Global Coatings for Medical Devices Market to Exceed $7.5 Billion by 2015, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on coatings for medical devices. The world market for coatings for medical devices is projected to exceed $7.5 billion by the year 2015. This is primarily driven by a rapid rise in the incidence of hospital-acquired infections caused by bacterial contamination of medical devices. Other major market drivers include emphasis on reduced hospital stays, increasing awareness of benefits of coated medical devices, and an increase in joint replacement surgeries.

Coatings for Medical Devices: A Global Strategic Business Report

Coatings for medical devices are essentially thin layers of materials applied on medical devices to enhance their safety and performance. The heightening risk of nosocomial infections has underpinned the need of using coatings for medical devices. Coatings help reduce friction between devices and tissues, and provide excellent surface coverage, wetting, uniform adhesion, wear-resistance and coating homogeneity. There are several different types of coatings for use in medical devices, including lubricious coatings, antimicrobial coatings, biocompatible coatings and drug-eluting coatings, among others.

North America dominates the world coatings for medical devices market as stated by the new market research report on coatings for medical devices. Hospital Acquired Infections (HAIs) have of late become a major healthcare issue in North American countries, especially the United States. This has further increased the healthcare spending, by prolonging patient stay at hospital and increasing cost burden of the government and insurance providers. Due to the high risk of HAIs, the use of catheters with antimicrobial coatings is being stressed to gain protection against the formation of biofilm and contraction of cross-infections.

Coatings would continue to play a key role in shaping the market for safe and effective medical devices. Medical device manufacturers are now realizing that almost all medical devices need some form of coating or other. In fact, advanced coatings have made it possible for several medical devices to be practically of use. For instance, biocompatible coatings prevent the risk of thrombi; antimicrobial coatings prevent the risk of nosocomial infections; drug-eluting coatings on arterial stents prevent the risk of restenosis; and lubricious coatings allow catheters to be inserted at the intended site.

Drug-eluting stents represent a major growth driver in the coatings for medical devices market. Drug-eluting stents are clinically proven to reduce the recurring revascularization procedures required for treating restenosis. The US is clearly the single largest market for the drug eluting stents technology. The European market has been relatively slow on the uptake mainly as a result of high price of stents and lower medical reimbursement rates in the region. Japan, on the other hand, is a relatively nascent market, as the first drug-eluting stent product was released only in 2004 in the country.

Aging population the world over is a major factor contributing to the unprecedented growth in orthopedic implants. In addition to the increase in general lifespan along with improved living conditions, the growing incidence of osteoporosis, arthritis and other degenerative joint diseases is fuelling growth for orthopedic devices, especially hip and knee implants.

Key players profiled in the report include Abbott Laboratories Inc., Accord Biomaterials, Inc., AdvanSource Biomaterials Corp., AeonClad Coatings LLC, Affinergy Inc., Allvivo Vascular Inc., Angiotech Pharmaceuticals Inc., Armoloy of Connecticut Inc., AST Products Inc., Bacterin International Inc., Biocoat Inc., Biophan Technologies Inc., Carmeda AB, Ceragenix Pharmaceuticals Inc., Covalon Technologies Ltd., Hemoteq AG, Hydromer Inc., I-Flow Corp., Implant Sciences Corp., Nerites Corp., Nanocopoeia Inc., NUCRYST Pharmaceuticals Corp., Specialty Coating Systems Inc., Spire Corp., and SurModics Inc., among others.

The report titled "Coatings for Medical Devices: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, coating technologies, product innovations/ introductions/ approvals, and recent industry activity. The study analyzes market data and analytics in terms of value sales for regions including North America, Europe, and Rest of World by the following coating types - Active, Protective, Optical, and Nanotechnology coatings.

For more details about this comprehensive market research report, please visit -
http://www.strategyr.com/Coatings_for_Medical_Devices_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com/

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