The global medical coatings market is projected to grow at a CAGR of 7.04% from 2016 to reach USD 15.15 Billion by 2021. The market is highly driven by the awareness about healthcare acquired infections and minimally invasive surgery. Another prime factor that is expected to bring momentum to this market is the increasing ageing population globally and rising awareness about health-care and government initiatives to improve the quality of healthcare infrastructure especially in the emerging countries.

Browse 151 market data tables and 42 figures spread through 175 pages and in-depth TOC on “Medical Coatings Market by Type (Hydrophilic and Hydrophobic Coating), Application (Medical Devices, Implants, Medical Equipment & Tools), and Region (Asia-Pacific, Central & Eastern Europe, North America, Western Europe and RoW) - Global Forecast to 2021”

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The medical coatings market is segmented into two types: hydrophilic and hydrophobic coatings. These types have application specific demands that are differentiated by cost, and efficiency. These coatings may be used in combinations on medical products as required or individually. Hydrophilic coatings are widely used on medical products such as; guide wires, catheters, and introducer sheaths to lower the friction coefficient. The demand for hydrophilic coatings is high due to properties such as lubricity, durability, low friction coefficient, and low particulate count.

Medical devices broadly include orthopedic devices, cardiovascular devices, optical devices, endoscopic devices, radiological devices, and others. Several new coating technologies are being developed for application to these devices, to reduce the friction between the device and the tissue, and provide good surface coverage, wetting, uniform adhesion, wear-resistance and coating homogeneity. The developing medical coatings market in China and India is projected to boost the global medical device coatings market.

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The key players in the global medical coatings market adopted the partnerships, agreements, collaborations and product launch strategies to increase their market share between 2012 and 2016. The increasing demand for medical coatings in medical equipment & tools, medical devices, and implants, and the increasing consumption of these coatings in the developed as well as emerging markets such as U.S., U.K., Germany, France, Netherlands, China, India, Malaysia, and Japan have encouraged companies to adopt these strategies. The players in these markets have also undertaken the expansions strategy to increase their market penetration.

North America is the largest market for medical coatings currently and the trend is expected to continue till 2021. The European medical coatings market is expected to show a slightly higher growth rate than the North American market. The Asia-Pacific market is expected to show the highest growth rate but the market share is currently lower than that in North America and Europe. The U.S., Germany, China, and Japan are the manufacturing hubs of medical products in the world and are major consumers of medical coatings.

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Major manufacturers such as Royal DSM (Netherlands), Hydromer, Inc. (U.S.), Surmodics, Inc. (U.S.), AST Products, Inc. (U.S.), and Covalon Technologies Ltd. (Canada) are profiled in this report. These companies have adopted various organic and inorganic growth strategies such as agreements, new product launches, acquisitions, collaborations, partnerships, and expansions.