Pune, India, July 26, 2022 (GLOBE NEWSWIRE) -- The global medical coatings market size was USD 3,690.0 million in 2019 and is projected to reach USD 7,990.0 million by 2027, exhibiting a CAGR of 9.7% during the forecast period. The increasing preference for antimicrobial coatings over disinfectants and other cleaning agents will enable speedy expansion of the market.
According to Fortune Business Insights, in a report, titled “Medical Coatings Market Size, Share & Industry Analysis, By Type (Hydrophilic Coatings, Anti-microbial Coatings, Anti-thrombogenic Coatings, and Others), By Material Type (Fluoropolymer, Silicone, Parylene, Metals, and Others), By Application (Medical Device, Medical Implants, Medical Equipment & Tools, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 3,690.0 million in 2019.
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Medical Coatings Market Report Scope & Segmentation:
| Report Attribute | Details |
| Market size value in 2019 | USD 3,690.0 million |
| Revenue forecast in 2027 | USD 7,990.0 million |
| Growth Rate | CAGR of almost 9.7% 2020-2027 |
| Base Year | 2019 |
| Historic Years | 2016 - 2018 |
| Forecast Years | 2020 - 2027 |
| Segments Covered | By Type, By Material Type, By Application, By Distribution Channel, and Regional Forecast |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2020 to 2027 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Hydromer (New Jersey, U.S.), Harland Medical Systems (Minnesota, U.S.), Surmodics, Inc. (Minnesota, U.S.), DSM (Heerlen, Netherlands), AST Products, Inc. (Massachusetts, U.S.), Biocoat Incorporated (Philadelphia, U.S.), Precision Coating Company, Inc (Massachusetts, U.S.), Medicoat AG (Mägenwil, Switzerland), Merit Medical Systems, Inc. (Utah, U.S.), Specialty Coating Systems Inc. (Indianapolis, U.S.), and Other Key Players |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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The Report Lists the Key Companies in the Medical Coatings Market:
- Hydromer (New Jersey, U.S.)
- Harland Medical Systems (Minnesota, U.S.)
- Surmodics, Inc. (Minnesota, U.S.)
- DSM (Heerlen, Netherlands)
- AST Products, Inc. (Massachusetts, U.S.)
- Biocoat Incorporated (Philadelphia, U.S.)
- Precision Coating Company, Inc (Massachusetts, U.S.)
- Medicoat AG (Mägenwil, Switzerland)
- Merit Medical Systems, Inc. (Utah, U.S.)
- Specialty Coating Systems Inc. (Indianapolis, U.S.)
- Other Key Players
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Market Drivers:
Surging Minimally Invasive Surgical Procedures to Incite Market Development
The increasing number of minimally invasive surgeries around the world will spur opportunities for the market in the forthcoming years. The growing shift from traditional surgical procedures to less invasive medical procedures owing to its better accuracy rate will bolster the healthy growth of the market. The increasing incidence of arthritis, cancer, and cardiovascular diseases can have a tremendous impact on the global market.
Furthermore, the utilization of light medical instruments such as balloon angioplasty catheters, intravascular catheters, delivery sheaths, guide wires, and implant delivery systems that can pass through complicated and vulnerable areas of the body, which, in turn, will improve the prospects of the market.
Their wide use in cerebrovascular, coronary, and peripheral vascular systems during minimally invasive procedures can promote the growth of the market. Besides, the increasing use of such coatings on medical instruments for cardiac and urinary catheterization operations to reduce time consumption will effectively propel the growth of the market in the forthcoming years.
The report on the medical coatings market features:
- Wide-ranging analysis of the market
- Crucial facts about prominent players
- Leading regions in the market
- Key drivers and trends
- Significant development
- Market challenges and restraints
- Coronavirus effect
Heavy Demand for Medical Devices to Aid Market amid Coronavirus
The mounting demand for medical equipment such as PPE (Personal Security Equipment), ventilators, and diagnostic kits among healthcare professionals will ultimately enhance the progress of the market during coronavirus. The need for test kits and ventilators has posed enormous pressure on the medical industry.
The European Commission has recently introduced updated harmonized guidelines to speed up the development of surgical masks, gloves, containers for intravenous injections, sterilization instruments, and disinfectants. However, the existing supply chain problems related to the pandemic can relatively affect the market amid coronavirus.
Emphasis on Value Chain Activities by Industry Players to Fortify Business
Prominent companies are now searching for ways to strategically improve their value chain activities. These initiatives will help companies to cater to the growing global demand, boost productivity, strengthen their sales and market presence, produce new goods and technology, and reduce their cost of production and grow their customer base.
Regional Analysis:
Rising Prevalence of Cardiovascular Diseases to Enable Growth in Europe
The market in Europe is expected to hold the largest share owing to the increasing prevalence of arthritis, cancer, vascular diseases, cardiovascular diseases, and cerebrovascular conditions. The growing number of minimally invasive procedures and surgeries will foster growth in the region.
Asia Pacific is expected to expand radically during the forecast period owing to the growing demand for medical devices and tools such as ventilators, endotracheal tubes, catheters, guidewires, angioplasty catheters, delivery heaths, artificial implants, and others. The surging cases of coronavirus in China, India, and Pakistan will spur demand for medical coatings, which, in turn, will stimulate the growth of the market in Asia Pacific.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Type Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Medical Coatings Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Medical Coatings Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Volume/Value)
- Hydrophilic Coatings
- Anti-microbial Coatings
- Anti-thrombogenic Coatings
- Others
- By Material Type (Volume/Value)
- Fluoropolymer
- Silicone
- Parylene
- Metals
- Others
- By Application (Volume/Value)
- Medical Device
- Medical Implants
- Medical Equipment & Tools
- Others
- By Region (Volume/Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Type (Volume/Value)
Key Development:
April 2020: Hydromer announced that it has signed a partnership agreement with and N8 medical to bring ET-coated tubes for COVID-19 patients. Hydromer will be the exclusive supplier for coatings as well as manufacturing partner for N8’s medical CeraShield Endotracheal tube.
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Have a Look at Related Research Insights:
Antimicrobial Coatings Market Size, Share and Regional Forecast, 2020-2027
Medical Hydrophilic Coatings Market Size, Share and Regional Forecast, 2022-2029
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