The report Medical Coatings Market defines and segments the market with an analysis and forecast of value by type, such as hydrophilic and hydrophobic.
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The report also identifies the driving and restraining factors for medical coatings market with an analysis of drivers, restraints, opportunities, and strengths. The market is segmented and the value has been forecasted on the basis of important regions, such as Asia-Pacific, North America, Europe, and Rest of the World (ROW). Further, the market is segmented and the demand and value are forecasted on the basis of various key applications of medical coatings, such as medical devices, implants, medical equipments & tools, and other applications.
Aging population is the key market for medical coatings
The medical coatings market is segmented into two types: hydrophilic and hydrophobic coatings. These types have application specific demands that are differentiated by cost, and efficiency. These coatings may be used in combinations on medical products as required or individually.
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Aging population is increasing the demand of healthcare facilities. As life expectancy increase in different countries, the demand for better healthcare facilities increases. Better healthcare facilities demands advanced and patient friendly methods. All these factors drive the demand for medical coatings.
Medical coatings market value is expected to reach $13.23 Billion by 2019
The market for medical coatings, in terms of value, is projected to reach $13.23 Billion by 2019, witnessing a CAGR of 6.50% between 2014 and 2019. In terms of value, North America dominated the medical coatings market in 2013 and is expected to register a steady CAGR by 2019. High medical products manufacturing in the North American region leads to high consumption of medical coatings in the region. Due to rising medical products manufacturing in the region, the medical coatings market is projected to witness a high growth rate in Asia Pacific. The medical coatings market in Europe is projected to register a steady growth in coming decade due to aging population and improvement in medical facilities in many countries. The medical coatings market in ROW is expected to show slow growth rate as the region does not manufacture many medical devices.
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North America and Europe together are expected to account for around 70% of the medical coatings market, in terms of value, by 2019
North America is the largest market for medical coatings currently and the same is expected to continue till 2019. The European market is expected to show slightly higher growth rate than North America. The Asia-Pacific market is expected to show the highest growth rate but the market is currently lower than North America and Europe. The U.S., Germany, China, and Japan are the hub of medical products manufacturing in the world and are the major consumers of medical coatings.
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