Antimicrobial Coatings for Medical Devices Market size is $1.02 Billion in 2019, growing at a CAGR of 12.3% during the forecast period 2020-2025. The antimicrobial coating is a direct response to the rising focus on hygiene and the prevention of bacteria. Most infections associated with the implantation of Medical devices are caused by bacteria. Bacterial infections pose significant problems, rising human suffering and healthcare costs worldwide. Medical devices for human or animal use, externally or internally, can be used to cause bacterial, viral, fungal or other unwanted infections. In order to improve patient welfare as well as reduce the risk of infections in hospitals or clinics, healthcare providers conduct numerous research and development activities. Clinics and hospitals are challenged by pathogens that cause diseases associated with health care. To prevent this, medical devices are treated with antimicrobial agents thereby, driving the growth of the market.
Antimicrobial Coatings for Medical Devices Market Segment Analysis – By Type
In 2019, Orthopedic segment dominated the Antimicrobial Coatings for Medical Devices Market in terms of revenue is estimated to grow at a CAGR of 12.8% owing towards the rising ageing population, the ability of individuals to be more involved later in life, more prevalent obesity, and health insurance coverage expansion. To treat infection, surgeries and others, orthopedic surgeons use both surgical and nonsurgical means. According to NCBI, the most common type of surgery conducted in the operating room is now orthopedic operations, accounting for over 24% of operations in 2011. These infections require long-term antimicrobial therapy and also require the removal of the implant before completely removing the infection. Technologies for antimicrobial coating can help deliver anti-infective compounds to help reduce the risk of developing a post-implant infection abetting towards the growth of the market.
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Antimicrobial Coatings for Medical Devices Market Segment Analysis – Geography
In 2019, the North America region dominated Antimicrobial Coatings for Medical Devices Market in terms of revenue with a market share of 42% owing towards increasing cases of hospital-acquired diseases such as bloodstream infection (BSI), pneumonia, urinary tract infection (UTI), surgical site infection (SSI) and others. In the U.S., 1 in 20 patients get infections during hospital stays, according to the Centers for Disease Control and Prevention. The increasing awareness and preference of advanced antimicrobial coated medical devices over traditional patient safety procedure in this region aids to the market’s growth. Government has taken initiatives to promote technological advancements and initiatives to escalate the medical safety process are key factors in the growth of the Antimicrobial Coatings for Medical Devices market. Asia Pacific is expected to record the fastest growth rate during the forecast period 2020-2025 owing to the developing medical infrastructure in the region.
Antimicrobial Coatings for Medical Devices Market Drivers
Rising Incidences Of Cardiovascular Diseases
The rising incidences of cardiovascular diseases and disorders and increasing applications of antimicrobial coated medical devices are also anticipated to propel the demand for the antimicrobial coated medical devices which drives the global market. The advanced medical infrastructure and services are also expected to improve the market for antimicrobial coated medical devices. Also, the rising research and development activities and innovations in the antimicrobial coating process support the growth of the global market for antimicrobial coated medical devices.
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Antimicrobial Coatings for Medical Devices Market Challenges
Major Regulatory Concerns And Limitations On Metallic Coatings
Strict regulations by regulatory bodies and a lack of standardization resources in some developed and developing countries are some of the key factors that are expected to significantly curtail the growth of the target market. The high costs associated with the coating process, the limitations on metallic coatings such as silver coating and copper coating also limit demand for antimicrobial coating and restrict market development. Also, the absence of FDA guidance and regulations on antimicrobial coating techniques act as a barrier for the growth of this industry.
Antimicrobial Coatings for Medical Devices Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in the Antimicrobial Coatings for Medical Devices Industry. Antimicrobial Coatings for Medical Devices top 10 companies include Stellar Technologies, Tekra Corp., Cirtec Medical, Ppg Industries Inc., Biointeractions Ltd., Teleflex Medical Oem, Pva Tepla America Inc., TE Connectivity, Master Bond Inc. and Ast Products, Inc.
In October 2018, Cirtec Medical, a leading provider of design and contract manufacturing services for complex medical devices acquired Cactus Semiconductor, a low-power, mixed-signal application-specific integrated circuits (ASICs) full-service provider that specializes in miniaturized portable and implantable medical devices.
In September 2018, TE Connectivity launched online TE Store, which provides consumers with the opportunity to buy featured goods directly through TE.com or selected distributors, along with immediate access to product pricing, regular product inventory alerts, and flexible shipping and delivery options.
The increasing awareness about hospital-acquired infections, favorable research and funding environment is abetting the market’s growth.
Rising research and development activities for antimicrobial coated cardiovascular devices, high growth in geriatric population is likely to be the major driving factor for the market’s growth.
Asia-Pacific region is projected to record the fastest growth rate during the forecast period 2020-2025 owing to the developing medical infrastructure in the region.
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Email: [email protected]
Phone: (+1) 970-236-3677