Medical Coatings Global Market Report 2024

Medical coatings refer to coatings applied to medical and surgical instruments to mitigate adverse side effects such as bacterial infection, blood clotting, and tissue trauma. Coating technology involves the use of dry or water-based formulations, enabling processing without the use of solvents. The medical coatings market encompasses the sales of coatings used for the cleanliness and sterilization process of medical and surgical instruments.

The main types of medical coatings include anti-microbial coatings, hydrophilic coatings, anti-thrombogenic coatings, and other variations. Hydrophilic coatings have an affinity for water. Medical coatings can be made from various materials, including polymers, metals, and other material types. These coatings find applications in medical devices, medical implants, medical equipment and tools, protective clothing, and other contexts.

The medical coatings market research report is one of a series of new reports that provides medical coatings market statistics, including medical coatings industry global market size, regional shares, competitors with a medical coatings market share, detailed medical coatings market segments, market trends and opportunities, and any further data you may need to thrive in the medical coatings industry. This medical coatings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The medical coatings market size has grown exponentially in recent years. It will grow from $8.65 billion in 2023 to $10.5 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The expansion observed in the historical period can be attributed to several factors, including the emphasis on infection prevention, the need for biocompatibility in medical devices, advancements in drug delivery technologies, the pursuit of performance enhancement in medical coatings, and adherence to regulatory compliance in the healthcare sector.

The medical coatings market size is expected to see exponential growth in the next few years. It will grow to $23.01 billion in 2028 at a compound annual growth rate (CAGR) of 21.7%. The projected growth in the forecast period can be attributed to advancements in nanotechnology, the increasing prevalence of minimally invasive surgery, the adoption of remote monitoring solutions, the trend towards personalized medicine, and the development of biodegradable solutions in the medical coatings market. Key trends expected in this period include the application of antimicrobial coatings, the use of drug-eluting coatings, the demand for biocompatible coatings, the integration of hydrophilic coatings, and the implementation of anti-adhesion coatings.

The anticipated rise in the prevalence of ischemic heart disease and chronic obstructive pulmonary disease is poised to drive the growth of the medical coatings market. Ischemic heart disease involves heart issues resulting from narrowed heart arteries, limiting the supply of blood and oxygen to the heart muscle. Medical coatings play a crucial role in enhancing the durability of various medical devices, including general surgery and cardiovascular devices, preventing corrosion. For example, stroke deaths increased from 38.8 per 100,000 people in 2020 to 41.1 per 100,000 people in 2021, according to the Centers for Disease Control and Prevention (CDC). With more than 795,000 strokes occurring annually in the United States, where 610,000 are first-time strokes, and ischemic strokes account for approximately 87% of all strokes, the rising occurrences of ischemic heart disease and chronic obstructive pulmonary disease are significant drivers of the medical coatings market.

The increasing incidence of obesity is expected to further propel the growth of the medical coatings market. Obesity, defined by a body mass index of 30 or more, poses challenges that medical coatings address by preventing corrosion and enhancing the durability of medical devices used in related surgeries. As reported by the World Health Organization (WHO), an estimated 650 million adults, 340 million teenagers, and 39 million children will be obese, with this number expected to rise. By 2025, the WHO predicts that 167 million adults and children will become overweight or obese. Consequently, the growing incidences of obesity are significant contributors to the expansion of the medical coatings market.

A notable trend in the medical coatings market is the emphasis on product innovations. Major companies operating in this market are actively developing new product innovations to fortify their market positions. For instance, in April 2022, Harland Medical Systems, Inc., a U.S.-based provider of medical device coatings and equipment services, introduced the CTS1100 Coating Thickness Testing System. This system allows medical device manufacturers to accurately measure coating thickness, conduct automated dry-out tests, and simplify laborious testing. The CTS1100 features a real-time precision micrometer for continuous diameter measurement and dry-out time calculation.

Major players in the medical coatings market are intensifying their focus on introducing advanced medical coating solutions, such as Diofan Ultra736, to gain a competitive edge. Diofan Ultra736, a new polyvinylidene chloride (PVDC) coating solution, is designed for more sustainable pharmaceutical blister films. For example, Solvay, a Belgium-based chemical company, launched Diofan Ultra736 in October 2023, offering an ultra-high-barrier PVDC coating for exceptional water vapor resistance. This coating enables the use of thinner thermoforming films without compromising product integrity, contributing to the overall sustainability of pharmaceutical packaging.

In July 2023, Biocoat Inc., a U.S.-based hydrophilic biomaterial coating company, acquired Chempilots, a Denmark-based manufacturer of medical coatings, for an undisclosed amount. This strategic acquisition aligns with Biocoat's mission to enable medical innovation by expanding its biomaterial platform and providing a comprehensive portfolio of customized biomaterial solutions.

Major companies operating in the medical coatings market include Allvivo Vascular Inc., AST Products Inc., Biocoat Incorporated, Coatings2Go LLC, Covalon Technologies Ltd., Harland Medical Systems Inc., Hemoteq AG, Medicoat AG, Merit Medical Systems Inc., AeonClad Coatings LLC, Applied Medical Coatings LLC, Applied Membrane Technology Inc., Calico Coatings, Carmeda AB, Freudenberg Medical LLC, Hydromer Inc., Kisco Ltd., Materion Corp., DSM Biomedical B.V., Surmodics Medical Ltd., Precision Coating Company, BioInteractions Ltd., Sono-Tek Corporation, Specialty Coating Systems Inc., Biomerics LLC, EuroMed Inc., Innovative Surface Technologies, N2 Biomedical, Orchid Orthopedic Solutions, Plasma Coatings

North America was the largest region in the medical coatings market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in this medical coatings market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the medical coatings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The medical coatings market consists of sales of fluoropolymers, parylene and silicone. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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