Austin, Sept. 23, 2024 (GLOBE NEWSWIRE) -- According to SNS Insider, The Medical Device Coating Market size is projected to reach USD 27.6 billion by 2032 and grow at a CAGR of 7.9% over the forecast period of 2024-2032.
The market is being propelled by an interesting set of trends and factors plaguing the medical device coating market. One of the major factors fueling market growth is the growing need for biocompatible coatings that improve device/tissue interaction to keep patients safe and comfortable. Advances in Technology, Specifically Nanotechnology and Smart Coatings, Redefine Product Performance Metrics & Application Landscape Moreover, the increase in chronic diseases such as diabetes and cardiovascular complications has been augmenting the requirement for more specific devices leading to advanced coatings.
Antimicrobial coatings that reduce the risk of exposure to hospital-acquired infections have become increasingly sought-after, given the increased emphasis on infection prevention in recent years. The high-performance coatings enable manufacturers to meet stringent regulatory compliance and quality standards, thereby they are inclined towards investing in high-quality solutions. Minimally invasive procedures are creating a growing need for custom-coating applications in non-stick coatings to provide higher yields on detection-based devices, while patient-friendly demand is increasing the development of tailored coatings to address unique patient requirements.
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Key Players:
- Infinita Biotech Pvt. Ltd.
- Boston Scientific (Bard® Stent System, Antibacterial Coating Technologies)
- Abbott Laboratories (Xience® Drug-Eluting Stents, FreeStyle® Libre Sensor)
- SurModics Inc., (Hydrophilic Coatings, Drug-Eluting Balloon Technology)
- Biocoat Inc. (HydroSoft® Coating, HydroSleek® Coating)
- AdvanSource Biomaterials (Bioresorbable Coatings, Hydrophilic Coatings)
- DSM (Akulon® Coating, BioCare® Coating)
- Precision Coating Company, Inc. (PTFE Coatings, Hydrophilic Coatings)
- Harland Medical Systems (UltraCoat® Coating, Hydrophilic Coating Solutions)
- Advanced Polymer Coatings (Anti-Corrosive Coatings, Biocompatible Coatings)
- Axalta Coating Systems
- Specialty Coating Systems (Parylene Coatings, Biocompatible Coatings)
- Hydromer Inc. (Hydrophilic Coatings, Antimicrobial Coatings)
- Covalon Technologies Ltd. (IvaMed® Coating, MicrobeCare® Coating)
- Acelity L.P. Inc. (KCI® Wound Dressings, Advanced Dressings with Coatings)
- Medline Industries, Inc. (SilverCoat® Technology, Antimicrobial Coated Devices)
- Hernia Repair Products, Inc. (Surgical Mesh with Coatings, Biodegradable Mesh)
- Trelleborg Sealing Solutions (Medical Grade Seals with Coatings, Silicone Coatings)
- Materion Corp.
- Sono-Tek Corp
What are the Growth Factors of the Medical Device Coating Market?
An increase in the demand for biocompatibility has been observed over the years regarding medical device coatings due to its main aim to support patient safety and comfort during medical procedures. These coatings, which can also be further optimized to actively promote compatibility with human tissues, are necessary for devices such as implants, catheters, and surgical tools in order to prevent inflammation or rejection. The key advancements in this field include the integrated development of bioinspired and synthetic polymers to coat devices with characteristics similar to those of native tissues.
For instance, in 2022, Abbott introduced a more advanced coating for heart devices that is designed to be made from bioresorbable materials such that the tissue (side) integration reduces the remote second complications.
In 2023, researchers from the University of Cambridge went a step beyond biofunctionality by developing a nanostructured coating for medical devices that do more than simply enhance biocompatibility-they can kill bacteria, combat infection (another common problem for patients with medical implants and diagnostic devices), as well vector patient-specific drugs.
Which segment of the medical device coating market is estimated to be the fastest growing in coating type?
Hydrophilic Coatings fastest growing segment and grow at the highest CAGR over the forecast year. because of their huge benefit in enabling device performance and improving patients’ lives. These hydrophilic coatings function by attracting water onto the surface, providing a lubricious surface that decreases the amount of friction needed to insert and guide devices through the body. This is especially critical in applications like catheters and guidewires where usability and sensory integrity are key. The increasing demand for hydrophilic coatings, in turn, is expected to reduce the potential risk of tissue trauma and procedural complications and intends to improve patient safety.
Medical Device Coating Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 13.9 Bn |
| Market Size by 2031 | US$ 27.6 Bn |
| CAGR | CAGR of 7.9% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Drivers | • Increasing demand for minimally invasive surgeries drives the market growth. • Rising prevalence of chronic diseases |
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Do you know which application segment led the medical device coating market in 2023?
Based on the application segment cardiovascular held the largest market share around 27.5%in 2023. The increasing number of patients who require cardiovascular devices such as stents, catheters, or pacemakers due to conditions like coronary artery disease, hypertension, and heart failure is escalating. Optimal devices for this application are those that must be biocompatible in the challenging environment of the cardiovascular system where long-term use is desirable; coatings for reducing thrombosis risk, and to optimize overall performance in such a dynamic environment. Innovations like Drug-eluting stents which use coatings to deliver restenosis-preventing therapeutic agents, are changing the game for better patient care.
Key Segments:
By Coating Type
- Antimicrobial Coatings
- Hydrophilic Coatings
- Anti-thrombogenic Coatings
- Drug-eluting Coatings
- Others
By Product
- Implants
- Catheters
- Electrosurgical Instruments
- Stents
- Others
By Material
- Metallic and Non-metallic
By Application
- Neurology
- General Surgery
- Cardiovascular
- Orthopedics
- Gynecology
- Dentistry
- Others
Which region is estimated the highest growth in the medical device coating market?
North America held the largest market share around 42% in 2023. Because it has a strong healthcare infrastructure, higher healthcare spending, and significant investments in new medical technology. The area is also home to a number of well-established companies in the medical device segments, and a significant pool of talent with experience in developing and bringing forward advanced coatings solutions. Furthermore, the strict regulations applied to the country also make sure that only top-of-the-line protective coatings are utilized in medical devices thus pushing manufacturers into investing in novel solutions. Moreover, the growing emphasis on patient-centric healthcare solutions and the trend toward minimally invasive procedures contribute to the expansion of the medical device coating market in North America. With ongoing research and development efforts and a strong pipeline of new technologies, the region is expected to maintain its leadership position in the market for the foreseeable future.
Recent Developments
- In 2023, B. Braun released a hydrophilic coating for its catheter products that enhances lubricity and minimizes friction during insertion, improving patient comfort and reducing trauma.
- In 2023, Coviden introduced a new series of coated sutures that utilize advanced polymer technology to enhance biocompatibility and support faster healing processes in surgical procedures.
- In 2022, Fujifilm launched a coating for its endoscopic devices that incorporates bioactive glass, promoting healing and reducing infection risks in gastrointestinal applications.
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Key Takeaways:
- The market is expanding significantly, driven by increasing demand for advanced medical devices and coatings.
- There is a strong emphasis on biocompatible coatings to enhance patient safety and comfort.
- Advancements in coating technologies, such as hydrophilic and antimicrobial coatings, are improving device performance.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Medical Device Coating Market Segmentation, by Coating Type
8. Medical Device Coating Market Segmentation, by Product
9. Medical Device Coating Market Segmentation, by Material
10. Medical Device Coating Market Segmentation, By Application
11. Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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