Medical Coatings Market 2021 Outlook, Current and Future Industry Landscape Analysis 2026
Medical device components and electronics require protection to be effective. Electrical charges, moisture, bodily fluids, and contamination can render a life-saving device useless and ineffective. Medical coatings need to be ideal for most types of substrates, including metals, glass, plastics, ceramics, and silicone rubber, and should be sterilizable on all of them. Physico-mechanical coatings are those designed with physicomechanical properties such as moisture, chemical, and electrical barrier properties as well as tribological (lubricous) properties. The damage to the mucosal lining has led to the development of antimicrobial coatings with biological function (antimicrobial activity) and physicomechanical function (lubricity). Medical device coatings are significantly used to enhance the performance of devices and augment product surface function. In addition, coatings help in reducing friction between tissues and devices, provide wetting, surface coverage, and coating homogeneity. Most medical devices require non-stick coatings over electrical insulation, molded, biocompatible, or other finishes.
Medical Coating Market: Drivers
The increasing demand for coatings for life-saving devices from the medical industry is expected to increase the consumption of medical coatings. In addition, the rising demand for life-saving devices from emerging economies of the Asia Pacific and Latin America is expected to increase the consumption of medical coatings. However, the availability of substitutes, product aging, low shelf life, and rising costs could hamper the growth of this market. In addition, varying government regulations for medical devices across countries may hamper the growth of the medical device coating market to some extent.
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Medical Coating Market: Regional Outlook
North America has the largest market share for medical coating, followed by Europe and Asia Pacific. However, Asia Pacific is expected to experience the fastest growth during the forecast period. India and China are expected to be the major consumers of medical coatings in the Asia Pacific due to the presence of an established medical industry. Hong Kong, Australia, New Zealand, the Republic of Korea, Japan, Vietnam, Malaysia, and Indonesia are expected to be other major consumers of medical coatings in the Asia Pacific. In addition, Latin America is expected to experience high growth due to rapid economic development and growth in medical industries. Argentina, Brazil, and Peru are expected to be major consumers of medical coatings in Latin America.
Medical Coating Market: Key Players
Large and medium medical equipment and pharmaceutical manufacturing companies dominate the medical coatings market. Some of the key players in this market are SurModics, the DECC Company, Hangzhou Kangsheng Medical Equipments Co., Ltd., Yangzhou Fuda Medical Devices Co., Ltd., Precision Coating Co., Inc., Donwell Company, Inc., Merit Medical Systems, Inc., Harland Medical Systems, Applied Medical Coatings, LLC., Dymax Corporation, Raleigh Coatings, Abbott Laboratories, Biocoat Inc AeonClad, Bayer Material Science LLC, Boston Scientific Corporation, Covalon Technologies Ltd., Endura Coatings Ltd, Specialty Coating Systems Inc., and TheraSyn Pharmaceuticals Inc. among others.
Companies are using strategic acquisitions and mergers to increase their market share. In 2011, Kensey Nash, a medical device company focused on regenerative medicine, acquired the assets of Nerites, a developer of medical adhesives and anti-fouling coatings, for cash consideration of $20 million. In addition, companies are increasing their presence in the emerging markets of the Asia Pacific and Latin America to remain competitive in market. Furthermore, companies are investing in research and development to introduce various types of medical coatings with superior characteristics and features.
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The report covers exhaustive analysis on:
- Medical Coating Market Segments
- Medical Coating Market Dynamics
- Historical Actual Market Size, 2012 – 2014
- Medical Coating Market Size & Forecast 2016 to 2026
- Supply & Demand Value Chain
- Medical Coating Market Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
- Medical Coating Market Drivers and Restraints
Regional analysis for Medical Coating Market includes
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Medical Coating Market: Segmentation:
The medical coatings market is segmented on the basis of type, application, and region.
By type, a medical coating can be segmented into
- hydrophilic coatings
By application, the medical coating can be segmented into
- medical devices
- medical equipment
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint