Chemicals Industry Today

Medical Device Coating Market | Competitive Analysis and Industry Segments Poised for Strong Growth with CAGR of 5.16% in Future 2023

Global Medical Device Coating Market Information: by Type (Antimicrobial, Drug-Eluting, Hydrophilic, and Anti Therombogenic), by Application (Cardiovascular, Orthopedics, Neurology, Gynecology, and Others), and by Region (Asia Pacific, Europe, North America, Latin America, and Middle East & Africa) - Forecast till 2023
Published 13 February 2018
Based on the Geography, the Medical Device Coating Market is divided into five key regions: Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among the above mentioned regions, the North America region has acquired more than one-third of the market share in terms of value and volume, and is expected to grow at a considerable CAGR to reach USD 3,191.9 million by the end of 2023.

The Asia Pacific Medical Device Coating Market is consists of China, Japan, India, and other Asia Pacific countries. Comparatively, China dominates the market over other countries in the region. China is projected to grow at the highest CAGR in this region during the forecast period. Some of the substantial factors attributed to the market growth in China are increasing number of end-use industries in the region along with the presence of number of producers coupled with the technological advancements in the healthcare sector. India and Japan are following the Chinese market in terms of consumption demand for Medical Device Coating. Japan accounted for the second largest market in terms of value in Asia Pacific region as of 2016. The demand for Medical Device Coating in India is steadily surging due to growing public investment in the healthcare sector and rising number of medical tourist, which is demanding better facilities and equipment.

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Europe accounted for the second largest share of the Global Medical Device Coating Market. In terms of value, the regional market is estimated to reach USD 2,763.0 million by 2023 at a considerable CAGR. Germany accounted for the largest market share in Europe and is expected to grow at the highest CAGR among the other countries in this region during the forecast period.

In terms of market size, North America is the largest region in the Global Medical Device Coating Market, which is holding 33% share of the global market. The U.S. is the largest market in North America and is estimated to be the second largest country in the global medical device coating market throughout the forecast period. Moreover, Asia Pacific market projected to witness growth above average over the forecast period owing to continuous penetration of end users in this market.

Key Players
  • Surmodics, Inc. (U.S.)
  • Materion Corporation (U.S.)
  • Hydromer Inc (U.S.)
  • Sono-Tek Corp (U.S.)
  • Speciality Coating Systems Inc (U.S.)
  • Royal DSM N.V (The Netherlands)
  • Precision Coating Company, Inc (U.S.)
  • Biocoat Incorporated (U.S.).
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