Global Medical Coatings Market Size, Share, and COVID-19 Impact, by Coating Type (Hydrophilic Coatings, Antimicrobial Coatings, Drug-Eluting Coatings, Anti-Thrombogenic Coatings, Others), Material (Metals, Ceramics and Polymers), Application (Medical Devices and Medical Implants), by Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032.
Global Medical Coatings Market Insights Forecasts to 2032
- The Global Medical Coatings Market Size was valued at USD 5.18 Billion in 2022.
- The market is growing at a CAGR of 10.6% from 2022 to 2032
- The Worldwide Medical Coatings Market is expected to reach USD 9.24 Billion by 2032
- Asia Pacific is expected to grow the fastest during the forecast period
The Global Medical Coatings Market Size is expected to reach USD 9.24 Billion by 2032, at a CAGR of 10.6% during the forecast period 2022 to 2032.
Medical coatings are specialised coatings used on medical equipment, implants, and devices to improve their operation, performance, and biocompatibility. These coatings have a number of functions, including lowering friction, promoting biocompatibility, offering antibacterial characteristics, enhancing lubricity, and avoiding corrosion. In order to enhance patient outcomes and guarantee the security and efficiency of medical equipment, they are essential in medical and healthcare environments. Medical coatings are essential for enhancing the performance, safety, and use of medical equipment and systems. To guarantee their efficiency, biocompatibility, and safety, they must go through thorough testing and adhere to regulatory criteria.
Impact of COVID-19 On Global Medical Coatings Market
The COVID-19 pandemic brought attention to the value of infection control in medical facilities. To lower the danger of microbial contamination and stop the spread of illnesses, there has been an increased focus on adding antimicrobial and anti-microbial coatings to medical devices. These coatings lessen the strain on healthcare systems by protecting patients and healthcare employees. The pandemic has prompted regulatory agencies all across the world to examine medical devices and coatings more closely. Rapid regulatory approvals with an emphasis on safety and efficacy were necessary for the rapid development and deployment of medical devices and coatings. For medical coatings used in COVID-19-related devices and equipment, regulatory bodies have specified rules and specifications. The manufacture of medical coatings was affected by disruptions in the supply chains for raw materials, chemicals, and components due to the global pandemic. Lockdowns, travel bans, and factory closures had an influence on the distribution of these materials, which had an impact on the production and supply of medical coatings.
Key Market Drivers
Population expansion, ageing populations, and improvements in healthcare technologies are some of the causes contributing to the ongoing increase in demand for medical devices and equipment worldwide. Medical coatings are in greater demand as a result of their critical role in enhancing the usability, effectiveness, and safety of these devices. Healthcare facilities are very concerned about infection management, and preventing healthcare-associated infections (HAIs) is becoming more and more important. Medical coatings, such as antimicrobial and anti-thrombogenic coatings, aid in the prevention of infection by lowering the danger of microbiological contamination and blood clot development. The medical coatings market is constantly developing new coatings with better qualities. The creation of coatings with improved biocompatibility, lubricity, robustness, drug delivery capabilities, and wear resistance is included in this. By providing better coating options for medical equipment, technological improvements stimulate market growth.
Key Market Challenges
Medical coating applications frequently call for specialised tools, procedures, and knowledge. Devices must have coatings applied consistently, and the coating procedure must be compatible with the other steps in the manufacturing process. It can be difficult to guarantee uniform coating quality, thickness, and coverage, especially for complex device geometries or small-scale production. The medical coatings industry is constantly changing as a result of new technological developments and material breakthroughs. For producers, keeping up with these developments and incorporating new technology into coatings can be difficult. It can be difficult to strike the ideal balance between innovation, legal compliance, and economic sustainability.
Hydrophilic Coatings segment is dominating the market with the largest market share
On the basis of type, the global medical coatings market is segmented into Hydrophilic Coatings, Antimicrobial Coatings, Drug-Eluting Coatings, Anti-Thrombogenic Coatings, Others. Among these, the hydrophilic coatings segment is dominating the market with the largest market share over the forecast period. Age-related illnesses and problems, like cardiovascular disorders and urine incontinence, are more common due to the ageing population around the world. Medical equipment with hydrophilic coatings that enhance patient outcomes and quality of life are now in greater demand as a result of this. Hydrophilic coatings are now used on more than just conventional medical devices. They are being utilised more frequently in a variety of medical applications, such as ophthalmic instruments, guidewires, cardiovascular devices, and urine catheters. The market growth of hydrophilic coatings in the medical coatings sector has been facilitated by its adaptability.
Polymers segment accounted the largest market share over the forecast period
Based on the material, the global medical coatings market is segmented into Metals, Ceramics and Polymers. Among these, polymers segment accounted the largest market share over the forecast period. Polymer coatings are excellent for a variety of medical applications since they have a wide range of characteristics and capabilities. Polymer coatings provide a great degree of adaptability, enabling customisation in accordance with unique device needs. They can be made to have lubricity, antibacterial qualities, drug release capabilities, and adhesion promotion, among other characteristics. Polymer coatings can be altered and customised, making them appropriate for a variety of medical purposes. The rise of the polymer segment in the medical coatings market is attributed to ongoing technical developments in polymer science and coating technologies. The performance, functionality, and functionality of polymer coatings are improved by improvements in polymer formulations, surface modification methods, and coating procedures. This broadens the uses of polymer coatings in the medical industry.
Medical devices dominates the market over the forecast period
On the basis of application, the global medical coatings market is segmented into Medical Devices and Medical Implants. Among these, medical devices dominates the market over the forecast period. In a growing number of medical devices across numerous specialisations, medical coatings are used. They are used on many different types of equipment, including as orthopaedic implants, cardiovascular stents, catheters, surgical tools, and ophthalmic equipment. The medical coatings market's medical devices segment is expanding due to the expanding application scope. The prevalence of age-related diseases and ailments has increased due to the ageing population worldwide. The demand for medical gadgets that enhance patient outcomes and quality of life has increased as a result. Medical coatings help these gadgets function and be safe, encouraging the expansion of the medical devices market.
North America accounted the largest market share over the forecast period
Among all other regions, North America accounted the largest market share over the forecast period. Hospitals, clinics, research facilities, and companies that produce medical devices are all part of North America's established and cutting-edge healthcare infrastructure. The area is leading the way in technical innovation and improvement in the healthcare sector. The need for medical coatings to improve the performance and safety of medical devices is driven by the availability of cutting-edge healthcare facilities.
Asia Pacific is witnessing the fastest market growth over the forecast period. The market for medical coatings is expanding as a result of rising healthcare costs in Asia Pacific nations. An ageing population, urbanisation, and rising disposable incomes all contribute to the rise in demand for high-tech medical services and equipment. Medical coatings are then more in demand to enhance device functionality and patient outcomes as a result of this.
Recent Market Developments
- In November 2022, GTCR has made a strategic investment in Biocoat Incorporated, a manufacturer of hydrophilic biomaterial coatings, solutions, and dip-coating instruments for medical devices.
- In April 2022, TridAnt is a ground-breaking coating technology for medical devices that delivers a fundamental advance in infection prevention and pathogen protection, according to BioInteractions, a biomaterials technology company based in the UK.
List of Key Companies
- AST Products, Inc.
- Precision Coating Company, Inc.
- Biocoat Incorporated
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global Medical Coatings Market based on the below-mentioned segments:
Medical Coatings Market, Coating Type Analysis
- Hydrophilic Coatings
- Antimicrobial Coatings
- Drug-Eluting Coatings
- Anti-Thrombogenic Coatings
Medical Coatings Market, Material Analysis
Medical Coatings Market, Application Analysis
- Medical Devices
- Medical Implants
Medical Coatings Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
1. What is the market size of Medical Coatings Market?
The global Medical Coatings Market is expected to grow from USD 5.18 Billion in 2022 to USD 9.24 Billion by 2032, at a CAGR of 10.6% during the forecast period 2022-2032.
2. Who are the key market players of Medical Coatings Market?
Some of the key market players of DSM, AST Products, Inc., Hydromer, Precision Coating Company, Inc., and Biocoat Incorporated.
3. Which segment hold the largest market share?
Polymers segment holds the largest market share is going to continue its dominance.
4. Which region is dominating the Medical Coatings Market?
North America is dominating the Medical Coatings Market with the highest market share.