Medical Device Coatings Market Analysis

Global Medical Device Coatings Market Overview

The  Medical Device Coatings Market Size was valued at USD 3.8 Billion in 2022. The Medical Device Coatings industry is projected to grow from USD 4.1 Billion in 2023 to USD 9.02 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.9% during the forecast period (2023 - 2032). The increasing demand for ventilators, stents, mandrels, syringes, and other protection devices in the healthcare sector is predicted to propel the industry during the projection period. In addition, the rising COVID-19 cases and the increasing government expenditure on healthcare are anticipated to be other salient causes that can develop the global market in the coming period. In addition, the coatings are likely to witness a surged demand due to their thermal stability and dry-film lubricity which can propel the Medical Device Coating Market significantly in the forecast tenure.

 Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Medical Device Coatings Market Trends

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  Growing Illness among the Expanding Populace can Favor Market Growth.

  
  

The increasing incidences of acute lower respiratory infections among the expanding geriatric populace owing to the rising pollution are expected to grow the demand for hydrophilic lubricious coatings on devices, which is expected to augment the market during the forecast period. In addition, the growing need for non-invasive therapies is expected to boost the Medical Device Coating Market in the coming period. 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Additionally, The rising demand for quality healthcare and the growing need for early detection of ailments can offer various opportunities for Medical Device Coating Market growth in the assessment period.

Boston Scientific Corporation reported in 2024 that the AGENTTM Drug-Coated Balloon (DCB), which is intended to treat coronary in-stent restenosis (ISR) in patients with coronary artery disease, has been approved by the U.S. Food and Drug Administration (FDA). ISR is the narrowing or blockage of a stented artery due to scar tissue or plaque.

Medical Device Coatings Market Segment Insights

Medical Device Coatings Type Insights

The  Medical Device Coatings Market segmentation, based on Type, includes drug-eluting, antimicrobial, hydrophilic, and anti-thrombogenic medical device Coating. The antimicrobial medical device coating segment is expected to acquire the maximum market share of the market demand for Medical Device Coatings during the forecast period. The Antimicrobial Medical Device Coating is projected to thrive at a notable owing to the rising need to avoid bacterial colonization on orthopedic implant surfaces. Hydrophilic Medical Device Coating is another lucrative segment in the Medical Device Coating Market, which is anticipated to expand the highest CAGR of 5.81% during the projection tenure. 

Medical Device Coatings Application Insights

Based on Application, the  Medical Device Coatings Market segmentation includes gynecology, orthopedics, neurology, cardiovascular, and others. Among all segments, the need for Medical Device Coating is expected to rise in diagnostic or surgical instruments used in cardiovascular ailments. The cardiovascular is the largest segment thriving at a higher CAGR while amassing a market value of USD 4,320.3 million by 2023. The growth can be attributed to the increasing penetration of medical devices in pacemakers and cardiac surgeries.

Figure 2:  Medical Device Coatings Market, by Application, 2023 & 2030 (USD Billion)            

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Medical Device Coatings Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. the Medical Device Coating Market is anticipated to be dominated by North America owing to the presence of advanced healthcare facilities and the rising incidents of cardiometabolic disorders. Also, the growing cases of COVID-19 are likely to aid in boosting the regional market. In addition, the rapid development of healthcare infrastructure and adoption of advanced surgical treatments are likely to boost the industry in the region during the assessment period.

Figure 3:  MEDICAL DEVICE COATINGS MARKET SHARE BY REGION 2023 (%)      

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

APAC region is predicted to acquire a substantial Medical Device Coating Market Value during the assessment timeframe owing to the surging need for better healthcare infrastructure and the rising geriatric population. The rising demand for the home healthcare market, ease of private health insurance, and the surging obesity rates are predicted to be salient causes that can augment the regional trade in the coming period. In addition, the participation of the evolving economies such as; India, China, and Japan is expected to be another salient factor that can fuel the regional market in the assessment period.

Europe is predicted to procure a significant market value during the review timeframe owing to the increasing cases of obesity, expanding geriatric population, and surging cardiac ailments. The role of the U.K. and Germany is projected to further develop the regional market in the review period.

Medical Device Coatings Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Medical Device Coatings market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Medical Device Coatings industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Medical Device Coatings. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their global presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Medical Device Coatings industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the global Medical Device Coatings industry to benefit customers and expand the market sector. The Low-Profile Additives market has recently given medicine some of the most important advantages. Major Medical Device Coatings market players include Speciality Coating Systems Inc (U.S.), Royal DSM N.V. (The Netherlands), and Biocoat Incorporated (U.S.).Surmodics Inc. (U.S.), and others, are attempting to increase market demand by funding R&D initiatives.

Specialty Coatings & Chemicals provides coating systems, chemical products, and technical support. It also offers adhesives, aerosols, and vinyl. The Company serves the industrial, aerospace, and military industries.

Also, Biocoat is a provider of surface technology solutions for medical devices. It offers hydrophilic coatings, polymeric, metallics, and more.

DuPont declared that the largest building materials show in Taiwan, Taipei Building Show, featured a number of innovative products from Coryor Surface Treatment Company Ltd. and Nippon Paint Taiwan, including printed Tedlar® PVF solutions and PVF coating. DuPont and Coryor Surface Treatment Co. collaborated closely to introduce the printed PVF film solutions that were showcased during the exhibition. One of Coryor's AAMALON® applications series, which focuses on improved weathering resistance among other performance benefits, is this inventive PVF product manufactured using Tedlar®. Tedlar® films have been successfully used in the most demanding conditions for over 60 years.

Diofan Ultra736 is fluorine-free in 2023, complies with legal standards for direct pharmaceutical contact, and aids in the creation of environmentally friendly films with thinner coatings. Pharmaceutical blister packaging uses diofan PVDC coatings to safeguard delicate solid-dose medication compositions. Because of their unique ability to act as both an oxygen and a water vapour barrier, they are frequently chosen for application on substrates made of paper or plastic.

Key Companies in the Medical Device Coatings market include

• Speciality Coating Systems Inc (U.S.)


• Royal DSM N.V (The Netherlands)


• Biocoat Incorporated (U.S.).


• Surmodics Inc. (U.S.)


• Precision Coating Company Inc (U.S.).


• Materion Corporation (U.S.)


• Hydromer Inc (U.S.)


• Sono-Tek Corp (U.S.)

Medical Device Coatings Industry Developments

In July 2021, Researchers at the Korea Institute of Science and Technology (KIST) built a human implantable medical device coating technology, which can boost the life span and stability of the medical device. The team working on the project has claimed that the technology boosted the lifespan of the medical device by almost four times the existing device by diminishing tissue damage throughout the insertion process and suppressing the inflammatory reaction.

December 2020, Garwood Medical Devices, a US-based medical device company, and the University of Buffalo research team have won a federal grant of USD 749,000 to evaluate a medical device to prevent and eliminate bacterial biofilm infections associated with orthopedic implants.

Medical Device Coatings Type Outlook

• Antimicrobial


• Drug-Eluting


• Hydrophilic


• Anti Therombogenic

Medical Device Coatings Application Outlook

• Cardiovascular


• Orthopedics


• Neurology


• Gynecology


• Others

Medical Device Coatings Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America