As per a examine through future market Insights, the medical grade coatings market will enlarge at a CAGR of 6.7% in the course of the forecast length of 2021-2031. The growing demand for medical device and enlargement of the scientific devices zone in various regions had been creating possibilities for the increase of the clinical grade coatings marketplace. As according to the report, amongst materials used, the demand for polytetrafluoroethylene or PTFE is drastically high. PTFE substances have wider programs in coating and are utilized in hydrophobic, anti-microbial, and other coatings. It’s far anticipated to account for almost 33% of medical grade coatings synthetic in 2021 in phrases of fee.
Regionally, North the usa and Europe will stay key markets. Of these, North the united states is anticipated to remain dominant. The presence of a properly-developed healthcare infrastructure will maintain helping boom in those regions.
“Growing demand from medical sector is expected to drive the medical grade coatings sales. While developed countries will continue exhibiting demand, stagnancy in certain pockets will compel market players to explore options in emerging economies. Considering the presence of unmet medical needs and increasing focus on expansion of healthcare sector, medical grade coatings manufacturers will find conducive environment for growth in emerging nations,” says an FMI analyst.
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Key Takeaways of Global Medical Grade Coatings Market Study
- Medical grade coatings market is expected to surpass US$ 6.68 Bn in 2021
- The U.S. will emerge dominant, accounting for nearly 85% of sales in North America. Thanks to increasing focus on healthcare research, the U.S. will continue spearheading growth in the region
- The U.K. will exhibit 5.4% y-o-y growth in 2021, driven by increasing healthcare spending
- Germany and France will remain attractive pockets for sales within Europe
- China will remain the leading market for medical grade coatings in East Asia, followed by Japan and South Korea.
The global medical grade coatings market is anticipated to grow substantially owing to the development in the medical as well as health-care sector and increasing investment in innovation and development of medical devices and equipment. Outbreak of COVID-19 has significantly impacted the global medical grade coatings market. The rising demand for various medical equipment and devices to offer efficient care to a mounting number of patients created prospects for medical grade coatings sales.
Who is Winning?
The global medical grade coatings market has been identified as a significantly fragmented market. The Tier 1 manufacturers account for maximum share in the global market. Some of the leading players included in the report are DuPont, Koninklijke DSM NV, SurModics, Inc., Speciality Coating Systems Inc. Precision Coating Co. Inc., Biocoat Inc., Covalon Technologies Ltd., Harland Medical Systems Inc., Hydromer Inc., Medicoat, Inc. Aculon Inc., and AST Products Inc the manufacturers across the globe are anticipated to create tough competitive environment on the global level.
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Medical Grade Coatings Market by category
- General Surgery
- Drug Eluting