The global Medical Device Coating Market size is projected to reach a CAGR of 19.4% from 2023-2030.
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, 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 kinds of medical devices such as general surgery devices, cardiovascular devices, orthopaedic devices, dental implants, neurology devices, gynaecology devices and others.
The medical device coating market growth is driven by a rise in the prevalence of hospital-acquired infections (HAI). Furthermore, factors such as a rise in the prevalence of diseases such as cardiovascular diseases, and orthopaedic diseases, require the use of medical coating devices and thus, drive the growth of the market. In addition, other factors such as the advancement & emergence of novel medical devices, stringent regulatory policies concerning MDC, increase in demand for implantable devices, and surge in disposable income of the global population also drive the growth of the market.
On the other hand, strict government implications in this field are a restraint that might limit the expansion of the MDCs market. Furthermore, frequent changes in raw material prices and time-consuming regulatory approvals are expected to restrain market growth.
Amidst COVID-19, coatings and other manufacturing sectors had some scope for assurance about approaching economic trends. Besides, the COVID-19 pandemic highlighted the necessity to curb microbial contamination of various types of surfaces at multiple levels. Massively augmented demand for vital appliances, including Personal Protective Equipment (PPE), ventilators, and diagnostic kits along with subsequent shortage of such devices led companies to do whatever they can to keep up the pace and meet the demand. The spread of COVID-19 had impacted medical equipment manufacturers. Additionally, the industry faced strong supply chain disruptions as well as quite a few potential concerns, which included financial restraints and predicaments. However, throughout the COVID-19 public health emergency, the FDA has taken many actions to help guarantee that patients and healthcare providers have well-timed and continuous access to premium quality medical devices to respond efficiently.
The medical device coating market is witnessing significant growth and is expected to continue its upward trajectory in the coming years. The increasing demand for medical devices with advanced functionalities, coupled with the rising prevalence of chronic diseases and the growing geriatric population, is driving the demand for innovative and reliable medical device coatings. Additionally, technological advancements in coating materials and manufacturing processes are enabling the development of advanced coatings with enhanced properties such as biocompatibility, anti-microbial properties, and improved durability.
Furthermore, stringent regulations and guidelines governing medical devices, along with increasing awareness about infection control and patient safety, are also propelling the adoption of medical device coatings. These coatings help in reducing the risk of infections, improve device performance, and extend the lifespan of medical devices. Moreover, the rising trend of minimally invasive procedures and the growing adoption of implantable devices are further fueling the demand for specialized coatings that can offer improved biocompatibility and reduced complications.
North America to Dominate the Market
