Covid-19 Impact on Medical Device Coating Market: Updated Study Offering Insights & Analysis up to 2028
February 28th,2023/IndustryNewsGlobal/ -- The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Medical Device Coating Market.
Medical Device Coating Market report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Medical Device Coating Market was estimated at US$ 7.31 billion in 2021 and is expected to grow at a CAGR of 6.35% during 2022-2028 to reach US$ ~12.56 billion in 2028. Medical device coatings (MDCs) are materials that improve a medical gadget's function and mobility. MDCs are used to protect the surfaces of many medical equipment, including those used in dentistry, neurology, and other fields. By using them, one can achieve optimal hygienic conditions, corrosion resistance, and biocompatibility. Their use lessens blood vessel injuries, allergic responses, and thrombogenicity.
Segment Analysis
The market is divided based on material, coating, and application. On the basis of material, the market is further segmented into metals, ceramics, and polymers. The metals segment is being further segmented into silver, titanium, and others, whereas the polymers segment is divided into silicone, parylene, fluoropolymers, PTFE, PVDF, and others.
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Based on coating, the market is bifurcated into hydrophilic, and hydrophobic. Abrasion resistance, lubricity, biocompatibility, and non-thrombogenic are all characteristics of hydrophilic coatings. Because of these qualities, these coatings can be used to cover guide wires, vascular catheters, and other medical devices that are utilised to treat some very prevalent disorders, including orthopaedic and cardiovascular conditions.
On the basis of application, the market is divided into general surgery, cardiovascular, orthopedics, dental, neurology. gynecology, and others. The expansion of this dominant market category of general surgery is driven by an increase in the number of general procedures including the use of such devices. As medical device coatings work to prevent hospital acquired infections from spreading through medical devices, strict rules prohibiting their use are also a crucial driver in growth. Due to the rise in the frequency of orthopaedic illnesses, which necessitate a significant use of medical devices that require medical device coatings, the orthopaedics segment is also anticipated to develop at the quickest rate over the course of the projection year.
The medical device coating market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2021, North America is anticipated to be the medical device coating market's largest region owing to the increased product launches, approvals, and initiatives by firms.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Medical Device Coating Market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• COVID-19 Impact Assessment
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
About Stratview Research
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. It is a global market intelligence firm providing a wide range of services including syndicated market reports, custom research, and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
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