NEW YORK, Oct. 17, 2024 /PRNewswire/ — Report with market evolution powered by AI – The Global Medical Coatings Market size is estimated to grow by USD 5.07 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.7% during the forecast period. Growing geriatric population is driving market growth, with a trend towards technological advancements in medical coatings. However, stringent government regulations poses a challenge – Key market players include Advanced Plating Technologies, Applied Medical Coatings LLC, AST Products Inc., Biocoat Inc., Covalon Technologies Ltd., Endura Coatings, Formacoat LLC, Freudenberg and Co. KG, Harland Medical Systems Inc., Hydromer Inc., Katahdin Industries, KISCO Ltd., Koninklijke DSM NV, Materion Corp., Medicoat AG, Merit Medical Systems Inc., Miller Stephenson Inc., Para-Coat Technologies Inc., Surgical Coatings LLC, and Surmodics Inc..
Technavio has announced its latest market research report titled Global Medical Coatings Market 2024-2028
AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now
|
Forecast period |
2024-2028 |
|
Base Year |
2023 |
|
Historic Data |
2018 – 2022 |
|
Segment Covered |
Application (Medical equipment, Medical implants, and Others), Material (Polymers and Metals), Type (Passive and Active), and Geography (North America, Europe, APAC, South America, and Middle East and Africa) |
|
Region Covered |
North America, Europe, APAC, South America, and Middle East and Africa |
|
Key companies profiled |
Advanced Plating Technologies, Applied Medical Coatings LLC, AST Products Inc., Biocoat Inc., Covalon Technologies Ltd., Endura Coatings, Formacoat LLC, Freudenberg and Co. KG, Harland Medical Systems Inc., Hydromer Inc., Katahdin Industries, KISCO Ltd., Koninklijke DSM NV, Materion Corp., Medicoat AG, Merit Medical Systems Inc., Miller Stephenson Inc., Para-Coat Technologies Inc., Surgical Coatings LLC, and Surmodics Inc. |
Key Market Trends Fueling Growth
The medical coatings market is witnessing significant advancements as researchers, surgeons, and Original Equipment Manufacturers (OEMs) explore the effectiveness of various medical coatings. Notable developments include hydroxyapatite biocompatible coatings for orthopedic implants, lubricious coatings for guidewires, drug-eluting coatings for stents, and antimicrobial coatings for catheters. Leading vendors, such as Biocoat Inc., provide advanced coating technologies like HYDAK hydrophilic coatings for neurovascular, cardiovascular, peripheral vascular, and ophthalmology applications. Single-layer coated formulations, which reduce particulate generation and offer superior lubricity compared to former hydrophilic coatings, are increasingly popular. Innovative coating deposition techniques, such as laser treatment, low-temperature atmospheric plasma, and microblasting, are being developed for bioactive coatings on medical devices. These technological advancements are expected to fuel the growth of the global medical coatings market.
The Medical Coatings Market is experiencing significant growth due to increasing trends in cardiac pacemakers and cardiovascular devices. These devices often utilize drug-eluting coatings to improve patient outcomes. With the rising prevalence of cardiovascular diseases (CVDs) in the geriatric population and unhealthy diets, the demand for advanced medical coatings is increasing. Key areas of focus include improving the thermal stability and dielectric properties of coatings for CPUs, graphics cards, chipsets, hard disks, and other electronic components. In healthcare, there is a growing concern for Hospital-Acquired Infections (HAIs) and Contaminated devices. Antimicrobial coatings made of carbon fiber, metal, stainless steel, and plastic are gaining popularity due to their antimicrobial properties. Moreover, non-invasive treatments and high-quality healthcare are driving the need for hydrophilic coatings in disease detection and guide wires, sutures, syringes, mandrels, and catheters. The market is also witnessing an increase in demand for antimicrobial coatings to prevent friction-related infections such as pneumonia and Ventilator-associated pneumonia (VAP). Royalties from these medical coatings are expected to continue growing as the market expands, with ventilators and catheters being major contributors. The market is expected to remain competitive as companies focus on developing coatings with superior antimicrobial properties to combat pathogens and microbial factors.
Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!
Market Challenges
Medical coatings play a crucial role in critical healthcare application processes, necessitating strict regulatory oversight. In the EU and US, regulatory bodies have implemented policies to ensure medical devices using biocompatible coatings meet safety and performance standards. For instance, the Active Implantable Medical Devices Directive regulates high-risk devices, while the US FDA has various clearance and approval processes. Medical coating manufacturers must adhere to these regulations due to the high risks involved. However, separation issues, such as peeling, flaking, shedding, and delamination, pose challenges. The US FDA has analyzed the impact of coatings separation from intravascular medical devices. These regulations present hurdles for vendors, and the increasing number of separation issues may lead to more stringent regulations, potentially hindering market growth during the forecast period.
The Medical Coatings Market faces several challenges in catering to the healthcare industry. Devices such as ventilators, catheters, cardiovascular devices, guide wires, sutures, syringes, mandrels, and disease detection equipment require coatings for improved performance and patient safety. These coatings must offer high thermal stability, good dielectric properties, and dry-film lubricity. However, the presence of pathogens and microbial factors necessitates the use of antimicrobial coatings. The risk of Hospital-acquired Infections (HAIs) and Contaminated devices is a significant concern. Carbon fiber, metal, stainless steel, and plastic are common substrates for these coatings. Antimicrobial properties are crucial for preventing infections like pneumonia and Ventilator-associated pneumonia. Hydrophilic coatings are popular for reducing friction and improving wettability in pacemakers and tubes. Optical clarity, durability, and lubricity are essential for coatings used in neurology, orthopedics, general surgery, cardiovascular, dentistry, and gynecology. Sterilization, storage, and cleaning procedures also impact the performance of medical coatings. Coatings must withstand these processes without compromising their properties. Overall, the medical coatings market must address these challenges to ensure high-quality healthcare and patient safety.
Insights into how AI is reshaping industries and driving growth- Download a Sample Report
Segment Overview
This medical coatings market report extensively covers market segmentation by
Application
1.1 Medical equipment
1.2 Medical implants
1.3 Others
Material
2.1 Polymers
2.2 Metals
Type
3.1 Passive
3.2 Active
Geography
4.1 North America
4.2 Europe
4.3 APAC
4.4 South America
4.5 Middle East and Africa
1.1 Medical equipment- The Medical Coatings Market is experiencing steady growth due to increasing demand for advanced medical devices and implants. These coatings enhance the durability and biocompatibility of medical equipment, ensuring better patient outcomes. Key players in this market include 3M, PPG Industries, and Axalta Coating Systems, who invest in research and development to offer innovative solutions. The market’s growth is driven by factors like aging population, rising healthcare expenditures, and technological advancements.
Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)
Research Analysis
The Medical Coatings Market encompasses a wide range of applications in the healthcare industry, including ventilators, catheters, cardiovascular devices, guide wires, sutures, syringes, mandrels, and tubes. These medical devices require high-quality coatings to ensure optimal performance and patient safety. Coatings for medical devices must exhibit excellent thermal stability, dielectric properties, and dry-film lubricity. They must also possess antimicrobial properties to prevent Hospital-acquired Infections (HAIs) caused by pathogens and microbial factors. Additionally, coatings for medical devices must be resilient to sterilization, storage, and cleaning processes. Non-invasive treatments, such as those for neurology and orthopedics, also benefit from coatings with specific properties, including optical clarity, durability, lubricity, wettability, and biocompatibility. Coatings play a crucial role in ensuring the functionality and safety of medical devices, contributing to the overall goal of delivering high-quality healthcare.
Market Research Overview
The Medical Coatings Market encompasses a wide range of coatings used in various medical devices and applications. These coatings enhance the performance, durability, and biocompatibility of devices used in ventilators, catheters, cardiovascular devices, guide wires, sutures, syringes, mandrels, and more. The focus on high-quality healthcare has led to the development of coatings with antimicrobial properties to combat pathogens and microbial factors, reducing Hospital-acquired Infections (HAIs) and Contaminated devices. Coatings for disease detection and non-invasive treatments offer improved thermal stability, dielectric properties, dry-film lubricity, and hydrophilic properties. Materials used include carbon fiber, metal, stainless steel, and plastic. Coatings are used in various medical fields such as neurology, orthopedics, general surgery, cardiovascular, dentistry, gynecology, and cardiac pacemakers. Drug-eluting coatings are also used in the treatment of Cardiovascular Diseases (CVDs) in the geriatric population, who are more susceptible due to unhealthy diets and other factors. The market for medical coatings is expected to grow significantly due to the increasing demand for advanced medical devices and the need to reduce HAIs and HCAIs.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Application
Medical Equipment
Medical Implants
Others
Material
Polymers
Metals
Type
Passive
Active
Geography
North America
Europe
APAC
South America
Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?
440k+Newsrooms &Influencers
9k+Digital MediaOutlets
270k+JournalistsOpted In