Global Medical Coating Market Insights Forecasts to 2030
- The Global Medical Coating Market Size was valued at USD 5.8 Billion in 2021
- The Market is Growing at a CAGR of 12.0% from 2022 to 2030
- The Worldwide Medical Coating Market Size is expected to reach USD 12.3 Billion by 2030
- Europe is expected to grow the fastest during the forecast period
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The Global Medical Coating Market Size is expected to reach USD 12.3 Billion by 2030, at a CAGR of 12.0% during the forecast period 2022 to 2030. Rising demand for ventilators, cardiovascular devices, catheters, sutures, guide wires, stents, syringes, mandrels, and other protecting devices used in the medical sectors owing to increasing government expenditures and rising number of COVID-19 cases across the globe will fuel the market growth. The growing preference for antimicrobial coatings over disinfecting agents and other cleaning chemicals coupled with the ever-growing demand for minimally invasive surgical procedures is anticipated to fuel the market growth.
Implementing a medical coating improves the accessibility and performance of medical devices and implants. Medical coatings are used to prevent bacteria and microbes from spreading or contaminating medical devices such as dentistry, neurology, and others, as well as medical implants such as artificial joints, cardiac pacemakers, dental implants, ventricular shunts, and others. With excellent hygiene, oxidation resistance, and biocompatibility, the medical coating reduces blood vessel laceration, hypersensitivity, and thrombogenicity. Furthermore, medical coatings have a variety of qualities, such as being hydrophobic or hydrophilic in nature. These coatings are also employed in a variety of medical devices, including general surgery devices, cardiology devices, orthopedic devices, dental implants, neurology devices, gynecology devices, and others.
This research report categorizes the market for Global Medical Coating Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Global Medical Coating Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Global Medical Coating Market.
Global Medical Coating Market Report Coverage
|Market Size in 2021:||USD 5.8 Billion|
|Forecast Period 2021-2030 CAGR:||12.0%|
|2030 Value Projection:||USD 12.3 Billion|
|Historical Data for:||2017-2020|
|No. of Pages:||190|
|Tables, Charts & Figures:||125|
|Segments covered:||By Type, By Material, By Application, By Region,and COVID-19 Impact Analysis|
|Companies Covered:||Endura Coating Systems, AST Products, Inc., Biocoat Incorporated, Royal DSM, Tex-Tech, Merit Medical Systems, Inc., SurModics Inc., Precision Coating Company, Inc, Bayer Ag, Covalon Technologies Ltd., HydromerInc,, Kisco Ltd., Biocoat Incorporated, Sono-Tek Corp, Harland Medical Services, Medicoat AG, Speciality Coating Systems, Inc.|
|Growth Drivers:||The healthcare sector has increased the deployment of antimicrobial-protected tools in order to offer a safe environment for patients and personnel|
|Pitfalls & Challenges:||Due to the increasing number of COVID-19 cases|
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The healthcare sector has increased the deployment of antimicrobial-protected tools in order to offer a safe environment for patients and personnel. To meet the industry's stringent patient safety standards, the medical coating is an important operation in the manufacture of medical equipment. The medical coating maintains the equipment's antibacterial and inhibits liquid penetration.
The increasing use of minimally invasive surgical treatments is likely to produce profitable consequences for the medical coating market expansion. As the prevalence of cardiovascular illness, arthritis, and cancer rises, so does the demand for minimally invasive surgical treatments.
There has been a surge in the demand for medical devices that can traverse through intricate and sophisticated sections of the body, such as cameras, screening procedures, ventilation systems, surgical equipment, implants, and many others.Hydrophobic or hydrophilic coatings are used to make these devices easier to implant into convoluted and narrow capillaries and to reduce tissue injury.Medical-grade coatings are of vital importance in such medical treatments since they are cost-effective and need less time.
Raw material price volatility has a significant impact on the price of coating fabrication. The rising cost of raw materials like silicone rubber and PTFE is projected to restrict the product's availability.
In 2021, the antimicrobial coatings segment is witnessing significant CAGR growth over the forecast period
On the basis of Type, the Global Medical Coating Market is segmented into hydrophilic coatings, antimicrobial coatings, anti-thrombogenic coatings, hydrophobic coating, and others. Among these, the antimicrobial coatings segment is witnessing significant CAGR growth over the forecast. On a variety of medical items, medical equipment, and surfaces, the antimicrobial coating is used to prevent the growth of bacteria and germs and to stop the spread of infection. The EPA has also approved the use of the antimicrobial coating in HVAC systems as a safe and effective method of reducing odor-producing microorganisms in hospitals, medical equipment, and water filters. Thus, as the healthcare industry grows, so does the need for antimicrobial coatings to maintain a sterile, hygienic, and safe hospital environment.
- In 2021, the fluoropolymer segment is dominating the market over the forecast period
On the basis of material, the Global Medical Coating Market is segmented into metals, ceramics, polymers, fluoropolymer, silicone, parylene, and others. Among these, the fluoropolymer segment is dominating the market over the forecast period. Fluoropolymers are further classed as polytetrafluoroethylene (PTFE), polyvinylidene difluoride (PVDF), and others. Fluoropolymers are dry and inert, making it difficult for practically any chemical to adhere to and react with a coated surface. Fluoropolymers have a quasi, stable, and smooth surface, which makes them suitable for a variety of applications such as anesthesia delivery, agitation shafts, sterilization equipment, centrifuge components, saline packaging, implants, tubes, surgical tools, and others.
- In 2021, the medical devices segment is dominating the market with the largest market share of 58% over the forecast period
Based on the application, the Global Medical Coating Market is segmented intomedical devices, medical implants, medical equipment & tools, protective clothing, and others. The medical devices sector leads the market with a 58% market share throughout the projection period, owing to an increase in the number of general operations including the usage of such equipment.Modern developments and ongoing research have led to a vast variety of applications for numerous medical devices.The increased prevalence of ageing population around the world is one of the primary factors driving the need for medical equipment, which is projected to drive market growth.
Regional Segment Analysis of the Medical Coating Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America is dominating the market with the largest market share of 34%.
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With a 34% market share, North America is likely to emerge as the industry's leading region throughout the forecast period, owing to the expanding healthcare, construction, and building sectors, and other sectors. This is due to an improved healthcare system, as well as an increase in the prevalence of cardiometabolic illnesses such as pulmonary embolism and deep vein thrombosis. Furthermore, the United States is one of the key markets for medical devices, as well as a hub for medical development and research, which is boosting the regional market growth.
Given rising rates of obesity, increased heart disorders, and an aging population, Europe is predicted to have a large medical coatings market value throughout the forecast period. Germany has the largest medical device segment in Europe and the third largest globally.The Asia Pacific medical coatings market is expected to develop the fastest. The largest medical device producers in Asia Pacific are China and India.
The report offers the appropriate analysis of the key organizations/companies involved within the Global Medical Coating Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Market Players
- Endura Coating Systems
- AST Products, Inc.
- Biocoat Incorporated
- Royal DSM
- Merit Medical Systems, Inc.
- SurModics Inc.
- Precision Coating Company, Inc
- Bayer Ag
- Covalon Technologies Ltd.
- Kisco Ltd.
- Biocoat Incorporated
- Sono-Tek Corp
- Harland Medical Services
- Medicoat AG
- Speciality Coating Systems, Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
- In November 2022,GTCR has made a strategic investment in Biocoat Corporation, a specialty maker of hydrophilic biomaterial coatings, solutions, and dip-coating instruments for medical devices.
- In March 2022,DSM Biomedical and Svelte Medical Systems worked together to develop DISCREET Bioresorbable Coating Technology, which is employed with the SLENDER IDS and DIRECT RX Bioresorbable Coated Drug-Eluting Stent (DES) Systems.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Medical Coating Market based on the below-mentioned segments:
Global Medical Coating Market, By Type
- Hydrophilic Coatings
- Antimicrobial Coatings
- Antithrombogenic Coatings
- Hydrophobic Coating
Global Medical Coating Market, By Material
Global Medical Coating Market, By Application
- Medical Devices
- Medical Implants
- Medical Equipment & Tools
- Protective Clothing
Global Medical Coating 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 the Middle East & Africa
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