are used on medical devices for many applications. Many types of medical grade coatings are used on medical devices such as lubricants, hydrophilic, hydrophobic, anti-microbial, and drug-eluting, among others. Lubricant coatings are used on medical devices that require extra assistance in besting inserted into the biological opening or other medical devices. Hydrophilic surface coatings are used on many medical devices such as tubes, as these require more wettability in order to properly function with body tissues and fluids. Antimicrobial coatings are used on medical devices that come in contact with sensitive bodily fluids such as blood or urine. These devices need to be sanitized with antimicrobial coatings to prevent the infection from external bacteria spreading into the body.
The report on the medical grade coatings market carefully analyses the market at a regional and global level through market segmentation on the basis of key parameters such as by material, application, type, formulation, and region. This medical grade coatings market report is structured to facilitate the reader to develop a detailed understanding of the market. The medical grade coatings market report begins with the definition of the market, followed by the market background, market dynamics, and an analysis of the market by key segments, regional analysis of the market, and the competition landscape. Each section of the medical grade coatings market report includes a quantitative and qualitative assessment of the market on the basis of historical developments, facts, and key opinions collected from various industry participants through dedicated interviews and trends in the market.
Medical Grade Coatings Market: Segmentation
The medical grade coatings market report begins with an introduction of the market, which includes the market taxonomy and product definition with respect to the global medical grade coatings market assessment. In the following section, the medical grade coatings market report describes the market development background, covering industry factors and macro-economic factors affecting the medical grade coatings market for the base year considered for the study.
The next section of the medical grade coatings market report discusses the dynamics of the market such as drivers (demand and supply side), restraints, opportunities, and trends impacting the market growth at a global level. The market potential for manufacturers has been presented in the following section of the same chapter. This section also includes an assessment of the impact of market dynamics on the global medical grade coatings market.
Subsequent sections of the report provide value (US$ Mn) and volume (Consumption in KT) projections for the medical grade coatings market on the basis of the above-mentioned segments at a global level. The values for the global market represented in these sections have been agglomerated by collecting data and information at the regional level.
All the above sections evaluate the present medical grade coatings market scenario and growth prospects in the global medical grade coatings market while the forecast presented in the sections assesses the market size in terms of volume and value.
Additionally, it is imperative to note that, in an inconsistent global economy, we not only conduct forecasts in terms of CAGR, but furthermore analyse the market on the basis of crucial parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the medical grade coatings market and identify the accurate opportunities available.
In order to understand the key market segments in terms of growth and demand for medical grade coatings across concerned regions, the report has developed an attractiveness index, which will help providers identify real market opportunities.
Another significant feature of the medical grade coatings market report is the analysis of all the key segments in the medical grade coatings market, sub-segments, and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales and delivery perspective in the medical grade coatings market.
In the concluding section of the medical grade coatings market report, a competitive landscape of the medical grade coatings market has been included to provide report audiences with a dashboard view, categorised on the basis of providers present in the value chain, their presence in the medical grade coatings market, and key differentiating factors and strategies. The primary category of providers covered in the report includes medical grade coatings manufacturers. This section in the medical grade coatings market report is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the medical grade coatings market. Examples of some of the key competitors covered in this report include DowDupont Inc., Royal DSM, Surmodics Inc., Hydromer Inc., Biocoat Inc., Precision Coating Co. Inc., AST Products Inc., Covalon Technologies Ltd., Harland Medical Systems Inc., Specialty Coatings Systems Inc., Medicoat Ag, Aculon Inc., and Medtronic.
Medical Grade Coatings Market Reports - Table of Contents
Chapter 1 Global Medical Grade Coatings Market - Executive Summary
Chapter 11 Company Profiles 176
Chapter 12 Assumptions and Acronyms 188
Chapter 13 Research Methodology 189
Chapter 14 Disclaimer 190