Global Catheter Coatings Market to Reach $1.52 Billion by 2026: AMR

7 July 2020

Portland, OR, July 07, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research,the global catheter coatings market generated $918.9 million in 2018, and is estimated to reach $1.52 billion by 2026, registering a CAGR of 6.5% from 2019 to 2026. The report offers anextensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.

Surge in number of patients affected from catheter-associated urinary tract infection (CAUTI)drivesthe growth of the global catheter coatings market.However,high cost associated with raw materialshinders the market growth. Furthermore,increasing population of aging people and rise in demand for better healthcare facilities is expected to create new growth opportunitiesfor the market player during the forecast period.

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Covid-19 scenario:

  • Several major manufacturers of catheter coatings across the globe have halted their production during Covid-19 pandemic due to disrupted supply of raw materials such as silicone and latex amid lockdown.
  • The demand for catheter coatings is likely to increase during the Covid-19 pandemic for manufacturing of urinarycathetersystems to treat the bedridden aging people suffering from catheter-associated urinary tract infection.

The report offers a detailed segmentation of the global catheter coatings market based onmaterial, type, and region.

Based on material, the polymer segment contributed to the largest share in 2018, accounting fornearly three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is estimated to portray the highest CAGR of 6.7% during the forecast period.The report also offers analysis of the metal segment.

Based on type, the hydrophilliccoatings segment accounted for the largest share in 2018, holding more than two-fifthsof the total share, and is expected to maintain the largest share throughout the forecast period. In addition, it is expected to register the highest CAGR of 7.3% from 2019 to 2026.The report provides analysis of segments such as drug-eluting coatings, anti-microbial coatings, and others.

Based on region, North Americacontributed the highest share, accounting formore than one-third of the total market sharein 2018, and will maintain its dominance throughout the forecast period.However,Asia-Pacific is expected to grow at the highest CAGR of 8.1% from 2019 to 2026.

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Leading market players analyzed in the research include Biocoat Incorporated, B. Braun Melsungen AG,CuumedCatheter Medical Co., Ltd.,Covalon OEM Technologies, Lipocoat BV,Hydromer, Royal DSM, Polyone Corporation, Surmodics, Inc., and Specialty Coating Systems Inc.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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