ALBANY, NY – A new market report projects the global medical device coatings market to increase from $4.7 billion in 2009 to $7.5 billion in 2014, with a compound annual growth rate of 9.9 percent. The implant device market will exceed $50 billion by 2015. The microelectronic medical implants market was worth $15.4 billion in 2010, with pacemakers being the most well known of these devices.
Medical device coatings are widely used to augment product surface function and to improve performance. Coatings help in reducing friction between devices and tissues, and provide surface coverage, wetting, uniform adhesion, wear-resistance, and coating homogeneity. Many medical devices require non-stick coatings over molded, electrical insulation, biocompatible or other finishes.
Some of the major factors driving the medical device coatings market are growth in medical industries as well as the growth in emerging economies. Factors such as product aging, low shelf life and rising costs are restraining the growth of this market.
This detailed study includes trend analysis, market numbers, industry growth drivers and restraints along with the future market projections. It includes analysis of current developments, Porter’s five force analysis and detailed profiles of top industry players. The report also discusses the importance of macro and minor factors important for existing market players and new entrants.
For additional information about the report, visit http://www.transparencymarketresearch.com/medical-device-coatings-market.html.