Industry Background:
Medical Device Coating is Used for Coating Medical Devices to Serve Protective & Decorative Purpose. Apart From Providing Protection From Physical Protection, It Aids in Protection From Bacteria, Viruses, & Other Pathogens. Medical Device Coatings Enhance the Strength of the Equipment & Offer Excellent Dielectric Properties, Dry-Film Lubricity, & Thermal Stability. They are Used for Numerous Diagnostic & Surgical Medical Devices Such as Stent, Cardiac Assist Devices, Needles, Sheaths, Several Cardiovascular & Urology Catheters, Among OthersThis growth is primarily driven by The Rise in the Usage of Medical Devices & Implantable Devices, Owing to Increase in the People Suffering From Various Kinds of Ailments Coupled With Increase in the Disposable Income and Need for Improved Protection & Aesthetics of Medical Devices for Ensuring Safety & Durability.
Globally, a noticeable market trend is evident Technological Advancement of Medical Devices & Growing Investment in Healthcare Industry. Major Vendors, such as SurModics Inc. (United States), Sono-Tek Corporation (United States), DSM (Netherlands), Hydromer Inc. (United States), Biocoat Inc. (United Kingdom), Specialty Coating Systems Inc. (United States), Covalon Technologies Ltd (Canada), Surmodics Inc. (United States), Precision Coatings Inc. (United States) and AST Products Inc. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In February 2020, Biocoat Launched New Innovative UV Coating & Contract Coating Services Solution for medical devices
In January 2019, Biocoat Inc., a 27-Year Old Privately Held Company, Was Acquired by 1315 Capital, A Philadelphia-based Healthcare Investment Firm That Provides Expansion & Growth Capital to Commercial-Stage Healthcare Services, Medical Technology, & Specialty Pharmaceutical Companies
Market Drivers
- The Rise in the Usage of Medical Devices & Implantable Devices, Owing to Increase in the People Suffering From Various Kinds of Ailments Coupled With Increase in the Disposable Income
- Need for Improved Protection & Aesthetics of Medical Devices for Ensuring Safety & Durability
Market Trend
- Technological Advancement of Medical Devices & Growing Investment in Healthcare Industry
Restraints
- Stringent Regulatory Policies Linked With Medical Device Coating & Time-Consuming Regulatory Approvals
Opportunities
There is an Increased Opportunity for Market Expansion, Owing to the Growing Healthcare Sector in Emerging Economies Like India, China, & Brazil and There are Growing Prospects for Medical Device Coating, Due to Rise of the Insurance Industry
Challenges
Poor Healthcare System in Many Countries May Pose a Challenge and Fluctuating Prices of the Raw Materials May Hinder the Market Penetration
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medical Device Coating Study Sheds Light on
The Medical Device Coating Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Medical Device Coating industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Device Coating industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.