Global Wound Care and Medical Device Coatings Market was valued at USD 8.80 Bn in 2019 and is expected to reach at USD 14.78 Bn by 2027 at a CAGR of 6.7 % over forecast period 2020-2027.
The report covers an in depth analysis of COVID 19 pandemic impact on Global Wound Care and Medical Device Coatings Market by region and on the key players revenue affected till April 2020 and expected short term and long term impact on the market.
Global Wound Care and Medical Device Coatings Market Dynamics
To counter various infections, microbe’s medical devices are coated. Different products of surface-coating technologies have been implemented in the recent past. These have helped reduce design complexity and have improved the overall usage of medical devices. Various factors such as increasing pressure and diabetic ulcers related to the growth of an aging population and the increasing prevalence of diabetes, various technological advancements such as introduction of fluorinated, silver, and spin coatings and usage of hydroxyapatite and micro-blasting technique are expected to drive the global wound care and medical device coatings market over forecast period.
However, factors such as lack of awareness in underdeveloped countries, increase in cost of health care devices, volatile raw material prices, and stringent government regulations are restraining the market growth over forecast period.
Global Wound Care and Medical Device Coatings Market is segmented by Product, by Application and by Region. By product, Antimicrobial product segment held 36.67% of market share in 2019 and is expected to keep its dominance over forecast period due to high demand for antimicrobial coatings for use in the health care industry. Antimicrobial product segment is followed by hydrophilic product coatings. By using innovative hydrophilic coatings, invasive operations that were once impossible now performed safely through the cardiovascular, circulatory, neurological, urological, and vascular systems, allowing for faster recoveries and fewer complications. These fast-growing and exciting innovations in hydrophilic coatings are driving the growth and demand for hydrophilic coatings segment growth.
By application, Medical devices held 64.56% of market share in 2019 and is expected to keep its dominance over forecast period. Various factors such as rising health care expenditure, technological advancements, growing elderly population, and increasing prevalence of chronic diseases are driving the market growth of this segment. Covalon held major market share in this application segment in 2019 and is expected to keep its dominance over forecast period. Covalon is using various advanced technologies to solve major medical challenges associated with prevention, detection and management of areas such as infection, tissue repair, medical device biocompatibility, and condition management. Together, their technology platforms, wound care products, and consulting services deliver a suite of cost-effective solutions to help their customers achieve product differentiation through improved patient outcomes.
By geography, North America held 37.98% of market share in 2019 and is expected to keep its dominance over forecast period due to high adoption of advanced surgical treatments, increasing awareness regarding commercially available products, and development of health care infrastructure. North America is followed by APAC and Europe. APAC is expected to hold xx% of market share over forecast period. High adoption of advanced surgical treatments, increasing awareness regarding commercially available products, and development of health care infrastructure in China, India and Japan are driving the market growth in this region. Europe is expected to hold xx% of market share over forecast period. Europe constitutes the third -largest share of the global market for wound care and medical device coatings due to stringent regulations imposed by the European Union.
Report covers in depth analysis of key development, marketing strategies, value chain, supply chain and company profiles of market leaders, potential players and new entrants. Key players operating in this market are adopting various organic and inorganic growth strategies such as merger& acquisitions, collaborations, joint ventures, strategic alliances, expansion, new product launches, patent and diversification to increase their regional presence and business opeartions.
Hydromer Inc. is dominating the global wound care and medical devices market. Hydromer is actively engaged in the fight against COVID-19 by scaling up manufacturing of various anti-microbial hydrophilic coatings for medical devices during the current extreme demand and short supply of those critical products. Hydromer offers a variety of Wound Care and Medical Device Coatings, including a US FDA mandated medical device coatings versions, which are widely needed across the entire spectrum of healthcare, safety, first response and many other critical functions. Hydromer medical device coatings offers lubricity with some being low particulate coatings, and help improve the performance of these medical devices. Their coatings help to allow a range of innovative devices to navigate through even the most difficult areas of the human body, for safer, easier treatment for patients.
The objective of the report is to present a comprehensive analysis of the Global Wound Care and Medical Device Coatings Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Wound Care and Medical Device Coatings Market dynamics, structure by analyzing the market segments and project Global Wound Care and Medical Device Coatings Market. Clear representation of competitive analysis of key players by price, financial position, Product portfolio, growth strategies, and regional presence in the Global Wound Care and Medical Device Coatings Market make the report investor’s guide.
Scope of Global Wound Care and Medical Device Coatings Market:
Global Wound Care and Medical Device Coatings Market by Product
Global Wound Care and Medical Device Coatings Market by Application
• Wound Care
• Medical Devices
Global Wound Care and Medical Device Coatings Market by Region
• North America
• MEA& Africa
• South America
Global Wound Care and Medical Device Coatings Market Major Players
• Surmodics, Inc.
• Royal DSM
• Hydromer Inc.
• Covalon Technologies Ltd.
• AST Products, Inc.
• Precision Coating Company, Inc.
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