Transparency Market Research has published a new market study on the global medical device coatings market that delves into the developments in the said market from 2014 to 2020. According to the report’s findings, the medical device coatings market will reach a valuation of US$10.9 bn by 2020, increasing from US$6.6 bn in 2013 at a CAGR of 7.4% for the period from 2014 to 2020. The report, titled “Medical Device Coatings Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” is available for sale on the company website.

In the manufacture of medical devices, rigid regulatory conditions need to be fulfilled for the safety of these devices, which is of paramount importance. Pairing cost-effectiveness and efficiency with sanitary and biocompatibility norms, which other products are not subject to, poses quality issues for these products. To address this, medical coatings such as lubricants, anti-microbial liquids, and water-repellant polymers are used on a multitude of devices depending on their application.

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In present times, the occurrence of disease epidemics in alarming numbers, increasing awareness about hygiene, and the ever-increasing global population are the reasons that are driving the global medical device coatings market. However, the market faces challenges of government regulations and volatile feedstock prices, which are impeding its growth.

By product, the segments of the market are anti-microbial coatings, drug-eluting coatings, hydrophilic coatings, and others (includes anti-thrombogenic coatings). In 2013, the anti-microbial product segment accounted for 40% of the global market. Nevertheless, in the 2014-2020 period, hydrophilic coatings are expected to be the fastest growing product segment.

The end-use segments of the medical device coatings market are cardiology, gynecology, dentistry, ophthalmology, general surgery, neurology, orthopedics, and others. In 2013, general surgery exhibited the strongest demand for medical device coatings for syringes, guide wires, catheters, and others. Cardiovascular held the second largest share in the market in 2013 and is expected to display the fastest growth during the forecast period. Medical device coatings are used for angioplasty catheters, guide wires, occlusion devices, balloon catheters, coronary catheters, coronary stents, and other percutaneous devices.

In terms of geography, North America, Asia Pacific, Europe, and Rest of the World are the regional segments of this market. In 2013, North America stood as the clear leader with a share of more than 45% in the global market. With the region boasting consistent advancement, it is expected to retain its lead till the end of the forecast period.

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In 2013, Europe stood as the second largest regional segment of the medical device coatings market, however, the region is expected to witness displacement by the end of the forecast period. Stringent regulations imposed by the European Union will result in a reduction in the market share of the Europe regional medical device coatings market in the coming years.

Some top companies that operate in the global medical device coatings market are Royal DSM N.V., Sono-Tek Corporation, Hydromer Inc., Precision Coating Company Inc., AdvanSource Biomaterial Corporation, and PPG Industries, among others.

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