A new analysis report on the Medical Coating Market, which is forecasted between 2021 and 2028, has been published by Knowledge Sourcing Intelligence.
The growth of the medical coating market is propelled by increasing cases of hospital-acquired infections and chronic diseases. Additionally, the market is expected to experience significant expansion driven by the demand for versatile, customized coatings. Ongoing research and development efforts lead to innovative coating solutions, while product advancements and strategic initiatives by key players open doors for expansion into new application areas.
The medical coating market is predicted to grow at a CAGR of 9.48% from US$13.784 billion in 2021 to US$25.980 billion by 2028.
Medical equipment, implants, and devices require specialized coatings to enhance their functionality and safety. These coatings are essential for ensuring the safety and effectiveness of medical devices. They serve as protective layers that prevent contamination, increase durability, and improve biocompatibility.
The medical coating market is primarily fueled by the increasing incidence of hospital-acquired infections and chronic diseases, often linked to extended hospital stays. For instance, in 2021, Surmodics, a worldwide provider of medical devices and in vitro diagnostic technologies, introduced Serene™, a hydrophilic coating designed for medical devices. Serene™, which is applied as a spray coating, enhances the lubricity and biocompatibility of devices like catheters and guidewires. This innovation aims to enhance device performance and enhance patient comfort during medical procedures. Hospital-acquired infections, caused by medical equipment like catheters, central lines, and ventilators, pose a significant health risk, with over 98,000 deaths and 1.7 million infections annually in the United States, particularly affecting ICU patients, where infection rates can reach 51%. Despite its growth potential, this market faces challenges, including rising raw material costs and the risk of coating failures, especially with hydrophilic and hydrophobic coatings on medical equipment. However, the prevalence of chronic diseases is boosting the demand for medical coatings, aligning with increased healthcare spending. For example, healthcare expenditure in the U.S. reached $4.3 trillion in 2021, averaging $12,914 per person, contributing to the expansion of the medical coating market.
Based on the coating type, the Medical Coating Market is bifurcated into Antimicrobial Coating, Lubricant Coating, Hydrophilic Surface coating, Drug-Eluting Coating, and Others. The hydrophilic coatings category is projected to dominate the medical coatings market, holding the largest market share. This segment’s significant share can be attributed to the strong demand for medical devices coated with hydrophilic materials, due to their benefits, including reduced friction, enhanced lubrication, and excellent compatibility with blood and other bodily fluids.
Based on the material type, the Medical Coating Market is bifurcated into polymer, ceramic, and metals. The polymers segment is anticipated to dominate the market due to its effectiveness in enhancing durability, providing corrosion resistance, and ensuring better biocompatibility.
Based on the technology, the Medical Coating Market is bifurcated into Spray Coating, Pulsed Laser Deposition (PLD), Inkjet Printing, Chemical Vapor Deposition, and Spatter Coating. The spray coating technology segment in the medical coating market is poised for growth, offering customizable solutions that enhance the performance and functionality of medical devices in a cost-effective manner. This drives the demand for spray coatings in the market.
Based on the application, the Medical Coating Market is categorized into medical devices & instruments, medical implants, and other applications. The medical devices segment is poised to hold the largest market share. This is attributed to the growing demand for medical devices like guidewires, endotracheal tubes, catheters, and more. Medical coatings play a pivotal role in enhancing patient safety and reducing the risk of infections in these devices.
Based on Geography, the Medical Coating Market is divided into North America, South America, Europe, the Middle East and Africa, and Asia Pacific. Asia Pacific holds a substantial share of the global medical coating market, with significant growth expected in the Indian medical coating market during the forecasted period. This growth is attributed to factors such as the aging population in India, which leads to increased demand for medical devices and, consequently, medical coatings. Additionally, the rising prevalence of chronic diseases in India is linked to lifestyle changes, urbanization, and an aging population.
As a part of the report, the major players operating in the medical coating market that have been covered are Endura® Coatings, DSM, Hydromer, Precision Coating Company, Inc., Surmodics, Inc., Specialty Coating Systems, Inc., Biocoat Incorporated, Applied Medical Coatings, Miller-Stephenson, Inc., Materion Corporation, Fredudenberg Medical, Medicoat AG.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/medical-coating-market
This analytics report segments the Medical Coating Market on the following basis:
- BY COATING TYPE
- Antimicrobial Coating
- Lubricant Coating
- Hydrophilic Surface Coatings
- Drug-Eluting Coating
- BY MATERIAL TYPE
- BY TECHNOLOGY
- Spray Coating
- Pulsed Laser Deposition (PLD)
- Inkjet Printing
- Chemical Vapor Deposition
- Spatter Coating
- BY APPLICATION
- Medical Devices & Instruments
- Medical Implants
- BY GEOGRAPHY
- North America
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Asia Pacific
- South Korea
- North America