The global market for hydrophilic coatings features a
highly fragmented competitive landscape owing to the presence of a
large number of vendors, with the leading five vendors accounting
cumulatively for only around 20% of the overall market in 2016,
states a recent report by Transparency Market Research (TMR).
Exhibiting a high level of competition, standing of companies in the
market is highly influenced by their focus on R&D activities
aimed at keeping deliverables technologically advanced and improvised
as per changing consumer demands.
Strategic acquisitions aimed at expanding
geographical presence and adding new products to portfolios are also
popular strategies adopted by companies to stay ahead of competition.
In instance is the January 2016 alliance between AdvanSource
Biomaterials Corp. and Medibrane Ltd., a leading Israeli coating
technology company. AdvanSource Biomaterials entered into the
collaboration.
This 211 page report gives readers a comprehensive
overview of the Hydrophilic Coatings market. Browse Market Research
Report @
Transparency Market Research estimates that the
global market for hydrophilic coatings was valued at US$481.6 mn in
2016 and will reach US$1,026.6 mn in 2025, expanding at a CAGR of
8.8% between 2017 and 2025.
Polymers to Remain Most Preferred Substrate for
Coating Hydrophilic Coatings
On the basis of the type of substrate on which
hydrophilic coatings are applied, the segment of polymers accounted
for the dominant share of around 48% of the overall market in 2016.
The vast usage of polymers coated with hydrophilic coatings in the
medical devices industry is expected to keep the demand for polymers
as a substrate high in the global hydrophilic coatings market over
the forecast period as well. In terms of geography, North America has
been dominating the hydrophilic coatings market over the past few
years. The region held over 35% share of the global demand for
hydrophilic coatings in 2016 and the trend is projected to continue
during the forecast period as well.
Rising Demand for High-end Medical Devices to
Boost Global Consumption
One of the key forces driving the global market for
hydrophilic coatings is the increasing usage of these coatings in the
field of medical devices. The controlled level of lubricity allowed
by hydrophilic coatings to medical devices, which assuages the
natural resistance that vascular inner surfaces exhibit as a result
of striction, making their usage more convenient when in use across
vascular operations, makes them more preferable as compared to other
coatings.
These coatings also decrease the possibility of
infection due to the presence of antimicrobial agents and increase
the ease with which a medical device is inserted into the body. The
vast rise in expenditure on healthcare due to rising demand for
better medical and healthcare facilities, especially across emerging
economies boasting a rapidly rising middle class with high disposable
incomes, will boost the consumption of medical devices, which, in
turn, is expected to drive the market for hydrophilic coatings.
Strict Regulatory Compliances to Negatively Affect
Market Growth
Although the global hydrophilic coatings market has
excellent growth prospects, some factors are expected to hinder its
growth to a certain extent over the forecast period. These include
stringent government regulations related to medical devices and the
high processing costs involved in coating medical devices with
hydrophilic coatings. Stringent regulations such as the FDA 510 K
Clearance Act refrain new hydrophilic coatings manufacturers from
entering the market. Additionally, the high costs associated with
processing and licensing hydrophilic coatings compel manufacturers to
look for inexpensive alternatives, hampering the growth prospects of
the global hydrophilic coatings market to a certain extent.
Get accurate market forecast and analysis on the
Hydrophilic Coatings market. Request a sample to stay abreast on the
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This review of the global hydrophilic coatings market
is based on a recent market research report, titled “Hydrophilic
Coatings Market (Substrate Type - Polymers, Metals and Metal Alloys,
and Glass and Other Ceramics; Application - Automotive, Aerospace,
Medical Devices (Cardiovascular, Urology, Neurology, and General
Surgery), Optical, and Buildings) - Global Industry Analysis, Size,
Share, Growth, Trends and Forecast 2017 - 2025.”
For the study, the market has been segmented as
follows:
Hydrophilic Coatings Market – Substrate Analysis
- Polymers
- Metals & Metal Alloys
- Glass & Other Ceramics
Hydrophilic Coatings Market – Application
Analysis
- Automotive
- Aerospace
- Medical Devices
- Cardiovascular
- Urology
- Neurology
- General surgery
- Others (Ophthalmology, gynecology, etc.)
- Optical
- Others (including Buildings, etc.)
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