Medical Device Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Medical Device Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global medical device coatings market size reached US$ 8.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.62% during 2023-2028.

Medical device coatings (MDCs) improve maneuverability and performance of medical devices, such as surgical, cardiovascular, orthopedic, dental implants, neurology, and gynecology devices. They help maintain sharp edges on cutting instruments while improving wear resistance, reducing galling between sliding components, and increasing lubricity. They also assist in avoiding allergenic substances while resisting bacteria on medical devices, which can be used on several patients without risking new infections. Apart from this, they offer several functional benefits, such as an anti-glare surface for bright operating rooms, anti-fouling in the presence of blood and tissue, and antimicrobial properties.

Medical Device Coatings Market Trends:

At present, there is a rise in the prevalence of hospital-acquired infections (HAIs) due to contaminated medical instruments, such as catheters and respiratory machines. This, along with the antimicrobial properties of MDCs, represents one of the key factors driving the market. Moreover, there is an increase in the utilization of the minimally invasive (MI) medical device with appropriate coatings to cause minimal harm and protect patients from thrombogenicity, blood vessel damage, and other internal injuries. This, coupled with the growing availability of novel medical devices across the globe, is positively influencing the market. In addition, the increasing employment of implantable devices, such as cardiac pacemakers, implantable cardiac defibrillators (ICDs), coronary stents, hip implants, interocular lenses and implantable insulin pumps to save the life of patients, is propelling the market growth. Besides this, the escalating demand for nanocoating in medical devices to repel dry particles, water, oil, and dirt is offering lucrative growth opportunities to industry investors. Apart from this, governments of several countries are extensively investing in the healthcare industry, which, in turn, is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global medical device coatings market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, material and application.

Breakup by Product:

Hydrophilic Coatings
Antimicrobial Coatings
Drug-Eluting Coatings
Anti-Thrombogenic Coatings
Others

Breakup by Material:

Metals

Silver
Titanium
Others

Ceramics
Polymers

Silicone
Parylene
Fluoropolymers

Breakup by Application:

Neurology
Orthopedics
General Surgery
Cardiovascular
Dentistry
Gynecology
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being AST Products Inc., Biocoat Incorporated, Coatings2go LLC, Covalon Technologies Ltd., Harland Medical Systems Inc., Hydromer Inc., Kisco Ltd., Koninklijke DSM N.V., Merit Medical Systems Inc., Precision Coating Co Inc. (Katahdin Industries Inc.), Sono-Tek Corporation and Surmodics Inc.

Key Questions Answered in This Report:

What was the size of the global medical device coatings market in 2022?

What is the expected growth rate of the global medical device coatings market during 2023-2028?

What are the key factors driving the global medical device coatings market?

What has been the impact of COVID-19 on the global medical device coatings market?

What is the breakup of the global medical device coatings market based on the product?

What is the breakup of the global medical device coatings market based on the material?

What is the breakup of the global medical device coatings market based on application?

What are the key regions in the global medical device coatings market?

Who are the key players/companies in the global medical device coatings market?