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Chemical & Material Icon

Medical Device Coating Market – Trends Forecast Till 2030

Medical Device Coating Market, By Product (Hydrophilic, Antimicrobial), By Application (General Surgery, Cardiovascular) and Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).

  • Published Date : June 2023
  • Base Year Estimate : 2023
  • Report ID : D-CM-MDCM-1378
  • Format :
  • Number of Pages : 398
  • Domain : Chemicals & Materials
  1. Chemicals & Materials
  2. Medical Device Coating Market – Trends Forecast Till 2030
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REPORT SYNOPSIS
Market Snapshot Market Overview Delvens Industry Expert's Standpoint Market Portfolio Key Findings Regional Analysis Competitive Landscape Recent Developments Reasons to Acquire Report Scope
Table Of Content Frequently Asked Questions

Market Snapshot

Market Overview

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.

Delvens Industry Expert's Standpoint

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.

Market Portfolio

Key Findings

  • The product segment is further fragmented into Hydrophilic Coatings, Antimicrobial Coatings, Drug-eluting Coatings, Anti-thrombogenic Coatings and Others. In terms of revenue, antimicrobial coatings dominated the market and are anticipated to dominate the market during the forecast period. This is attributed to their low cost and high compatibility with various device materials, including metal, plastic, carbon fibre, composite materials, and stainless steel. Furthermore, increasing R&D activities, along with the growing usage of implantable devices, will propel the segment’s growth.
     
  • The application segment is further segmented into Neurology, Orthopaedics, General Surgery, Cardiovascular, Dentistry, Gynaecology and Others. The cardiovascular application segment held the largest revenue share and is expected to maintain its dominance during the forecast period. The growth is majorly due to the rising preference for implants and cardiac pacemakers. Furthermore, increasing demand for drug-eluting coatings for coronary stents will fuel segment growth.
     
  • The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America dominated the market for medical device coating with the largest revenue share. This is attributed to favourable healthcare resources, along with the rising frequency of cardiometabolic disorders, such as Pulmonary Embolism (PE) and Deep Vein Thrombosis (DVT). Moreover, the high adoption of advanced surgical treatments, and rising healthcare infrastructure in the U.S. are expected to boost the demand for medical device coating in the coming years.

Regional Analysis

North America to Dominate the Market

  • North America dominated the market for medical device coating with the largest revenue share.
     
  • This is attributed to favourable healthcare resources, along with the rising frequency of cardiometabolic disorders, such as Pulmonary Embolism (PE) and Deep Vein Thrombosis (DVT). Moreover, the high adoption of advanced surgical treatments, and rising healthcare infrastructure in the U.S. are expected to boost the demand for medical device coating in the coming years.

 

Competitive Landscape

  • AST Products, Inc.
  • Bayer Ag
  • Biocoat Incorporated
  • Covalon Technologies Ltd.
  • Harland Medical Services
  • Hydromer Inc
  • Kisco Ltd.
  • Precision Coating
  • Surmodics Inc.
  • Royal DSM