Medical Device Coatings Market: Global Size, Share, Trends, Growth and Forecast Outlook 2022-2032
Medical Device Coatings Market: Overview and Definition
The global medical device coatings market is expected to grow from USD 6.8 billion in 2021 to USD 14.8 billion in 2032, at a growth rate of 8.9% during the forecast period 2022-2032. The growth in this market is due to rising income levels in developing nations, increased percentage of geriatric population, and increased use of healthcare facilities. The growth of the medical coatings market can also be attributed to increased demand for minimally invasive surgical procedures.
The medical device coatings market is a growing industry that provides specialized coatings to enhance the performance and safety of medical devices. These coatings are designed to improve the biocompatibility, durability, and functionality of devices used in various medical procedures. The market is driven by the increasing demand for minimally invasive surgical procedures, rising prevalence of chronic diseases, and the growing adoption of advanced medical technologies.
Medical Device Coatings Market: Key Drivers
The medical device coatings market is driven by several factors, including:
Increasing demand for minimally invasive surgical procedures: Minimally invasive procedures are becoming more popular due to their lower risk of complications, reduced recovery time, and lower cost. Coatings for medical devices are essential in these procedures, as they can enhance the performance and biocompatibility of devices used.
Growing prevalence of chronic diseases: The increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases is driving the demand for medical devices. Coatings are necessary for these devices to ensure they perform optimally and are safe for use.
Advancements in medical technology: Advances in medical technology have led to the development of more complex medical devices. These devices require advanced coatings to ensure their performance and safety.
Increasing demand for antimicrobial coatings: With the rise of antibiotic-resistant bacteria, there is a growing need for medical devices with antimicrobial coatings that can reduce the risk of infection.
Growing demand for personalized medicine: The increasing trend towards personalized medicine is driving the demand for medical devices that are tailored to individual patients. Coatings can be used to customize devices to meet the unique needs of each patient.
Doctors use various techniques to operate with less damage to the body than with open surgery in minimally invasive surgery. This is because there is less pain in minimally invasive surgery, a shorter hospital stay, and fewer complications. This type of surgery has many benefits as compared to traditional open surgery techniques. And, this surgery also has a higher accuracy rate as compared to traditional open surgery.
The increase in the rise of diseases such as arthritis, cancer, and cardiovascular diseases, which require complex surgical treatment, has drastically increased the demand for minimally invasive procedures. Hence, there is a boost in consumption of lightweight medical devices, such as intravascular catheters, guidewires, balloon angioplasty catheters, delivery sheaths, and implant delivery systems that can navigate through complex and sensitive parts of the body. Such devices are increasingly used during minimally invasive procedures in cerebrovascular, cardiovascular, and peripheral vascular systems. These medical devices often have hydrophilic and hydrophobic coatings for easy insertion of such devices into narrow vascular areas with reduced tissue damage. Therefore, medical coatings play a major role in promoting cost efficiency and less time consumption and are highly preferred in these medical procedures. For example, medical coatings on devices for cardiac and urinary catheterization procedures significantly reduce the time taken for the concerned medical or surgical procedure. The manufacturing of medical coatings has huge up-front and continuing costs. As there are many expired or old patents, medical coating developers cannot develop new coatings based on past patents to avoid royalty. Therefore, to access such expired technology, up-front payment is required. This is restraining the growth of this market.
To enable the explosion of technology improvements, up-front costs and hassles need to be eliminated. This market is also restrained by the rising cost of raw materials, such as silicone rubber and PTFE. The applications of medical coatings are quite high due to their functional properties. Medical devices are used in the treatment, mitigation, diagnosis, and prevention of diseases and abnormal physical conditions; hence there is an increased focus on their advancement. Due to the continuous evolution of such devices, major focus areas are innovative imaging devices and systems, minimally invasive therapeutic products, combination device and drug/biological products, computerized devices and medical IT systems, home- and self-care products, patient monitoring systems, and artificial organs and organ-assistive products. A variety of materials are used to manufacture such devices since these devices have high degree of complexity. Moreover, the materials which are used to manufacture these devices are not necessarily biocompatible and hem-compatible. To give these devices desired properties, the demand for medical coatings is expected to increase.
Medical coatings can be required to cover the entire complex structure or just a part of the complex structure; thus a variety of materials are used in these medical devices. To demonstrate that such devices meet the required specifications, these medical devices need to undergo design verification tests. Moreover, the regulatory bodies necessarily do not approve coating separately. Medical Original Equipment Manufacturers (OEM) have various coating materials and methodology options to coat medical devices. The OEM benefit if the coating supplier is involved in the initial stage of the product development life cycle, which can positively impact development speed, efficiency, and cost. The coated devices need to be approved and cleared by regulatory bodies. To maintain high standards of quality, some coating manufacturers perform tests on their own. The passive coating segment in this industry has the largest overall share in this market. Hydrophilic coating is used widely on guidewires, catheters, and introducer sheaths to lower friction coefficient as these coatings have properties such as lubricity, durability, low friction coefficient, and low particulate count.
Medical Device Coatings Market: Challenges
The medical device coatings market faces several challenges, including:
Stringent regulations: The medical devices industry is highly regulated, with stringent regulations governing the safety and efficacy of medical devices. This can make it difficult for companies to bring new coatings to market, as they must meet these regulatory requirements.
Cost: Developing and manufacturing specialized coatings for medical devices can be expensive, which can limit their adoption in some markets.
Limited availability of raw materials: Some of the materials used in medical device coatings, such as certain polymers and biomaterials, may have limited availability or high cost, which can impact the availability and affordability of coatings.
Lack of standardization: There is a lack of standardization in the coatings used for medical devices, which can make it difficult for healthcare providers to compare different devices and make informed decisions about which device to use.
Competition: The market for coatings for medical devices is highly competitive, with many established players and new entrants competing for market share. This can make it challenging for new companies to enter the market and gain a foothold.
Medical Device Coatings Market : Report Scope
Base Year Market Size
Forecast Year Market Size
Medical Device Coatings Market: Segmentation
Based on coating type:
- Active coatings
- Passive coatings
Based on material type:
Based on the application:
- Medical Devices
- Medical Implants
- Medical Equipment & Tools
- Protective Clothing
Based on the region:
- North America (The U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Poland, Turkey, Switzerland, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, South Korea, Vietnam, Philippines, Malaysia, Indonesia, Thailand, and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Columbia, Argentina, Chile, and Rest of Latin America)
- Middle East & Africa (South Africa, Saudi Arabia, UAE, Oman, Egypt, and Rest of Middle East & Africa)
Medical Device Coatings Market: Regional Synopsis
The medical device coatings market is a global market with significant growth potential in various regions. North America is the largest market for coatings for medical devices, due to the high adoption of advanced medical technologies and the presence of several key market players. Europe is also a significant market, driven by the increasing prevalence of chronic diseases and the growing demand for minimally invasive procedures. The Asia Pacific region is expected to experience significant growth in the coming years, driven by the growing population, increasing healthcare spending, and rising demand for medical devices. Other regions such as Latin America, the Middle East, and Africa are also expected to see growth in the market, driven by improving healthcare infrastructure and rising awareness of the benefits of advanced medical technologies. However, the market dynamics, regulatory environment, and competitive landscape can vary significantly from region to region, which can impact the growth and development of the medical device coatings market in each region.
Medical Device Coatings Market: Recent Developments
Some recent developments in the medical device coatings market include:
Development of nanotechnology-based coatings: Nanotechnology is being increasingly used to develop coatings with unique properties, such as enhanced biocompatibility and improved drug delivery. For example, researchers are developing nanocoatings for implantable medical devices that can reduce inflammation and promote tissue regeneration.
Advancements in antimicrobial coatings: Antimicrobial coatings are becoming more sophisticated, with researchers developing coatings that can kill bacteria, viruses, and fungi. Some coatings can also prevent biofilm formation on medical devices, which can reduce the risk of infection.
Integration of digital technologies: Some coatings are being developed to incorporate digital technologies, such as sensors and wireless communication, to monitor device performance and patient health.
Focus on sustainability: There is a growing focus on developing sustainable coatings for medical devices, using biodegradable and eco-friendly materials.
Collaborations and partnerships: Market players are increasingly collaborating and forming partnerships to develop new coatings and improve existing ones. For example, in 2021, DSM Biomedical and Castor announced a collaboration to develop a new lubricious coating for catheters, which can reduce friction and improve patient comfort.
Medical Device Coatings Market: Key Players
- Hydromer (US)
- Surmodics (US)
- Biocoat (US)
- AST products (US)
- DSM (Netherlands)