PUBLISHER: The Business Research Company | PRODUCT CODE: 1390984
PUBLISHER: The Business Research Company | PRODUCT CODE: 1390984
“Antimicrobial Medical Device Coatings Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on antimicrobial medical device coatings market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for antimicrobial medical device coatings? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The antimicrobial medical device coatings market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Chemicals play a vital role in antimicrobial coatings by disrupting cellular membranes and preventing the growth of disease-causing microorganisms. Essentially, antimicrobial coatings involve the application of chemical substances on surfaces to thwart the proliferation of pathogens. These coatings not only enhance the surface's durability, appearance, and corrosion resistance but also provide protection against bacteria that cause diseases.
The primary types of antimicrobial medical device coatings include metallic coatings and non-metallic coatings. Metallic coatings, comprising elements or alloys, are applied to devices for protection against corrosion, sunlight, and oxidation. Examples include silver coatings, copper coatings, and other metallic coatings. Non-metallic coatings can be combined with metallic coatings to create effective wear-resistant coatings. Various devices, such as catheters, implantable devices, and surgical instruments, benefit from these coatings, with applications spanning orthopedics, general surgery, dentistry, cardiovascular, gynecology, and more. These coatings find utilization in hospitals, diagnostic centers, and ambulatory surgical centers.
The antimicrobial medical device coatings market research report is one of a series of new reports from The Business Research Company that provides antimicrobial medical device coatings market statistics, including antimicrobial medical device coatings industry global market size, regional shares, competitors with an antimicrobial medical device coatings market share, detailed antimicrobial medical device coatings market segments, market trends and opportunities, and any further data you may need to thrive in the antimicrobial medical device coatings industry. This antimicrobial medical device coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The antimicrobial medical device coatings market size has grown rapidly in recent years. It will grow from $2.36 billion in 2023 to $2.69 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The increase in the historic period can be ascribed to factors such as an aging population, adherence to regulatory compliance, heightened patient awareness, the development of healthcare infrastructure, and government initiatives.
The antimicrobial medical device coatings market size is expected to see rapid growth in the next few years. It will grow to $4.78 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The anticipated growth in the forecast period can be attributed to the emergence of new markets, a rising incidence of healthcare-associated infections (HAIs), an increase in healthcare expenditure, and growing environmental concerns. Key trends expected in this period involve advancements in nanotechnology, the development of multifunctional coatings, integration with the Internet of Things (IoT), the adoption of hydrophilic coatings, and an emphasis on collaboration and partnerships.
The expansion of the antimicrobial medical device coatings market is being driven by the escalating incidence of cardiovascular diseases (CVDs) globally. CVDs encompass a spectrum of heart and blood vessel-related conditions and are a leading cause of mortality worldwide, particularly prevalent in low- and middle-income countries. These coatings are utilized in cardiovascular devices aimed at treating various heart and blood vessel problems. According to a 2021 report from the World Health Organization (WHO), CVDs accounted for 17.9 million deaths globally in 2019, representing 32% of all fatalities, with heart attacks and strokes contributing to 85% of these deaths. As the prevalence of cardiovascular diseases continues to rise, it fuels the growth of the antimicrobial medical device coatings market.
The surge in the number of surgeries is expected to further bolster the growth of the antimicrobial medical device coatings market. These coatings offer lasting protection against a broad spectrum of microbes, making medical devices easier to maintain cleanliness and reducing the risk of cross-contamination. A report published by the National Library of Medicine in January 2023 highlighted a substantial increase in the volume of surgeries, particularly cosmetic procedures performed in hospital plastic surgery departments. The total number of operations surged by 33.4% in 2021, with a significant 49.4% growth in cosmetic surgeries, underscoring the rising demand for antimicrobial coatings to ensure enhanced safety in surgical procedures.
Technological advancements play a pivotal role in shaping the antimicrobial medical device coatings market. Major companies operating in this sector are focusing on developing innovative technological solutions to prevent viral spread through antimicrobial coatings. For instance, in April 2022, BioInteractions, a UK-based biomaterial technology company, introduced TridAnt, a cutting-edge coating technology for medical devices. TridAnt represents a significant advancement in infection prevention, integrating active and passive components to create a non-leaching, highly effective, safe, and durable antimicrobial coating designed for medical devices and implants. This innovation signifies a significant stride in combating infections and reflects the influence of advancing technology on the antimicrobial medical device coatings sector.
Key players in the antimicrobial medical device coatings market are at the forefront of developing innovative technologies, notably exploring non-heavy metal technology for water-based coatings. This novel approach involves utilizing alternative materials devoid of heavy metals in the production of water-based coatings. The rising popularity of this technology stems from its compatibility with thin coating systems, heightened UV stability, and improved optical properties. For instance, in October 2022, Microban International, a leading US-based provider of antimicrobial additives and odor control solutions, introduced LapisShield. This non-heavy-metal technology is specifically engineered to seamlessly integrate antimicrobial functionality into water-based coatings. LapisShield stands out for its stability and transparency, enabling its seamless incorporation across a wide array of coating systems. It caters to various applications, including anti-fingerprint and anti-smudge formulations, where optically clear performance is crucial.
In February 2021, Bain Capital, a US-based investment firm, in collaboration with Cinven, a UK-based private equity firm, acquired Lonza Specialty Ingredients (LSI), a division of Lonza AG, in a significant deal valued at $4.7 billion. This acquisition positions Lonza Specialty Ingredients (LSI) as a provider of a diverse range of specialized chemical products, leveraging robust research and development capabilities, supported by regulatory and intellectual property protections, and a skilled and dedicated workforce. LSI, a US-based company, specializes in microbial control for personal care products and the prevention of mold and other potential pathogens in various settings such as homes, schools, workplaces, and the broader environment. This strategic acquisition showcases a notable consolidation within the antimicrobial and microbial control industry, aimed at furthering innovation and expansion within this market segment.
Major companies operating in the antimicrobial medical device coatings market include AST Products Inc., BioInteractions Ltd., Covalon Technologies Ltd., Koninklijke DSM N.V., Hydromer Inc., BASF SE, Sciessent LLC, DuPont de Nemours Inc., Kraton Corporation, Sono-Tek Corporation, Microban International Ltd., Specialty Coating Systems Inc., Dow Inc., PPG Industries Inc., 3M Company, Becton Dickinson and Company, Cardinal Health Inc., Johnson & Johnson, Medtronic PLC, Stryker Corporation, Boston Scientific Corporation, Cook Medical LLC, C.R. Bard Inc., Teleflex Incorporated, Zimmer Biomet Holdings Inc., Smith & Nephew PLC, Olympus Corporation, Abbott Laboratories, Terumo Corporation, Fresenius Medical Care AG & Co. KGaA, Getinge AB, Hill-Rom Holdings Inc., Integra LifeSciences Holdings Corporation, Molnlycke Health Care AB
North America was the largest region in the antimicrobial medical device coatings market in 2023. Europe was the second-largest market in the antimicrobial medical device coatings market. The regions covered in the antimicrobial medical device coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the antimicrobial medical device coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The antimicrobial medical device coatings market consists of sales of non-metallic antimicrobial medical device coating including polymeric and organic coatings. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.