The global medical device coatings 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 are materials that provide enhanced flexibility or adjustability to physicians and reduce thrombogenicity in patients. These materials provide wetting, uniform adhesion, wear resistance, and coating homogeneity, thus enabling reduced injury to the blood vessels and help to lower the friction between medical devices and tissue. The global medical device coatings market is anticipated to witness growth during the forecast period, owing to rise in preference for implantable & non-implantable medical equipment, surge in number of private & public hospitals, and increase in demand for coatings due to their improved biocompatibility between live tissue and medical devices. Furthermore, medical device coatings have different properties such as hydrophilic or hydrophobic, which determine their use in various fields of surgical science. In addition, medical device coatings are used for various kind of medical devices that are employed in different surgical procedures such as general surgery devices, cardiovascular devices, orthopedic devices, dentistry implants, neurology devices, gynecology devices and others.
The factors that drive the growth of medical device coating market include rise in prevalence of diseases such as cardiovascular diseases, orthopedic diseases and others, which require the use of medical devices. 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 also drive the market growth. In addition, surge in prevalence of hospital acquired infections (HAI) drive the growth of the market. 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. 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, and 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 overall impact of COVID-19 was negative for medical device coatings market. This was due to a downfall in medical device manufacturing across the globe in the initial phase of 2020. This was in turn fueled due to medical device supply chains disruptions worldwide. 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 leads to a drop in demand for medical devices, which in turn lead to lower demand for medical device coatings. Hence, the factor aforementioned contributed to negative impact of medical device coatings market.
The medical device coatings 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 materials, 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).
Major key players operating in medical device coatings 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
Medical device coatings are materials that provide enhanced flexibility or adjustability to physicians and reduce thrombogenicity in patients. These materials provide wetting, uniform adhesion, wear resistance, and coating homogeneity, thus enabling reduced injury to the blood vessels and help to lower the friction between medical devices and tissue. The global medical device coatings market is anticipated to witness growth during the forecast period, owing to rise in preference for implantable & non-implantable medical equipment, surge in number of private & public hospitals, and increase in demand for coatings due to their improved biocompatibility between live tissue and medical devices. Furthermore, medical device coatings have different properties such as hydrophilic or hydrophobic, which determine their use in various fields of surgical science. In addition, medical device coatings are used for various kind of medical devices that are employed in different surgical procedures such as general surgery devices, cardiovascular devices, orthopedic devices, dentistry implants, neurology devices, gynecology devices and others.
The factors that drive the growth of medical device coating market include rise in prevalence of diseases such as cardiovascular diseases, orthopedic diseases and others, which require the use of medical devices. 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 also drive the market growth. In addition, surge in prevalence of hospital acquired infections (HAI) drive the growth of the market. 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. 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, and 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 overall impact of COVID-19 was negative for medical device coatings market. This was due to a downfall in medical device manufacturing across the globe in the initial phase of 2020. This was in turn fueled due to medical device supply chains disruptions worldwide. 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 leads to a drop in demand for medical devices, which in turn lead to lower demand for medical device coatings. Hence, the factor aforementioned contributed to negative impact of medical device coatings market.
The medical device coatings 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 materials, 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).
Major key players operating in medical device coatings 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
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the market along with the current trends and future estimations to elucidate the imminent investment pockets
- It offers a quantitative analysis from 2020 to 2030, which is expected to enable the stakeholders to capitalize on the prevailing market opportunities
- A comprehensive analysis of four regions is provided to determine the existing opportunities
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global market
KEY MARKET SEGMENTS
By Coating
- Hydrophilic
- Hydrophobic
By Material
- Metals
- Silver
- Titanium
- Others
- Ceramics
- Polymers
- Silicones
- Parylene
- Fluoropolymers
- Polytetrafluroethylene (PTFE)
- Polyvinylidene Difluoride (PVDF)
- Others
By Device Type
- General Surgery
- Cardiovascular
- Orthopedics
- Dentistry
- Neurology
- Gynecology
- Others
By Application
- Medical Implants
- Medical Devices
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Taiwan
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Turkey
- Saudi Arabia
- South Africa
- Rest of LAMEA
LIST OF OTHER PLAYERS IN THE VALUE CHAIN
- Merit Medical Systems, Inc
- PPG Industries, Inc
- Materion Corp
- Sono- Tek Corporation
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Table of Contents
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Landscape
Chapter 4: Medical Device Coating Market, by Material
Chapter 5: Medical Device Coating Market, by Coating
Chapter 6: Medical Device Coating Market, by Device Type
Chapter 7: Medical Device Coating Market, by Region
Chapter 8: Company Profiles
List of Tables
List of Figures
Executive Summary
According to a new report titled, “Medical Device Coating Market By Coating, Material, Application and Device Type: Global Opportunity Analysis And Industry Forecast, 2021–2030, global medical device coatings 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 materials that offer surgeons, physicians, and healthcare professionals improved maneuverability required during surgical intervention. In addition, they reduce the trauma subjected to blood vessels during surgery and decrease thrombogenicity in patients. Orthopedic implants coated with medical coating are an ideal surface structure for safe, rapid, and durable bone integration.
The major factors that drive the global medical device coating market are 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. In addition, rise in prevalence of hospital acquired infections (HAI) drive the growth of the market. For instance, hospital acquired infections can spread through the use of devices which 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. Other factors such as surge in prevalence of diseases such as cardiovascular diseases, orthopedic diseases and others where medical devices are required for optimal procedure or advanced surgeries lead to an increase in HAI, which eventually paves the way for surge in medical device coatings market.
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.
However, strict government implications in this field is a restraint that might limit the expansion of MDCs market. In contrast, an emerging demand for nanocoating is 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 overall impact of COVID-19 remained negative for medical device coating market owing to a significant downfall in the initial phase of the 2020 in medical device manufacturing across the globe. The supply chains were also hit in a negative manner. The downfall was further worsened by the postponed/rescheduling or cancellations of elective surgical procedures, which in turn lowered the demand for devices such as coated implants and other coated medical device.
The medical device coating market is segmented on the basis of coating, materials, 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 categorized 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 medical device coatings 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).
Under the segment of coating, the hydrophilic segment recorded the highest revenue in 2020, and is projected to grow significantly during the forecast period. The benefits of these coatings over other counterparts is the major growth factor for the medical device coatings market. For instance, hydrophilic coatings are abrasion resistant, lubricious, biocompatible, and non-thrombogenic in nature. Thus, for coating guide wires, vascular catheters, and other medical devices, which are used in some of highly prevalent diseases such as orthopedics diseases, cardiovascular diseases and others.
Key Findings Of The Study
- By coatings, the hydrophobic coatings segment accounted for one-sixth share of the medical device coating market in 2020
- Region wise, Asia-Pacific is anticipated to grow at the highest CAGR of 90% throughout the forecast period
- In Europe, Germany accounted for less than one-third share of the medical device coating market, in 2020
- By material, the metals segment accounted for three-fourths share of the global medical device coating market in 2020
- In addition, North America is expected to offer remunerative growth opportunities to key players operating in the industry. An increasing rate of cardiovascular and orthopedic disorders lead to surge in demand for medical devices and the awareness of HAI leads to rise in demand for medical device coatings. The presence of key players of medical device coatings market in the region is another factor that drives the growth of the market As per awareness about HAI and enhanced use of minimally invasive devices, Asia-Pacific is expected to exhibit fastest growth rate in the medical device coating market
Companies Mentioned
- AST Products, Inc.
- Bayer Ag
- Biocoat Incorporated
- Covalon Technologies Ltd.
- Harland Medical Services
- Hydromer Inc
- Kisco Ltd.
- Precision Coating
- Surmodics Inc.
- Royal DSM.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 290 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 6580.55 million |
| Forecasted Market Value ( USD | $ 12705 million |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
