A new report by XploreMR studies the growth drivers, trends, restraints, and highlights of the global medical grade coatings market. Presenting exclusive insights into the market from 2019 to 2027, the report projects that the market will witness notable growth during the forecast period. Medical grade coatings are used to enhance the physical properties of medical equipment such as extending durability, excellent dielectric properties, dry-film lubricity, and thermal stability. On this premise, the coatings are finding high adoption in the healthcare segment. The growth of the market is primarily attributed to the rising demand for medical devices, increasing government expenditures on healthcare infrastructure, and the establishment of public health insurance in developed countries. Moreover, the high usage of medical grade coatings in catheters, stents, guide wires, syringes, sutures, hypo tubes, and mandrels, will also complement the growth of the market.
High Number of Medical Procedures Translate into Revenue Opportunities for Medical Grade Coatings
Medical grade coatings are essentially used to reduce friction between the equipment and human body tissues during medical procedures, and to provide wetting and surface coverage. Hydrophilic lubricious coatings are highly used in sheaths, cardiovascular & urology catheters, and short-term implanted devices, since it helps in attaining biocompatibility. Further, the rising prevalence of chronic diseases is propelling the demand for medical procedures, which is expected to augment the adoption of medical-grade coatings. Moreover, the furtherance of technology has abetted the designs of medical devices such as catheters, guide wires, and stents. Since these devices are manufactured from materials vulnerable to bacterial infection, blood clots, and trauma when exposed to the external environment, this facet necessitates the use of medical-grade coatings to ameliorate the safety of these devices. The technological evolution has conferred novel varieties of coatings such as fluorinated, silver and spin coatings, and techniques such as hydroxyapatite, and micro blasting, which is anticipated to invigorate the market growth. However, the high cost of healthcare devices, fluctuating costs of raw materials, and firm government regulations are likely to impede the proliferation of the market to an extent.
North America Forefronts Regional Landscape Backed by progressive Healthcare System
North America is expected to bestow substantial revenue opportunities to the players in the medical-grade coatings market, owing to the progressive healthcare architecture and high prevalence of radiometric disorders that spur the demand for medical devices. Furthermore, high awareness regarding the importance of coatings, and their wide-scale availability is stiffening the region's foothold in the regional landscape. On the other hand, Asia Pacific is expected to exhibit tremendous growth during the forecast period, owing to augmenting healthcare infrastructure, coupled with increasing population base with obesity and cardiac diseases, which in turn, are propelling demand for medical equipment.