PR Newswire: news distribution, targeting and monitoring
Home Page > News Releases > APAC

Antimicrobial Coatings for Medical Devices Welcome Gradual Boost from Technology Advancements and Consumer Awareness of Benefits

2017-08-23 00:53
print
rss
-Medical device manufacturers must collaborate, partner or innovate with coating manufacturers to remain competitive, finds Frost & Sullivan's Visionary Science team

SANTA CLARA, Calif., Aug. 23, 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.

Click here for complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, a free interactive briefing with Frost & Sullivan's thought leaders.

"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.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

Global Antimicrobial Coating Materials Market for Medical Devices, Forecast to 2021
K176-39

Contact: 
Jaylon Brinkley 
Corporate Communications – North America
P: (210) 247.2481
F: (210) 348.1003
E: jaylon.brinkley@frost.com

http://www.frost.com

Source: Frost & Sullivan
Related Links:

Featured Video

Recent Releases

Banking/Financial Service Recent Releases

Chemical Recent Releases

Health Care/Hospital Recent Releases

Household/Consumer/Cosmetics Recent Releases

Infectious Disease Control Recent Releases

Medical Equipment Recent Releases

Textiles Recent Releases

Advanced Search
Search
  
  1. Products & Services
  2. News Releases
  3. Knowledge Center
  4. Journalists & Media
  5. Multimedia Theater
  6. Contact Us