Yahoo Finance Medical Coatings Global Market Report 2022: Ukraine-Russia War Impact
Major players in the medical coatings market are: Allvivo Vascular Inc. , AST Products Inc. , Biocoat Incorporated, Coatings2Go LLC, Covalon Technologies Ltd. , Harland Medical Systems Inc, Hemoteq AG, Medicoat AG, Merit Medical Systems Inc, AeonClad Coatings LLC, APPLIED MEDICAL COATINGS, Applied Membrane Technology Inc, Calico Coatings, Carmeda AB, Freudenberg Medical, Hydromer Inc.
New York, Dec. 09, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Coatings Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06372059/?utm_source=GNW
, Kisco Ltd., and Materion Corp.
The global medical coatings market is expected to grow from $5.99 billion in 2021 to $7.08 billion in 2022 at a compound annual growth rate (CAGR) of 18.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting manyevery markets across the globe. The market is expected to grow to $14.32 billion in 2026 at a CAGR of 19.3%.
The medical coatings market consists of sales of medical coatings by entities (organizations, sole traders, and partnerships) that are used for the absolute cleanliness and sterilisation process of medical and surgical instruments.Medical coating refers to a coating that is employed to reduce unfavourable side effects such as bacterial infection, blood clotting, and tissue trauma.
Coating technology uses dry or water-based formulations, enabling processing without the use of solvents.
The main types of medical coatings are anti-microbial coatings, hydrophilic coatings, anti-thrombogenic coatings, and other types.A hydrophilic coating is a coating that has an affinity for water.
The material types are polymers, metals, and other material types. The various applications involved medical devices, medical implants, medical equipment and tools, protective clothing, and other applications.
North America was the largest region in the medical coatings market in 2021.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in this medical coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Rising occurrences of ischemic heart disease and chronic obstructive pulmonary disease are expected to propel the growth of the medical coatings market going forward.Ischemic heart disease refers to heart issues brought on by constricted heart arteries.
Little blood and oxygen reach the heart muscle when arteries are narrow.Medical coatings are used to enhance various kinds of medical devices, such as general surgery devices and cardiovascular devices, to make them durable and prevent corrosion.
For instance, in July 2020, according to an article published by the National Library of Medicine, a US-based medical library and an institute within the National Institutes of Health, IHD affects over 126 million people worldwide (1,655 per 100,000), or 1.72% of the total population. IHD causes 9 million deaths worldwide. By 2030, it is anticipated that the current prevalence rate of 1,655 per 100,000 people will have surpassed 1,845. Therefore, rising occurrences of ischemic heart disease and chronic obstructive pulmonary disease are driving the growth of the medical coatings market.
Product innovations are a key trend gaining popularity in the medical coatings market.Major companies operating in the medical coatings market are focused on developing new product innovations to strengthen their position.
For instance, in April 2022, Harland Medical Systems, Inc., a US-based provider of medical device coatings and equipment services to healthcare product manufacturers, launched the CTS1100 Coating Thickness Testing System. As a testing system, the CTS1100 will allow medical device manufacturers to accurately and easily measure the coating thickness on their devices. The CTS1100 can conduct an automated dry-out test, which makes laborious testing simple. The product has unique features such as a real-time precision micrometre that can continually measure a sample’s diameter and calculate the dry-out time by using the device’s critical dry-out diameter.
In November 2020, Advanced Medical Solutions, a UK-based developer and manufacturer of world-leading advanced wound care and wound closure products, acquired Raleigh Adhesive Coatings for an amount of £22 million (USD 22.18 million) in cash. This acquisition aims to strengthen AMS’s position in the wound care sector by bringing in-house specialist services of acrylic and silicone coating, perforation processing, and some bulk materials converting capabilities that are currently outsourced. Raleigh Adhesive Coatings is an England-based manufacturer of medical coatings.
The countries covered in the medical coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The medical coatings market research report is one of a series of new reports that provides medical coatings market statistics, including medical coatings industry global market size, regional shares, competitors with a medical coatings market share, detailed medical coatings market segments, market trends and opportunities, and any further data you may need to thrive in the medical coatings industry. This medical coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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