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(EMAILWIRE.COM, February 09, 2023 ) The global Medical Coatings Market size is projected to grow from USD 6.0 billion in 2020 to USD 15.2 billion by 2025, at a CAGR of 20.5% during the forecast period. The major factors driving the market are the rising income levels in emerging economies, a growing percentage of the geriatric population, and the increasing use of home healthcare facilities.
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The Medical Coatings Market is segmented based on application into medical devices, medical implants, medical equipment & tools, protective clothing, and others. The medical devices segment accounted for the largest market share in 2019. Increased use of medical devices in the emerging economies, such as China and India, has led to the high growth of the market. The pandemic has further increased the demand for medical devices, such as catheters, guidewires, endotracheal tubes, positive pressure breathing devices, in-vitro diagnostic devices, cannulas, ventilators, ventilator accessories, infusion pumps, respirators, and other devices.
Between 2019 and 2020, the medical coatings market has observed a high growth rate due to COVID-19 and the increased demand across the world. The demand for medical devices and supplies, such as ventilators, personal protective equipment (PPE), respirators, and protective clothing, is on the rise to combat COVID-19. This is propelling the demand for antimicrobial, anti-fog, hydrophilic, and hydrophobic coatings. However, the demand for medical coatings used on implants is expected to grow with CAGR less than that of medical devices. As an overall result of the impact on demand for different applications, the medical coatings market is expected to witness a positive impact in 2020.
The medical coatings market comprises major players such as DSM (Netherlands), Hydromer (US), Surmodics (US), Biocoat (US), AST Products (US), Covalon Technologies (Canada), Harland Medical Systems (US), Applied Medical Coatings (US), Freudenberg (US), and Merit Medical OEM (US).
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Browse In-Depth TOC On “Medical Coatings Market
101 – Market Data Tables
39 – Figures
192 – Pages
Hydromer is the largest player operating in the medical coatings market. The company offers a wide range of medical coatings for various applications, such as stents, dental implants, orthopedic devices, tunneling catheter fixation, pacemaker fixation, ocular catheter fixation, and other medical device applications. The company has adopted partnership, agreement, and investment & expansion strategies to broaden its product portfolio and maintain its position in the market.
In November 2020, Hydromer partnered with N8 Medical for the supply of coatings to manufacture CeraShield endotracheal tubes. These tubes play a crucial role in the treatment of COVID-19 patients. This development exhibits active involvement of the company in the coatings market.
DSM is one of the largest producers of medical coatings in the world. The company offers a wide range of medical coatings. It has a portfolio that suits various medical device applications such as introducer sheaths, guidewires, access systems, guiding catheters, diagnostic catheters, balloon catheters, thrombectomy devices, aspiration catheters, neurovascular catheters, stent delivery systems, stent-graft delivery systems, heart valve delivery systems, foley catheters, and intermittent catheters. In recent years, DSM has adopted partnership as a key business strategy to strengthen its position in the market and maintain its leading position in the medical coatings market.
In January 2016, DSM Biomedical partnered with Vention Medical, a global integrated solutions partner. The partnership offers integration of development, testing, and application of DSMs ComfortCoat coating into the catheter manufacturing process. This development eliminates the need to transfer finished products to another supplier for development and coating application services.
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