SANTA CLARA, Calif., Aug. 22, 2017 /PRNewswire/ -- The global antimicrobial coating market for medical devices is experiencing steady growth. Technology advancements, consumer awareness of the benefits of antimicrobial coatings, and the need to tackle the rising resistance of pathogens to antibiotics are factors driving growth. The Asia-Pacific and the Middle East markets will be hotspots, while Europe will witness sluggish growth due to rising cost pressures and a maturing market. To remain competitive in a highly fragmented market, medical device manufacturers are increasingly collaborating with various entities across the supply chain, especially coating service providers.
Global Antimicrobial Coating Materials Market for Medical Devices, Forecast to 2021, analysis from Frost & Sullivan's Visionary Science Growth Partnership Service program, finds that the global antimicrobial coating materials market generated revenues of $701.3 million in 2016 and is expected to register a compound annual growth rate (CAGR) of 7.9 percent through 2021. The study provides an analysis of current and expected market developments, drivers, restraints, and revenue forecasts across segments and end-user groups. Market share and competitive landscape for major players such as BASF SE, Microban, Sciessent, Hydromer, Covalon, Bio Interactions, and AST Products are provided.
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"There is a growing need for efficient and nosocomial infection-free, post- operative care; therefore, medical device manufacturers are looking toward the adoption of disruptive multi-metallic coatings that contain more than one metallic component and polyelectrolyte coatings in a wide variety of applications," said Frost & Sullivan Visionary Science Principal Analyst Raghu Tantry. "These developments are likely to increase the unit price of materials and coatings, propelling market growth."
Growth in the global antimicrobial coating materials market for medical devices will be supported by:
- Manufacturer focus on developing diverse end applications through product innovation and improved efficacy;
- Collaborations among universities, coating manufacturers, medical device OEMs, and regulatory bodies;
- High demand for reprocessed medical devices, along with an increase in remote-based healthcare devices;
- Global increase in geriatric population, resulting in higher occurrence of cardiovascular diseases amplifying the need for operative procedures; and
- Rising disposable income in developing nations.
"Consumers are becoming cost conservative, hence antimicrobial coatings that are sold at higher price points may experience a reduction in volume sales," noted Tantry. "Furthermore, medical device original equipment manufacturers' (OEMs') reluctance to adopt antimicrobial coatings due to cost containment measures will impede market growth."
Frost & Sullivan's study covers antimicrobial coating materials for medical device segments such as metallic, polymeric and organic, as well as end applications, including catheters, implantable devices, surgical devices, and others.
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Global Antimicrobial Coating Materials Market for Medical Devices, Forecast to 2021
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