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/EIN News/ -- New York, United States, Aug. 09, 2022 (GLOBE NEWSWIRE) -- The global antimicrobial coatings market is expected to grow due to the rising global healthcare spending and growth of the medical devices industry. According to the US Centers for Medicare & Medicaid Services, healthcare spending in the United States climbed by 4.60% in 2018, hitting USD 3.6 trillion. Healthcare spending accounted for more than 17.70% of the country's GDP in 2018, and this trend is likely to continue over the forecast period. According to the same source, healthcare spending in the United States is predicted to grow at a 5.40% annual rate from 2019 to 2028, reaching USD 6.2 trillion. This rapid development is projected to be driven by the rising demand for medical care among the aging population (65 and older), the prevalence of chronic disorders and diseases, infrastructure improvements, and technology innovations. As a result, demand for antimicrobial coatings is likely to rise as the medical device markets grow.
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North America and Europe are the two most important markets for antimicrobial coatings. With a market value of USD 12,995.42 million by 2030, North America is expected to be the largest market for antimicrobial coatings. The United States offers an appealing market opportunity for key market players among all the regional countries. High demand for advanced healthcare services is expected to drive demand for medical devices, boosting demand for antimicrobial coatings over the forecast period, owing to the availability of well-developed healthcare infrastructure, and reimbursement coverage in the country. As a result, rising demand for minimally invasive surgeries, innovative implant devices, and the availability of modern healthcare infrastructure are likely to be among the favorable growth factors in the United States. Thus, the demand for antimicrobial coatings in the United State is expected to grow over the forecast period
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Growth in Medical Devices Industry to Drive the Antimicrobial Coatings Market Antimicrobial coatings can be found on various medical devices, including catheters, implanted devices, and surgical instruments. Antimicrobial coating technology is one of the most effective ways to improve infection control in healthcare without jeopardizing patient care. Medical devices are more likely to become infected, resulting in healthcare-associated infections (HAI). As a result, antimicrobial coatings on medical devices help to prevent bacteria and germs from growing and spreading.
The medical device sector is flourishing rapidly all around the world. Medical device demand is being driven by increased healthcare spending, the growing home healthcare sector, the growing senior population, particularly in North America and Europe, and the rising incidence of cardiovascular diseases. Furthermore, increased demand for better healthcare facilities and an increase in the number of hospitals have encouraged the medical device industry's growth. In 2020, North America overtook Europe as the world's largest market for medical equipment. The need for medical devices is being fueled by rising healthcare spending and the presence of well-equipped hospitals and healthcare centers in North America. Thus, the growing demand for medical devices will likely drive the demand for antimicrobial coatings over the forecast period
Impact of COVID-19 The advent of the COVID-19 pandemic positively impacted the antimicrobial coatings market growth. Antimicrobial coatings have become increasingly popular in the medical and healthcare industries. Antimicrobial coatings got a lot of attention during the COVID-19 pandemic. They were utilized to limit the spread of hospital-acquired infections (HAIs) at various temporary and existing healthcare facilities. For the global antimicrobial coatings market, the post-pandemic period will be crucial. As the COVID-19 outbreak passes, the market's growth will moderate slightly. Other factors, such as the increasing importance of cleanliness to prevent illnesses worldwide, will continue to drive market growth over the forecast period. Overall, the global antimicrobial coatings market will swiftly rebound and show signs of growth following the pandemic.
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List of Key Players
Global Antimicrobial Coatings Market: Segmentation By Product
TABLE OF CONTENT 1 Introduction 1.1 Market Definition 1.2 Market Scope 2 Research Methodology 2.1 Primary Research 2.2 Research Methodology 2.3 Assumptions & Exclusions 2.4 Secondary Data Sources 3 Executive Summary 4 Market Overview 4.1 Report Segmentation & Scope 4.2 Value Chain Analysis: Antimicrobial Coatings Market 4.2.1 Vendor Matrix 4.3 Key Market Trends 4.3.1 Drivers 4.3.2 Restraints 4.3.3 Opportunities 4.4 Porter’s Five Forces Analysis 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Environment & Regulatory Landscape 4.6 Forecast Factors & Relevance of Impact 4.7 Macro-Economic & Geopolitical Scenario 4.8 Parent Market Overview 4.9 Technology Landscape 4.10 Market Share Analysis 4.11 Potential Venture Analysis 4.12 Regional Price Trends 4.13 Raw Material Trends 4.14 Cost Structure Analysis 4.14.1 Labor Cost 4.14.2 Consumables 4.14.3 Maintenance Cost 4.15 Covid-19 Impact Analysis: 4.15.1 Pre and Post Covid-19 Market Scenario Analysis 4.15.2 Market Recovery Timeline and Challenge 4.15.3 Measures Taken by Top Players 4.15.4 Quarterly Market Revenue and Growth Forecast till 2021 4.15.4.1 North America 4.15.4.2 Europe 4.15.4.3 Asia-Pacific 4.15.4.4 Central and South America and the Caribbean 4.15.4.5 The Middle East and Africa 5 Product Overview 5.1 Introduction 5.1.1 Market Size & Forecast (Value & Volume) 5.2 Antimicrobial Powder Coatings 5.2.1 Market Size & Forecast (Value & Volume) 5.3 Surface Modifications and Coatings 5.3.1 Market Size & Forecast (Value & Volume) 6 Application Overview 6.1 Introduction 6.1.1 Market Size & Forecast (Value & Volume) 6.2 Sanitary Facilities and Kitchen 6.2.1 Market Size & Forecast (Value & Volume) 6.3 Air Conditioning and Ventilation Systems 6.3.1 Market Size & Forecast (Value & Volume) 6.4 Food Processing and Packaging 6.4.1 Market Size & Forecast (Value & Volume) 6.5 Antimicrobial Textiles 6.5.1 Market Size & Forecast (Value & Volume) 6.6 Mold Remediation 6.6.1 Market Size & Forecast (Value & Volume) 6.7 Medical Devices 6.7.1 Market Size & Forecast (Value & Volume) 7 Regional Overview 7.1 Introduction 7.1.1 Market Size & Forecast (Value & Volume) 7.2 North America 7.2.1 Economic Overview 7.2.2 Market Scenario 7.2.3 U.S. 7.2.4 Canada 7.2.5 Mexico 7.3 Central and South America and the Caribbean 7.3.1 Economic Overview 7.3.2 Market Scenario 7.3.3 Brazil 7.3.4 Argentina 7.3.5 Colombia 7.3.6 Rest of Central and South America and the Caribbean 7.4 Europe 7.4.1 Economic Overview 7.4.2 Market Scenario 7.4.3 Germany 7.4.4 France 7.4.5 The U.K. 7.4.6 Italy 7.4.7 The Rest Of Europe 7.5 Asia-Pacific (APAC) 7.5.1 Economic Overview 7.5.2 Market Scenario 7.5.3 China 7.5.4 Japan 7.5.5 India 7.5.6 Australia 7.5.7 South Korea 7.5.8 Rest Of APAC 7.6 Middle East 7.6.1 Economic Overview 7.6.2 Market Scenario 7.6.3 South Arabia 7.6.4 The UAE 7.6.5 Qatar 7.6.6 Oman 7.6.7 Turkey 7.6.8 The Rest Of Middle East 7.7 Africa 7.7.1 Economic Overview 7.7.2 Market Scenario 7.7.3 Nigeria 7.7.4 South Africa 7.7.5 The Rest Of Africa 8 Competitive Landscape — Manufacturers & Suppliers 8.1 Competition Dashboard 8.2 Industry Structure 8.3 Akzo Nobel N.V 8.3.1 Business Overview 8.3.2 Financial Performance 8.3.3 Recent Developments 8.3.4 Portfolio 8.4 BASF 8.5 Lonza 8.6 Diamond Vogel 8.7 DuPont 8.8 Axalta Coating Systems 8.9 Nippon Paint Holdings Co. Ltd. 8.10 PPG Industries 8.11 RPM International Inc. 8.12 Koninklijke DSM N.V 8.13 Burke Industrial Coatings 8.14 The Sherwin-Williams Company 8.15 Troy Corporation 9 Conclusion & Recommendation 10 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/antimicrobial-coatings-market/toc
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