Chicago, April 28, 2022 (GLOBE NEWSWIRE) -- According to the latest research report by Arizton, the global medical device coatings market will grow at a CAGR of 6% during 2022-2027. Growing demand for antimicrobial coatings, technological innovations, and rising demand for minimally invasive surgeries are the major drivers in the market.
Silver and its compounds are the commonly used antibacterial materials against bacteria, fungi, and viruses. Recently, silver nanoparticles have gained attention in antimicrobial applications due to their good microbial resistance in silver-based dressings and silver-coated medical devices.
The utilization of hydrophilic coatings in the medical field has constantly been increasing with new coated devices and tools. Hydrophilic coatings will generate significant revenue during the forecast period.
Medical Device Coatings Market Report Scope
| REPORT ATTRIBUTES | DETAILS | |
| MARKET SIZE (2027) | $15 Billion | |
| MARKET SIZE (2021) | $10.6 Billion | |
| CAGR (2022-2027) | 6% | |
| LARGEST MARKET | North America | |
| BASE YEAR | 2021 | |
| FORECAST YEAR | 2022-2027 | |
| MARKET SEGMENTATION | Coating type, Material, Product, and Geography | |
| KEY VENDORS | Hydromer, Covalon, DSM, AST Products, BioInteractions, Specialty Coating Systems (SCS), and Sciessens | |
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Rise in Startups for Coating Medical Devices
There has been significant growth in start-up organizations that provide coatings for medical devices. These start-ups are offering robust and state-of-the-art coatings for a wide range of medical devices across key applications. Over the few years, new entrants are gaining significant traction with their novel coatings and coating technologies that are improving the effectiveness of medical devices.
Tractivus, a Spanish start-up, offers antibiofilm coatings. This start-up’s proprietary technology, PHOBOSTech, involves coating thin nanoscale layers onto a surface that offers antibacterial properties. The high hydrophobicity of the coating restricts bacterial adherence to the surface without antibiotics or drugs. The company currently focuses on urinary catheters and tracheal stents, with many more coatings in the pipeline.
Key Insights
- The global medical device coatings market is growing at a CAGR of over 7% during the forecast period.
- Hydrophilic coatings accounted for the highest share of more than 31% in the global medical device coatings market due to their wide application on medical devices for lubricity and compatibility.
- Metallic coatings provide antibacterial properties, durability, compatibility, and other features when coated on medical devices which are contributing to its larger share of around 64.60% compared to non-metallic coatings in the global medical device coatings market.
- Catheters being the most used medical devices in healthcare settings accounted for the major share of over 29% in the global medical device coatings market in 2021.
- In 2021, North America dominated the global medical device coatings market with the highest share of more than 38% owing to the high usage of medical devices, advancement in the medical coating, and the large presence of manufacturers.
- With the advent of COVID-19, many scientists started developing novel and eco-friendly surface coating-based nanomaterials from anti-viral and anti-bacterial metal ions and polymers that can prevent surface-related SARS-CoV-2 infection.
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Segmentation Analysis
Coating Type
- Hydrophilic
- Antimicrobial
- Drug-Eluting
- Thromboresistant
- Others
Material
- Metallic
- Non-Metallic
Product
- Catheters
- Implants
- Electrosurgical Instruments
- Stents
- Others
Geography
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- APAC
- China
- Japan
- India
- Australia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Turkey
- Saudi Arabia
- South Africa
Competitive Overview
Key vendors are focusing on market expansion in existing and new markets to cater to the needs of the growing customer base, widen their product portfolios, and boost their production capabilities to gain traction from end-users. Established vendors are forming strategic alliances and entering into co-marketing agreements to increase their competitiveness and penetration in the antimicrobial medical device coatings market. Vendors are even strategizing long-term partnerships with suppliers and distributors to increase their sales volume and increase their geographical reach in the medical device coating market.
Key Vendors
- Hydromer
- Covalon
- DSM
- AST Products
- BioInteractions
- Specialty Coating Systems (SCS)
- Sciessens
Other Prominent Vendors
- Advanced Industrial Coatings
- Allvivo Vascular
- Avient
- Axalta Coating Systems
- BioCote
- Biomerics
- Biocoat
- Corline Biomedical
- Carmeda AB
- Cytonix
- DOT GmbH
- Endura Coatings
- ENS Technology
- Formacoat
- Freudenberg Medical
- Harland Medical Systems
- Hemoteq
- Isoflux
- IST
- jMedtech Coating Technologies
- Merit Medical Systems
- Microban
- Mitsubishi Chemical America
- Mitsui Chemicals
- Medtronic
- NanoSono
- Orchid
- Orion Industries
- Para-Coat Technologies
- Precision Coating Company
- Surmodics
- Surface Solutions Group
- Teleflex
- The Sherwin-Williams Company
- TST
- TUA Systems
- Wright Coating Technologies
Explore our chemicals & material profile to know more about the industry.
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