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A recent report from Frost & Sullivan says the global antimicrobial coating materials market generated revenues of $701.3 million in 2016 and is expected to register a CAGR of 7.9 percent through 2021. Market drivers include technology advancements, consumer awareness of the benefits of antimicrobial coatings, and the need to tackle the rising resistance of pathogens to antibiotics.
“There is a growing need for efficient and nosocomial infection-free, post-operative care,” said Raghu Tantry, Frost & Sullivan Visionary Science principal analyst. Tantry says that medical device manufacturers are projected to adopt “coatings that contain more than one metallic component and polyelectrolyte coatings in a wide variety of applications.”
The report predicts that the Asia-Pacific and Middle East markets will be hotspots, while Europe will have sluggish growth. Growth in the global antimicrobial coating materials market for medical devices will be supported by:
- Collaborations among universities, coating manufacturers, medical device OEMs and regulatory bodies
- High demand for reprocessed medical devices, along with an increase in remote-based healthcare devices
- Global increase in the geriatric population, resulting in higher occurrence of cardiovascular diseases and medical procedures
- Rising disposable income in developing nations.
Frost & Sullivan’s study covers antimicrobial coating materials for medical device segments such as metallic, polymeric and organic, as well as end applications including catheters, implantable devices and surgical devices.
Frost & Sullivan develops growth strategies for the global 1000, emerging businesses, the public sector and the investment community.