DUBLIN–(BUSINESS WIRE)–The “Medical Device Coating and Surface Modification Market Industry Trends and Global Forecasts to 2035: Distribution by Type of Medical Devices Coated, Type of Coating, Type of Coating Material, Company Size, and Geographical Regions” report has been added to ResearchAndMarkets.com’s offering.
The global medical device coatings market size is currently valued at USD 8.8 billion and is projected to reach USD 17.3 billion by 2040, growing at a CAGR of 7.1% during the forecast period.
Medical Device Coatings Market: Growth and Trends
The demand for advanced medical devices is increasing, primarily due to the rise in elderly population, the higher occurrence of chronic illnesses, and the growing requirement for minimally invasive techniques. Medical device coatings are specialized coatings utilized in the healthcare sector to improve the performance, longevity, and safety of different medical instruments and equipment. These coatings enhance biocompatibility, decrease friction, offer antimicrobial features, and safeguard against corrosion. They are essential for ensuring the safety and efficacy of medical devices in various medical procedures.
The World Health Organization (WHO) states that currently, there are approximately two million medical devices available worldwide. With the advancement of medical devices, there is an urgent need for coatings that can fulfill the operational, clinical, and engineering demands of these technologies.
Medical device coatings offer various advantages that cater to the changing demands of the healthcare and pharmaceutical sectors. Currently, several hydrophilic coatings are in the market to meet the growing need for innovative medical devices. Moreover, different medical device makers are employing innovative surface modification techniques to improve physiochemical characteristics, minimize frictional resistance, and in some instances, the arrangement of the device substrate, thus improving both performance and patient results.
Medical coatings are being more widely used due to their simple application, effectiveness against microbes, and compatibility with biological systems. Consequently, there is a significant demand to enhance coating technologies and polymers to facilitate continual expansion in the worldwide medical device coating sector. Fueled by the growing incidence of chronic illnesses, advancements in technology, and a heightened emphasis on minimizing hospital-acquired infections, the medical device coating sector is expected to experience consistent growth in the next decade.
Medical Device Coatings Market: Key Insights
The report delves into the current state of the medical device coatings market and identifies potential growth opportunities within the industry.
The key takeaways of the report are:
- Presently, more than 80 players are offering services for medical device coating across the globe; a relatively large proportion (70%) of these companies are based in North America.
- Majority (64%) of companies are focused on providing coating materials that offer antimicrobial properties, primarily due to the increased risk of pathogen contamination associated with medical implants.
- Over 140 surface modification technologies and coating solutions are being offered by various firms; the market is characterized by the presence of both small and mid-sized companies.
- Notably, 85% of surface modification technologies and coating solutions utilize synthetic coating materials, which are applied to a wide range of compatible substrates to enhance device performance and safety.
- Likewise, a wide range of surface modification technologies / coatings are being provided by players across different regions to strengthen their respective offering portfolios.
- The continuous interest of stakeholders in this domain is evident from the ongoing partnership activity; 62% of the total number of partnerships have been signed in the last five years.
- Driven by a range of factors, including the growing demand for minimally invasive surgeries and escalating global population with health issues, this market is poised to grow significantly over the coming years.
- The medical device coating market is likely to grow at a CAGR of 7.1% till 2035; this can be attributed to the rising preference for minimally invasive procedures leading to growing demand for coated devices.
- The global medical device coating market is currently dominated by mid-sized companies, and this trend is expected to remain unchanged in the coming years as well.
Medical Device Coatings Market: Research Coverage
The report on medical device coatings market features insights into various sections, including:
- Market Sizing and Opportunity Analysis: An in-depth analysis of current market opportunity and the future growth potential of medical device coatings market, focusing on key market segments, including type of medical device coated, type of coating, type of coating material, company size, and geographical regions.
- Market Landscape: A comprehensive evaluation of medical device coatings market, based on several relevant parameters, such as type of medical device coated, type of coating, nature of coating material, type of compatible substrate, type of coating Function. year of establishment, company size and location of headquarters.
- Technology Landscape: A detailed analysis of medical device surface modification technologies and coating solutions, based on several relevant parameters, such as type of medium used for modification, type of coating process employed, and type of compatible substrate material, type of coating, type of resistance offered, coating feature, year of establishment, company size and location of headquarters.
- Company Competitiveness Analysis: An insightful competitiveness analysis of various medical device coating providers, based on various relevant parameters, such as company strength, portfolio strength, and portfolio diversity.
- Technology Competitive Analysis: A detailed technology competitiveness analysis of the various surface modification technologies and coating solutions, based on several relevant parameters, such as company strength, technology strength and coating features.
- Company Profiles: Comprehensive profiles of medical device coating providers, featuring information on company overview, financial information, medical device portfolio, recent developments, and future outlook statements.
- Partnerships and Collaborations: A detailed analysis of partnerships inked between stakeholders in the medical device coatings market, based on several relevant parameters, such as year of partnership, type of partnership, type of partner, end user, most active players, and geography.
- PESTLE Analysis: An insightful analysis of the leading medical device coating providers, highlighting the relative effect of each factor on the medical device coating providers.
- Market Impact Analysis: A thorough analysis of various factors, such as drivers, restraints, opportunities, and existing challenges that are likely to impact market growth.
Key Questions Answered in this Report
- How many companies are currently engaged in this market?
- Which are the leading companies in this market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
Additional Benefits
- Complimentary PPT Insights Packs
- Complimentary Excel Data Packs for all Analytical Modules in the Report
- 15% Free Content Customization
- Detailed Report Walkthrough Session with Research Team
Report Segmentation
Type of Medical Device Coated
- Class I Devices
- Class II Devices
- Class III Devices
Type of Coating
- Hydrophilic
- Hydrophobic
Type of Coating Material
- Polymer Coatings
- Metal Coatings
- Other Coatings
Company Size
- Small
- Mid-sized
- Large
Geographical Regions
North America
- US
- Canada
Europe
- Germany
- France
- Italy
- Spain
- UK
- Switzerland
- Poland
- Belgium
- Netherlands
- Rest of the Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of the Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
Middle East and North Africa
- Saudi Arabia
- Egypt
- Israel
- Rest of Middle East and North Africa
For more information about this report visit https://www.researchandmarkets.com/r/hyf9pt
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