New York, United States , March 14, 2023 (GLOBE NEWSWIRE) -- The Global Medical Coating Market Size is to grow from USD 5.8 Billion in 2021 to USD 12.3 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 12.0% during the forecast period. Owing to increasing government expenditures and rising number of COVID-19 cases across the globe will fuel the market growth. The growing preference for antimicrobial coatings over disinfecting agents and other cleaning chemicals coupled with the ever-growing demand for minimally invasive surgical procedures is anticipated to fuel the market growth.
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Everything from orthopedic prostheses to dental implants now has a medical coating. The medical coating is extremely crucial for corrosion resistance in medical devices. As a result, medical coatings have become an indispensable component of many medical sector applications. Porous bioactive coatings enable biomedical engineers to create implants that are significantly better suited to bone-tissue interaction. Properties that induce healing have also been obtained by adding a protective medical coating to prosthetic device surfaces. Some further advantages of medical coatings include biocompatibility, quicker healing, rapid bone growth, tailored bond strengths, regulated or inert bioactivity, interconnected porosity, and low oxide coatings. These are only a few examples. Furthermore, increased demand for excellent healthcare, an aging population, and an increased need for early diagnosis and non-invasive therapies are likely to drive demand for medical devices, fostering market expansion over the projection period.
Browse key industry insights spread across 190 pages with 125 market data tables and figures & charts from the report on the "Global Medical Coating Market Size, Share, and COVID-19 Impact Analysis, By Type (Hydrophilic Coatings, Antimicrobial Coatings, Antithrombogenic Coatings, Hydrophobic Coating, Others), By Material (Metals, Ceramics, Polymers, Fluoropolymer, Silicone, Parylene, Others), By Application (Medical Devices, Medical Implants, Medical Equipment & Tools, Protective Clothing, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030." Get Detailed Report Description Here
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The antimicrobial coatings segment is witnessing significant CAGR growth over the forecast period.
On the basis of Type, the Global Medical Coating Market is segmented into hydrophilic coatings, antimicrobial coatings, anti-thrombogenic coatings, hydrophobic coating, and others. Among these, the antimicrobial coatings segment is witnessing significant CAGR growth over the forecast. As a result, as the healthcare business expands, so does the demand for antimicrobial coatings to maintain a sterile, sanitary, and safe medical environment.
The fluoropolymer segment is dominating the market over the forecast period.
On the basis of material, the Global Medical Coating Market is segmented into metals, ceramics, polymers, fluoropolymer, silicone, parylene, and others. Among these, the fluoropolymer segment is dominating the market over the forecast period. Fluoropolymers are adapted for a broad spectrum of uses, including the distribution of anesthetic, agitation shafts, sterilization apparatus, centrifuge components, saline packages, implants, tubes, surgical instruments, and many others.
The medical devices segment is dominating the market with the largest market share of 58% over the forecast period.
Based on the application, the Global Medical Coating Market is segmented into medical devices, medical implants, medical equipment & tools, protective clothing, and others. The medical devices sector leads the market with a 58% market share throughout the projection period, owing to an increase in the number of general operations including the usage of such equipment. The rising prevalence of the world's elderly population is one of the key factors driving the demand for medical equipment, which is expected to drive market growth.
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North America is dominating the market with the largest market share of 34%.
North America is expected to remain the industry's leading region during the forecast period, with a 34% market share, owing to the rising healthcare, construction, and building sectors, among others. The United States is a key industry for medical devices as well as a center for healthcare research and development, which is driving the regional market growth. The Asia Pacific medical coatings industry will grow the fastest. China and India are the two main medical device manufacturers in the Asia Pacific.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Flexible Heater Market include Endura Coating Systems, AST Products, Inc., Biocoat Incorporated, Royal DSM, Tex-Tech, Merit Medical Systems, Inc., SurModics Inc., Precision Coating Company, Inc, Bayer Ag, Covalon Technologies Ltd., HydromerInc, Kisco Ltd., Biocoat Incorporated, Sono-Tek Corp, Harland Medical Services, Medicoat AG, Speciality Coating Systems, Inc., and among others.
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Recent Development
In April2022, Harland Medical Systems, Inc. introduced the CTS1100 Coating Thickness Assessment System at MD&M West. The CTS1100 testing system enables medical device makers to accurately and easily measure coating thickness on their products.
In October 2021, Precision Coat VI has been released by Specialty Coating Systems, Inc. To achieve remarkable accuracy, repeatability, and high throughput for a wide range of automated material applications, the new system will include five programmable axes, servo motor position control, and up to eight tools on a single machine.
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