The latest report by IMARC Group, titled "Medical Device Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," finds that the global medical device coatings market size reached US$ 8.7 Billion in 2022. Medical device coatings (MDCs) are used to improve the maneuverability and performance of various medical devices, such as cardiovascular, orthopedic, surgical, dental implants, neurology, and gynecology devices. They provide sharp edges on cutting instruments while improving wear resistance, increasing lubricity, and reducing galling between sliding components. They also prevent allergenic substances and bacteria on medical devices to avoid infections in patients. Owing to these benefits, medical device coatings find extensive applications in the healthcare industry.
Global Medical Device Coatings Market Trends:
The market is primarily driven by the growing prevalence of hospital-acquired infections (HAIs) caused by contaminated medical instruments, such as respiratory machines and catheters. In addition, the increasing utilization of minimally invasive (MI) medical devices to protect patients from thrombogenicity, blood vessel damage, and other internal injuries represent another major growth-inducing factor. Besides this, healthcare professionals are widely using implantable devices, such as implantable cardiac defibrillators (ICDs), hip implants, cardiac pacemakers, coronary stents, interocular lenses, and implantable insulin pumps. This, coupled with the escalating demand for nanocoating in medical devices to repel water, oil, dry particles, and dirt, is positively influencing the market growth. Moreover, the easy availability of novel medical devices across the globe and the increasing government expenditure on healthcare infrastructures are also creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 13.9 Billion by 2028, exhibiting a CAGR of 7.62% during the forecast period (2023-2028).
- Based on the product, the market has been segmented into hydrophilic, antimicrobial, drug-eluting, anti-thrombogenic, and other coatings.
- On the basis of the material, the market has been classified into metals (silver, titanium, and others), ceramics, and polymers (silicone, parylene, and fluoropolymers).
- Based on the application, the market has been segregated into neurology, orthopedics, general surgery, cardiovascular, dentistry, gynecology, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined in the report, with some of the key players being AST Products Inc., Biocoat Incorporated, Coatings2go LLC, Covalon Technologies Ltd., Harland Medical Systems Inc., Hydromer Inc., Kisco Ltd., Koninklijke DSM N.V., Merit Medical Systems Inc., Precision Coating Co Inc. (Katahdin Industries Inc.), Sono-Tek Corporation and Surmodics Inc.
|Base Year of the Analysis
||Product, Material, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||AST Products Inc., Biocoat Incorporated, Coatings2go LLC, Covalon Technologies Ltd., Harland Medical Systems Inc., Hydromer Inc., Kisco Ltd., Koninklijke DSM N.V., Merit Medical Systems Inc., Precision Coating Co Inc. (Katahdin Industries Inc.), Sono-Tek Corporation and Surmodics Inc
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