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Medical Coatings Market Forecasts to 2028 - Global Analysis By Type (Hydrophilic, Anti-Microbial, Anti-Thrombogenic, Drug-Eluting, Lubricants, Other Types), Substrate Type (Polymer, Metals, Ceramics, Glass, Composite, Silicone), and others
Estimated Year Value (2022)
US $4.41 BN
Projected Year Value (2028)
US $8.62 BN
CAGR (2022 - 2028)
North America, Europe, Asia Pacific, South America, and Middle East & Africa
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa
Fastest Growing Market
According to Stratistics MRC, the Global Medical Coatings Market is accounted for $4.41 billion in 2022 and is expected to reach $8.62 billion by 2028 growing at a CAGR of 11.8% during the forecast period. Medical coatings should be sterilizable on all substrates, including metals, glass, plastic, silicone rubber, and the majority of other substrate types. Medical coatings are extensively utilised to develop device performance and product surface functionality. Additionally, coatings contribute to wetting, surface covering, and coating homogeneity while lowering friction among tissues and devices.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. According to the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%).
Increasing use of minimally invasive surgical procedures
Any surgical procedure performed through a small slit rather than a large breach is referred to as minimally invasive surgery. Minimally Invasive Surgery (MIS) has become increasingly popular over the past 20 years, and there is still plenty of space for expansion. The emergence of MIS procedures was largely aided by the convergence of multiple technologies, particularly those from the digital and electronic industries, which allowed device manufacturers to build more precise, less expensive, and simpler to use devices for a wider range of processes.
High upfront costs and increasing raw material prices
The production of medical coatings is extremely expensive both initially and over time. In order to avoid paying royalties, medical coating inventors are not allowed to create new coatings based on older or expired patents because there are so many of them in this industry. Therefore, in order to utilise outdated technologies, upfront expenditures are necessary. This aspect is preventing this market's expansion. The creation of new medicinal coatings includes expensive legal backbiting and other costs. The medical coatings market's growth is restrained by the rising cost of raw ingredients like silicone rubber and Polytetrafluoroethylene (PTFE).
High Demand from the Medical Device Industry
The demand for medical devices that can navigate through complicated and sophisticated bodily parts, such as cameras, diagnostic tests, ventilators, surgical equipment, implants, and others, has increased as a result of heightened healthcare issues. In order to reduce tissue injury and make it easier to put these devices into twisted and delicate capillaries, hydrophilic coatings are used. To accomplish highly skilled activities utilising specialised tools, higher degrees of knowledge and surgical teams involving endoscopic surgeons and radiologists are needed. The demand for specialist tools and equipment, such as visualisation scanners, endoscopic cameras, nonmagnetic monitors, contrast injectors, specialised catheters, and pricey robotic systems, has increased as a result of the restricted visibility and range of motion. Modifying medical devices with medical coatings and biomaterials is one of the most efficient ways to prevent device associated infections.
Stringent & Time-Consuming Regulatory Guidelines
The medical coatings must be accepted or permitted by regulatory bodies. Some of the medical coatings producers are working on various tests to preserve a master file with FDA which represents different process involved with the particular product. The manufacturer can incorporate it by referring to the regulatory bodies. This is time saving for medical coating. However, the sanction from regulatory is time consuming. Modifications in regulations may affect the medical coatings manufacturers.
The outbreak of COVID-19 highlighted the need for proper medical equipment. Regulations issued by Emergency Use Authorizations (EUAs) expanded the availability and capability of medical devices. Such regulations increased the demand for coatings that protect medical devices, which helped in creating demand for medical coatings.
The hydrophilic segment is expected to be the largest during the forecast period
Hydrophilic coatings have features such as lubricate, stability, low resistance coefficient, and low particulate count. Hydrophilic coatings are water- or fluid-repellent and hence suitable for medical equipment. Minimal invasion and easy insertion of medical devices in biological openings offered by the hydrophilic coatings and excellent water repellent properties exhibited by the hydrophobic coatings are responsible for the large market size of passive medial coatings.
The medical devices segment is expected to have the highest CAGR during the forecast period
The medical devices segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the raise in demand for medical devices all over the globe. The pandemic has further enlarged the demand for medical devices, such as catheters, guide wires, endotracheal tubes, positive pressure breathing devices, in-vitro diagnostic devices, cannulas, ventilators, ventilator accessories, infusion pumps, respirators, and other devices. The improved growth from the developing nations has additional boosted the medical devices segment in the medical coatings market.
Region with highest share:
North America is projected to hold the largest market share during the forecast period owing to the high breach of advanced healthcare infrastructure. The U.S. is one among the leading countries in the region owed to R&D actions and medical services, which is predicted to hold up the market growth.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, owing to rising residents, increasing percentage of the geriatric population, developing healthcare investments, and growing income levels in the region are the main drivers for the medical coatings market in this region. Positive changes in the infrastructure of the healthcare system and public-private partnerships have been made in the Asia Pacific region's healthcare sector.
Key players in the market
Some of the key players profiled in the Medical Coatings Market include Hydromer, Specialty Coating Systems Inc., Abbott, Endura Coatings, Merit Medical Systems, Inc., Covalon Technologies Ltd, Medicoat AG, Surmodics Inc., Biocoat Incorporated., Koninklijke DSM N.V., AST Products, Inc., Precision Coating Company Inc., Harland Medical Systems, Inc., Bayer AG, DuPont, Medtronic PLC, N2 Biomedical and Olympus Corporation.
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.
In February 2020, Biocoat launched of HYDAK UV. The new version of its original HYDAK coating is cured using ultraviolet (UV) light. This coating allows for flexible integration with industrystandard UV coating systems. This development has expanded the company’s product portfolio.
In February 2018, Abbott and Surmodics entered into an agreement, under which, Abbott will have exclusive worldwide commercialization rights for Surmodics' SurVeil drug-coated balloons. These balloons are under the US pivotal clinical trial to treat superficial femoral artery.
• Other Types
Substrate Types Covered:
• Other Substrate Types
Coating Types Covered:
• Active Coatings
• Passive Coatings
• Other Coating Types
• Medical Equipment & Tools
• Medical Device
• Protective Clothing
• Medical Implants
• Urology and Gastroenterology
• Surgical Instruments
• Other Applications
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Medical Coatings Market, By Type
5.7 Other Types
6 Global Medical Coatings Market, By Substrate Type
6.10 Other Substrate Types
7 Global Medical Coatings Market, By Coating Type
7.2 Active Coatings
7.3 Passive Coatings
7.4 Other Coating Types
8 Global Medical Coatings Market, By Application
8.2 Medical Equipment & Tools
8.3 Medical Device
8.4 Protective Clothing
8.5 Medical Implants
8.7 Urology and Gastroenterology
8.8 Surgical Instruments
8.9 Other Applications
9 Global Medical Coatings Market, By Geography
9.2 North America
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.5 Other Key Strategies
11 Company Profiling
11.2 Specialty Coating Systems Inc.
11.4 Endura Coatings
11.5 Merit Medical Systems, Inc.
11.6 Covalon Technologies Ltd
11.7 Medicoat AG
11.8 Surmodics Inc.
11.9 Biocoat Incorporated.
11.10 Koninklijke DSM N.V.
11.11 AST Products, Inc.
11.12 Precision Coating Company Inc.
11.13 Harland Medical Systems, Inc.
11.14 Bayer AG
11.16 Medtronic PLC
11.17 N2 Biomedical
11.18 Olympus Corporation
List of Tables
1 Global Medical Coatings Market Outlook, By Region (2020-2028) ($MN)
2 Global Medical Coatings Market Outlook, By Type (2020-2028) ($MN)
3 Global Medical Coatings Market Outlook, By Hydrophilic (2020-2028) ($MN)
4 Global Medical Coatings Market Outlook, By Anti-Microbial (2020-2028) ($MN)
5 Global Medical Coatings Market Outlook, By Anti-Thrombogenic (2020-2028) ($MN)
6 Global Medical Coatings Market Outlook, By Drug-Eluting (2020-2028) ($MN)
7 Global Medical Coatings Market Outlook, By Lubricants (2020-2028) ($MN)
8 Global Medical Coatings Market Outlook, By Other Types (2020-2028) ($MN)
9 Global Medical Coatings Market Outlook, By Substrate Type (2020-2028) ($MN)
10 Global Medical Coatings Market Outlook, By Polymer (2020-2028) ($MN)
11 Global Medical Coatings Market Outlook, By Metals (2020-2028) ($MN)
12 Global Medical Coatings Market Outlook, By Ceramics (2020-2028) ($MN)
13 Global Medical Coatings Market Outlook, By Glass (2020-2028) ($MN)
14 Global Medical Coatings Market Outlook, By Composite (2020-2028) ($MN)
15 Global Medical Coatings Market Outlook, By Silicone (2020-2028) ($MN)
16 Global Medical Coatings Market Outlook, By Parylene (2020-2028) ($MN)
17 Global Medical Coatings Market Outlook, By Fluoropolymer (2020-2028) ($MN)
18 Global Medical Coatings Market Outlook, By Other Substrate Types (2020-2028) ($MN)
19 Global Medical Coatings Market Outlook, By Coating Type (2020-2028) ($MN)
20 Global Medical Coatings Market Outlook, By Active Coatings (2020-2028) ($MN)
21 Global Medical Coatings Market Outlook, By Passive Coatings (2020-2028) ($MN)
22 Global Medical Coatings Market Outlook, By Other Coating Types (2020-2028) ($MN)
23 Global Medical Coatings Market Outlook, By Application (2020-2028) ($MN)
24 Global Medical Coatings Market Outlook, By Medical Equipment & Tools (2020-2028) ($MN)
25 Global Medical Coatings Market Outlook, By Medical Device (2020-2028) ($MN)
26 Global Medical Coatings Market Outlook, By Protective Clothing (2020-2028) ($MN)
27 Global Medical Coatings Market Outlook, By Medical Implants (2020-2028) ($MN)
28 Global Medical Coatings Market Outlook, By Cardiovascular (2020-2028) ($MN)
29 Global Medical Coatings Market Outlook, By Urology and Gastroenterology (2020-2028) ($MN)
30 Global Medical Coatings Market Outlook, By Surgical Instruments (2020-2028) ($MN)
31 Global Medical Coatings Market Outlook, By Other Applications (2020-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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