Medical Device Coating Market

Global Medical Device Coating Market Size (2023 to 2028)

The global market size for medical device coating is predicted to be worth USD 16.2 billion by 2028 from USD 10.47 billion in 2023, growing at a CAGR of 9.12% from 2023 to 2028.

Impact of COVID-19 on the global medical device coating market:

Emerging coatings manufacturers are having trouble importing crucial raw materials from other countries. Even if some countries have recovered, there are still problems with shipping and a shortage of raw resources. The marginal profitability of medical device coating is anticipated to be moderately impacted by this. On the other hand, the market is significantly growing due to the COVID-19 pandemic, and demand for these coatings is increasing in various sectors, including healthcare and awareness regarding hygiene maintenance. In addition, many scientists started developing new and eco-friendly surface coating-based nanomaterials from antifungal and antibacterial metal ions and polymers which can prevent surface-related SARS-CoV-2 infection. As a result, the growing need for protective devices for treatment and reducing the spread of the coronavirus is expected to have a positive impact on market growth in the coming years.

Advancements in minimally invasive procedures, the growing geriatric population worldwide and increasing hospital-acquired infections are primarily boosting the development of the medical device coating market.

In addition, the number of minimally invasive procedures is rising daily, and the demand for implantable devices is growing. As a result, minimally invasive surgery enabled by medical devices with surface advancements emerged as the gold standard for low-risk and efficient surgical procedures. The factor mentioned above is expected to project a favorable impact on the medical device coating market. The adoption of home healthcare is growing rapidly owing to the increasing geriatric population and demand for medical device coatings to reduce the risk of infection. Most of the older population is severely affected by the covid-19 virus, so demand for syringes, ventilators and cardiovascular diseases is increasing. 

Y-O-Y growth in the incidence of hospital-acquired infection is expected to boost the market for medical device coating. In addition, the rising expenditure of governments on healthcare facilities to improve patient safety and prevent the spread of infections is expected to drive market growth during the forecast period.

Furthermore, changing lifestyles, rising income levels, rapid urbanization, increasing incidence of various diseases due to unhealthy dietary propensities, and advancements in the treatment procedures are a few of the other significant factors promoting the medical device coating market growth. In addition, increasing healthcare investments, robotic surgical procedures, favorable government policies comprising the increasing healthcare spending and reimbursement coverage, and various innovative and connected products such as advanced diagnostics and wearable medical devices are expected to favor the growth rate of the medical device coating market. Furthermore, advanced coating technologies such as hydroxyapatite, antimicrobial silver coatings, drug-eluting coatings, and heparin, a blood-compatible coating, are boosting the market's growth, bringing about advanced coatings. In addition, Nanocoatings are one of the opportunities for medical device coating soon. 

However, the difference in raw material prices, the lengthy approval process for the development of antimicrobial coating products, increasing expense of healthcare service devices are the factors that restrain the market growth. In addition, the lack of FDA regulations and guidance for antimicrobial coating technology, lack of awareness about coating, and the restriction of silver ion coating are some factors restraining the medical device coating market.

 REPORT COVERAGE:

This research report on the global medical device coating market has been segmented and sub-segmented based on the product, material type, application & region.

Medical Device Coating Market - By Product:

• Hydrophilic Coatings
• Antimicrobial Coatings
• Drug-eluting Coatings
• Anti-thrombogenic Coatings

The antimicrobial coating segment accounted for a significant share of the medical device coating market in 2022. This segment is developed to prevent the growth of bacteria and germs on several surfaces, growing the geriatric population, raise R&D activities, increase the prevalence of chronic diseases, raise awareness about hospital-acquired infections, and increase the prevalence of lifestyle-associated diseases, such as diabetes and cardiovascular diseases. Antimicrobial coatings use Parylene polymers, which are used on medical devices.

 Medical Device Coating Market - By Application:

• Medical Devices
• Medical Implants
• Medical Equipment & Tools
• Protective Clothing

The medical devices segment led the market in 2021 due to a rise in the number of general surgeries and an increase in the incidence of diseases requiring implants. 

 Medical device coating market – By Material Type:

• Fluoropolymer
• Silicone
• Parylene
• Metals

The fluoropolymer segment witnessed the leading share of the global medical device coating market in 2022. Fluoropolymers prevent nearly any substance from bonding to and reacting with a coated surface. To stop penetration and chemical attacks, fluoropolymers cover surfaces that must not meet metal, contaminated substrate, or other contaminants. 

 Medical device coating market – By Region:

• North America
• Europe
• Asia-Pacific
• Middle East Africa
• Latin America

Regionally, North America led the medical device coatings market worldwide in 2022. Due to the rising geriatric population, advanced medical devices, numerous manufacturers, and government support in providing quality healthcare services, the U.S. remained the world's most significant medical device market. US medical device manufacturers control more than half of the Canadian medical device market. As a result, there is high demand for high-quality medical technologies in the Canadian market. As per U.S. Center for Disease Control and Prevention (CDC), more than 98,000 patients (one in 17) die due to healthcare infection, and nearly 1.7 million patients are hospitalized. According to an Intensive Care study, the proportion of infected patients within the ICU is often as high as 51%.

Europe holds second place in the global medical device coating market. Factors such as well-established healthcare sectors in the region and the increasing use of the medical device coating market in the region are the major factors that drive the market forward.

Asia-Pacific is expected to have the fastest growth in coming years due to the increasing number of hospitals, demand for high-quality medical devices, healthcare infrastructure, and geriatric population in the region. China is dominating the global medical device coatings market. Lenient government regulations and high foreign investment are the factors responsible for growth in this region.

TOP COMPANIES IN THIS MARKET:

Companies playing a prominent role in the global medical device coating market profiled in this report are SurModics Inc., Sono-Tek Corp, DSM, Hydromer, Inc., Biocoat, Inc., and Specialty Coating Systems, Inc., and Covalon Technologies Ltd.

 RECENT HAPPENINGS IN THIS MARKET:

• In 2020, Hydromer, the exclusive coatings partner for N8, announced that the CeraShield Coating demonstrated the ability to inhibit and reduce COVID-19 virus growth on tube surfaces.
• In 2020, HYDAK UV entered the market, according to Biocoat, Inc., a specialty developer of hydrophilic biomaterial coatings for medical devices. The new version of the company's original HYDAK coating is UV-curable, enabling easy integration with industry-standard UV coating equipment. The new coating is based on Biocoat's existing thermal heat cure coating technology, which uses a proven bi-laminar platform.
• In 2022, Specialty Coating Systems, Inc. (SCS) is ready to announce the addition of Specialty Coating Systems Co. Ltd. Customers in the consumer and industrial electronics, transportation, aerospace, and medical device industries can get conformal coating services from ISO 9001:2015-certified facility.
• In 2021, at Interplas, BioCote introduced innovative antimicrobial solutions and new developments. The BioCote team explained the benefits of plastic antimicrobial products and how we achieve antimicrobial protection.