Introduction of the Medical Coatings Market Report

Medical coatings are used to strengthen the capabilities of medical products, release drugs, make implanted devices more visible to imaging system, protect medical devices from electromagnetic interferences, and offer dry-film lubricity and electrical insulation to medical equipment. The medical coating available in different types including lubricants, anti-microbial liquids, and water repellent polymers, used on devices utilized at every phase of medical procedure, from basic check-ups to surgeries and clinical tests.

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Market Dynamic

Key Drivers and Emerging Trends

Rise in the growth of the healthcare industry, rising geriatric population, availability of home healthcare facilities coupled with the continuous advancement in the field of medical treatment and surgical procedures are some of the factors driving the growth of the medical coating market share. Additionally, the medical coatings help in enhancing the performance and of medical device such as cardiovascular devices, sutures, guide wires, stents, and ventilators; protect them from microbes and other pathogens; provide thermal stability and dielectric properties. This is further expected to boost the market growth.

Moreover, the outbreak of COVID 19 pandemic has further stimulated the rise in the expenditure for the production and development of medical tools and devices including PPE kits, containers for intravenous injections, disinfectants, sterilization devices, and transport ventilators. This is anticipated to contribute to the increase in the demand of medical coatings. Furthermore, according to the World Bank, the healthcare expenditure is around 9.8% of the world GDP in 2018.  Increasing focus towards the advancements of medical devices used in treatment, diagnosis, and prevention of diseases and physical conditions of patients is expected to provide growth opportunities to the medical coatings market over the forecast period.

Restraint in the Medical Coatings Market

However, the high manufacturing costs and increasing prices of raw material prices such as silicone rubber and PTFE is expected to restraint the growth of the medical coating market size. In addition, low shelf life of medical coatings and the time consuming regulatory approval may further hinder the market growth over the forecast period.

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Chemistry – Segment Analysis

Based on the chemistry, the silicon segment is expected to grow substantially over the forecast period owing to the increasing use of silicon based coatings syringes, needles, cannulas, and catheters to prevent subcutaneous tissue irritation. Additionally, development of organic silicon to prevent microbial and fungal adhesion and protection against corrosion.

Type – Segment Analysis

Based on the type, the anti-microbial coating segment is anticipated to account for a prominent market share over the forecast period. This can be attributed to the rising application of anti-microbial coatings in preventing the growth and spread of fungi, mold, and bacteria on medical instruments; enhancing the hygiene in the healthcare facilities; and in minimizing the terrible odours, staining, and degradation of material.

Application – Segment Analysis

Based on the application, the medical devices segment is projected to hold a significant share in the market owing to rise in the number of healthcare facilities, increasing prevalence of chronic diseases, and growing demand for medical devices including respirators, catheters, positive pressure breathing devices, in-vitro diagnostic devices, guidewires, endotracheal tubes, cannulas, ventilator accessories, infusion pumps, and other devices.

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Regional – Segment Analysis:

Based on region, North America is expected to account for a large share in the medical coatings market primarily due to the rising elderly population, high inclination of the government towards the improvement of healthcare services, and increasing demand of better healthcare facilities among consumers. According to the U.S. Centres for Medicare & Medicaid Services (CMS), U.S. health care spending grew 4.6% in 2019, reaching $3.8 trillion and the health spending accounted for 17.7% of the nation’s Gross Domestic Product. This is further expected to support the market growth of medical coatings in the region.

Top Market Players

Several Leading players operating in the market, include, Koninklijke DSM N.V., AST Products, Inc., Hydromer Inc., Precision Coating Company, Inc., Covalon Technologies Ltd., Harland Medical Systems, Inc.,  Medicoat AG, Merit Medical Systems, Inc., Surmodics Inc., and Biocoat, Inc. among others. 

Key Developments: 

• • In 2020, Biocoat, Inc., a manufacturer of hydrophilic biomaterial coatings for medical devices, launched of HYDAK UV, a new version of its original HYDAK coating designed to be cured using ultraviolet (UV) light. The HYDAK UV coating is built on the bi-laminar platform that is used in Biocoat’s thermal heat cure coating technology.

Segments covered in the Report:

The global Medical Coatings Market has been segmented on the basis of chemistry, type, application, and key regions. Based on chemistry, the market is segmented into silicon, fluoropolymer, parylene, and others. Based on type, the market is segmented into anti-microbial coating, hydrophilic coating, drug-eluting coating, anti-thrombogenic coating, and others. Based on application, the market is segmented into medical devices, medical implants, medical equipment and tools, and others. 

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Key questions answered in this research report:

• • At what pace is global Medical Coatings Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Medical Coatings Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Medical Coatings Market?
  • Which type generated maximum revenues in 2019 and identify the most promising type during the forecast period?
  • What are the various applications of global Medical Coatings Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Chemistry, By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Koninklijke DSM N.V., AST Products, Inc., Hydromer Inc., Precision Coating Company, Inc., Covalon Technologies Ltd., Harland Medical Systems, Inc., Medicoat AG, Merit Medical Systems, Inc., Surmodics Inc., and Biocoat, Inc. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Medical Coatings Market by Chemistry

• • Silicon
  • Fluoropolymer
  • Parylene
  • Others

Global Medical Coatings Market by Type

• • Anti-Microbial Coating
  • Hydrophilic Coating
  • Drug-Eluting Coating
  • Anti-Thrombogenic Coating
  • Others

Global Medical Coatings Market by Application

• • Medical Devices
  • Medical Implants
  • Medical Equipment and Tools
  • Others

Global Medical Coatings Market by Region

• • North America Medical Coatings Market (Option 1: As a part of the free 25% customization)
    • North America Market by Chemistry
    • North America Market by Type
    • North America Market by Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Medical Coatings Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Chemistry
    • Europe Market by Type
    • Europe Market by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Medical Coatings Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Chemistry
    • Asia-Pacific Market by Type
    • Asia-Pacific Market by Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Medical Coatings Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Chemistry
    • RoW Market by Type
    • RoW Market by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Medical Coatings Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Koninklijke DSM N.V.
  • AST Products, Inc.
  • Hydromer Inc. 
  • Precision Coating Company, Inc.
  • Covalon Technologies Ltd.
  • Harland Medical Systems, Inc.
  • Medicoat AG
  • Merit Medical Systems, Inc.
  • Surmodics Inc.
  • Biocoat, Inc.