Medical Device Coating Market by Coating Type (Hydrophilic and Hydrophobic), Material (Metals, Ceramics and Polymers), Application (Medical Devices and Medical Implants) and Device Type (Gynecology, General surgery, Cardiovascular, Dentistry, Neurology, O

Medical Device Coating Market by Coating Type (Hydrophilic and Hydrophobic), Material (Metals, Ceramics and Polymers), Application (Medical Devices and Medical Implants) and Device Type (Gynecology, General surgery, Cardiovascular, Dentistry, Neurology, Orthopedics and others): Opportunity Analysis and Industry Forecast, 2020–2030

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

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
U.S.
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 (These players are not profiled in the report. The same will be included on request.)

Merit Medical Systems, Inc.
PPG Industries, Inc.
Materion Corp
Sono - Tek Corporation