06.12.06
High-value combination products are part of the impetus behind the increasing worldwide sales of coatings and surface modifications used in manufacturing medical devices. With benefits such as longevity, functionality and cost effectiveness of medical devices using these coatings, medical device manufacturers are increasingly utilizing coatings in their designs and have grown this market tremendously.
Reaching sales of $2.96 billion in 2005 alone, the market is projected to reach an average annual growth rate of 12.4% to more than $5.31 billion by 2010.
According to a report, Medical Device Coatings (RGB-327), from BCC Research in Norwalk, CT, coatings are the most rapidly expanding sector in the $213 billion global medical device market. Coatings sales in the United States were valued at
$1.5 billion in 2005, making up approximately half of the global market for that year. Projections indicate that the US market will grow to more than $2.7 billion by 2010, with the European market forecast to grow at 13.3% to reach 26% of the total market by 2010.
BCC Research estimates that the greatest demand for coated medical devices will come from cardiovascular, dentistry, general/plastic surgery, neurology, ophthalmology, orthopedic and radiology markets. The rapid acceptance of drug-eluting stents, a mainstay treatment used by surgeons around the world, suggests that the demand for coated versions of new and existing medical devices will increase just as rapidly.
Reaching sales of $2.96 billion in 2005 alone, the market is projected to reach an average annual growth rate of 12.4% to more than $5.31 billion by 2010.
According to a report, Medical Device Coatings (RGB-327), from BCC Research in Norwalk, CT, coatings are the most rapidly expanding sector in the $213 billion global medical device market. Coatings sales in the United States were valued at
$1.5 billion in 2005, making up approximately half of the global market for that year. Projections indicate that the US market will grow to more than $2.7 billion by 2010, with the European market forecast to grow at 13.3% to reach 26% of the total market by 2010.
BCC Research estimates that the greatest demand for coated medical devices will come from cardiovascular, dentistry, general/plastic surgery, neurology, ophthalmology, orthopedic and radiology markets. The rapid acceptance of drug-eluting stents, a mainstay treatment used by surgeons around the world, suggests that the demand for coated versions of new and existing medical devices will increase just as rapidly.