Growth Expected for Medical Device Coatings Market
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.