Medical Device Coatings Market: Introduction
Transparency Market Research delivers key insights on the global medical device coatings market. In terms of revenue, the global medical device coatings market is estimated to expand at a CAGR of 19.4% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecast in its report on the global medical device coatings market.
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The global medical device coatings market is broadly affected by several factors, including increase in usage of medical device coatings in various applications such as neurology, orthopedics, general surgery, cardiovascular, dentistry, and gynecology. The rise in global demand for general surgery devices and cardiovascular devices has led to significant growth in the usage of medical device coatings. Increase in production and demand for general surgery equipment is expected to be the primary driver of the global medical device coatings market.
Medical Device Coatings Market: Dynamics
Medical device coatings are widely used on modern medical instruments, tools, accessories, and equipment. 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. Medical device coatings is also used to improve cleanliness in healthcare facilities. These coatings are employed in catheters, surgical instruments, implantable devices, contact lenses, and many other medical devices and instruments.
The global general surgery application segment is expected to expand considerably during the forecast period. Thus, rise in production of neurology, general surgery, and cardiovascular devices is projected to boost the demand for medical device coatings during the forecast period.
Manufacturers are focusing on the general surgery segment, as the share held by this segment in the medical device coatings market is likely to increase during the forecast period.
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Medical Device Coatings Market: Prominent Regions
North America holds major share of the global medical device coatings market. The market in the region is anticipated to expand at a CAGR of more than 21% during the forecast period. Increase in demand for medical device coatings in various applications such as neurology, general surgery, and cardiovascular is driving the medical device coatings market in North America. The U.S. is a key country in the medical device coatings market in North America. It held significant share of the medical device coatings market in North America in 2020. The country is projected to maintain its dominant position in the region during the forecast period.
Europe is also a prominent region of the global medical device coatings market. Germany led the medical device coatings market in Europe in 2020. Increase in demand for medical device coatings in general surgery and cardiovascular devices is driving the market in Germany.
Medical Device Coatings Market: Major Players
The global medical device coatings market is consolidated with the presence of key players. Prominent players operating in the global medical device coatings market Royal DSM, Surmodics, Inc., PPG Industries, Inc. Sono-Tek Corporation, Materion Corporation Hydromer Inc., Precision Coating Company, Inc., Freudenberg Medical, AST Products, Inc., Biocoat Incorporated, Covalon Technologies Ltd., Harland Medical Systems, Specialty Coating Systems Inc., Medical Surface Inc., Merit Medical Systems, Inc., Medicoat, and Allvivo Vascular, Inc.
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Global Medical Device Coatings Market: Segmentation
Medical Device Coatings Market, by Type
- Hydrophilic Coatings
- Antimicrobial Coatings
- Drug-eluting Coatings
- Anti-thrombogenic Coatings
- Others (including Hydrophobic and Anti-clotting)
Medical Device Coatings Market, by Chemistry
- Others (including FEP and PFA)
Medical Device Coatings Market, by Substrate
- Others (including PEEK and Polyethylene)
- Stainless Steel
- Others (including Platinum and Nickel)
Medical Device Coatings Market, by Application
- General Surgery
- Others (including Ophthalmology and Endocrine Surgery)
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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