Publication Month: Apr 2021 | Report Code: TIPRE00009037 | No. of Pages: 148 | Category: Chemicals and Materials | Status: Published
The increasing health care associated infections and rising use of antimicrobial coatings in healthcare setting for sterilization of medical devices propel the demand for antimicrobial coatings. The healthcare industry is expected to witness monumental transformation owing to the factors such as rapidly growing urbanization, rising instance of infectious diseases, and shifting lifestyle of consumers. However, the use of antimicrobial coatings is not limited to medical industry and has been expanding across diversified end-use industries such as indoor air/HVAC applications, building and construction, food & beverage, mold remediation, and packaging. With effective research studies and development procedures, researchers and scientists are coming up with innovative products related to antimicrobial coatings. The latest innovation is associated with the development of multifunctional, low cost, and durable antimicrobial coatings. This is expected to provide lucrative opportunities to the key players operating in the antimicrobial coatings market.
In 2019, North America held the largest share of the global antimicrobial coatings market. In the region, the US is a major market for antimicrobial coatings, followed by Canada and Mexico. The growth of the market in North America is attributed to the strong presence of several domestic and foreign players, and ongoing investments in the advancement of the healthcare sector across the US and Canada. In addition, the continuously rising number of COVID-19 patients also drives the antimicrobial coatings market growth.
The COVID-19 pandemic is adversely affecting economies and industries in various countries due to government-imposed lockdowns, travel bans, and business shutdowns. The chemical & materials is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in North America, Europe, Asia Pacific, South America, and the Middle East and Africa has restricted the global supply chain and negatively impacted the manufacturing activities, delivery schedules, and product sales. Furthermore, various companies have already predicted possible delays in product deliveries and slump in future sales of their products. The travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the activities in the chemical & materials industry, which are restraining the growth of various markets related to this industry.
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Healthcare-associated infections (HCAI) or nosocomial infections are the infections associated with the equipment and devices such as catheters or ventilators used during medical procedures. Over the period, there has been rising prevalence of HCAI diseases, which has become a serious concern among various economies. For instance, according to National Center for Biotechnology Information, it has been estimated that almost 2million patients in the US suffer from HCAI annually, out of which ~98,000 people die.Likewise, in the EU, the European Center for Disease Prevention and Control (ECDC) registers almost 4.1million acute care patients acquiring HCAI every year with ~37,000 deaths. Further, as per the World Health Organization (WHO), almost 7% and 10% of patients from developed and developing economies respectively have instance of healthcare associated infection during medical treatment. HCAIs poses major health challenge in healthcare units and the conditions arising from HCAIs is the sixth leading cause of death in western nations and even higher in other developing economies.
Therefore, in 2016, AMiCI, an association representing universities and institutes along with organizations and manufacturers, was formed in Europe to increase awareness among people and organizations about research and application of antimicrobial coatings. Antimicrobial coatings are the layers applied on medical equipment that are exposed to sensitive bodily fluids such as blood and urine. Medical equipment needs regular sanitation and disinfection with antimicrobial coatings to avoid infection arising from external bacteria. The rising focus toward impact of HCAI through several programs along with active participation of hospitals and manufacturers to generate the significance of the antimicrobial coatings is expected to stimulate the growth of the global antimicrobial coatings market during the forecast period.
The global antimicrobial coatings market, by raw material, is segmented into silver, copper, titanium oxide, and others. The silver segment led the market with the largest share in 2019. Silver has the most effective antimicrobial activity while being the least toxic to animal cells. Silver ions are produced when silver is added to water. These ions destroy and prevent biological growth, interfering with germ metabolism and membrane functions. Further, silver biocides can be found in hospital water systems, catheters, furniture, and almost in the operation theatre. Furthermore, in the late 1800s, silver nitrate was used to treat many eye infections in new-born infants, and physicians discovered that silver dressings helped wounds heal faster. The metal was used in surgical wound sutures and ulcer remedies, and it is still used today, with silver-embedded bandages proving to be especially effective in healing burn wounds. Silver's high effectiveness, low toxicity, long-lasting impact, and durability are among the major factors driving its demand. The antimicrobial coatings market growth for the silver segment is attributed to the rising demand from the medical & healthcare, food & beverage, and other industrial applications to ensure occupational safety and hygiene, and to prevent the growth of novel coronavirus that causes COVID-19, bacteria, and other microbes on commonly touched surfaces.
The global antimicrobial coatings market, by application, is segmented into medical, HVAC, mold remediation, building and construction, foods and beverages, and others. The medical segment led the market with the largest share in 2019. Antimicrobial coatings are used in medical devices to destroy or hinder the growth of microorganisms. The coatings help defend surfaces from various pathogens such as fungi, viruses, bacteria, and germs. Further, the growing number of hospitals, combined with the growing demand for healthcare services, generates a demand for advanced technologies and equipment, which boosts the growth of the antimicrobial coatings market. Moreover, the growing demand for biocompatible, nontoxic, and biostable antimicrobial coatings in catheters, implantable, and surgical instruments drives the market growth. Furthermore, the outbreak of the COVID-19 pandemic is expected to increase the demand for antimicrobial coated medical devices, which is expected to drive the market growth during the forecast period.
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|Market Size Value in||US$ 2,918.30 Million in 2019|
|Market Size Value by||US$ 7,514.56 Million by 2028|
|Growth rate||CAGR of 11.2% from 2020-2028|
|No. of Pages||148|
|No. of Tables||56|
|No. of Charts & Figures||75|
|Historical data available||Yes|
|Segments covered||Raw Material and Application|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
A few key players operating in the global antimicrobial coatings market are PPG Industries, Inc.; Axalta Coatings Systems; AkzoNobel N.V.; nano Care Deutschland AG; and DuPont de Nemours, Inc. Major market players are focused on strategies such as mergers and acquisitions, and product launches to increase their geographical presence and consumer base globally. For example, in November 2020, PPG announced that JOHNSTONE’S brand by PPG has launched Anti-Bacterial Matt paint. Company claimed that the use of paint throughout a home will restrict bacterial growth on walls.
The List of Companies - Antimicrobial Coatings Market