Medical Coatings Market Size, Share & Industry Analysis, By Type (Hydrophilic Coatings, Antimicrobial Coatings, Antithrombogenic Coatings, and Others), By Material Type (Fluoropolymer, Silicone, Parylene, Metals, and Others), By Application (Medical Device, Medical Implants, Medical Equipment & Tools, and Others), and Regional Forecast, 2024-2032

The global medical coatings market size was valued at USD 4.64 billion in 2023 and is projected to grow from USD 5.06 billion in 2024 to USD 10.85 billion by 2032, exhibiting a CAGR of 9.8% during the forecast period.

Any foreign object that is to be inserted inside a human body carries certain risks along with it; however, recent technological advancements and innovations in coating techniques have proven to be as important as medical equipment. There has been huge growth in the applications of medical coatings in the past few years. Nowadays, novel coating techniques include low-temperature atmospheric plasmas, laser treatments, and microblasting techniques that are being developed for the deposition of bioactive medical coatings.

The growing preference for antimicrobial coatings over disinfecting agents and other cleaning chemicals coupled with the ever-growing demand for minimally invasive surgical procedures is anticipated to fuel the market growth.

Industries and markets around the world were turned upside down by COVID-19, and this effect has been extremely dramatic in the medical device industry. However, while the effects of the pandemic were largely negative in many industries, the medical industry went through ups and downs since the pandemic.

Medical Coatings Market Trends

Development of Advanced Coating Technologies to Propel Market Growth

According to the World Health Organization (WHO), Healthcare-Associated Infections (HCAI), particularly those which are triggered by antimicrobial-resistant pathogens, are the most commonly occurring adverse events in healthcare organizations irrespective of availability of resources. There have been various technological advancements in coatings manufacturing techniques, materials, and application techniques over the years. Owing to an increasing prevalence of viral occurrences and contagious diseases, there has been a significant rise in R&D activities to develop various methods to curb the spread of infections.

Development of various anti-microbial and medical coatings is one such advancement. Incorporation of various components, materials, and production techniques to make them durable, safe, and non-toxic is one of the key trends followed by manufacturers. For instance, in April 2022, a U.K.-based biomaterial technology providing company launched TridAnt. TridAnt is an innovative coating technology developed for medical devices, which characterizes a paradigm shift in contagion inhibition and defense against an extensive array of pathogens.

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Medical Coatings Market Growth Factors

Increasing Use of Minimally Invasive Surgical Procedures to Encourage Lucrative Outcomes for Market Growth

Minimally invasive surgery refers to any surgical operation that is done through minor incisions instead of a large opening. Since the surgeon can make fewer incisions, it requires a shorter healing period and less pressure than conventional open surgery but with the same advantages as conventional surgery. Over the last two decades, there has been a significant rise in the adoption of Minimally Invasive Surgery (MIS) and there is much room for growth in the coming years.

Convergence of various technologies, principally from the digital and electronic industries that enabled device producers to manufacture smaller, accurate, and economical devices that are easier to operate for a growing range of procedures significantly encouraged the rise in use of MIS procedures. The growing incidences of cardiovascular diseases, arthritis, and cancer require complicated surgical care, which increases the need for minimally invasive procedures. This has increased the consumption of light medical instruments, such as intravascular catheters, balloon angioplasty catheters, implant delivery systems, delivery sheaths, and guide wires, that can pass through complicated and vulnerable areas of the body.

Medical-grade coatings play an important role due to their cost-effectiveness and less time consumption and are strongly favored in such medical procedures. For example, use of coatings on medical instruments for cardiac and urinary catheterization operations greatly decreases the time required for medical or surgical operation. These factors are expected to influence the market growth.

High Demand from the Medical Device Industry to Boost Market

As a result of heightened healthcare challenges, there has been an increased demand for medical devices, such as cameras, diagnostics tests, ventilators, surgical equipment, implants, and others, that can navigate through intricate and complex parts of the body. Hydrophilic coatings are employed to ease the insertion of these devices into twisted and thin vasculature and help to lessen tissue damage.

However, higher levels of expertise and surgical teams with endoscopic surgeons and radiologists are required to perform highly skilled actions using dedicated tools. As the visibility and range of motion are limited, there has been an increase in demand for special equipment and devices, including visualization scanners, endoscopic cameras, nonmagnetic monitors, contrast injectors, specialized catheters, and expensive robotic systems. These developments in surgical procedures, including the adoption of MIS procedures have considerably surged the demand for surgical and medical devices, further increasing the demand for medical coatings. To provide a safe environment to patients and staff, the healthcare industry has accelerated the adoption of antimicrobial-protected tools. One of the most effective methods to avoid device-associated infections is the modification of medical devices using medical coatings and biomaterials.

Increasing Awareness About Use of Medical Coatings is Driving Market Growth

In the recent past, there has been a significant rise in awareness regarding the use and necessity of medical coatings, which is anticipated to drive the market growth in the future. Medical coatings are crucial to uphold the general as well as specific sanitary and health standards of different medical procedures. Medical coatings maintain antimicrobial properties of medical devices and prevent the penetration of liquids. Polymer coatings make medical devices capable of holding air, which is required in the case of blood pressure cuffs, inflatable tourniquets, pressure infuser bags, casts, hyperbaric chambers, and ice/cold therapy devices. Medical coatings offer chemical stability to medical devices and also protect them from scratching, abrasion, and chipping. In a nutshell, increasing awareness about the advantages of the use of medical coatings, such as flame resistance, weldability, waterproofing, thermal resistance, durability, abrasion resistance, air holding capabilities, noise abatement capabilities, and  antimicrobial properties, is anticipated to significantly drive the market growth.

RESTRAINING FACTORS

Increasing Raw Material Prices and High Upfront Costs to Thwart Development

Fluctuations in raw materials costs directly impact the cost of coatings production. As various types of chemicals are vital for the assessment of the properties of the substrate on which the coating is to be applied, the consistency of the prices of these chemicals helps to control the total production costs of the coatings. Increasing cost of raw materials, such as silicone rubber and PTFE, is expected to restrain the demand for the product.

Manufacturing of medical coatings entail major continuing and upfront costs. There are several old or obsolete patents, and medical coating companies are not permitted to produce new coatings based on previous patents to escape royalties. As a result, upfront payments are expected for access to expired technology. This is likely to hamper the growth of the market. The reduction of all upfront expenses and challenges is supposed to lead to an explosion in technological developments. Formulation of modern coatings in medical products includes legal wrangling, negotiating non-disclosure agreements, and other costs.

Medical Coatings Market Segmentation Analysis

By Type Analysis

Hydrophilic Coatings Segment to Hold a Significant Share Due to Rising Demand in Medical Devices

Based on type, the market is segmented into hydrophilic coatings, antimicrobial coatings, antithrombogenic coatings, and others. The hydrophilic coatings segment holds a largest share in the market. Hydrophilic coatings are a type of coatings employed to reduce surface friction and improve lubricity. In addition, advantages such as optical transparency and the ability to withstand maintenance procedures, including storage, sterility, and cleaning are anticipated to increase the product demand.

The antimicrobial coatings segment is anticipated to expand at a quick pace during the forecast period. Antimicrobial coatings are employed in medical products, medical appliances, and on surfaces to curb infection from spreading. Increasing awareness concerning COVID-19 is expected to escalate the demand for antimicrobial coatings in the healthcare sector. Antimicrobial coating is a benign and effectual way of preventing odor growth producing microbes in hospitals, medical equipment, and water filters and is approved by the EPA for use in HVAC systems.

By Material Type Analysis

Fluoropolymer to Emerge as Leading Segment Due to Its Non-Wetting and Inert Nature

In terms of material type, the market is segmented into fluoropolymer, silicone, parylene, metals, and others. The fluoropolymer segment constituted the primary market share. Fluoropolymers are non-wetting and inert, which prevent almost every substance from adhering and reacting with a coated surface. They have a non-porous, durable, and smooth structure. These properties make fluoropolymers appropriate for various applications such as anesthesia delivery, agitating shafts, sterilization equipment, centrifuge components, saline packaging, implants, tubes, surgical tools, and others.

The market for parylene conformal coating is expected to witness fastest growth rate during the forecast period. In the medical coatings industry, parylene is used due to its protective and mechanical properties. The coating created by parylene is thin and transparent, which makes it a perfect option for optical applications. Parylene coatings is biocompatible, chemically inert, and FDA-approved, and thus can be used in medical implants. Common applications of parylene coatings include human implantable devices, surgical devices, and other electronic equipment.

By Application Analysis

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Medical Device Segment to be the Leading Segment Due to Rise in Geriatric Population

Based on application, the market is classified into medical devices, medical implants, medical equipment & tools, and others. Various types of coatings are used for coating medical devices, including hydrophilic, hydrophobic, antimicrobial, antithrombogenic, and other coatings.

Medical devices are efficient in providing healthcare and improving the health of individuals. Increasing R&D and rising technological advancements in the medical sector have opened a wide range of application areas for various medical devices. Increasing rate of geriatric population worldwide is one of the key factors that is surging the demand for medical devices, which is further estimated to boost the market.

Medical equipment & tools are most commonly used medical objects, which are highly exposed to cell debris, blood, bacteria, and other unwanted objects that can cause contamination and spreading of infections. They require regular sterilization and cleaning to avoid the building up of bacteria and germs. Medical coatings are used to avoid the deposition of foreign objects and chemicals on tools as well as eliminate the risk of cross-contamination.

REGIONAL INSIGHTS

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The market size in North America was valued at USD 2.52 billion in 2023. North America dominated the market in 2023. High penetration and growing medical infrastructure of advanced surgical treatments in the U.S. is expected to surge the product demand in the coming years. The U.S. is one of the major markets for medical devices coupled with medical research & development facilities, thereby driving the market growth.

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Europe is expected to procure a significant medical coatings market value during the forecast period due to rising cases of obesity, surging cardiac ailments, and expanding geriatric population. Also, the U.K. and Germany are anticipated to further develop the European market and are predicted to increase the adoption of medical coatings products during the forecast period. Germany’s medical device segment is the largest in Europe and the third largest globally. The medical industry continues to grow and is likely to introduce technologies to the healthcare sector.

The Asia Pacific medical coatings market share is expected to be the fastest growing during the forecast timeframe. This is attributable to the rise in healthcare spending in China and India. China and India are the major medical device manufacturers in the Asia Pacific region, owing to increased sales in the medical coating industry in the region. Increasing patient awareness of minimally invasive surgery is driving the global medical device coating market in the region. In addition, the growth outlook for the healthcare industry in China and India, coupled with emerging markets, is expected to drive the global market to some extent. Increased interest in people's health and well-being, coupled with increased disposable income, is expected to further increase the demand for better medical facilities in the future.

The economic conditions of Latin America are growing at a considerable pace, which is expected to aid the development of various sectors, including medical and healthcare. Mexico has the largest pharmaceutical industry in the region after Brazil. Latin America is expected to adopt technically advanced solutions for the healthcare system, thus driving the industry growth.

South Africa dominates the Middle East & Africa market in terms of market share during the forecast period. Growing government initiatives to develop the healthcare industry, steadily increasing elderly population, and rising number of chronic diseases are likely to surge the demand for antimicrobial coatings.

List of Key Companies in Medical Coatings Market

Formation of Strategic Alliances to Improvise Market Players’ Businesses

Companies working in the market are selling their goods with customized services. As the chemical composition of the product varies on the basis of its use, the firms offer a wide variety of technological services to consumers. Companies in the market differ on the basis of the standard of the goods and the equipment used for the manufacturing of the product. Global key players focus more on expanding their production plants, building infrastructure, and engaging in R&D. Market players are now searching for ways to integrate strategically through the value chain.

These initiatives help them satisfy growing global demand, maintain competitive productivity, strengthen their sales and strategic plans, produce new goods and technology, reduce their cost of production, and grow their customer base.

 LIST OF KEY COMPANIES PROFILED:

• Hydromer (U.S.)


• Harland Medical Systems, Inc. (U.S.)


• SURMODICS (U.S.)


• DSM (Netherlands)


• AST Products, Inc. (U.S.)


• Biocoat Incorporated (U.S.)


• Precision Coating Company, Inc (U.S.)


• Medicoat AG (Switzerland)


• Merit Medical Systems, Inc. (U.S.)


• Specialty Coating Systems Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• November 2023 - Surmodics, Inc. commercially launched its Preside hydrophilic medical device coating technology. The newly launched product offers enhanced coating durability and lubricity for the next-generation peripheral vascular, neurovascular, and coronary devices.


• April 2022 - Biocoat Inc., a manufacturer of hydrophilic biomaterials coatings and coating equipment for medical and devices, announced its expansion into hydrophilic dip coatings. The company is set to design, develop, and deliver the dip coating technology to coat medical devices.


• March 2022 - DSM Biomedical, a global player in biomaterials, and Svelte Medical Systems, a highly deliverable balloon expandable stents manufacturer, collaborated for the development of DISCREET Bioresorbable Coating Technology used with SLENDER IDS and DIRECT RX Bioresorbable Coated Drug-Eluting Stent (DES) Systems.


• May 2021 - Hydromer announced its selection as prime coatings and services partner for Avinger Inc. Its coatings are particularly selected for the intravascular image guided, catheter based systems for diagnosis and treatment for patients with Peripheral Artery Disease (PAD).


• June 2020 – Surmodics is a leading provider of surface modification and drug delivery that received CE mark for Abbott-backed paclitaxel-coated balloon that is used in treatment procedure for peripheral artery diseases. Abbott received the worldwide commercialization rights for SurVeil via an agreement with Surmodics.


• April 2019 – Hydromer Inc announced the advancements of manufacturing processes with the relocation of its headquarter to North Carolina.

REPORT COVERAGE

The report provides a detailed analysis of the industry and focuses on crucial aspects such as leading companies, products, and products. Also, it offers insights into medical coatings market trends and highlights vital industry developments. In addition, the report encompasses various factors contributing to the market's growth in recent years. It includes historical data & forecasts revenue growth at global, regional, and country levels and analyzes the industry's latest market dynamics and opportunities.

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Report Scope & Segmentation