Medical Coatings Market Projected To Growth at a CAGR of ~20% throughout 2022 2031

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New York, United States, Mar 25, 2022, 05:59 /Comserve / -- The global medical coatings market is estimated to occupy a large amount of revenue by growing at a CAGR of ~20% during the forecast period, i.e., 2022 – 2031.

Research Nester published a report titled “Medical Coatings Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global medical coatings market in terms of market segmentation by type, application, and by region.

Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.

The global medical coatings market is estimated to occupy a large amount of revenue by growing at a CAGR of ~20% during the forecast period, i.e., 2022 – 2031, ascribing to the rising awareness regarding healthcare-associated infections (HCAIs), and increasing usage of minimally invasive surgical procedures conducted worldwide. Along with these, growing demand for lightweight medical equipment, and mounting requirement for quality healthcare are also expected to drive the growth of the market in the upcoming years.

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The market is segmented by type and application. Based on type, the anti-microbial segment is anticipated to acquire the largest share during the forecast period in view of the high compatibility of this coating with a variety of materials, including carbon fiber, plastic and metal. Additionally, by application, the medical device segment is projected to observe notable growth over the forecast period attributing to the increasing usage of medical devices in developing countries, such as China and India.

Geographically, the global medical coatings market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific is evaluated to witness noteworthy growth in the market during the forecast period attributing to the escalating number of hospitals, and surging adoption of advanced surgical treatments in the region. Moreover, the market in North America is assessed to acquire the largest share over the forecast period on the back of the strong footprint of market players, and high healthcare expenditure in the region.

The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.

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Rising Utilization of Minimally Invasive Surgeries Globally to Drive Market Growth

The growing number of cases of diseases, such as cancer, arthritis and cardiovascular disorders, that require complex surgical treatment, is predicted to raise the demand for minimally invasive procedures. It is anticipated to boost the consumption of lightweight medical devices, that often have medical coating for easy insertion into narrow vascular areas. This in turn is assessed to drive significant market growth in the near future.

However, volatility in the costs of raw materials is expected to operate as key restraint to the growth of the global medical coatings market over the forecast period.

This report also provides the existing competitive scenario of some of the key players of the global medical coatings market which includes company profiling of Koninklijke DSM N.V., Biocoat Inc., Endura Coatings, Freudenberg Medical LLC, Harland Medical Systems Inc., Hydromer Inc., Materion Corp., Merit Medical Systems Inc., Precision Coating Co. Inc., Surmodics Inc., and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global medical coatings market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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