The global medical coatings market accounted for a value of USD 8.9 billion in 2019. Medical coatings market projected to register growth at a CAGR of 20.5% during forecast period.
COVID-19 has impacted medical coatings market. The production of medical face masks, gloves, containers for intravenous injection, sanitizers and disinfectants etc have been increased during COVID-19 period. The adoption and demand for such products has increased immensely across the world. The demand for ventilators has been increased due to corona virus outbreak across the world. There is huge increase in production and demand of various medical devices during corona virus outbreak.
For more details, visit: Global Medical Coating Market By Coating Type (Passive Coating, Active Coating), By Material Type (Polymers, Metals, Others), By Application (Medical Devices, Medical Implants, Others), By Region–Forecast & Opportunities to 2026
In surgery, doctors use various method and techniques to operate patient with minimum harm to the body. Surgeries such as minimal invasive surgery requires have fewer complications, less pain and higher accuracy when compared to traditional open surgery. Thus, the demand for medical coating is increasing around the world.
On the basis of coating type, the medical coating market is segmented into passive coating and active coatings. The passive coating segment is estimated to hold largest share during forecast period. These coatings are widely to reduced coefficient of friction and they have properties such as lubricity, low particulate count and durability which is highly in demand. Hydrophobic coatings are fluid repellent coatings and are widely used in medical equipments and devices whereas hydrophilic coatings are used in introducer sheaths, catheters and guide wires. Various properties of hydrophilic coatings such as easy insertion and minimal invasion and properties of hydrophobic coatings such as fluid repellant is likely to drive growth in passive coatings segment during forecast period.
On the basis of material type, the medical coating market is segmented into polymers, metals and others. The polymers segment is estimated to be the fastest growing market during forecast period. The medicals coatings based on polymers are widely used in medical equipments, devices, tools, medical implants and protective clothing etc. these polymers helps in maximizing corrosion resistance and durability by minimizing coefficient of friction. These polymers are easily available in market at low cost. This drives growth in polymers segment during forecast period.
On the basis of application, the medical coatings market is segmented into medical devices, medical implants, protective clothing, medical equipment & tools and others. The medical devices segment is estimated to hold largest market share during forecast period. The use of medical devices is increasing around the world which has increased demand for medical devices across the world. The outbreak of corona virus has also led to increase in adoption of devices such as positive pressure breathing devices, ventilators, infusion pumps, respirators and catheters etc. All this factors drive growth in medical devices segment during forecast period.
North America region accounted for XX% of market share in 2019. The demand for medical coatings is increasing in this region. The export of medical coating is increasing rapidly. The technological advancement in healthcare leads to rise in demands for such devices during forecast period.
The key market players in medical coating market are DSM, Surmodics Inc, Hydromer Inc, Biocoat Inc, Speciality coating systems, Mctec, Ast Products Inc, Medicoat AG, PPG Industries, Materion, Harland Medical Systems, Freudenberg medical, Applied Medical Coatings, Precision Coating Co. and Sono-Tek Corp.
- What are the expected industry trends over the next three to five years?
- Which of the medical coatings type is likely to lead by 2025?
- Which of the application segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?