2014-02-14 17:10:03 - Global Medical Device Coatings Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Medical Device Coatings market is to grow at a CAGR of 8.55 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased awareness of minimally invasive surgeries. The Global Medical Device Coatings Market has also been witnessing an increased use of super hydrophilic coating in medical devices. However, the regulation for medical devices varies across countries and could pose a challenge to the growth of this market.
Medical devices that require excellent water attraction and optical clarity have super-hydrophilic coatings. Super-hydrophilic coatings are increasingly being preferred by medical device manufacturers for use on their products because these coatings have several advantages. This type of coating is used on catheters that require
lubrication when inserted in percutaneous trans-luminal coronary angioplasty surgery and for stent placement. Hence, the growing popularity of super-hydrophilic coatings is a new trend that is expected to have a strong impact on the market.
The increase in the aging population worldwide is expected to provide several opportunities for healthcare providers. The increasing aging population is driving the need for spinal, orthopedic, and dental medical devices, thereby resulting in a strong demand for medical device coatings. Most of the medical devices in the field of orthopedic and spinal care are implants that require high-quality coatings. Thus, the increasing aging population with a high need for medical devices and implants is expected to propel the growth of the market during the forecast period.
A key challenge in this market is the variation in regulations for the approval of medical devices in many countries. The regulatory framework is not the same worldwide, and this is a serious challenge for multinational healthcare companies, which is expected to adversely affect the growth of the Global Medical Device Coatings market during the forecast period.
The key vendors dominating this space include Hydromer Inc., Materion Corp., Surmodics Inc., and Sono-Tek Corp.
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