The global medical device coatings market is forecast to be boosted between 2012 and 2016 thanks to a number of key factors, including the increased awareness of minimally invasive surgeries, and the growing use of super hydrophilic coating in medical devices. These factors are forecast to boost the industry by a CAGR growth rate of around 8.5% during the forecast period.
An increasingly ageing global population is expected to provide a number of opportunities to healthcare providers. The increased need by an ageing population for spinal, orthopaedic and dental medical devices will boost demand for medical device coatings.
The growing popularity of super-hydrophilic coatings is expected to help the industry increase revenues over the forecast period. These new coating are being preferred by medical device manufacturers as they have a number of advantages over the traditional medical device coatings. This type of coating is used on catheters that require lubrication when inserted in percutaneous trans-luminal coronary angioplasty surgery and for stent placement.
One of the key challenges to the medical device coatings industry over the coming years will be variation of regulations for the approval of medical devices in different countries. With the regulatory framework different in certain regions of the world, multi-national healthcare companies will be challenged. This challenge is expected to adversely affect growth in the industry over the forecast period.
The key players in the medical device coatings market include Hydromer Inc, Materion Corp, Surmodics Inc, Sono-Tek Corp.
For more information on the medical device coatings market, see the latest research: Medical Device Market Research
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