Frost: Medical Devices Ensure Growth for Antimicrobial Coatings Market
May 23, 2006
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An overwhelming need to arrest the hospital-acquired infection rates in the U.S. is a serious concern in the health care industry.
According to Frost & Sullivan, the ability of antimicrobial coatings to address this issue expects to offer good growth opportunities.
Recent analysis from Frost & Sullivan found that the U.S. antimicrobial coatings markets earned revenues of $175.4M in 2005 with estimates to reach $558.7M by 2012.
The market expects to grow with the increasing need to address microbial growth in end-application markets like health care facilities, mold remediation markets and heating, ventilating and air conditioning (HVAC) equipment markets.
The need to arrest microbe growth in applications such as hospitals, day care centers and indoor environments positively impacts the growth of the antimicrobial coatings market for the U.S. Analysts said the increasing knowledge and familiarity about the advantages of antimicrobial coatings protection is favoring the growth of the market.
"An increasing pressure to resist the hospital-acquired infection rates is expected to play a crucial role in the growth of this market in the medical domain with its usage in wound dressings and catheters," said Frost & Sullivan research analyst Rajesh Varadarajan. "Antimicrobial coatings is increasingly seen to ensure good indoor air quality with its presence in HVAC equipments and in the mold remediation market to subside mold formation."
Analysts said the false claims of some companies and the reluctance of others to adopt new technologies could impede growth of the antimicrobial coatings market. Another challenge is the lack of awareness shown by end-users of the product's benefits. Also, some companies are not living up to the claims earlier promised. This affects the market as OEMs question the efficacy of product performance.
"Medical devices manufacturers fear that the physical property of the device must be altered to accommodate the coating which, as a result, has resisted the usage of antimicrobial coatings. The end-user's familiarity with antimicrobial coatings affects the entire market," said Varadarajan.
Analysts said antimicrobial coatings suppliers should undertake initiatives to educate and spread awareness about the product, as well as its benefits. Companies will have to focus on R&D activities to create competitive products, and should offer extended product lines that provide a broad-spectrum application reach in health care facilities.
Source: Frost & Sullivan.