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The coatings market for medical devices market size is forecast to increase by USD 5.22 billion, at a CAGR of 8.69% between 2023 and 2028. The market's expansion hinges on various factors, notably the heightened incidence of cancer, the imperative for cost reduction in drug exploration and advancement, and the escalating call for precision medicine. These facets collectively drive the trajectory of the market, fostering advancements in oncology diagnostics and treatments. With a growing emphasis on precision medicine, there's a parallel demand for innovative approaches that target specific molecular characteristics. This shift not only reflects the evolving landscape of healthcare but also underscores the urgency for streamlined drug discovery processes. As cancer cases continue to rise, the market responds by innovating cost-effective solutions while meeting the increasing demand for personalized therapeutic interventions.
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Medical device coatings play a crucial role in enhancing the performance and functionality of various medical devices, including ventilators, catheters, cardiovascular devices, guide wires, sutures, syringes, mandrels, stents, and more. These coatings provide protection against pathogens, improve biocompatibility, and offer high performance characteristics. Companies like Hydromer and N8 Medical specialize in producing advanced coatings for medical devices. Medical device regulation mandates the use of biocompatible coatings to ensure safety and efficacy. The market landscape depends on Medical Devices Regulation, Hospital at home programs, Multifunctional coatings, High performance coatings, Substrate, and Class I devices. The home healthcare sector has witnessed significant growth, leading to an increased demand for medical devices with advanced coatings. Nanotechnology has been a major influencer in the development of multifunctional and passive coatings. Medical device developers and manufacturers are continually exploring surface modification technologies to enhance the physiochemical properties of their devices. Frictional resistance, a critical factor in the performance of medical devices, is also influenced by coatings. Class I and Class II devices, which require lower and higher levels of regulatory control, respectively, both benefit from the use of high-performance coatings. The market for medical device coatings is expected to grow significantly due to the increasing demand for advanced medical devices and the continuous innovation in coating technologies.
Growing demand for cardiovascular and orthopedic implants is one of the key factors driving the growth of the global coatings market for the industry. With the aging population, the demand for orthopaedic and cardiovascular implants has increased rapidly. Orthopedic joint replacement surgery includes knee and hip implants. For falls and arthrosis, orthopedic joint replacement is required. Osteoarthritis refers to joint inflammation due to cartilage degeneration, aging, genetics, or trauma. Orthopedic joint replacement implants are made of stainless steel, ceramic, or titanium with a coating of hydroxy hepatitis and ceramic materials.
Moreover, the demand for medical implants is increasing across the globe due to the rise in the number of patients suffering from cardiovascular, orthopedic, spinal cord, and dental diseases. The surging demand for implants will boost the growth of the market during the forecast period.
Increased awareness of minimally invasive surgeries will fuel the global coatings market growth for the the industry. Minimally invasive surgery is becoming more popular in hospitals due to its advantages, such as smaller incisions, greater safety, less scarring, and faster recovery. Smaller incisions result in less skin and soft tissue damage, less risk of infection, and less blood loss. It is more comfortable than traditional surgery because the hospital stay is shorter. It takes two weeks to recover from minimally invasive surgery, while recovery from conventional surgery takes six to eight weeks. Minimally invasive surgery is on the rise due to its low cost, low chance of infection, and short recovery time.
Moreover, 3D printing technology in medical devices and implants is gaining importance due to its ability to manufacture devices matched to the patient's anatomy or patient's specific devices. This technology helps the patients to recover fast and decreases inpatient charges. The performance of devices is directly dependent on the functionality of the coatings applied to them. The increasing use of this recent technology is increasing the demand for device coatings to keep the tools, organs, and implants safe from corrosion, bacteria, and microbes, which is expected to boost the growth of the market during the forecast period.
Stringent government regulations are the major challenge to the global coatings market growth for the medical devices. Governments and regulatory agencies impose strict regulations on coatings used in medical devices. Regulations vary by device, with higher-risk devices having stricter regulations. The US FDA has issued several regulations regarding the safety and efficacy of devices and coatings.
Moreover, the medical device industries must fulfill the required regulations to enter the market. In addition, every country has made some rules and regulations for medical device manufacturers to enter the market. These regulations are the major challenge for OEMs to remain in the market. With the increasing number of cases, the regulations for the use of coatings in devices are expected to become more stringent. Thus, stringent regulations imposed on coatings used in devices may impede market growth during the forecast period.
The medical device coating market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Advanced Plating Technologies: The company offers coatings such as biocompatible duplex gold plating and electrolytic and electroless nickel plating for the medical device industry.
The medical device coating market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is a diverse and dynamic sector that caters to a wide range of applications across various medical fields. Key components such as ventilators, catheters, cardiovascular devices, guide wires, sutures, syringes, and mandrels benefit significantly from advanced coatings. One of the critical aspects driving the demand for medical device coatings is the rising geriatric population and the subsequent need for early disease detection. Coatings play a crucial role in enhancing the performance of devices used in non-invasive treatments and ensuring high-quality healthcare standards are met. In the medical sector, coatings are designed to combat pathogens and microbial factors, providing devices with thermal stability, dielectric properties, and dry-film lubricity. These attributes are particularly important in applications related to neurology, orthopedics, general surgery, cardiovascular, dentistry, and gynecology.
The market share growth by the general surgery segment will be significant during the forecast period. The demand for surgeries is rising due to certain driving factors, such as the aging population, increasing birth rate, and advances in medical technologies.
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The general surgery segment was valued at USD 2.50 billion in 2018 and continue to grow by 2022. Increased demand for surgery leads to increased use of medical devices such as forceps, spatulas, retractors, clamps, suction tubes, and needle holders, which are basic requirements for performing surgery. In addition, it uses advanced and expensive surgical instruments and surgical robots that require special coatings. Moreover, in the medical field, various types of devices are used for bariatric surgery, biopsy, cosmetic, endoscopy, gynecology, hernia repair, non-vascular stents, and surgical energy. The increased emphasis on early detection of diseases such as cancer is one of the factors driving the increase in surgical procedures, increasing the demand for coatings on common surgical instruments. Such factors will increase the market growth during the forecast period.
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North America is estimated to contribute 37% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market in this region is expected to grow significantly during the forecast period, owing to rising demand from the medical industry. The aging population, technological advances, and growing awareness of minimally invasive surgery are the major factors driving the market demand in these regions.
North America accounts for the largest share of total medical device sales. Demand for hydrophilic and antimicrobial coatings is expected to increase during the forecast period. Moreover, increased awareness about healthy lifestyles among the population has resulted in people undergoing regular tests and check-ups, which has increased hospital visits and surgeries, thereby increasing the demand for coatings for medical devices in the region. Such factors will increase the market growth in this region during the forecast period.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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Medical device coatings play a crucial role in enhancing the performance and functionality of various medical devices in the healthcare industry. These coatings are applied to ventilators, catheters, cardiovascular devices, guide wires, sutures, syringes, mandrels, stents, and other implantable devices to provide protection against pathogens and microbial factors that contribute to hospital-acquired infections. Antimicrobial coatings are a significant type of medical device coating, which help prevent the growth of bacteria and fungi on the surface of the device. Composite materials, such as carbon fiber, metal, stainless steel, and plastic, are commonly used to manufacture medical devices, and the choice of coating material depends on the specific application and requirements.
Moreover, hydrophilic coatings are widely used in medical devices to improve lubricity and reduce friction, especially in tubes used in neurology, orthopedics, general surgery, cardiovascular, dentistry, gynecology, and cardiometabolic disorders. The coatings also play a vital role in maintaining optical clarity and ensuring the durability and sterilization of devices. Anti-microbial agents, such as silver ions and chlorhexidine, are incorporated into the coatings to prevent healthcare infections, including pneumonia and ventilator-associated infections. Medical device coatings are also used in pacemakers and other implantable devices to improve their biocompatibility and reduce the risk of infection. The market for medical device coatings is expected to grow significantly due to the increasing demand for advanced medical devices in home healthcare markets and the rising incidence of deep vein thrombosis and other cardiovascular conditions. The development of new antimicrobial agents and hydrophilic coatings with improved properties is also driving the growth of the market.
Market Scope |
|
Report Coverage |
Details |
Page number |
181 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.69% |
Market growth 2024-2028 |
USD 5.22 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.81 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 37% |
Key countries |
US, China, Germany, India, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advanced Plating Technologies, Applied Medical Coatings LLC, AST Products Inc., Biocoat Inc., Covalon Technologies Ltd., Endura Coatings, Freudenberg and Co. KG, Harland Medical Systems Inc., HTI Technologies Inc., Hydromer Inc., Katahdin Industries, KISCO Ltd., Koninklijke DSM NV, Materion Corp., Medical Surface Inc., Medicoat AG, Merit Medical Systems Inc., N2 Biomedical LLC, Sono Tek Corp., and Surmodics Inc. |
Market dynamics |
Parent market analysis, market growth analysis , Market forecasting , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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