NEW YORK, United States, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Medical Grade Coatings Market - By Formulation (Powder Coating, Water Based, And Solvent Based. Drug Eluting, Anti-Microbial, Hydrophobic, Hydrophilic, And Others), By Type (Drug Eluting, Anti-Microbial, Hydrophobic, Hydrophilic, And Others), By Material (Metals, Parylene, Silicone, Pvdf, Ptfe, And Others), By Application (Dentistry, Gynecology, Neurology, Orthopedics, Cardiovascular, General Surgery, And Others) And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2023 - 2030” in its research database.
“According to the latest research study, the global medical grade coatings market size was valued at approximately USD 6.44 Billion in 2022. The market is expected to grow above a CAGR of 7.71% and is anticipated to reach over USD 10.83 Billion by 2030.”
Medical Grade Coatings Market Overview:
Medical grade coatings are the several coatings specified by the manufacturers of the medical devices that provide anti-microbial surfaces & electrical insulation, lower friction, and many other enhancements of the function of a surface of a medical device. The medical grade coatings strengthen the abilities of medical devices and add biocompatibility & lubricity action to the surfaces of the medical device.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historic and Forecast Growth, Porter's 5 Forces Analysis
- Zion Market Research Methodology
Report Scope:
| Report Attribute | Report Details |
| Medical Grade Coatings Market Size in 2022 | USD 6.44 Billion |
| Medical Grade Coatings Market Forecast in 2030 | USD 10.83 Billion |
| Compound Annual Growth Rate (CAGR) | 7.71% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Medtronic PLC, Medicoat Inc., Hydromer Inc., Harland Medical Systems Inc., Covalon Technologies Ltd., Biocoat Inc., Precision Coating Co. Inc., Speciality Coating Systems Inc., SurModics Inc., Koninklijke DSM NV |
| Segments Covered | By Formulation, By Type, By Application, And By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Key Insights from Primary Research
- The rise in the use of polymer-based medical coatings for medical implants, protective covering, medical equipment, and medical devices are driving the global medical grade coatings market.
- The report analyzes the global Medical Grade Coatings Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Medical Grade Coatings Industry.
- Key market participants often invest between 5 and 7% of their annual revenues in research and development activities. This is done so that they may remain current with developing trends in the industry.
- On the basis of region, the “North America” will likely overtake the global market with a growing emphasis on healthcare research.
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Global Medical Grade Coatings Market: Growth Factors
The global medical grade coatings market is growing at a speedy rate. Factors such as the rise in the geriatric population that is prone to chronic diseases, increase in the number of surgical procedures, and growing use of polymer-based medical coatings for medical implants, protective covering, medical equipment, & medical devices are primarily contributing to the growth of the global market. Further, the growing need to enhance versatility, functionality, and ease of use of the medical product has surged the demand for medical grade coatings. In addition to this, the rise in preference for home care facilities, increase in healthcare expenditure, and the current Covid-19 pandemic has led to the increase in demand for medical devices.
The widely used Parylene coatings for medical devices and several components also offer several benefits including resistance to fungal & bacterial proliferation, no curing cycle, FDA-approved, chemically inert, biologically stable, solvent-free, and are non-toxic. Medical grade coatings are also widely used for improving aesthetics for recognition purposes during surgery.
The advanced coating also delivers anti-fouling properties in presence of tissue and blood. All these factors are combinedly spurring the growth of the global medical grade coatings market. Moreover, the rapidly growing medical industry, new product launches, growing demand for coating of medical devices are also fueling the growth of the market.
Medical Grade Coatings Market: Segmentation
The global medical grade coatings market is categorized based on formulation, type, material, application, and region.
Based on the formulation, the global medical grade coatings market is divided into powder coating, water based, and solvent based. Drug eluting, anti-microbial, hydrophobic, hydrophilic, and others are the types of medical grade coatings in the global market. Based on the material, the market is bifurcated into metals, parylene, silicone, PVDF, PTFE, and others. The application segment consists of dentistry, gynecology, neurology, orthopedics, cardiovascular, general surgery, and others.
Browse the full “Medical Grade Coatings Market: By Formulation (Powder Coating, Water Based, And Solvent Based. Drug Eluting, Anti-Microbial, Hydrophobic, Hydrophilic, And Others), By Type (Drug Eluting, Anti-Microbial, Hydrophobic, Hydrophilic, And Others), By Material (Metals, Parylene, Silicone, Pvdf, Ptfe, And Others), By Application (Dentistry, Gynecology, Neurology, Orthopedics, Cardiovascular, General Surgery, And Others.) And By Region: Global Industry Analysis, Size, Share, Growth, Trends, And Forecast, 2023 - 2030” Report at https://www.zionmarketresearch.com/report/medical-grade-coatings-market
Regional Analysis:
Geographically, North America is estimated to lead the global medical grade coatings market and is expected to retain its dominance during the forecast period. Factors such as advancements in medical device technology, new product launches, and an increase in expenditure on R&D activities for the development of innovative medical devices & equipment are fostering the growth of the market in this region. Asia Pacific is projected to grow at a faster rate due to an increase in healthcare expenditure, the current pandemic situation, and an increase in demand for minimally invasive procedures.
Competitive Players:
The report contains qualitative and quantitative research on the global medical grade coatings market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global medical grade coatings market include;
- Medtronic PLC
- Medicoat Inc.
- Hydromer Inc.
- Harland Medical Systems Inc.
- Covalon Technologies Ltd.
- Biocoat Inc.
- Precision Coating Co. Inc.
- Speciality Coating Systems Inc.
- SurModics Inc.
- Koninklijke DSM NV
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The global medical grade coatings market is segmented as follows:
By Formulation
- Powder Coating
- Water Based
- Solvent Based
- Anti-microbial
- Hydrophobic
- Hydrophilic
- Others
By Type
- Drug Eluting
- Anti-microbial
- Hydrophobic
- Hydrophilic
- Others
By Material
- Metals
- Parylene
- Silicone
- Pvdf
- Ptfe
- Others
By Application
- Dentistry
- Gynecology
- Neurology
- Orthopedics
- Cardiovascular
- General Surgery
- Others
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Key questions answered in this report:
- What is the market size and growth rate forecast for Medical Grade Coatings industry?
- What are the main driving factors propelling the Medical Grade Coatings Market forward?
- What are the leading companies in the Medical Grade Coatings Industry?
- What segments does the Medical Grade Coatings Market cover?
- How can I receive a free copy of the Medical Grade Coatings Market sample report and company profiles?
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