Download Sample, Increasing Use of Minimally Invasive Surgery to Encourage Market Growth
Although minimally invasive technologies have a higher success rate, the growth can be attributed largely to increased awareness of their usage. The increased prevalence of diseases related to healthcare, such as pneumonia linked to ventilators and urinary tract infections associated with catheters, is also pressuring medical device makers to coat their items with anti-microbial compounds. The increase in the geriatric population, which presents issues for healthcare, as well as the rising demand for implants are other factors linked with the industry's advancement. Additionally, it is anticipated that the demand for medical devices will encourage early disease detection, which will boost the industry's growth throughout the forecast period.
Cardiovascular and urology catheters, short-term implanted devices, and hydrophilic lubricious coatings are the three main trends in the medical device coating industry. Additionally, throughout the forecast period, companies that provide coatings for medical devices may benefit from increasing demand for better healthcare facilities and increased awareness of novel surgeries.
Cardiovascular and urology catheters, short-term implanted devices, and hydrophilic lubricious coatings are the three main trends in the medical device coating industry. Additionally, throughout the forecast period, companies that provide coatings for medical devices may benefit from increasing demand for better healthcare facilities and increased awareness of novel surgeries.
Increased Awareness of Healthcare Associated Infections
Infections related to healthcare are thought to affect more than 3 million people annually in Europe, according to the European Centre for Disease Prevention and Control (ECDC). The CDC also reports that in 2020, at the height of the COVID-19 pandemic, hospital-associated MRSA bacteremia cases increased by 15%, the prevalence of ventilator-associated events increased by 35%, and the incidence of central-line-associated bloodstream infections increased by 24% in U.S. hospitals. The FDA and other regulatory bodies across the world have been emphasizing properly coated medical equipment due to the rising incidence.
In order to increase the safety of the devices, manufacturers are taking action themselves. One such measure is the application of the proper coatings, which promotes market expansion. The pressing need to treat infections linked to implanted medical devices, such as hospital-acquired infections (HAI), is a major driver of the industry's ongoing advancements in medical device coatings. The forecast for the market for medical device coatings is rising due to advancements in the designs of medical equipment used in urology, orthopedics, and neurology.
In order to increase the safety of the devices, manufacturers are taking action themselves. One such measure is the application of the proper coatings, which promotes market expansion. The pressing need to treat infections linked to implanted medical devices, such as hospital-acquired infections (HAI), is a major driver of the industry's ongoing advancements in medical device coatings. The forecast for the market for medical device coatings is rising due to advancements in the designs of medical equipment used in urology, orthopedics, and neurology.
Recent Trends in the Medical Grade Coatings Industry
- Rising demand for biocompatible coatings in medical device applications.
- Nanotechnology integration for enhanced antimicrobial properties.
- Adoption of non-stick coatings to prevent biofilm formation.
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Hydrophilic Coatings Segment to Hold a Sizable Market Share
The market's biggest share is held by the segment of hydrophilic coatings. In order to increase lubricity and lower surface friction, coatings of the hydrophilic kind are used. Furthermore, it is projected that benefits like optical transparency and the capacity to survive maintenance processes like storage, sterility, and cleaning would boost product demand. During the forecast period, it is predicted that the antimicrobial coatings sector will grow quickly. In order to prevent the transmission of disease, antimicrobial coatings are used on surfaces, medical equipment, and items. The demand for antimicrobial coatings in the healthcare industry is anticipated to rise as public awareness of COVID-19 grows. The EPA has certified antimicrobial coating for use in HVAC systems as a safe and effective method of preventing bacteria that produce odors from growing in hospitals, medical equipment, and water filters.
Increased Cost of Raw Materials to Impede Market Growth at Moderate Level
Cost fluctuations for raw materials have a direct influence on the amount it costs to produce coatings. The consistency of these chemicals' pricing helps regulate the overall manufacturing costs of coatings since a variety of chemicals are required to determine the qualities of the substrate on which the coating is to be placed. The price of raw materials like silicone rubber and PTFE is likely to rise, which would reduce consumer demand for the product. Medical coating manufacturing involves significant up-front and ongoing expenditures.
There are many outdated or expired patents, and medical coating companies are not allowed to create new coatings based on older patents in order to avoid paying royalties. Therefore, upfront payments are expected in order to utilize outdated technologies. The market's expansion is probably going to be hampered by this. A boom of technical advancements is predicted to result from the elimination of all initial costs and difficulties. Modern coatings for medical items require complex legal procedures, negotiation of non-disclosure agreements, and other expenses.
Biocoat Inc., a producer of hydrophilic biomaterial coatings and coating tools for medical and device applications, announced its entry into the hydrophilic dip coating market in April 2022. In order to coat medical devices, the company is planning to design, develop, and deploy the dip coating technology.
In March 2022, The Discreet Bioresorbable Coating Technology, which is utilized with the SLENDER IDS and DIRECT RX Bioresorbable Coated Drug-Eluting Stent (DES) Systems, was developed in collaboration between Svelte Medical Systems and DSM Biomedical, two significant companies in the biomaterials sector.
May 2021 saw the announcement from Hydromer that it has been chosen as Avinger Inc.'s top coatings and services partner. Its coatings are specifically chosen for the catheter-based, intravascular image guidance systems for the diagnosis and treatment of patients with peripheral artery disease (PAD).
A prominent provider of surface modification and drug delivery, Surmodics, got the CE mark in June 2020 for its Abbott-backed paclitaxel-coated balloon, which is used in peripheral artery disease treatment procedures. Through a contract with Surmodics, Abbott obtained the rights to commercialize SurVeil around the world.
AeonClad Coatings LLC, Allvivo Vascular Inc., Armology of Connecticut Inc., AdvanSource Biomaterials Corporation, AST Products Inc., Biocoat Inc., Hemoteq AG, Hydromer Inc., Materion Corp., Carmeda AB, Covalon Technologies Ltd., Royal DSM N.V (DSM Corporation) are some of the prominent market players operating in the global medical grade coatings market.
There are many outdated or expired patents, and medical coating companies are not allowed to create new coatings based on older patents in order to avoid paying royalties. Therefore, upfront payments are expected in order to utilize outdated technologies. The market's expansion is probably going to be hampered by this. A boom of technical advancements is predicted to result from the elimination of all initial costs and difficulties. Modern coatings for medical items require complex legal procedures, negotiation of non-disclosure agreements, and other expenses.
Biocoat Inc., a producer of hydrophilic biomaterial coatings and coating tools for medical and device applications, announced its entry into the hydrophilic dip coating market in April 2022. In order to coat medical devices, the company is planning to design, develop, and deploy the dip coating technology.
In March 2022, The Discreet Bioresorbable Coating Technology, which is utilized with the SLENDER IDS and DIRECT RX Bioresorbable Coated Drug-Eluting Stent (DES) Systems, was developed in collaboration between Svelte Medical Systems and DSM Biomedical, two significant companies in the biomaterials sector.
May 2021 saw the announcement from Hydromer that it has been chosen as Avinger Inc.'s top coatings and services partner. Its coatings are specifically chosen for the catheter-based, intravascular image guidance systems for the diagnosis and treatment of patients with peripheral artery disease (PAD).
A prominent provider of surface modification and drug delivery, Surmodics, got the CE mark in June 2020 for its Abbott-backed paclitaxel-coated balloon, which is used in peripheral artery disease treatment procedures. Through a contract with Surmodics, Abbott obtained the rights to commercialize SurVeil around the world.
AeonClad Coatings LLC, Allvivo Vascular Inc., Armology of Connecticut Inc., AdvanSource Biomaterials Corporation, AST Products Inc., Biocoat Inc., Hemoteq AG, Hydromer Inc., Materion Corp., Carmeda AB, Covalon Technologies Ltd., Royal DSM N.V (DSM Corporation) are some of the prominent market players operating in the global medical grade coatings market.
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North America Region Holds Sizable Share in Medical Grade Coatings Market
The demand for the product is anticipated to increase in the upcoming years due to the high penetration and rising medical infrastructure of advanced surgical treatments in the United States. The United States is a key market for medical devices and is home to several medical R&D centers, which helps to fuel industry expansion. Due to increased rates of obesity, heart disease, and a geriatric population, Europe is anticipated to have a sizable medical coatings market value throughout the forecast period. Additionally, throughout the forecast period, the U.K. and Germany are expected to grow the European market and increase the adoption of medical coatings products. The medical device industry in Germany is the third largest in the world and the largest in Europe. The medical sector is expected to offer new technology as it continues to expand.
The market share for medical coatings in Asia Pacific is anticipated to expand at the fastest rate over the forecast period. This is a result of rising healthcare expenditures in China and India. Due to rising demand in the area of medical coating sector, China and India are the major manufacturers of medical devices in the Asia Pacific region. The region's medical device coating market is being driven by rising patient awareness of minimally invasive surgery. In addition, it is anticipated that emerging markets will play a role in some of the global market's growth, particularly in China and India. Future demand for better medical facilities is anticipated to rise even more as interest in people's health and well-being increases together with disposable income.
The market share for medical coatings in Asia Pacific is anticipated to expand at the fastest rate over the forecast period. This is a result of rising healthcare expenditures in China and India. Due to rising demand in the area of medical coating sector, China and India are the major manufacturers of medical devices in the Asia Pacific region. The region's medical device coating market is being driven by rising patient awareness of minimally invasive surgery. In addition, it is anticipated that emerging markets will play a role in some of the global market's growth, particularly in China and India. Future demand for better medical facilities is anticipated to rise even more as interest in people's health and well-being increases together with disposable income.
The report provides a detailed overview of the medical grade coatings market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for the medical grade coatings market has been offered for all regional market shares, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the medical-grade coatings market. These Y-o-Y projections on regional and country-level markets brighten the political, economic, and business environment outlook, which are anticipated to have a substantial impact on the growth of the medical-grade coatings market. Some key countries and regions included in the medical grade coatings market report are as follows:
| North America | United States, Canada |
| Latin America | Brazil, Mexico, Argentina, Colombia, Chile, Rest of Latin America |
| Europe | Germany, United Kingdom, France, Italy, Spain, Russia, Netherlands, Switzerland, Belgium, Sweden, Austria, Norway, Denmark, Finland, Ireland, Czech Republic, Rest of Europe |
| Asia Pacific | China, India, Japan, South Korea, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia Pacific |
| Middle East and Africa | GCC Countries, South Africa, Egypt, Turkey, Morocco, Israel, Iran, Kenya, Nigeria, Rest of MEA |
Medical Grade Coatings Market Research Report Covers In-depth Analysis on:
- Medical grade coatings market detailed segments and segment-wise market breakdown
- Medical grade coatings market dynamics (Recent industry trends, drivers, restraints, growth potential, opportunities in medical grade coatings industry)
- Current, historical, and forthcoming 10 years market valuation in terms of medical grade coatings market size (US$ Mn), volume (Tons), share (%), Y-o-Y growth rate, CAGR (%) analysis
- Medical grade coatings market demand analysis
- Medical grade coatings market pricing analysis over the forecast period (by key segment and by region)
- Medical grade coatings market regional insights with a region-wise market breakdown
- Competitive analysis – key companies profiling including their market share, product offerings, and competitive strategies.
- Latest developments and innovations in the medical-grade coatings market
- Regulatory landscape by key regions and key countries
- Supply chain and value chain analysis in the medical grade coatings market
- Medical grade coatings market sales and distribution strategies
- A comprehensive overview of the parent market
- A detailed viewpoint on the medical grade coatings market forecast by countries
- Mergers and acquisitions in the medical grade coatings market
- Essential information to enhance market position
- Robust research methodology
- Frequently Asked Questions -
Which industries benefit from medical grade coatings?
The healthcare, pharmaceutical, and biotechnology industries primarily benefit from medical grade coatings, as they enhance the performance and safety of medical devices, implants, and drug delivery systems.
How do advancements in technology affect the medical grade coatings market?
Technological advancements drive the development of more effective coatings that improve device longevity, reduce patient risks, and enhance the functionality of medical devices, fueling market demand for innovative solutions.
What factors are driving the demand for medical grade coatings?
Factors like the growing aging population, increasing chronic diseases, technological advancements in medical devices, and rising awareness of infection prevention are key drivers for the demand for medical grade coatings.
