Medical Device Coating Industry Overview
The global medical device coating market size was valued at USD 9.99 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 8.3% from 2020 to 2027.
Rising demand for ventilators, cardiovascular devices, catheters, sutures, guide wires, stents, syringes, mandrels, and other protecting devices used in the medical sectors owing to increasing government expenditures and rising number of COVID-19 cases across the globe will fuel the market growth. Medical device coating is crucial when it comes to protecting various types of devices used in the healthcare sector. These coatings enhance the performance and maneuverability of medical device and protect it from susceptible attacks of various microbial factors and other pathogens. In addition, it offers excellent dielectric properties, thermal stability, and dry-film lubricity, which is likely to create immense market potential over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Medical Device Coating Market
Rising occurrences of ischaemic heart disease, chronic obstructive pulmonary disease, and acute lower respiratory infections in children owing to surging pollution level, along with increasing demand for hydrophilic lubricious coatings in several cardiovascular and urology catheters, sheaths, and short-term implanted device as it induces biocompatibility, are anticipated to foster the market growth in the coming years.
Moreover, augmented demand for quality healthcare, increasing geriatric population, and growing need for early detection and non-invasive therapies are expected to propel the demand for medical devices, which, in turn, will foster the market growth over the forecast period
The ongoing COVD-19 pandemic across the globe has adversely affected the medical device coating manufacturing owing to the supply disruption. The coating manufacturers are finding it difficult to import important raw materials from outside countries. Even though some of the countries have restored operation, shipping complications, and shortage of raw material are cascading throughout the industry value chain. This is expected to have a negative impact on the marginal profitability of medical device coating manufacturers in the short term. However, the growing need for protective devices or other medical equipment for treatment and constraining the spread of the coronavirus is expected to have a positive impact on the market growth in the coming years.
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Medical Device Coating Market Segmentation
Grand View Research has segmented the global medical device coating market on the basis of product, application, and region:
Medical Device Coating Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Hydrophilic
- Antimicrobial
- Drug-eluting
- Anti-thrombogenic
- Others
Medical Device Coating Application Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Neurology
- Orthopedics
- General Surgery
- Cardiovascular
- Dentistry
- Gynecology
- Others
Medical Device Coating Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- North America
- Europe
- Asia Pacific
- Central South America
- Middle East Africa (MEA)
Market Share Insights
- April 2022: Specialty Coating Systems, Inc. (SCS) is pleased to announce the addition of Specialty Coating Systems (Vietnam) Co. Ltd. The ISO 9001:2015-certified facility provides conformal coating services to customers across the consumer and industrial electronics, transportation, aerospace and medical device industries.
Key Companies profiled:
Some of the prominent players operating in the global medical device coating market include:
- SurModics Inc.
- Sono-Tek Corp
- DSM
- Hydromer, Inc.
- Biocoat, Inc.
- Specialty Coating Systems, Inc.
- Covalon Technologies Ltd.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
