Medical Coatings For Implants Market Size, Share & Trends Analysis Report By Product (Hydroxyapatite), By Technology (Plasma Spray), By Application, By Region, And Segment Forecasts, 2023 - 2030

Medical Coatings For Implants Market Size, Share & Trends Analysis Report By Product (Hydroxyapatite), By Technology (Plasma Spray), By Application, By Region, And Segment Forecasts, 2023 - 2030

Medical Coatings For Implants Market Growth & Trends

The global medical coatings for implants market size is expected to reach USD 2,832.17 million by 2030, as per the new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.3% from 2023 to 2030. The growth is mainly driven by growing demand for medical implants for cardiovascular, dental, and orthopedics on the account of rising health issues related to bones, dental, and heart. Increase in incidence of orthopedic injuries, diseases such as arthritis, osteoarthritis, and the rapid rise in geriatric population are propelling the demand for orthopedic implants, further driving the demand for medical coatings. Increasing elderly population, rising need for medical care of the aging population, rise in the prevalence of chronic disorders & diseases, and increasing healthcare expenditure is also augmenting the demand for medical coatings for implants.

Medical device coatings provide beneficial properties, including lubricity, flexibility, biocompatibility, antimicrobial, drug-eluting, and thromboresistance, to medical devices. The consumption for medical coatings has largely surged among manufacturers of cardiac arrest devices, catheters, feeding tubes, epidural probes, stents, guide wires, and other devices, which are to be inserted in the human body. These coatings provide high resistance against Healthcare Associated Infections (HAI), which is very common among people, who have been implanted with foreign devices for medical health care purposes.

The growing demand for coatings is expected to augment industry growth, as they improve biocompatibility between living tissues and medical devices. Rising preference for implantable and non-implantable medical equipment, along with growing number of private and public hospitals, is likely to fuel market growth. Technological innovation, such as introduction of antimicrobial microRESIST technology for orthopedic implants and catheters with anti-microbial properties, are further expected to foster market growth over the forecast period.

Healthcare expenditure in North America is likely to be driven by the rising prevalence of chronic diseases coupled with the expansion of insurance coverage in the U.S. The strengthening of the Western European economies is expected to result in high provision for healthcare expenditure in the annual budgetary proposals. The healthcare expenditure in Central & South America is expected to be driven by developments in the healthcare industry in Brazil. Moreover, healthcare industry in Asia is expected to be fueled by the growing consumer wealth in economies such as China and India. The presence of a well-developed healthcare industry in India coupled with growth of medical tourism is expected to augment the demand for medical coatings for implants.

Medical Coatings For Implants Market Report Highlights

• Nanoparticle is the fastest growing product segment by revenue with an expected to expand at a CAGR of 10.3% on owing to the growing adaption of nano-technology in healthcare system
• Physical Vapor Deposition (PVD) is the second fastest growing technology segment after others by revenue with an expected CAGR of 9.7% due to its properties such as corrosion resistance of metallic implants and it reduces allergic reactions
• Dental implants is the fastest growing application segment by revenue with an expected CAGR of 10.3% due to growing demand for dental implants on the account of deteriorating teeth condition due to excessive consumption of junk food
• Asia Pacific is the fastest growing region by revenue with a CAGR of 10.0% because of growing population in the region
• Medical Coatings for Implants manufacturers are striving to elevate their production capacities in order to ensure regular supply of the product due to its growing demand from automotive industry

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