Wellesley, Mass, April 12, 2017 (GLOBE NEWSWIRE) -- 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.
Research Highlights
- Labor cost versus cost of new equipment is expected to constrain market growth.
- Improved device longevity will depress equipment purchases.
- Reallocation of healthcare funding in distressed nations is expected to slow growth.
"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 "Should this provision of the law be repealed and not replaced, uninsured individuals who medically qualify for joint replacements could be forced to defer treatment until they become Medicare eligible at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."
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.