Global Medical Coatings Market, By Coating Type (Active Coatings, Passive Coatings), Material Type (Polymers, Metals, Ceramics, Composites, Glass, Others), Application (Medical Devices, Medical Implants, Medical Equipment and Tools, Protective Clothing, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Medical coatings market is expected to grow at a compound annual growth rate of 20.50% for the forecast period of 2021 to 2028. Data Bridge Market Research report on medical coatings market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
To be effectual and work professionally, medical devices and electronic components necessitate protection. So the medical coatings provide idyllic solutions for most types of substrates, which consist of glass, plastics, metals, silicone, rubber and ceramics.
The growing use of minimally invasive surgical procedures has highly influenced growth of the medical coatings market. In line with this, the high growth in population, rising income levels and health awareness is also acting as a key determinant favoring the growth of the medical coatings market over the forecast period of 2021 to 2028. Also the growing demand for home healthcare, increasing government expenditures and rapid spread of COVID-19 and high risk of HAIs are also positively impacting the growth of the medical coatings market. The major factor accountable for the growth of the market is the growing demand for coatings for life saving devices from medical industry.
However, the high upfront costs and rising raw material prices as well as the availability of substitutes, product aging and low shelf life of coatings may act as key restraint towards medical coatings market growth rate in the forecast period of 2021 to 2028, whereas the strict and time-consuming regulatory approval process and variations in regulations across countries have the potential to challenge the growth of the medical coatings market in the above mentioned forecast period.
Furthermore, the emergence of nanotechnology and rising market for multifunctional coatings as well as the intricate design of medical devices demanding atomic layer deposition will further offer a variety of growth opportunities for the medical coatings market in the above mentioned forecast period.
This medical coatings market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on medical coatings market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Medical Coatings Market Scope and Market Size
Medical coatings market is segmented on the basis of coating type, material type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of coating type, the medical coatings market is segmented into active coatings and passive coatings. Active coatings have further been segmented into antimicrobial coatings and others. Others have further been sub-segmented into antithrombogenic coatings, drug-eluting coatings and anti-fog coatings. Passive coatings have further been segmented into hydrophilic coatings/lubricious hydrophilic coatings and hydrophobic coatings.
- Based on material type, the medical coatings market is segmented into polymers, metals, ceramics, composites, glass and others. Polymers have further been segmented into fluoropolymers, parylene, silicones and others. Fluoropolymers have further been sub-segmented into PTFE, PVDF and others. Metals have further been segmented into silver, titanium, stainless steel and others.
- The application segment for medical coatings market is segmented into medical devices, medical implants, medical equipment and tools, protective clothing and others. Medical implants have further been segmented into orthopedic implants, dental implants and cardiovascular implants. Medical equipment and tools have further been segmented into surgical equipment and tools and institutional equipment.
Medical Coatings Market Country Level Analysis
Medical coatings market is analyzed and market size, volume information is provided by country, coating type, material type and application as referenced above.
The countries covered in the medical coatings market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America leads the medical coatings market because of the growing spending in the healthcare industry as well as the increasing exports of medical devices and advancements in medical technology within this particular region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 due to increasing demand for better healthcare facilities, associated with growing number of hospitals within the region.
The country section of the medical coatings market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Medical Coatings Market Share Analysis
Medical coatings market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to medical coatings market.
The major players covered in the medical coatings market report are Hydromer, DSM, Surmodics, Inc., Biocoat Incorporated, AST Products, Inc., Covalon Technologies Ltd., Freudenberg Medical, Merit Medical Systems, Inc., Miller-Stephenson, Inc., Harland Medical Systems, Inc., APPLIED MEDICAL COATINGS, Specialty Coating Systems Inc., Endura Coatings, Medicoat AG, Applied Membrane Technology, Inc., Precision Coating Company, Inc., Whitford Limited, Calico Coatings, Medical Surface Inc., and Coatings2Go, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.