Antiviral & Antimicrobial Coatings Market by Type (Antimicrobial, Antiviral), Material (Copper, Silver, Aluminum), Form (Powder, Aerosol), Application (Healthcare, Building & Construction, Automotive, Packaging), and Geography – Forecast to 2028

The Antiviral & Antimicrobial Coatings Market is expected to grow at a CAGR of 11.7% from 2021 to 2028 to reach $8.53 billion by 2028. Antiviral & antimicrobial coatings are used to restrict the growth of viruses and other microorganisms. These coatings provide long-lasting protection against microorganisms and help maintain permanent hygiene. They have wide applications in healthcare, building & construction, food & beverage, packaging, air & water treatment, automotive, protective clothing, and other industries like oil & gas, electronics, and aeronautics & defense.

The growth of this market is mainly attributed to the increasing incidence of healthcare-associated infections, the rising number of food product recalls due to microbial contamination, and government initiatives & funding for the development of antimicrobial coatings. Favorable development in the emerging economies is expected to offer significant growth opportunities for players in this market. However, stringent government regulation on the emission of volatile organic compounds (VOCs) is expected to restrain the growth of this market to a certain extent. Additionally, the growing antimicrobial resistance among micro-organisms is expected to pose challenges to market growth.

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According to the findings presented in the report, the home medical equipment market is poised to burgeon to $62.89 billion by the year 2030, reflecting a robust CAGR of 6.8% from 2023 to 2030. Key factors propelling this growth trajectory include the escalating incidence of chronic ailments alongside an aging population, relentless technological innovations in home medical equipment, escalating healthcare expenditure, and the burgeoning acceptance of self-health management paradigms. Moreover, burgeoning economies are slated to furnish significant avenues for market expansion. However, challenges such as the exorbitant costs associated with medical equipment and the absence of reimbursement frameworks for home medical equipment are anticipated to temper market growth.

According to the findings presented in the report, the home medical equipment market is poised to burgeon to $62.89 billion by the year 2030, reflecting a robust CAGR of 6.8% from 2023 to 2030. Key factors propelling this growth trajectory include the escalating incidence of chronic ailments alongside an aging population, relentless technological innovations in home medical equipment, escalating healthcare expenditure, and the burgeoning acceptance of self-health management paradigms. Moreover, burgeoning economies are slated to furnish significant avenues for market expansion. However, challenges such as the exorbitant costs associated with medical equipment and the absence of reimbursement frameworks for home medical equipment are anticipated to temper market growth.

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The growth of this market is driven by the rising demand for blood and blood-related products, the increasing number of surgical procedures being performed globally, and technological advancements and automation in blood banking devices. In addition, untapped opportunities in emerging countries and the supportive initiatives to promote blood transfusion offer significant opportunities for the growth of this market.

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