Global Market for Medical Device Coatings to Reach $9 Billion by 2019
Wellesley, Mass. (PRWEB) November 10, 2014
BCC Research (http://www.bccresearch.com) reveals in its new report, Medical Device Coatings, the global market for medical device coatings is expected to grow to $6.3 billion by the end of 2014 and $9 billion in 2019, with a compound annual growth rate (CAGR) of 7.3% from 2014 to 2019. Against a backdrop of regulatory uncertainty, the industry has been forced to confront the unanticipated change in company business models as long-established suppliers renounce their American roots and flee to more tax-friendly European countries.
BCC Research forecasts that despite formidable regulatory and economic challenges, the industry will recover from a slowdown in demand triggered by persistent high unemployment in the U.S. and reductions in healthcare spending worldwide. The U.S. alone will record a CAGR of 8.9% growth from $3.1 billion in 2014 to $4.9 billion in 2019.
To a greater or lesser degree, coatings are used in medical devices required by healthcare providers worldwide, and across the full spectrum of medical specialties. The medical device coating business has become a valuable contributor to improving healthcare.
However, coating suppliers have entered a period of heightened uncertainty created by announced but yet unspecified changes in the federal regulations that cover how new medical devices are evaluated prior to being permitted to be sold in the U.S., the largest and most profitable of the world’s healthcare markets.
Within the last decade, coated medical devices have come into their own as a distinct category of products that produce clinically recognizable improvements to medical treatments and surgical interventions. Coatings that enhance biocompatibility have improved the quality of implanted electronic devices and artificial joints. Antimicrobial-coated catheters and examining room surfaces have become front line defenses against antibiotic-resistant infections.
“Although there are many multi-billion giants, the medical device industry that produces coatings and coated products also relies heavily upon smaller companies,” says BCC Research technology analyst James Wilson. “That [medical device coatings] specialized area has become essential across nearly the full spectrum of healthcare products for large and small medical device manufacturers.
Medical Device Coatings examines the medical device coating and surface modification treatment industry. It describes the eight coating and surface treatment technologies that add value to medical devices used in 19 healthcare areas. Revenue forecasts are given for the period 2014 to 2019.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven(dot)cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world as well as universities, business schools, start-ups, consulting firms and investment companies. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email information(at)bccresearch(dot)com.
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