Industry Background:
Antimicrobial coatings and materials are becoming increasingly vital in hospitals and healthcare environments around the globe. Hospital-acquired infections and healthcare-associated infections (HAIs) are a leading cause of morbidity and mortality worldwide. Of the approximately 1.7 million HAIs in the US annually, nearly 100,000 patients die from these infections and many more require extended hospitalization and medical treatment. Most HAIs are related to the use of medical devices and typically occur during procedures that breach the skin or introduce a foreign object into the body (i.e. catheterization, intravenous access, intubation, and the use of surgical implants and devices). Many of these devices provide a breeding ground for bacteria and slime-like aggregations of bacteria known as biofilms, which are nearly impossible to kill with conventional antibiotics. Therefore, Antimicrobial coatings are used in order to destroy or inhibit the growth of microorganisms. Nowadays, medical device manufacturers are rapidly working to incorporate antimicrobial technologies into their medical devices to reduce the potential for patient infections.
According to AMA Research, the market for Antimicrobial Coatings for Medical Devices is expected to register a CAGR of 14.51% during the forecast period to 202. This growth is primarily driven by Rising Awareness about Hospital-Acquired Infections
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Attributes | Details |
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Study Period | 2018-202 |
Base Year | 2022 |
Forecast Period | 2023-202 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Health Care Technology sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as BASF SE (Germany), Covalon Technologies Ltd. (Canada), Royal DSM (Netherlands), The DOW Chemical Company (United States), Hydromer, Inc. (United States), PPG Industries, Inc. (United States), AST Products, Inc. (United States), Biointeractions Ltd (United Kingdom), Sciessent LLC (United States) and Specialty Coating Systems, 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 2021, Hydromer has announced that it has been selected as a leading coatings and services partner under the company name Avenger, Inc. These moves help the company drive growth in the market., In 2021, PPG Industries, an American company that supplies special materials and coatings, announced that it has acquired a famous Finnish paint company, Ticurilla. PPG closed the acquisition after paying USD 1.8 billion. This transaction gives PPG a strategic advantage over its competitors in the coatings business. and In 2021, Specialty Coating Systems, an American company specializing in parylene conformal coatings, today announced the successful acquisition of Diamond-MT, a coating services provider based in Pennsylvania, USA. The transaction strengthens the SCS coatings business and expands the company's presence in 20 new locations.
In 2022, The company established a second manufacturing plant in Costa Rica. The plant will be involved in manufacturing medical device solutions for extrusion, injection molding, metal micromachining and final assembly processes in cleanrooms. This move is a move taken to meet the growing demand for medical device solutions in the market., In 2021, BioCote Limited showcases innovative antimicrobial coating technology, including the latest developments in plastic antimicrobial coating products. This improved the company's annual revenue. and On 31 March 2020, Covalon Technologies Ltd., an advanced medical technologies company, announces today its new breakthrough antimicrobial technology formulated to kill the COVID-19 virus (or “SARS-CoV-2”) and other viruses, bacteria, and pathogens.Antimicrobial coatings for medical devices market is a fragmented market due to the presence of various players. Companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance, along with try to incorporate latest technology. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Market Growth Drivers:
Rising Awareness about Hospital-Acquired Infections, Favorable Research and Funding Environment, Growing Implantable Devices Market across the Globe, Increasing Research and Development Activities for Antimicrobial Coated Cardiovascular Devices and Increasing Burden of Cardiovascular Diseases across the Globe
Challenges:
Lack of FDA Guidelines and Regulations for Antimicrobial Coating Techniques
Restraints:
Limitations of Silver Ion Coatings and Presence of Time- and Resource-Intensive Processes for Development and Approval of Antimicrobial Coating Products
Opportunities:
Growing Healthcare Market in Emerging Economies and Increasing Number of Free Trade Agreements
AMA Research follows 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 mainly 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 showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Antimicrobial Coatings for Medical Devices Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Antimicrobial Coatings for Medical Devices Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Antimicrobial Coatings for Medical Devices players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes 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, Antimicrobial Coatings for Medical Devices Study Sheds Light on
The Antimicrobial Coatings for Medical Devices Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Antimicrobial Coatings for Medical Devices industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Antimicrobial Coatings for Medical Devices industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.