Medical device manufacturers must collaborate, partner or
innovate with coating manufacturers to remain competitive, finds
Frost & Sullivan's Visionary Science team
SANTA CLARA, California,
Aug. 22, 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