Medical Device Coatings Market Size by Product (Hydrophilic Coatings, Antimicrobial Coatings, Drug Eluting Coatings, Antithrombotic Coatings, etc.), By Application (Neurologic, Orthopedic, General Surgery, Cardiovascular, Dental, Gynecological, etc.), Regions, Segmentation, and projections to 2029.
PUNE INDIA, Dec. 29, 2022 (GLOBE NEWSWIRE) — The market has been studied for North America, Europe, Asia, South America, Middle East and Africa for the segmentation and regional analysis described below. these are, Medical device coating market is currently in operation and is expected to expand in the near future.Manufacturers and suppliers involved in Medical device coating market It exists in various countries in the above regions.
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This report provides an in-depth understanding of the market segments formed by combining various prospects such as products, applications and regions. Apart from this, key drivers, restraints, potential growth opportunities, and market challenges are also discussed in the following paragraphs.
important players in the world Medical device coating market Royal DSM, Surmodics, Inc., PPG Industries, Inc., Sono-Tek Corporation, Materion Corporation, Hydromer Inc., Precision Coating Company, Inc., Freudenberg Medical, AST Products, Inc., Biocoat Incorporated, Covalon Technologies Ltd., Harland Medical Systems, Specialty Coating Systems Inc., Medical Surface Inc., Merit Medical Systems, Inc., Medicoat, Allvivo Vascular, Inc., etc. To capture significant market share and consolidate its position in the global medical device coatings market, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, partnerships, and joint ventures. .
Since the beginning of the coronavirus pandemic, antimicrobial coatings have become more important in preventing the spread of potential illness. used in equipment. Polymer-based medical coatings are used on medical implants, safety devices, and tools and equipment in the medical sector. The increase in ischemic heart disease and chronic obstructive pulmonary disease has increased the demand for medical device coatings. In European countries, manufacturers are subject to strict regulations. Therefore, producers need to increase their research and development to keep up with changes in government regulations in order to increase their reliability. Demand for ventilators, cardiovascular equipment, catheters, sutures, guidewires, stents, syringes, mandrels, and other protective equipment used in the medical sector is fueled by increased government investment and his COVID-19 worldwide. Facilitated by an increase in -19 cases. Medical device coatings are important to protect various types of medical devices. Thanks to these coatings, medical devices are protected from viral and microbial attack while improving functionality and agility. In addition, it possesses excellent dielectric properties, dry film lubricity, and thermal stability, all of which are projected to drive the market significantly over the forecast period.
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Scope of the Medical Device Coatings Market Report
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Reporting metrics |
information |
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study period |
2021-2029 |
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base year |
2021 |
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Forecast period |
2022-2029 |
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Market share unit |
US$1 billion |
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Target segment |
Products, Applications and Regions |
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Target area |
North America, Europe, Asia Pacific, South America, Middle East, Africa |
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main player |
Royal DSM, Surmodics, Inc., PPG Industries, Inc., Sono-Tek Corporation, Materion Corporation, Hydromer Inc., Precision Coating Company, Inc., Freudenberg Medical, AST Products, Inc., Biocoat Incorporated, Covalon Technologies Ltd., Harland Medical Systems, Specialty Coating Systems Inc., Medical Surface Inc., Merit Medical Systems, Inc., Medicoat, Allvivo Vascular, Inc., etc. |
Segmentation analysis
Antimicrobial coatings segment is expected to be the fastest growing segment in 2021.
Product segments include hydrophilic coatings, antimicrobial coatings, drug eluting coatings, antithrombotic coatings, and others. The antimicrobial coating segment is expected to witness the highest growth rate during the forecast period. This is explained by its low cost and excellent compatibility with various device materials such as metals, plastics, carbon fiber, composites and stainless steel. This segment expands as a result of increasing use of implantable devices and increasing research and development initiatives.
The cardiovascular segment is expected to be the fastest growing segment in 2021.
Application segments include neurology, orthopedics, general surgery, cardiovascular, dentistry, gynecology, and others. The cardiovascular segment is expected to witness the highest growth rate during the forecast period. More and more people are getting implants and heart pacemakers. The market will expand due to increasing demand for coronary stents with drug eluting coatings. The increased incidence of cardiovascular disease is driven by increased use of these devices, an aging population, poor dietary habits, and a sedentary lifestyle. Moreover, during the forecast period, favorable government policies such as increasing reimbursement coverage and medical expenses will boost the expansion of the cardiovascular segment.
Regional analysis
Regional analysis provides an in-depth perception of major regions and countries. Major countries analyzed for medical device coatings include the United States, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia. .
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North America accounts for a large share. This is due both to the availability of better medical services and the increase in cardiometabolic diseases such as pulmonary embolism (PE) and deep vein thrombosis. Moreover, the rapid increase in COVID-19 positive cases, prevalence of cutting-edge surgical techniques, and expanding medical infrastructure in the United States are projected to increase the need for medical device coatings in the coming years. .
country analysis
The German medical device coatings market size is valued at USD 150 million in 2021 and is expected to reach USD 230 million by 2029, at a CAGR of 5.8% from 2022 to 2029. Growing need for these materials in cardiology, general surgery, and neurology devices is driving the market for medical device coatings.
China’s medical device coating market size is valued at USD 240 million in 2021 and is expected to reach USD 440 million by 2029, at a CAGR of 8% from 2022 to 2029 . A potential barrier to market growth might be the negative impact of antimicrobial coatings on human health, but significant technological developments in antimicrobial coatings are opening up opportunities for the regional market for medical coatings.
The Indian medical device coatings market size is valued at USD 200 million in 2021 and is expected to reach USD 360 million by 2029, at a CAGR of 6.5% from 2022 to 2029. The surge in nosocomial infections is putting additional pressure on the healthcare system and a cause for concern for the industry. The surge in hospital-acquired illnesses is putting slightly more pressure on the medical sector. Antimicrobial coatings can help reduce nosocomial infections thanks to a variety of attributes, including biocompatibility.
Impact of Covid-19
Covid-19 has had a major impact on almost every industry, including electronics, semiconductors, manufacturing, and automotive. However, several companies operating in the technology sector saw significant changes in consumer preferences for technology services, resulting in increased revenues. Additionally, the pandemic has resulted in significant growth in technology across developing and developed countries.
Moreover, this market growth is mainly due to growing awareness about medical advancements which is likely to boost the demand for medical coatings.
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