Medical Coatings Market: Current Analysis and Forecast (2021-2027)

Medical Coatings Market: Current Analysis and Forecast (2021-2027)

The medical coating market is expected to grow at CAGR of 8% over the period of 2021-2027. Medical devices require special care to maintain their effectiveness and durability. The dangers of these devices include body fluids, moisture, and contamination, which can make the product unsuitable for its function. To protect them, a coating called a medical coating is applied. It offers relevant solutions for the majority of the substrates such as glass, plastic, and rubber. Medical devices with a medical-grade coating are more durable because they can be easily sterilized. With rapid technological advancement and rising investment in research & development of these coatings, many of the medical coating market players are launching new and innovative products which in turn is driving the market all over the globe. For example, in June 2021, Amcor introduced ACT2100 heat seal coating for medical-grade DuPont Tyvek2 and paper packaging applications. This next-generation coating technology delivers enhanced performance features for healthcare applications and will be produced in multiple locations worldwide to offer customers increased flexibility to be supplied from the most suitable location for the manufacturing and packaging of their devices. Furthermore, the rising prevalence of infectious diseases and hospital-associated infections coupled with the rapidly growing applications in the medical industry including cardiovascular devices, ventilators, catheters, guidewire, sutures, stents, syringes, and other protective medical equipment are some of the other factors significantly impacting the medical coatings market globally.

Applied Medical Coatings, LLC., Dymax Corporation, Royal DSM, Abbott Laboratories, Biocoat Inc., AeonClad, Bayer Material Science LLC, Boston Scientific Corporation, Covalon Technologies Ltd., Amcor, are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with innovative products.

Insights Presented in the Report
"Amongst Coating Type, the passive coatings category accounted for the majority share in the market in 2020”

Based on coating type, the market is classified into active coatings and passive coatings. Amongst coating types, the passive coatings category accounted for a significant share of the market. These coatings have properties such as lubricity, durability, and low friction coefficient contributing to the growth of the market. Hydrophilic coatings are commonly used on guide wires, catheters, and introducer sheaths to reduce the coefficient of friction. They are water repellent or liquid repellent and have minimal penetration & easy insertion of medical devices into biological openings, making them suitable for medical devices.
"Among Material Type, the polymers is expected to witness highest CAGR during the forecast period”

Based on material type, the market is categorized into polymers, metals, and others. Among these, the polymers is expected to witness the highest CAGR during the forecast period. They are needed to optimize strength and corrosion resistance while minimizing the coefficient of friction. The polymer is non-wetting and inert, preventing almost any substance from adhering to and reacting with the coated surface. These properties make the polymer suitable for a variety of applications such as anesthesia delivery, stirrer shafts, sterilizers, centrifuge components, saline packaging, and more. Thereby, boosting the growth of this segment.
"Among Application, the medical devices is expected to witness highest CAGR during the forecast period”

Based on application, the market is categorized into medical devices, medical implants, medical equipment and tools, protective clothing, and others. Among these, the medical devices are expected to witness the highest CAGR during the forecast period. This is due to the increased demand for medical devices such as catheters, guide wires, endotracheal tubes, positive pressure ventilators, in vitro diagnostic devices, cannulas, ventilators, ventilator accessories, infusion pumps, ventilators, and other devices owing to the rise in prevalence of various diseases.
"North America to witness significant growth during the forecast period”

For a better understanding of the market dynamics of the medical coating market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the medical coating market industry in 2020 owing to strong healthcare infrastructure and growing adoption of medical coating in the region.

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.