Selbyville, Delaware, May 25, 2021 (GLOBE NEWSWIRE) -- According to credible sources, global medical grade coatings market size is estimated to register a y-o-y growth rate of 21.5% through 2027. Increasing demand for coatings for life-saving equipment in the medical industry to avert contamination and improve is propelling the industry growth.
Moreover, the report entails a comparative study of past data and present trends with latest developments for the prediction of growth rate and valuation of the market over the forecast period. Lastly, the impact of COVID-19 pandemic is studied to understand the disruptions caused in the market sphere with an overview of coping tactics that can be adopted by the companies to maintain their profits.
Moreover, rising prevalence of chronic ailments like cancer, arthritis, and cardiovascular diseases which need complicated surgical care, hence require surgical instruments that can operate through fragile areas of the body. Instruments like catheters, guidewires, implant delivery systems, and delivery sheaths are often used for minimally invasive procedures, thereby propelling the demand for medical grade coatings.
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For those unaware, medical devices and electronic components need protection to be safe and functional, that’s where the use of medical grad coatings comes in. Moisture, body fluids, or water can contaminate life-saving equipment and leave them useless. Medical coatings are applied on substrates like plastic, metals, glass, and rubber among others. They are cost saving and less time consuming while being extremely useful for safe & effective medical procedures.
Though, variable government regulations for medical devices will act as restraint for the growth of global medical coatings market, necessity for atomic layer deposition on complex medical equipment will pose as lucrative opportunity for industry players.
Overview of market segmentations:
Based on type, global medical grade coatings industry is segmented into antimicrobial, lubricants, and hydrophilic coatings. Speaking of application scope, the industry is divided into medical devices, medical equipment, implants, and tools among others.
Expounding regional landscape:
Seasoned analysts claim that North America medical grade coatings industry is reckoned to grow momentously over 2021-2027, on account of increased demand for home healthcare, advancement in medical technology, and rising exports of medical equipment.
Meanwhile, Asia Pacific market is predicted to witness significant growth during the forecast period, owing to increasing use of medical devices in countries like India and China due to surging patient pool.
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Global Medical Grade Coatings Market by Type (Revenue, USD Billion, 2017-2027)
- Antimicrobial
- Lubricants
- Hydrophilic Coatings
Global Medical Grade Coatings Market by Application Range (Revenue, USD Billion, 2017-2027)
- Medical Devices
- Medical Equipment
- Implants
- Tools
- Others
Global Medical Grade Coatings Market Regional Terrain (Revenue, USD Billion, 2017-2027)
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- RoAPAC
North America
- U.S.
- Canada
Europe
- UK
- France
- Germany
- Italy
- Spain
- RoE
Latin America
- Mexico
- Brazil
Rest of the World
Global Medical Grade Coatings Market Competitive Outlook (Revenue, USD Billion, 2017-2027)
- Dymax Corporation
- Applied Medical Coatings LLC
- Harland Medical Systems Inc.
- Merit Medical Systems Inc.
- Donwell Company Inc.
- Precision Coating Company Inc.
- Hangzhou Kangsheng Medical Equipments Co. Ltd.
- The DECC Company
- SurModics Inc.
- Yangzhou Fuda Medical Devices Co. Ltd.
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Medical Grade Coatings Market, by Region, 2019-2027 (USD Billion)
1.2.2. Medical Grade Coatings Market, by Type, 2019-2027 (USD Billion)
1.2.3. Medical Grade Coatings Market, by Application, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Medical Grade Coatings Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Medical Grade Coatings Market Dynamics
3.1. Medical Grade Coatings Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. The growing demand for life-saving devices
3.1.1.2. Rising incidence of arthritis, cancer, and cardiovascular diseases
3.1.2. Market Challenges
3.1.2.1. Varying government regulations for medical devices
3.1.3. Market Opportunities
3.1.3.1. Complex architecture of medical instruments necessitates atomic layer deposition
Chapter 4. Global Medical Grade Coatings Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Medical Grade Coatings Market, by Type
5.1. Market Snapshot
5.2. Global Medical Grade Coatings Market by Type, Performance - Potential Analysis
5.3. Global Medical Grade Coatings Market Estimates & Forecasts by Type 2018-2027 (USD Billion)
5.4. Medical Grade Coatings Market, Sub Segment Analysis
5.4.1. Lubricants
5.4.2. Antimicrobial
5.4.3. Hydrophilic coatings
Chapter 6. Global Medical Grade Coatings Market, by Application
6.1. Market Snapshot
6.2. Global Medical Grade Coatings Market by Application, Performance - Potential Analysis
6.3. Global Medical Grade Coatings Market Estimates & Forecasts by Application 2018-2027 (USD Billion)
6.4. Medical Grade Coatings Market, Sub Segment Analysis
6.4.1. Medical devices
6.4.2. Implants
6.4.3. Medical equipment
6.4.4. Tools
6.4.5. Others
Chapter 7. Global Medical Grade Coatings Market, Regional Analysis
Related Report:
Medical Products Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The medical products market size is set to gain tremendous momentum during the forecast period owing to the ongoing technological advancements and growing demand from the healthcare sector. Medical products are devices, instruments, appliances, apparatus, machines, reagents for software, in vitro use, material, or related – which is meant by the manufacturer to be used either alone or in combination with each other for a particular medical purpose by individuals.
These products play an essential role in the field of medicine and patient care. Due to advancement and innovation in medical technology, growing consumer awareness, as well as dependency of medical professionals on the medical devices, these products have become an integral part of the healthcare industry.
The use of medical products can be seen in hospitals which use a variety of tools and equipment so as to provide high quality treatment to patients. The medical products or equipment generally act as a line between patients and medical professionals.
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