Medical Device Coating Market Size, Share & Trends Analysis Report By Product (Drug-eluting, Hydrophilic, Antimicrobial), By Application (Neurology, Cardiovascular, Dentistry), By Region, And Segment Forecasts, 2023 - 2030
Medical Device Coating Market Growth & Trends
The global medical device coating market size is expected to reach USD 23.85 billion by 2030, registering a CAGR of 8.0% from 2023 to 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rising demand for cardiovascular devices, stents, ventilators, sutures, guide wires, syringes, catheters, mandrels, and other protective equipment used in the healthcare sector. In addition, factors, such as the growing demand for early detection and non-invasive treatments, as well as high-quality healthcare, are anticipated to drive the growth of medical devices, which is projected to fuel the demand in the coming years.Medical Device Coatings (MDCs) are materials that improve a device’s performance and mobility.
MDCs are used in protecting the surfaces of several equipment, including those used in neurology, dentistry, and other fields. Moreover, these coatings are applied to a variety of instruments used in healthcare, including those used in general surgery, cardiology, orthopedics, dentistry, implants, neurology, gynecology, and other fields.North America dominated the industry in 2022. As per the statistics of the Centers for Medicare & Medicaid Services, the national health expenditure in the U.S. grew by 2.7% to USD 4.3 trillion in 2021. Also, private health insurance spending grew by 9.2% to USD 734.0 billion in 2021. The increasing spending on Medicare, private health insurance, and prescription drugs in the U.S. is predicted to boost product demand in the region over the forecast period.
Medical Device Coating Market Report Highlights
The antimicrobial coatings segment is projected to grow at the highest growth rate over the forecast period owing to their low price and high compatibility with different materials, such as carbon fiber, composite materials, metal, plastic, and stainless steel
The prevalence of infections, such as pneumonia associated with ventilators and catheter-associated urinary tract infections, is forcing medical equipment manufacturers to coat their products with anti-microbial agents
The cardiovascular application segment dominated the industryin 2022 due to the increasing cases of heart diseases and the rising adoption of implants and cardiac pacemakers among heart patients
Asia Pacific is expected to witness the fastest growth rate over the forecast period due to the growing number of healthcare facilities in the region
Please note The report will be delivered in 3-8 business days upon order notification.
Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.4 Information analysis
1.5 Market formulation & data visualization
1.6 Data validation & publishing
1.6.1 Research scope and assumptions
1.6.2 Secondary Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segmental Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Medical Device Coating: Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Global Medical Device Coatings Market Outlook
3.2 Industry Value Chain Analysis
3.2.1 Raw Material Trends
3.2.2 Manufacturing & technology Trends
3.2.3 Sales Channel Analysis
3.3 Price Trend Analysis, 2018 - 2030
3.4 Regulatory Framework
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.2 Market Restraint Analysis
3.5.3 Industry Challenges Analysis
3.5.4 Industry Opportunities Analysis
3.6 Impact of Covid-19 Pandemic
3.7 Impact of European Geopolitical Conflict
3.8 Business Environment Analysis
3.8.1 Industry Analysis - Porter Analysis
3.8.2 Macroeconomic Analysis- PESTEL Analysis
Chapter 4 Medical Device Coating Market: Suppliers Portfolio Analysis