The global catheter coatings market was valued at $918.9 million in 2018 and is projected to reach $1,527.3 million by 2026, registering a CAGR of 6.50% from 2019 to 2026. Catheters are tubular medical devices that are inserted into a patient’s body for delivering drugs or fluids, and are also helpful in removing harmful substances from the body. These devices are used in several post-surgery procedures, most commonly in bladder, bowel, urinary tract, and spinal surgeries. Since these devices are directly inserted in the body, catheters are coated with an additional material for preventing infection. Catheter coatings play a major role in catheterization. Catheterization offers reduction in friction among the body tissues and decreases incidences of infections & encrustation. These devices are available in an extensive range of coatings such as antimicrobial coatings, hydrophilic coatings, and drug-eluting coatings, among others.
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Catheters are mostly coated in order to prevent infections, any discomfort due to friction of these devices with tissues while minimizing risks of allergies associated with certain materials such as latex. As per the data published by American Association of Critical-Care Nurses, in 2016, catheter-associated urinary tract infection (CAUTI) is one of the most common infections. Around 13,000 deaths are associated with UTIs (urinary tract infections) each year. Each CAUTI incurs an approximate medical cost of $758.0 and a total of over $340.0 million are spent over healthcare due to the growth in incidences of CAUTI in the U.S. each year. In order to avoid these health-related problems and prevent microbial colonization, catheter coating procedures were introduced. In addition, major medical coating companies are developing advanced coating materials for catheters such as combination of antimicrobial and hydrophilic coatings, to avoid catheter-associated urinary tract infection (CAUTI).
The growth of the global catheter coatings market is majorly driven by surge in prevalence of diseases such as CAUTI, increase in demand for coating materials such as antimicrobial, hydrophilic, lubricious coatings, and rise in demand for cardiovascular & urology catheters. However, time-consuming product approval process and volatile raw material prices hinder the growth of the global catheter coatings market. Conversely, increase in awareness about novel surgeries, surge in geriatric population, and increase in demand for better healthcare facilities are expected to provide lucrative opportunities for the market growth during the forecast period.
The catheter coatings market is segmented on the basis of material, type, and region. By material, the market is bifurcated into metal and polymer. On the basis of type, the catheter coatings market is divided into hydrophilic coatings, drug-eluting coatings, anti-microbial coatings, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
– This report provides a detailed quantitative analysis of the current market trends and future estimations from 2019 to 2026, which assists to identify the prevailing market opportunities.
– An in-depth analysis of various regions is anticipated to provide a detailed understanding of the current trends to enable stakeholders to formulate region-specific plans.
– A comprehensive analysis of the factors that drive and restrain the growth of the global catheter coatings market is provided.
– An extensive analysis of various regions provides insights that allow companies to strategically plan their business moves.
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KEY MARKET SEGMENTS
– By Type
– By Materials
o Hydrophilic Coatings
o Drug-eluting Coatings
o Anti-microbial Coatings
– By Region
o North America
– Rest of Europe
– South Korea
– Rest of Asia-Pacific
– Saudi Arabia
– South Africa
– Rest of LAMEA
KEY MARKET PLAYERS
– B. Braun Melsungen AG
– Biocoat Incorporated
– Covalon OEM Technologies
– Cuumed Catheter Medical Co., Ltd.
– LipoCoat BV
– Polyone Corporation
– Royal DSM
– Specialty Coating Systems Inc.
– Surmodics, Inc.
Contact Person: Sameer Joshi
Email Id: [email protected]
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