The global medical device coating market is expected to grow at a 5.16 percent compound annual growth rate, reaching $10.1 million by 2023, and the orthopedic market segment is expected to see the fastest growth, according to a Market Research Future report.
Here are three things to know.
1. The cost of surgical site infections as well as the hospital readmission program created under the Affordable Care Act are driving market growth. North America accounts for the largest market share, with the U.S. leading the pack.
2. The Asia Pacific market region is expected to grow at the highest CAGR at 6.39 percent during the forecast period .
3. Antimicrobial medical device coating market segment accounted for the largest share in 2016.
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