The value of this market was $122.22 million in 2016, according to a new report published by Allied Market Research, “The Market for Antimicrobial Coatings for Medical Implants: Global Opportunity Analysis and Industry Forecast, 2017-2023.” It is estimated to reach $34316 million. By 2023, we registered a CAGR of 16.1% from 2017 to 2023. The metal coatings segment accounted for about three quarters of the total market in 2016.
Antibacterial coatings are materials that prevent the attachment of bacteria and the formation of biofilms on the surface of medical implants. In addition, they act as anti-thrombogenic coatings, preventing the formation of blood clots during bacterial infections in patients after surgery. Therefore, medical implants are coated with an antimicrobial coating, providing an ideal strong surface that can provide protection against pathogens.
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The main drivers of the global antimicrobial coatings market for medical implants are increased incidence of implant-related infections, demand for implantable devices, increased bone-related and cardiovascular disorders, and an aging population. However, the high cost of antibacterial coatings, the few drawbacks of silver coatings, and the lengthy regulatory approvals are expected to slow down market growth. Conversely, with the growth in emerging markets such as China and India requiring better health care services, the development of new antibacterial coatings is expected to provide market players with an advantageous opportunity.
The metallic coatings segment held the highest share in 2016 due to the applicability and availability of the use of metallic coatings in medical and clinical settings. In addition, the metallic coating segment will continue to dominate the market during the forecast period. Although the utilization of antimicrobial coatings on cardiac implants is high, it is expected that orthopedic implants will grow at high CAGR during the forecast period. This is due to the increased incidence of bone-related diseases such as fractures and joint replacements, and the increased use of orthopedic implants.
Key findings of the antimicrobial coating market:
• The non-metallic coating segment is expected to have a CAGR of 13.8% from 2017 to 2023.
• The metal coatings segment accounted for approximately three-quarters of the global antimicrobial coatings market for medical implants in 2016.
• The Cardiac Implants segment accounted for over one-fifth share of the global antimicrobial coatings market for medical implants in 2016.
• Asia Pacific is projected to have the highest CAGR of 17.4% from 2017 to 2023.
• In 2016, North America accounted for approximately one-third of the global antimicrobial coating market for medical implants.
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North America was a major revenue contributor to the global antimicrobial coatings market for medical implants. This is due to the increasing incidence of chronic illness, the early adoption of technologically advanced coatings and the frequent use of implantable devices. However, the Asia-Pacific region is expected to grow at its highest CAGR during the study period due to affordable price increases, surges in healthcare costs, and increased awareness of transplant surgery.
The key companies featured in the report are aap Implantate AG, AST Products, Inc., BioCote Ltd, Covalon Technologies Ltd., DOT GmbH, Harland Medical Systems Inc., Hydromer, Inc., Koninklijke DSM NV, Sciences LLC, and Specialty Coating. Systems Co., Ltd.