The latest research study “Medical Device Coatings Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global medical device coatings market size reached US$ 8.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.9 Billion by 2028, exhibiting a growth rate (CAGR) of 7.62% during 2023-2028.
Medical device coatings (MDCs) enhance the performance and maneuverability of medical devices, such as gynecology, cardiovascular, orthopedic, dental implants, and surgical devices. They help maintain sharp edges on cutting instruments while reducing galling between sliding components, increasing lubricity, and improving wear resistance. They also resist the bacteria on medical devices, which can be used on several patients without risking new infections and help avoid allergenic substances. They offer numerous functional benefits, such as anti-fouling in the presence of blood and tissue, anti-glare surfaces for bright operating rooms, and antimicrobial properties. As a result, medical device coatings are gaining immense traction across the healthcare industry.
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Medical Device Coatings Market Trends and Drivers:
The global medical device coatings market is primarily driven by the rising prevalence of hospital-acquired infections (HAIs) due to contaminated medical instruments. Moreover, the increasing applications of implantable medical devices, such as cardiac pacemakers, interocular lenses, implantable cardiac defibrillators (ICDs), coronary stents, hip implants, and implantable insulin pumps, to save the life of patients is positively influencing the market growth.
Additionally, there has been widespread adoption of minimally invasive (MI) medical devices with proper coatings to protect patients from thrombogenicity, blood vessel damage, and other internal traumas. In line with this, the easy availability of novel medical equipment has escalated product demand. Besides this, extensive government investments in the healthcare industry are contributing to market growth.
Other factors, including the increasing awareness regarding the advancement of medical treatments, rising hospitalization rates, recent coronavirus disease (COVID-19) outbreak, and product innovations, are also anticipated to create a favorable market outlook.
Global Medical Device Coatings Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
The report has segmented the market on the basis of region, product, material and application.
Breakup by Product:
- Hydrophilic Coatings
- Antimicrobial Coatings
- Drug-Eluting Coatings
- Anti-Thrombogenic Coatings
- Others
Breakup by Material:
- Metals
- Silver
- Titanium
- Others
- Ceramics
- Polymers
- Silicone
- Parylene
- Fluoropolymers
Breakup by Application:
- Neurology
- Orthopedics
- General Surgery
- Cardiovascular
- Dentistry
- Gynecology
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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