• Blog
  • Medical Device Coating Market Analysis | 2022-2028

    Medical Device Coating Market Analysis | 2022-2028

    Medical Device Coating Market Analysis | 2022-2028
    Report code - SR2176 Delivery - 2 Weeks
    Medical Device Coating Market Size, Share, Trend, Forecast, Competitive Analysis, and Grow See more...

    Market Insights

    The Medical Device Coating Market was estimated at US$ 7.31 billion in 2021 and is expected to grow at a CAGR of 6.35% during 2022-2028 to reach US$ ~12.56 billion in 2028.

    Wish to get a free sample? Register Here

    What are Medical Device Coatings?

    Medical device coatings (MDCs) are materials that improve a medical gadget's function and mobility. MDCs are used to protect the surfaces of many medical equipment, including those used in dentistry, neurology, and other fields. By using them, one can achieve optimal hygienic conditions, corrosion resistance, and biocompatibility. Their use lessens blood vessel injuries, allergic responses, and thrombogenicity. Additionally, the coatings on medical devices have a variety of various characteristics, such as the ability to be either hydrophilic or hydrophobic. Additionally, these coatings are employed on a wide range of medical devices, including those used in gynaecological, cardiothoracic, orthopaedic, and dental implants, as well as general surgery.

    Market Dynamics

    An increase in the frequency of hospital-acquired infections is what is fueling the growth of the medical device coating industry (HAI). For instance, the usage of contaminated devices might spread hospital-acquired infections, necessitating medical device coating to stop HAIs. As a result, the antimicrobial qualities of medical device coatings can aid in the prevention of HAIs, increasing demand for them and, in turn, the market's expansion. Additionally, factors including the increase in disorders like orthopaedic and cardiovascular diseases, which call for the use of medical coating devices, are fueling the market's expansion. The care of heart failure using medical device coatings (VADs) as DT and bridges. Furthermore, a rise in interest in minimally invasive medical technologies has spurred their use in a variety of surgical specialties.       

    Medical Device Coating Market Report Overview

    Market Size in 2028

    US$ ~12.56 billion

    Market Size in 2021

    US$ 7.31 billion

    Market Growth (2022-2028)

    6.35% CAGR

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

     

    Other factors that contribute to the market's expansion include the development and introduction of novel medical devices, strict regulatory guidelines regarding MDC, rising implanted device demand, and an increase in the world's population's disposable income. The market expansion of MDCs could be constrained by the severe government constraints in this area. Additionally, it is anticipated that the market expansion will be constrained by the frequent changes in raw material prices and the lengthy regulatory approval processes.

    On the other hand, untapped potential in developing nations like China and India as well as the advancement of multifunctional coatings are predicted to offer market participants profitable prospects. Additionally, the market for medical device coating is anticipated to see lucrative chances soon due to increasing demand for nanocoating.

    Segments Analysis

    By Material Type

    The market is further segmented into metals, ceramics, and polymers. The metals segment is further segmented into silver, titanium, and others, whereas the polymers segment is divided into silicone, perylene, fluoropolymers, PTFE, PVDF, and others.

    By Coating Type

    The market is bifurcated into hydrophilic, and hydrophobic. Abrasion resistance, lubricity, biocompatibility, and non-thrombogenic are all characteristics of hydrophilic coatings. Because of these qualities, these coatings can be used to cover guide wires, vascular catheters, and other medical devices that are utilized to treat some very prevalent disorders, including orthopaedic and cardiovascular conditions.

    By Application Type

    The market is divided into general surgery, cardiovascular, orthopedics, dental, neurology, gynecology, and others. The expansion of this dominant market category of general surgery is driven by an increase in the number of general procedures including the use of such devices. As medical device coatings work to prevent hospital-acquired infections from spreading through medical devices, strict rules prohibiting their use are also crucial drivers in growth. Due to the rise in the frequency of orthopaedic illnesses, which necessitate a significant use of medical devices that require medical device coatings, the orthopaedics segment is also anticipated to develop at the quickest rate over the course of the projection year.

    Regional Analysis

    The medical device coating market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2021, North America is anticipated to be the medical device coating market's largest region owing to the increased product launches, approvals, and initiatives by firms.

    Want to know which region offers the best growth opportunities? Register Here

    Key Players

    The overall competitive landscape has been affected due to these mergers and acquisitions. The following are the major players in the medical device coating market:

    • AST Products, Inc.
    • Bayer AG
    • Biocoat Incorporated
    • Covalon Technologies Ltd
    • DSM
    • Harland Medical Systems
    • Hydromer, Inc.
    • KISCO Ltd
    • Precision Coating Co., Ltd.
    • Surmodics, Inc. 

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth analysis of the Medical Device Coating Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Recent Developments

    Medical device coating is a highly competitive market. To remain competitive in this market, market participants are placing a lot of emphasis on mergers, expansions, and product approvals. Here are a few significant developments:

    • In April 2022, Biocoat, Inc., a provider of hydrophilic biomaterial coatings and coating tools for medical devices, declared that it will be expanding into the design, development, and supply of hydrophilic dip coating tools. The EMERSE equipment line from Biocoat is available to businesses that need an in-house dip coating system to finish the production of their medical devices.
    • In September 2021, Hydromer, a global provider of coatings for industrial and medical applications, announced the opening of its brand-new plant, which has a wide range of new capabilities. The new facility was built following the most recent standards and is fully FDA certified, ISO9001:2015, and ISO13485:2016 authorized. It was created to accommodate all of the company's functions and provide notable services, namely the production of coatings that can be heat or UV-cured, in solvent and water base versions to fit any sort of coating requirements, a wide variety of surface modification procedures, contract development and supply of custom coatings according to customers' specifications, among other services
    • In August 2020, as an exclusive coatings provider and manufacturing partner for N8 Medical's CeraShield-coated endotracheal tubes, Hydromer revealed that the CeraShield coating has recently undergone tests that showed it can block and minimize the growth of COVID-19 virus on tube surfaces. A statistically significant decline in COVID-19 viral proliferation on the tube surface was observed after 60 minutes of testing
    • In February 2020, Biocoat, Inc., a developer of hydrophilic biomaterial coatings for medical devices, announced the availability of HYDAK UV. The updated HYDAK coating was created to be cured by ultraviolet (UV) radiation, enabling flexible integration with UV coating equipment that is industry standard. The cutting-edge coating is based on the tried-and-true bi-laminar architecture that is the foundation of Biocoat's current thermal heat cure coating technology
    • In January 2016, a partnership between DSM Biomedical and Vention Medical was established to give customers who develop and produce coated medical devices a single-source solution. DSM Biomedical is a world leader in biomedical materials research and regenerative medicine. Customers are now offered the opportunity to incorporate the development, testing, and application of DSM's ComfortCoat coating into the catheter production process, removing the need to send finished goods to a different supplier for services related to coating application and development.

    Frequently Asked Questions (FAQs)

    Medical device coatings (MDCs) are materials that improve a medical gadget's function and mobility. MDCs are used to protect the surfaces of many medical equipment, including those used in dentistry, neurology, and other fields. By using them, one can achieve optimal hygienic conditions, corrosion resistance, and biocompatibility. Their use lessens blood vessel injuries, allergic responses, and thrombogenicity.

    The medical device coating market is growing at a CAGR of 6.35% over the forecast period.

    The medical device coating market is likely to reach US$ ~12.56 billion in 2028.

    An increase in the frequency of hospital-acquired infections is what is fueling the growth of the medical device coating industry (HAI). For instance, the usage of contaminated devices might spread hospital-acquired infections, necessitating medical device coating to stop HAIs. As a result, the antimicrobial qualities of medical device coatings can aid in the prevention of HAIs, increasing demand for them and, in turn, the market's expansion.

    In 2021, North America is anticipated to be the medical device coating market's largest region owing to the increased product launches, approvals, and initiatives by firms.

    AST Products, Inc., Bayer AG, Biocoat Incorporated, Covalon Technologies Ltd, DSM, Harland Medical Systems, Hydromer, Inc., KISCO Ltd, Precision Coating Co., Ltd., and Surmodics, Inc. are the leading players in the medical device coating market.

    The market is studied from 2016-2028.