The North America Antimicrobial Coatings Market was worth USD 1.45 billion in 2022 and is projected to grow at a CAGR of 11.1% to reach USD 2.18 billion by 2028.
Market Overview:
The issues of bacterial infection and increasing awareness of health and hygiene have resulted in the healthcare industry's demand for antimicrobial coating. The primary factor driving the growth of the market is the infection associated with the implanted medical devices in the patient's body. North America is heading the demand for antimicrobial coatings and is anticipated to be the fastest-growing market shortly. The region's fastest growth main reasons are increasing healthcare spending and high consumer living standards in the area. Mostly bacterial infection causes severe problems that lead to multiple health issues and the cost burden for both the patient and health care settings. The antimicrobial coatings for a wide variety of medical devices are non-toxic, bio-compatible, and bio-stable, thereby boosting the market growth.
The manufacturers follow the regulatory standards established by the Environmental Protection Agency (EPA) and other environmental protection agencies to develop new coatings with different formulations like antibacterial and anti-odor properties. As a result, the increasing demand for these coatings is becoming a significant driver for the antimicrobial coatings market due to the rising number of diseases. Demand for all these coatings is growing due to increasing demand from North America and Europe, where governments raise awareness in the medical industries about these coatings. Governments in all countries are focused on the need to reduce hospital-acquired infections, which in recent years has been a significant concern.
Health issues related to the use of silver in coatings increased the need for effectiveness and product development for textile applications. A tight regulatory scenario is some of the factors that somehow hinder the growth of the demand for antimicrobial coatings. Besides, lack of technical knowledge in developing and developed nations and uncertainty in the prices of raw materials are other factors that can hamper the growth of the market.
Regionally, the United States leads the antimicrobial coatings market due to the high adoption rate of antimicrobial coatings in the healthcare and residential sectors. This region witness high mortality due to hospital-acquired infections.
Companies playing a dominant role in the North America Antimicrobial Coatings Market profiled in this report are Akzonobel, Nippon Paint Company, DOW Chemical Company, Damond Vogel, Sherwin Williams, BASF SE, Axalta Coating Systems, RPM International, Lonza Group, and Royal DSM.
Market-Segmentation:
Regionally, the North American antimicrobial coatings market is anticipated to dominate the global market during the forecast period owing to the increasing production of processed food, and ongoing innovation in the healthcare industry. Growing issues of bacterial infection and growing awareness are relevant to health and hygiene, which fuel the demand for the market.
The U.S. antimicrobial coatings market is leading the North American market due to the tremendous adoption rate of antimicrobial coatings in the healthcare sector and the residential area. The region anticipates a high death rate as of hospital-acquired infections. The U.S. is expected to grow due to improved medical amenities and healthcare infrastructure.
The Canadian market is the second-largest leading country next to the US due to continuous investments in the development of the healthcare sector, supporting growth. Various initiatives are taken by the governments and hospitals in this region to prevent nosocomial infections. Growing healthcare expenditure and high consumer living standards and increasing demand for the antimicrobial coatings market is likely to accelerate the growth during the forecast period.
Market Key Players:
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