22 November 2016 - - The global medical coatings market is projected to reach USD 15.15bn by 2021 at CAGR of 7.04% from 2016 to 2021, according to a new report from Dublin-based Research and Markets.

This high growth is fueled by the increasing demand for medical coatings from end-use industries such as healthcare, medical devices, and others.

Metals are widely used in the manufacture of medical devices and implants. For instance, some of the most common orthopedic surgeries implant metallic implants.

These range from simple screws and wires to fracture fixation plates and artificial joints for hips, shoulders, and knees.

The most commonly used metals for medical device applications are stainless steel, silver, commercially pure titanium, and titanium alloys.

Silicones are widely used in medical devices because of their biocompatibility in a variety of physical forms.

Silicone based coatings are used to encapsulate and seal permanent implants such as heart pacemakers and are also used to coat temporary implants such as catheters and surgical drains.

Thin elastomeric silicon coatings are also used to serve as replacements for soft tissues by forming an envelope to encapsulate gels and normal saline solutions.

The medical coatings market in the Asia-Pacific region is expected to grow at the fastest CAGR from 2016 to 2021, in terms of volume, and was led by China and Japan, in 2015.

The Asia-Pacific region was the third largest market, in terms of volume, in 2015. This growth is due to the growing awareness and demand for better medical and healthcare facilities in this region.

Also, rise in income levels and the purchasing power of consumers, is playing an important role in the growth of the medical coatings market in this region.

Top companies in the market include AST Products Inc., Abbott Laboratories, Biocoat Inc., Covalon Technologies Ltd., Harland Medical Systems Inc., Hydromer Inc., Precision Coatings Co. Inc., Royal DSM, Specialty Coating Systems Inc. and Surmodics Inc.