Global Medical Device Coating Market- Market Overview:

The global medical device coating market is expected to grow from USD 10 billion in 2021 to USD 19 billion by 2029, at a CAGR of 8.5% during the Projection period 2022-2029. The growth of this market is mainly driven due to the Increasing awareness regarding the advancement of medical treatments is also likely to boost the demand for medical coatings.

Since the coronavirus pandemic began, antimicrobial coatings have become more important in order to stop the possible infection from spreading. Catheters, surgical instruments, implanted devices, contact lenses, and many other medical equipment & instruments use antimicrobial coatings. Medical implants, protective garments, and instruments and equipment for the medical industry all use polymer-based medical coatings. The increase in ischemic heart disease and chronic obstructive pulmonary disease cases is fueling the need for medical device coatings. Manufacturers must comply with strict rules in European nations. Therefore, to strengthen their credibility, manufacturers should expand R&D to meet with evolving government rules. Growing government spending and an increase in COVID-19 cases around the world will drive the need for ventilators, cardiovascular devices, catheters, sutures, guide wires, stents, syringes, mandrels, and other protective equipment used in the medical sectors. Medical device coating is essential when it comes to safeguarding various types of healthcare equipment. These coatings improve the functionality and agility of the medical gadget while also defending it from potential virus and microbial attacks. It also has high thermal stability, dry-film lubricity, and dielectric properties, all of which are expected to expand the market over the Projection period greatly.

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Market Dynamics:

Drivers:                          

• Rising incidences of diseases

With the increase in cases in neurology, orthopedics, ophthalmology, general surgery, dentistry, gynecology, and cardiology, the market has room to grow. General surgery is predicted to generate the highest demand among these end-use applications. On the other hand, the market for medical device coatings in the field of cardiology may experience faster growth in the near future. As a result, there might be a strong need for medical device coatings for angioplasty catheters, balloon catheters, guide wires, coronary stents, percutaneous devices, and occlusion devices.

Restraints:                                             

• Stringent Regulations

In contrast, the strict and drawn-out regulatory approval process and differences in regulations across nations have the potential to impede the growth of the medical coatings market. However, market players are making more of an effort to adjust to shifting governmental rules, which enhances their reputations on a worldwide scale.

Opportunities:

• Increasing Geriatric population

As pollution levels rise, more children are developing ischaemic heart disease, chronic obstructive pulmonary disease, and acute lower respiratory infections. At the same time, there is an increasing need for hydrophilic lubricious coatings on catheters, sheaths, and short-term implanted devices in the urology and cardiovascular fields because they promote biocompatibility. Additionally, rising geriatric populations, a rise in the necessity for non-invasive therapies and early diagnosis, as well as increased demand for high-quality healthcare, are anticipated to drive the market's expansion throughout the Projection period.

Challenges:

• High Cost

High upfront costs, rising raw material prices, the availability of substitutes, product aging, and low shelf life of coatings may all act as major restraints on the growth rate of the medical device coatings market during the Projection period.

Segmentation Analysis:

The global medical device coating market has been segmented based on product, application, and regions.

By Product                                                                                        

The product segment includes Hydrophilic Coatings, Antimicrobial Coatings, Drug-eluting Coatings, Anti-thrombogenic Coatings, and Others. The antimicrobial coatings segment led the medical device coating market with a market share of around 3% in 2021. Their low price and great compatibility with different device materials, including metal, plastic, carbon fiber, composite materials, and stainless steel, are ascribed to this. The segment will also grow as a result of rising R&D efforts and increasing implanted device adoption.

By Application

The application segment includes Neurology, Orthopedics, General Surgery, Cardiovascular, Dentistry, Gynecology, and Others. The cardiovascular segment led the medical device coating market with a market share of around 4.1% in 2021. Because cardiac pacemakers and implants are becoming more popular. The market will also rise as a result of the rising demand for drug-eluting coatings for coronary stents. Increased use of these gadgets in conjunction with an aging population, bad eating patterns, and a sedentary lifestyle will lead to a rise in cardiovascular disease incidence. Furthermore, during the course of the Projection period, the cardiovascular segment's growth will be aided by favorable government policies, such as reimbursement coverage and rising healthcare spending.

Global Medical device coating market- Sales Analysis.

The sale of synthetic biology products expanded at a CAGR of 8.1% from 2015 to 2021.

The advancement in technology and the development compared to traditional medicines is one of the major growth drivers in the medical device coating market. The use of advanced technology such as genetically engineered products, DNA sequencing, gene synthesis, next-generation sequencing (NGS), and bioinformatics are improving research in the field of medicine, globally.

This newer technology has changed the research and development in combating diseases and developing newer treatment options. Synthetic biology has also developed immunotherapies with bioengineered cells that help treat diseases like blood tumours including large B-cell lymphoma.

Synthetic biology is also driving prominent advances in biomedicine that have significantly improved healthcare. Thus, the continuous focus on research and development to boost the treatment options for several diseases has significantly led to the market's growth and will continue to do so in the Projection period. Research and development (R&D) expenditure on cutting-edge and creative products has been rising. This is also due to the growing emphasis on meeting the demand in the medical industry for products that are biocompatible and biodegradable. The trend, which is being driven by rising carbon footprint, is not anticipated to subside in the upcoming years.

Thus, owing to the aforementioned factors, the global Anesthesia, and respiratory devices market is expected to grow at a CAGR of 8.5% during the Projection period from 2022 to 2029.

By Regional Analysis:

The regions analyzed for the medical device coating market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North America region dominated the medical device coating market and held a 35.59% share of the market revenue in 2021.

• The North American region witnessed a major share. Favourable healthcare resources and the increased prevalence of cardiometabolic illnesses, including Pulmonary Embolism (PE) and Deep Vein Thrombosis, are both to blame for this (DVT). Additionally, it is anticipated that in the next years, the need for medical device coating will increase due to the fast-rising COVID- 19 positive instances, the high adoption of cutting-edge surgical procedures, and the expanding healthcare infrastructure in the U.S.
• Asia-Pacific is anticipated to experience significant growth during the Projection period. Because there is a growing need for better healthcare facilities and more hospitals are opening up. High rates of obesity and an ageing population are predicted to increase the likelihood of cardiac illnesses, increasing the demand for medical equipment. Growth in the home healthcare market and accessibility to private health insurance will contribute to this.

Global Medical Device Coating Market- Country Analysis:

• Germany

Germany's medical device coating market size was valued at USD 119.38 billion in 2021 and is expected to reach USD 24.29 billion by 2029, at a CAGR of 5.3% from 2022 to 2029. The rise in demand for these materials in cardiology, general surgery, and neurology equipment is driving the market for medical device coatings.

• China

China’s medical device coating market size was valued at USD 29.78 billion in 2021 and is expected to reach USD 43.50 billion by 2029, at a CAGR of 6.9% from 2022 to 2029.  The increasing demand for better healthcare facilities is associated with the growing number of regional hospitals adds to the market’s growth.

• India

India's medical device coating market size was valued at USD 5.919 billion in 2021 and is expected to reach USD 9.32 billion by 2029, at a CAGR of 6.1% from 2022 to 2029. Due to rising expenditure to develop healthcare infrastructure and the rising geriatric population, the market is expected to rise in India. Furthermore, the make-in-India programmes by the government also adds impetus to the market’s growth during the Projection period.

Key Industry Players Analysis:  

To increase their market position in the global medical device coating business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.

• Royal DSM
• Surmodics, Inc.
• PPG Industries, Inc.
• Sono-Tek Corporation
• Materion Corporation
• Hydromer Inc.
• Precision Coating Company, Inc.
• Freudenberg Medical
• AST Products, Inc.
• Biocoat Incorporated
• Covalon Technologies Ltd.
• Harland Medical Systems
• Specialty Coating Systems Inc.
• Medical Surface Inc.
• Merit Medical Systems, Inc.
• Medicoat
• Allvivo Vascular, Inc.

Latest Development:

• In May 2022, Max Ventilator introduced multipurpose noninvasive ventilators with built-in oxygen therapy and a humidifier in India.
• In May 2022, Stryker introduced the EasyFuseDynamic Compression System. It is a foot and ankle staple system that simplifies surgery, offers robust dynamic-compression implants, and cuts down on operating room waste.

Report Metrics

Report Attribute	Details
Study Period	2021-2029
Base year	2021
CAGR (%)	8.5%
Market Size	10 billion in 2021
Projection period	2022-2029
Projection unit	Value (USD)
Segments covered	By Product, By Application, And By Region.
Report Scope	Revenue Projection, competitive landscape, company ranking, growth factors, and trends
Companies covered	Royal DSM, Surmodics, Inc., PPG Industries, Inc., Sono-Tek Corporation, Materion Corporation, Hydromer Inc., Precision Coating Company, Inc., Freudenberg Medical, AST Products, Inc., Biocoat Incorporated, Covalon Technologies Ltd., Harland Medical Systems, Specialty Coating Systems Inc., Medical Surface Inc., Merit Medical Systems, Inc., Medicoat, Allvivo Vascular, Inc. among others.
By Product	Hydrophilic Coatings Antimicrobial Coatings Drug-eluting Coatings Anti-thrombogenic Coatings Others
By Application	Neurology Orthopedics General Surgery Cardiovascular Dentistry Gynecology Others
Regional scope	North America Europe Asia-Pacific South America Middle East and Africa

Scope of the Report

Global Medical Device Coating Market By Product:

• Hydrophilic Coatings
• Antimicrobial Coatings
• Drug-eluting Coatings
• Anti-thrombogenic Coatings
• Others

Global Medical device coating market By Application:

• Neurology
• Orthopedics
• General Surgery
• Cardiovascular
• Dentistry
• Gynecology
• Others

Global Medical device coating market By Region:

• North America
  • USA
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Russia
• Asia-Pacific
  • Japan
  • China
  • India
  • Korea
  • Southeast Asia
• South America
  • Brazil
  • Peru
• Middle East and Africa
  • UAE
  • South Africa
  • Saudi Arabia

Political Factors- Political factors in particular directly impact this industry and medical device coating costs. These include insurance policies and healthcare changes. Take into account the Medicare and Medicaid programmes, government spending and personnel policies. It is becoming clear that there is a growing need and a timely opportunity for more advocacy and activism to promote public health goals around the world related to the use of medical devices as the significance and potential benefits of the variety of existing and developing medical devices are increasingly recognised, as the number of scandals in the field receive wide global publicity, and as regulatory regimes are tightened up. Clinical innovation is under pressure from technological innovation, but how this pressure expresses itself varies across various health systems. Seductive fantasies of technological advancement sway healthcare policy-makers. Media exposure and the promotion of cutting-edge technologies, puts pressure on those who set healthcare policies and generate demand among patients and citizens. Medical device policy must also take into account developing technologies, which are fraught with uncertainty (e.g. nanotechnology).

Economic Factors- Economically speaking, the world currently has modest growth, and little is likely to change in the foreseeable future. Economic activity is anticipated to slightly improve and, if at all, the unemployment rate will only slightly decline. While things are improving, there are still short-term threats, including issues with the Eurozone, the USA's inability to overcome fiscal adjustments, and a slowdown in developing nations' economies. In order to increase financial stability globally, numerous developed economies pursued risky and unconventional monetary policies. Consider how unemployment and inflation affect people's capacity to afford insurance and spend money on medical devices when focused on economic repercussions, as this impacts the medical device coating sector. Therefore, these elements directly impact how well healthcare organisations and other businesses operating in the connected sector function.

Social Factors- People's participation in healthcare services is directly influenced by their cultural ideas and values. Some cultures, in particular, favour conventional methods. Others turn to natural remedies or alternative medical care. Thus, the coating sector is directly impacted by greater medical device usage. The population's demographics, employment rate, level of education, household income, and other factors all influence the social and cultural environment. It is crucial to keep an eye on the population's fundamental beliefs and attitudes as well as the particular requirements of diverse target groups. The ageing population in industrialised economies will fuel the expansion of medical device companies. Over 80% of adults 65 and older have at least one chronic illness. When the first wave of baby boomers starts to turn 65, the number of people 60 and older will significantly rise. This will create huge potential for medical device businesses that bring cutting-edge technologies to address the chronic condition. By 2020, the EU policy is to achieve 40%. The EU's demographic trend clearly works against this goal. The maximum number of approved students was set by the governments of the selected EU nations.

Technological Factors- Government funding for R&D, the general degree of technology adoption, and new discoveries, for instance, are some of the technological elements that have an impact on economic growth. These three topics will also be addressed in relation to the situation in the EU and the medical device industry. Innovation-related activities are becoming more and more important economically. R&D spending from the state budget is anticipated to cost €1.036 million annually in 2013, 2014, and 2015. Up until 2015, there should be an increase in the proportion of financial resources for R&D that are supplied as special-purpose support. These costs ought to be in line with the actual demand in the application field. Public resources for R&D will include a sizeable portion of institutional assistance. The areas that will receive support will be particularly the application of knowledge, obtaining patents, or starting spin-off businesses. Additionally, healthcare institutions may incur costs as a result of the development of innovative technological solutions. The price of healthcare is directly impacted. The utilisation of deployed technologies by the employees must also be a priority for healthcare facilities.

Environmental Concerns- Organizations that deal with healthcare should always work to make their waste disposal processes better. The goal is to address the population's environmental concerns in particular. As a result, they ought to incorporate such actions into their strategic planning. Globally, climate change is a serious and ongoing problem. Some industries are performing better than others despite the fact that many nations and businesses are making every effort to put rules against the earth's rapid warming into place. Due in large part to the stringent restrictions it must comply with, the medical device coating business has been hesitant to adapt its sustainability practises. Due to the nature of the products, risk and quality management standards are frequently rigid since adjustments cannot be made at the expense of the general public's health.

Legal Factors- It is important to explain how tax regulations influence organisations that are involved in healthcare. In particular, the latter should adhere to the relevant rules that regulate the sector. List each of these elements in this section. In this industry, important variables include the legislative landscape and the distribution of power. The actions of the government and other state institutions may have a significant impact on entrepreneurship on different sorts of markets. Regulations on the international market, such as those in the People's Republic of China, Europe, and Canada, are based on those of the US FDA. Classes I, II, and III are used to categorise medical devices. From Class I to Class III, regulatory oversight is more stringent. The regulations for a generic device type are defined by the device classification regulation.

1. Introduction
   • 1. Objectives of the Study
   • 2. Market Definition
   • 3. Research Scope
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
   • 1. Porter’s Five Forces Analysis
   • 2. Value Chain Analysis
   • 3. Top Investment Pockets
     • 3.1. Market Attractiveness Analysis By Product
     • 3.2. Market Attractiveness Analysis By Application
     • 3.3. Market Attractiveness Analysis By Region
   • 4. Industry Trends
5. Market Dynamics
   • 1. Market Evaluation
   • 2. Drivers
     • 2.1. Rising Cases
   • 3. Restraints
     • 3.1. Stringent Regulations
   • 4. Opportunities
     • 4.1. Increasing Geriatric population
   • 5. Challenges
     • 5.1. High Cost

6. Global Medical Device Coating Analysis and Projection, By Product
   • 1. Segment Overview
   • 2. Hydrophilic Coatings
   • 3. Antimicrobial Coatings
   • 4. Drug-eluting Coatings
   • 5. Anti-thrombogenic Coatings
   • 6. Other
7. Global Medical Device Coating Analysis and Projection, By Application
   • 1. Segment Overview
   • 2. Neurology
   • 3. Orthopedics
   • 4. General Surgery
   • 5. Cardiovascular
   • 6. Dentistry
   • 7. Gynecology
   • 8. Others
8. Global Medical Device Coating Analysis and Projection, By Regional Analysis
   • 1. Segment Overview
   • 2. North America
     • 2.1. U.S.
     • 2.2. Canada
     • 2.3. Mexico
   • 3. Europe
     • 3.1. Germany
     • 3.2. France
     • 3.3. U.K.
     • 3.4. Italy
     • 3.5. Spain
   • 4. Asia-Pacific
     • 4.1. Japan
     • 4.2. China
     • 4.3. India
   • 5. South America
     • 5.1. Brazil
   • 6. Middle East and Africa
     • 6.1. UAE
     • 6.2. South Africa

9. Global Medical Device Coating-Competitive Landscape
   • 1. Overview
   • 2. Market Share of Key Players in the Medical Device Coating
     • 2.1. Global Company Market Share
     • 2.2. North America Company Market Share
     • 2.3. Europe Company Market Share
     • 2.4. APAC Company Market Share
   • 3. Competitive Situations and Trends
     • 3.1. Product Launches and Developments
     • 3.2. Partnerships, Collaborations, and Agreements
     • 3.3. Mergers & Acquisitions
     • 3.4. Expansions

10. Company Profiles
    • Royal DSM
      • 1.1. Business Overview
      • 1.2. Company Snapshot
      • 1.3. Company Market Share Analysis
      • 1.4. Company Product Portfolio
      • 1.5. Recent Developments
      • 1.6. SWOT Analysis
    • Surmodics, Inc.
      • 2.1. Business Overview
      • 2.2. Company Snapshot
      • 2.3. Company Market Share Analysis
      • 2.4. Company Product Portfolio
      • 2.5. Recent Developments
      • 2.6. SWOT Analysis
    • PPG Industries, Inc.
      • 3.1. Business Overview
      • 3.2. Company Snapshot
      • 3.3. Company Market Share Analysis
      • 3.4. Company Product Portfolio
      • 3.5. Recent Developments
      • 3.6. SWOT Analysis
    • Sono-Tek Corporation
      • 4.1. Business Overview
      • 4.2. Company Snapshot
      • 4.3. Company Market Share Analysis
      • 4.4. Company Product Portfolio
      • 4.5. Recent Developments
      • 4.6. SWOT Analysis
    • Materion Corporation
      • 5.1. Business Overview
      • 5.2. Company Snapshot
      • 5.3. Company Market Share Analysis
      • 5.4. Company Product Portfolio
      • 5.5. Recent Developments
      • 5.6. SWOT Analysis
    • Hydromer Inc.
      • 6.1. Business Overview
      • 6.2. Company Snapshot
      • 6.3. Company Market Share Analysis
      • 6.4. Company Product Portfolio
      • 6.5. Recent Developments
      • 6.6. SWOT Analysis
    • Precision Coating Company, Inc.
      • 7.1. Business Overview
      • 7.2. Company Snapshot
      • 7.3. Company Market Share Analysis
      • 7.4. Company Product Portfolio
      • 7.5. Recent Developments
      • 7.6. SWOT Analysis
    • Freudenberg Medical
      • 8.1. Business Overview
      • 8.2. Company Snapshot
      • 8.3. Company Market Share Analysis
      • 8.4. Company Product Portfolio
      • 8.5. Recent Developments
      • 8.6. SWOT Analysis
    • Biocoat Incorporated
      • 9.1. Business Overview
      • 9.2. Company Snapshot
      • 9.3. Company Market Share Analysis
      • 9.4. Company Product Portfolio
      • 9.5. Recent Developments
      • 9.6. SWOT Analysis
    • Covalon Technologies Ltd.
      • 10.1.1. Business Overview
      • 10.1.2. Company Snapshot
      • 10.1.3. Company Market Share Analysis
      • 10.1.4. Company Product Portfolio
      • 10.1.5. Recent Developments
      • 10.1.6. SWOT Analysis

List of Table

1. Global Medical Device Coating, By Product, 2021–2029 (USD Billion)
2. Global Hydrophilic Coatings, Medical Device Coating, By Region, 2021–2029 (USD Billion)
3. Global Antimicrobial Coatings, Medical Device Coating, By Region, 2021–2029 (USD Billion)
4. Global Drug-eluting Coatings, Medical Device Coating, By Region, 2021–2029 (USD Billion)
5. Global Anti-thrombogenic Coatings, Medical Device Coating, By Region, 2021–2029 (USD Billion)
6. Global Other, Medical Device Coating, By Region, 2021–2029 (USD Billion)
7. Global Medical Device Coating, By Application, 2021–2029 (USD Billion)
8. Global Neurology, Medical Device Coating, By Region, 2021–2029 (USD Billion)
9. Global Orthopedics, Medical Device Coating, By Region, 2021–2029 (USD Billion)
10. Global General Surgery, Medical Device Coating, By Region, 2021–2029 (USD Billion)
11. Global Cardiovascular, Medical Device Coating, By Region, 2021–2029 (USD Billion)
12. Global Dentistry, Medical Device Coating, By Region, 2021–2029 (USD Billion)
13. Global Gynecology, Medical Device Coating, By Region, 2021–2029 (USD Billion)
14. Global Others, Medical Device Coating, By Region, 2021–2029 (USD Billion)
15. North America Medical Device Coating, By Product, 2021–2029 (USD Billion)
16. North America Medical Device Coating, By Application, 2021–2029 (USD Billion)
17. USA Medical Device Coating, By Product, 2021–2029 (USD Billion)
18. USA Medical Device Coating, By Application, 2021–2029 (USD Billion)
19. Canada Medical Device Coating, By Product, 2021–2029 (USD Billion)
20. Canada Medical Device Coating, By Application, 2021–2029 (USD Billion)
21. Mexico Medical Device Coating, By Product, 2021–2029 (USD Billion)
22. Mexico Medical Device Coating, By Application, 2021–2029 (USD Billion)
23. Europe Medical Device Coating, By Product, 2021–2029 (USD Billion)
24. Europe Medical Device Coating, By Application, 2021–2029 (USD Billion)
25. Germany Medical Device Coating, By Product, 2021–2029 (USD Billion)
26. Germany Medical Device Coating, By Application, 2021–2029 (USD Billion)
27. France Medical Device Coating, By Product, 2021–2029 (USD Billion)
28. France Medical Device Coating, By Application, 2021–2029 (USD Billion)
29. UK Medical Device Coating, By Product, 2021–2029 (USD Billion)
30. UK Medical Device Coating, By Application, 2021–2029 (USD Billion)
31. Italy Medical Device Coating, By Product, 2021–2029 (USD Billion)
32. Italy Medical Device Coating, By Application, 2021–2029 (USD Billion)
33. Spain Medical Device Coating, By Product, 2021–2029 (USD Billion)
34. Spain Medical Device Coating, By Application, 2021–2029 (USD Billion)
35. Asia Pacific Medical Device Coating, By Product, 2021–2029 (USD Billion)
36. Asia Pacific Medical Device Coating, By Application, 2021–2029 (USD Billion)
37. Japan Medical Device Coating, By Product, 2021–2029 (USD Billion)
38. Japan Medical Device Coating, By Application, 2021–2029 (USD Billion)
39. China Medical Device Coating, By Product, 2021–2029 (USD Billion)
40. China Medical Device Coating, By Application, 2021–2029 (USD Billion)
41. India Medical Device Coating, By Product, 2021–2029 (USD Billion)
42. India Medical Device Coating, By Application, 2021–2029 (USD Billion)
43. South America Medical Device Coating, By Product, 2021–2029 (USD Billion)
44. South America Medical Device Coating, By Application, 2021–2029 (USD Billion)
45. Brazil Medical Device Coating, By Product, 2021–2029 (USD Billion)
46. Brazil Medical Device Coating, By Application, 2021–2029 (USD Billion)
47. Middle East and Africa Medical Device Coating, By Product, 2021–2029 (USD Billion)
48. Middle East and Africa Medical Device Coating, By Application, 2021–2029 (USD Billion)
49. UAE Medical Device Coating, By Product, 2021–2029 (USD Billion)
50. UAE Medical Device Coating, By Application, 2021–2029 (USD Billion)
51. South Africa Medical Device Coating, By Product, 2021–2029 (USD Billion)
52. South Africa Medical Device Coating, By Application, 2021–2029 (USD Billion) 
53. Global Medical Device Coating Segmentation
54. Medical Device Coating: Research Methodology
55. Market Size Estimation Methodology: Bottom-Up Approach
56. Market Size Estimation Methodology: Top-Down Approach
57. Data Triangulation
58. Porter’s Five Forces Analysis
59. Value Chain Analysis
60. Global Medical Device Coating Attractiveness Analysis By Product
61. Global Medical Device Coating Attractiveness Analysis By Application
62. Global Medical Device Coating Attractiveness Analysis By Region
63. Global Medical Device Coating: Dynamics
64. Global Medical Device Coating Share By Product (2021 & 2029)
65. Global Medical Device Coating Share By Application (2021 & 2029)
66. Global Medical Device Coating Share by Regions (2021 & 2029)
67. Global Medical Device Coating Share by Company (2020)