Medical Coatings Market , Shares, Trends Forecast 2027
The global medical coatings market size is expected to reach USD 7,990.0 million by 2027, exhibiting a CAGR of 9.7% during the forecast period.
The global medical coatings market size is expected to reach USD 7,990.0 million by 2027, exhibiting a CAGR of 9.7% during the forecast period. The increasing preference for antimicrobial coatings over disinfectants and other cleaning agents will enable speedy expansion of the market, states Fortune Business Insights, in a report, titled “Medical Coatings Market Size, Share & Industry Analysis, By Type (Hydrophilic Coatings, Anti-microbial Coatings, Anti-thrombogenic Coatings, and Others), By Material Type (Fluoropolymer, Silicone, Parylene, Metals, and Others), By Application (Medical Device, Medical Implants, Medical Equipment & Tools, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 3,690.0 million in 2019.
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Surging Minimally Invasive Surgical Procedures to Incite Market Development
The increasing number of minimally invasive surgeries around the world will spur opportunities for the market in the forthcoming years. The growing shift from traditional surgical procedures to less invasive medical procedures owing to its better accuracy rate will bolster the healthy growth of the market. The increasing incidence of arthritis, cancer, and cardiovascular diseases can have a tremendous impact on the global market. Furthermore, the utilization of light medical instruments such as balloon angioplasty catheters, intravascular catheters, delivery sheaths, guide wires, and implant delivery systems that can pass through complicated and vulnerable areas of the body, which, in turn, will improve the prospects of the market. Their wide use in cerebrovascular, coronary, and peripheral vascular systems during minimally invasive procedures can promote the growth of the market. Besides, the increasing use of such coatings on medical instruments for cardiac and urinary catheterization operations to reduce time consumption will effectively propel the growth of the market in the forthcoming years.