The global medical device coating market size is expected to reach USD 23.85 billion by 2030, registering a CAGR of 8.0% from 2023 to 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rising demand for cardiovascular devices, stents, ventilators, sutures, guide wires, syringes, catheters, mandrels, and other protective equipment used in the healthcare sector. In addition, factors, such as the growing demand for early detection and non-invasive treatments, as well as high-quality healthcare, are anticipated to drive the growth of medical devices, which is projected to fuel the demand in the coming years.Medical Device Coatings (MDCs) are materials that improve a device’s performance and mobility.
MDCs are used in protecting the surfaces of several equipment, including those used in neurology, dentistry, and other fields. Moreover, these coatings are applied to a variety of instruments used in healthcare, including those used in general surgery, cardiology, orthopedics, dentistry, implants, neurology, gynecology, and other fields.North America dominated the industry in 2022. As per the statistics of the Centers for Medicare & Medicaid Services, the national health expenditure in the U.S. grew by 2.7% to USD 4.3 trillion in 2021. Also, private health insurance spending grew by 9.2% to USD 734.0 billion in 2021. The increasing spending on Medicare, private health insurance, and prescription drugs in the U.S. is predicted to boost product demand in the region over the forecast period.
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The antimicrobial coatings segment is projected to grow at the highest growth rate over the forecast period owing to their low price and high compatibility with different materials, such as carbon fiber, composite materials, metal, plastic, and stainless steel
The prevalence of infections, such as pneumonia associated with ventilators and catheter-associated urinary tract infections, is forcing medical equipment manufacturers to coat their products with anti-microbial agents
The cardiovascular application segment dominated the industryin 2022 due to the increasing cases of heart diseases and the rising adoption of implants and cardiac pacemakers among heart patients
Asia Pacific is expected to witness the fastest growth rate over the forecast period due to the growing number of healthcare facilities in the region
Grand View Research has segmented the global medical device coating market on the basis of product, application, and region:
Medical Device Coating Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Hydrophilic Coatings
Antimicrobial Coatings
Drug-eluting Coatings
Anti-thrombogenic Coatings
Others
Medical Device Coating Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Neurology
Orthopedics
General Surgery
Cardiovascular
Dentistry
Gynecology
Others
Medical Device Coating Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Asia Pacific
China
India
Japan
South Korea
ASEAN
Central & South America
Brazil
Argentina
Chile
Middle East & Africa
UAE
South Africa
List of Key Players of Medical Device Coating Market
SurModics, Inc.
Sono-Tek Corp.
DSM
Hydromer, Inc.
Covalon Technologies Ltd.
Infinita Biotech Pvt. Ltd.
Materion Corp.
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