Global medical device coatings market is expected to increase to USD 18.14 billion by the end of 2022

Market Highlights

The global medical device coatings market has been evaluated to be rapidly growing and is expected to grow tremendously. Medical device coatings helps in  reducing  friction between medical device and tissues by providing surface coverage, uniform adhesion, wear-resistance and coating homogeneity. Medical device coatings includes antimicrobial to liquids, lubricants to water repellent polymers and each device is utilized in various applications. Medical equipment is utilized in every phase of medical procedure starting, from basic check-ups, clinical surgeries and tests.

The medical coatings market is segmented into two type’s namely hydrophilic and hydrophobic coatings. These types have application specific demands that can be segmented on the basis of cost and efficiency. These coatings may be used in combinations with medical products as per the requirement.  Hydrophilic coatings are widely used on medical products such as; guide wires, catheters, and introducer sheaths to lower the friction. The demand for hydrophilic coatings is high due to its properties such as lubricity, durability, low friction coefficient, and low particulate count.

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Medical devices broadly used in the following field of medical science namely orthopedics, neurology, gynecology, cardiovascular and others. Several new coating technologies are being developed related to application to these devices, to reduce the friction between the device and the tissue, and provide good surface coverage, wetting, uniform adhesion, wear-resistance and coating homogeneity. The developing medical device coatings market in China and India is expected to boost the global medical device coatings market.

Companies such as Hydromer Inc., Materion Corp., Surmodics Inc., Sono-Tek Corp, Abbott Laboratories, and Royal DSM N.V. have implemented acquisition and expansion of business strategies to increase their geographical presence. Few global players have invested in R&D amenities to discover advanced and innovative folic products with higher efficacy rate and ease of use.

Regional Analysis

North America region is expected to maintain its dominance in the global market. Emerging markets of China, Japan and India are expected to boost the Asia Pacific medical coatings market. Other emerging markets are Europe and Middle East countries. Asia Pacific has the largest market share for global medical device coatings, followed by Europe and Row.

The largest market of medical device coatings is in North America owing to the growth of advanced surgical treatment, availability of products and rising number of clinics and hospitals. Developing countries in Asia-Pacific are further contributing to the growth of this market. China, India and Japan is expected to drive this market in the coming years. With changing lifestyle along with better healthcare facilities in Asia-Pacific are expected to be the largest consumer of the medical device coatings market. It is seen that Asia-Pacific is the upcoming largest consumer of medical device coatings due to the changing trend.

Global Medical Device Coatings Market Players:

Major participants of this market are: Hydromer Inc., Materion Corp., Surmodics Inc., Sono-Tek Corp, Abbott Laboratories, Royal DSM N.V., Specialty Coating Systems Inc., Parlex Corp., Kane Biotech Inc., Precision Coating Company Inc., N8 Medical Inc, Biocoat, Inc and others.

Commenting on this report, an analyst from Market Research Future’s (MRFR) team said: “The market of medical device coatings is growing rapidly due to its wide application such as Orthopedics, Neurology, Gynecology, Cardiovascular and Others. The medical device coatings market size is estimated to grow to USD 18.14 billion in 2022 maintaining the CAGR of 7.9% from 2016 to 2022. Rising technological advancement such as introduction of fluorinated, silver and spin coatings, usage of hydroxyapatite and micro blasting technique are drivers of the market.

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