April 10, 2017
Wellesley, Mass., Apr 10, 2017 – New proprietary research by BCC Research reveals that the maturation of the coating technology market, along with factors such as medical practice consolidation and fewer joint replacement candidates, will constrain growth in the demand for medical device coating and surface treatments.
BCC Research's Medical Device Coatings forecasts the global market for medical device coatings and surface treatments to register a 2.2% CAGR between 2016 and 2021, with global demand reaching $7.9 billion in 2021, up from $7.1 billion in 2016.
"In the process of improving health, the medical device coating and treatment business has matured into a sustainable enterprise. As such it has also begun to experience the stabilization of growth that normally accompanies the industry wide adoption of every new technology," says Kevin Fitzgerald, BCC Research editorial director. "Simply put: products that are likely to benefit from the use of coatings already use them."
Mature Industry at the Mercy of Healthcare Regulation?
As coated medical devices became increasingly involved in treating diseases and injuries, the industry finds itself drawn further into the realm of healthcare regulation, which, like the device industry, has become a highly internationalized business.
"The dependency of coating suppliers upon the demand for medical devices means the industry will be whipsawed by economic shocks that strike the device business, such as the proposed end of the Affordable Care Act, which expanded the availability of joint replacements to countless thousands in the United States," says Fitzgerald. "Should this provision of the law be repealed and not replaced, uninsured individuals who medically qualify for joint replacements could be forced to defer treatment until they become Medicare eligible at age 65, further deterring market growth."
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Medical Device Coatings: Global Markets( HLC049E )
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