Bioactive Coating Devices Market Size will go through significant expansion from 2022 to 2028. The growing prevalence of joint problems and heart diseases leading to an upsurge in the number of cardiovascular and orthopedic surgeries is likely to foster the demand for these devices in the forthcoming years.
The rapid surge in the use of blood-contacting implantable devices like heart valves, stents, extracorporeal support systems, vascular grafts, ventricular assist devices will propel the industry outlook in the foreseeable future. Thin bioactive films on implantable devices prevent clotting or inflammation and enhance local tissue repair and device integration. The application of these devices has significantly reduced the replacement and corrective surgical procedures and hence is gaining immense popularity among patients and healthcare professionals.
The rising number of hip and knee implant surgeries among the obese and aging population is likely to bolster the bioactive coating devices market outlook in the years ahead.
Furthermore, increasing R&D investment by eminent market players to introduce new and improved technologically advanced products and inflating government expenditure to improve healthcare infrastructure is likely to elevate industry share in the upcoming years.
Regarding the product type, the antimicrobial coatings segment may bring substantial gains to the bioactive coating devices market over the analysis timeframe. Antimicrobial coatings consist of chemicals that hinder the growth of disease-causing microbes on a surface and increase its corrosion resistance, durability, and appearance. These coatings are gaining traction due to their several benefits like lasting protection against pathogens, longer lifespan, cost-effectiveness, improved health and cleanliness, and additional infrastructure value.
With respect to the product application, stents are likely to portray significant growth trends, driven by the prevalence of cardiovascular diseases among the aging population. The bioactive coating on stents prevents them from contamination and improves their reliability, functionality, and life span, significantly reducing the risk of corrective surgical procedures.
Diagnostic centers may emerge as a major end-use segment over the forecast timeframe due to the availability of advanced equipment and skilled and certified medical staff. Furthermore, the increasing requirement for better supervision and treatment along with improved healthcare infrastructure in these settings will support the segment expansion.
North America bioactive coatings market is likely to expand considerably in the forthcoming years, owing to the availability of advanced healthcare facilities and favorable reimbursement policies in the region. The rapid upsurge in the geriatric population suffering from cardiovascular and orthopedic diseases and supporting government norms will further support the regional growth.
Some of the notable players of the bioactive coatings market include Hydromer, DSM Biomedical, SurModics, Biocoat, AST Products, Picosun, and Specialty Coatings System. These players are focusing on several growth strategies to sustain market competition and expand their product portfolio.
COVID-19 acutely harmed the bioactive coating devices market last year. The increasing risk of infection among the aging population and the people with cardiovascular diseases and government restrictions on non-essential treatment significantly limited the hospital visits. In addition, the declining socio-economic conditions of people across the globe substantially reduced the healthcare expenditure among major economies.
However, with the end of COVID restrictions, improving economic growth, and the increasing number of vaccinations will help the industry is expected to recover shortly and experience appreciable growth trends in the upcoming years.
Market, By Product Type
Market, By Medical Application
Market, By End-user
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