The Antimicrobial Coatings Market Growth impelled by rising instance of hospital-acquired infections (HAIs), increasing health care associated infections and rising use of antimicrobial coatings in healthcare setting for sterilization of medical devices.
Pune, India., July 21, 2021 (GLOBE NEWSWIRE) -- Antimicrobial Coatings Market: Key Insights
According to our new research study on “Antimicrobial Coatings Market to 2027 – Global Analysis and Forecast – by Raw Material, Application, and Geography,” the Antimicrobial Coatings Market Size is projected to grow from US$ 2,918.30 million in 2019 to US$ 7,514.56 million by 2028; it is expected to grow at a CAGR of 11.2% during 2020–2028.
Antimicrobial Coatings Market: Competitive Landscape and Key Developments
Cupron, Alistagen Corporation, AK Coatings Inc., Fiberlock, Microban International Ltd., PPG Industries Inc., Akzo Nobel N.V., DuPont de Nemours, Inc., Nano-Care Deutschland AG, and Axalta Coating Systems are among the major players operating in the global antimicrobial coatings market. In 2020, PPG, through its JOHNSTONE brand, launched Anti-Bacterial Matt paint, designed for use throughout the home to restrict bacterial growth on walls.
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In 2019, North America held the largest share of the global antimicrobial coatings market. The US is a major market for antimicrobial coatings in this region, followed by Canada and Mexico. Many key antimicrobial coatings manufacturers are located in the region. In addition, the presence of a large COVID-19 patient pool and substantial investments in the strengthening of healthcare system are contributing to the market growth. Furthermore, owing to the stringent regulations governing indoor air quality, HVAC system manufacturers are applying antimicrobial coatings on product surfaces to ensure the necessary air quality by inhibiting the growth of molds and bacteria. Moreover, the introduction of the “Affordable Healthcare Act” in the US has encouraged the reconstruction and restructuring of healthcare systems and hospitals, eventually boosting the demand for antimicrobial coatings.
Healthcare-associated infections (HCAI) or nosocomial infections are generally transmitted via equipment and devices such as catheters or ventilators that are used during several medical procedures. The prevalence of HCAI diseases has been rising over the period, which has become a serious concern in various economies. As per the World Health Organization (WHO), ~7% and ~10% of patients from developed and developing economies, respectively, suffer from healthcare-associated infections during medical treatment. Conditions arising from HCAIs are the sixth leading cause of death in western countries, and the conditions are worse in 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 body fluids such as blood and urine, which help prevent the transfer of infectious microbes from body parts to equipment surfaces.
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Antimicrobial Coatings Market: Segmental Overview
Based on raw material, the antimicrobial coatings market is segmented into silver, copper, titanium dioxide, and others. The silver segment dominated the market and accounted for around one-third of the market in 2019. Among all the listed raw materials, silver exhibits most effective antimicrobial activities and least toxicity to animal cells. In addition, its long-lasting impact and durability are encouraging its use in the antimicrobial coatings, which are suitable for the medical and healthcare, food & beverages, and other industrial applications. These coatings ensure occupational safety and hygiene, and prevent the growth of COVID-19 virus, bacteria, and other microbes on commonly touched surfaces. Based on application, the antimicrobial coatings market is segmented into medical, HVAC, mold remediation, building and construction, foods and beverages, and others. In 2019, the medical segment dominated the market, with a share of ~27.0%. Continuous rise in the number of hospitals, combined with the growing need for healthcare services, generates a demand for advanced technologies and equipment, including antimicrobial coatings.
Impact of COVID-19 on Antimicrobial Coatings Market:
The COVID-19 has highlighted the need to prevent the spread of microbial infections via contaminated surfaces. However, the shutdown of manufacturing plants and discontinuation of trades have hampered the antimicrobial coating market to some extent. As the economies have started to revive their operations, demand for the coatings is on rise since the beginning of 2021. The rising preference for these coatings in government and private healthcare facilities, coupled with significant investments by prominent manufacturers to protect doctors and medical workers during the COVID-19 pandemic, is driving the antimicrobial coatings market growth.
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