The worldwide medical device coatings market was predicted to have attained about USD 5 billion in 2010. It is projected to rise to about USD 8 billion by 2017. The market is anticipated to record a CAGR of around 6.6 percent through the forecast period. Innovations in the configuration of various healthcare instruments have enhanced medical care by a huge degree.
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Conversely, these instruments are fabricated from such substances, which when exposed to the atmosphere outside, can lead to adverse effects. Some of these include blood coagulates, microscopic diseases and tissue trauma. Medical device coatings are used to lessen such drawbacks and are thus used increasingly. Rising demand for medical device coatings from various end-user sectors is predicted to propel the medical device coatings market.
The medical device coatings technology makes use of unrefined solvents for coating medical instruments. It decreases resistance between tissues and medical devices. The technology also provides wear resistance, exterior coverage and homogeneous adhesion. Escalating awareness with regard to surgeries involving minimal invasiveness is projected to propel the medical device coatings market.
Moreover, further development opportunities in various industries across healthcare, together with the rising markets is also anticipated to push the medical device coatings market further. Conversely, altering governmental policies for medical instruments around various nations may slow down the smooth flow of the medical device coatings market.
North America leaded the worldwide market and occupied the biggest share. It was followed by Europe and Asia Pacific. The emergent regions of India and China are predicted to drive demand for the medical device coatings market in Asia Pacific.
Information Source: Radiant Insights