Medical Device Coatings Market Overview 2030:
The global medical device coating market was valued at $7,280 million in 2020 and is projected to reach $12,705 million by 2030 registering a CAGR of 6.8% from 2021 to 2030. Medical device coatings (MDCs) are substances that enhance the mobility and performance of a medical device. MDCs are utilized to prevent surfaces of several medical devices, such as, dentistry, neurology and others. Their use results in proper sanitation, corrosion resistance and biocompatibility. Their use reduces thrombogenicity, allergic reactions and trauma to blood vessels. In addition, the medical device coatings exhibit different types of properties such as these coatings can be hydrophilic or hydrophobic in nature. Furthermore, these coatings are used for various kind of medical devices such as in general surgery devices, cardiovascular devices, orthopedic devices, dentistry implants, neurology devices, gynecology devices and others.
The medical device coating market growth is driven by a rise in prevalence of hospital acquired infections (HAI). For instance, hospital acquired infections can spread through the use of devices that are contaminated and hence, require medical device coating, which can prevent HAIs. Thus, antimicrobial properties of medical device coatings can help prevent the spread of HAIs, thereby driving their demand, which in turn fuels the growth of the market. Furthermore, factors such as, rise in prevalence of diseases such as cardiovascular diseases, orthopedic diseases , which require the use of medical coating devices and thus, drive the growth of the market. Furthermore, surge in awareness toward minimally invasive medical devices has fueled their interventions in several distinct fields of surgeries. These devices are designed to cause minimal harm to the patients and have appropriate coatings to protect the patients from thrombogenicity, blood vessel damage, and other internal injuries.
In addition, other factors such as advancement & emergence of novel medical devices, stringent regulatory policies with respect to MDC, increase in demand for implantable devices, surge in disposable income of the global population also drive the growth of the market. However, strict government implications in this field is a restraint that might limit the expansion of MDCs market. Furthermore, frequent change in raw material prices and time-consuming regulatory approvals are expected to restrain the market growth. Conversely, untapped potential of emerging markets, such as China and India, and development of multifunctional coatings are expected to provide lucrative opportunities to the market players. Furthermore, an emerging demand of nanocoating is also expected to give rise to lucrative opportunities in the medical device coating market in near future.
The World Health Organization (WHO) on January 30, 2020 declared COVID-19 outbreak a public health emergency of international concern. COVID-19 has affected around 210 countries across the globe. Due to the COVID-19 pandemic, governments across the globe announced country-wide lockdowns as well as social distancing measures to prevent collapse of the healthcare system. Similarly, medical device coatings industry was impacted due to the COVID-19 pandemic. The medical device manufacturing was impacted which in turn lead to impact on the coating business. Furthermore, the disruptions in supply chains of medical devices, raw materials for coating manufacturing also left a grave impact on the market.
The overall impact of COVID-19 remained negative for medical device coating market. As the COVID-19 phase has witnessed a significant downfall in the initial phase of 2020 in medical device manufacturing. Furthermore, supply chains were also hit in a negative manner leading to a negative impact. In addition, the elective surgical procedures were postponed or cancelled, which lead to lower demand for devices such as implants and other medical device. Thus, this lead to a drop in demand for medical devices, which in turn lead to lower demand for medical device coatings. Hence, factors aforementioned contributed to negative impact of the medical device coating market.
Medical Device Coating Market Segmentation
The medical device coating market is segmented on the basis of coating, material, device type, and region to provide a detailed assessment of the market. By coating, it is divided into hydrophilic and hydrophobic. By material, it is classified into metals, ceramics, and polymers. Furthermore, metals is further classified into silver, titanium and other. Similarly, polymer is further divided into silicones, parylene, and fluoropolymers. In addition, fluoropolymers is classified into polytetrafluroethylene (PTFE), polyvinylidene difluoride (PVDF), and others. On the basis of application, the market is divided into medical device and medical implants. By device type, it is classified into general surgery, cardiovascular, orthopedics, dentistry, neurology, gynecology, and others.
By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, Taiwan, and rest of Asia-Pacific) and LAMEA (Brazil, Turkey, Saudi Arabia, South Africa, and rest of LAMEA).
Coating segment review
By coating, the hydrophilic was the major revenue contributor in 2020, and is projected to grow significantly during the forecast period. The factors that drive the growth of the medical device coatings market include the benefits these coatings provide over other counterparts. For instance, hydrophilic coatings are abrasion resistant, lubricious, biocompatible, and non-thrombogenic in nature. Thus, these properties make these coatings suitable for coating guide wires, vascular catheters, and other medical devices, which are used in some f highly prevalent diseases such as orthopedics diseases, cardiovascular diseases and others.
By Coatings
Hydrophillic segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Device type segment review
By device type, the general surgery devices segment was the major revenue contributor in 2020. Surge in number of general surgery procedures drives the demand for medical devices used in these surgeries, which in turn drives the demand for medical device coatings used on these devices. Furthermore, stringent regulations against hospital acquired infections that can spread through medical devices is also a major factor for growth as medical device coatings help curb these infections. Furthermore, the orthopedics segment is expected to exhibit the fastest growth rate during the forecast period owing to surge in prevalence of orthopedic diseases, which require a prominent use of implants and other such devices that require medical device coatings.
By Material Type
Metals segement holds a dominant position in 2020 and continue to maintain lead in the forecast year
Application segment review
By application, the medical devices segment was the major revenue contributor, and is projected to grow significantly during the forecast period, owing to a rise in number of general surgeries that involve the use of such devices. Furthermore, the implants segment is expected to exhibit the fastest growth rate during the forecast period owing to surge in incidence of diseases that required the use of implants.
By Application Type
Medical Devices Segment hold the dominant position over the forecast period.
Major key players operating in the medical device coating market include AST Products, Inc., Bayer Ag, Biocoat Incorporated, Covalon Technologies Ltd., Harland Medical Services, Hydromer Inc, Kisco Ltd., Precision Coating, Surmodics Inc., and Royal DSM.
By Region
North America region holds the dominant position in 2020 and would exhibit the highest CAGR of 6.2% during 2021-2030
Key benefits for stakeholders
- The study provides an in-depth analysis of the medical device coating market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers medical device coating market analysis from 2020 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and global medical device coating market growth.
Medical Device Coating Market Report Highlights
| Aspects | Details |
 By MATERIAL |
|
 By COATING |
|
 By DEVICE TYPE |
|
 By Region |
|
 Key Market Players | Harland Medical Systems, Inc., AST Products, Inc, Surmodics, Inc., Bayer AG, Covalon Technologies Ltd., Hydromer, Inc., Precision Coating Co., Inc., Royal DSM (DSM), .KISCO Ltd, Biocoat Incorporated |
Analyst Review
Medical device coatings are products that enhance mobility and performance of a medical device. For instance, antimicrobial coating prevents allergens, super hydrophilic coatings have properties like optical clearness. Therefore, Medical Device Coatings (MDCs) secure devices that are utilized within the healthcare sector. Similarly, they help in enhancing sanitation, less allergic dispersion, preventing thrombogenicity during medical procedure. Moreover, they are crucial as they prevent healthcare devices from susceptible microbes and pathogens.
Factor such as rise in prevalence of hospital acquired infections (HAI), rise in prevalence of diseases such as cardiovascular diseases, orthopedic diseases and others where medical devices are required for optimal procedure or advanced surgeries leads to an increase in HAI which eventually paves the way for surge in MDCs market. However, strict government implications in this field is a restraint that might limit the expansion of MDCs market. However, an emerging demand for nanocoating is expected to give rise to lucrative opportunities in the medical device coating market in near future.
In addition, North America is expected to offer remunerative growth opportunities to key players operating in the industry. This is majorly attributed to factors such as high prevalence of cardiovascular and orthopedic disorders which leads to surge in demand for coated medical devices. In addition, presence of key players in the region that operate in medical device coatings market is another factor that drives the growth of the market. Asia-Pacific is expected to exhibit fastest growth rate due to surge in demand for coated medical devices, which is fueled by rise in awareness related to prevention of hospital acquired infection and use of minimally invasive devices.
The total market value of medical device coating market is $7,280 million in 2020.
The forecast period for medical device coatings market is 2021 to 2027
The market value of medical device coatings market in 2030 is $12,706 million.
The base year is 2020 in medical device coating market
Top companies such as, AST Products, Inc., Bayer AG, Covalon Technologies Ltd., Hydromer Inc., Kisco Ltd., and Surmodics Inc. held a high market position in 2020. These key players held a high market postion owing to the strong geographical foothold in different regions.
General Surgery is the most influencing segment growing in the medical device coatings market as with a rise in minimally invasive general surgeric procedures along with a precautionary measure on hospital acquired infections create a surge in demand of medical device coatings.
The major factor that fuels the growth of the medical device coating market includes increase in awareness of Hospital Acquired Infections (HAI) during minimal surgical operations.
Asia-Pacific has the highest growth rate in the market which is growing due to the contribution of the following emerging countries such as China with a CAGR of 9.3%. This is due to rise in minimal surgical procedures and surge in awareness of Hospital Acquired Infections (HAI).
Medical device coatings are substances that are applied on medical devices such as in dentistry, neurology and others. They tend to protect and lubricate the medical devices that are used in pharmaceutical and medical institutions.In addition, medical device coatings also tend to reduce risks of thrombogeneity and allergic reactions in pateints
Medical device coatings are used as a protective coating on medical devices in fields of dentistry, neurology, general surgery to reduce thrombogeneity and allergic reactions in pateints and thereby enhancing mobility and ensuring protetctive surface of the device.
Loading Table Of Content...
