Overview and Scope
Medical coating refers to a coating that is employed to reduce unfavorable side effects such as bacterial infection, blood clotting, and tissue trauma. Coating technology uses dry or water-based formulations, enabling processing without the use of solvents. The medical coatings market consists of sales of medical coatings by entities (organizations, sole traders, and partnerships) that are used for the absolute cleanliness and sterilization process of medical and surgical instruments.
Sizing and Forecast
The medical coatings market size has grown exponentially in recent years. It will grow from <b>$8.65 billion in 2023 to $10.5 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. </b> The growth in the historic period can be attributed to infection prevention, biocompatibility, advanced drug delivery, performance enhancement, regulatory compliance:
The medical coatings market size is expected to see exponential growth in the next few years. It will grow to <b>$23.01 billion in 2028 at a compound annual growth rate (CAGR) of 21.7%. </b> The growth in the forecast period can be attributed to nanotechnology advancements, minimally invasive surgery, remote monitoring, personalized medicine, biodegradable solutions. Major trends in the forecast period include antimicrobial coatings, drug-eluting coatings, biocompatible coatings, hydrophilic coatings, anti-adhesion coatings:
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Segmentation & Regional Insights
The medical coatings market covered in this report is segmented –
1) By Type: Anti-Microbial Coating, Hydrophilic Coating, Anti-Thrombogenic Coating, Other Types
2) By Material Type: Polymers, Metals, Other Material Types
3) By Application: Medical Devices, Medical Implants, Medical Equipment and Tools, Protective Clothing, Other Applications
<b>North America</b> was the largest region in the medical coatings market in 2023. <b>North America</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the medical coatings market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Rising occurrences of ischemic heart disease and chronic obstructive pulmonary disease are expected to propel the growth of the medical coatings market going forward. Ischemic heart disease refers to heart issues brought on by constricted heart arteries. Little blood and oxygen reach the heart muscle when arteries are narrow. Medical coatings are used to enhance various kinds of medical devices, such as general surgery devices and cardiovascular devices, to make them durable and prevent corrosion. For instance, in March 2023, according to the Centers for Disease Control and Prevention, a US-based national public health agency, stroke deaths increased from 38.8 per 100,000 people in 2020 to 41.1 per 100,000 people in 2021. In the United States, there are more than 795,000 strokes per year. Of these, 610,000 are first-time strokes. And ischemic strokes, in which the flow of blood to the brain is impeded, account for around 87% of all strokes. Therefore, rising occurrences of ischemic heart disease and chronic obstructive pulmonary disease are driving the growth of the medical coatings market.
Key Industry Players
Major companies operating in the medical coatings market include <b> Allvivo Vascular Inc., AST Products Inc., Biocoat Incorporated, Coatings2Go LLC, Covalon Technologies Ltd., Harland Medical Systems Inc., Hemoteq AG, Medicoat AG, Merit Medical Systems Inc., AeonClad Coatings LLC, Applied Medical Coatings LLC, Applied Membrane Technology Inc., Calico Coatings, Carmeda AB, Freudenberg Medical LLC, Hydromer Inc., Kisco Ltd., Materion Corp., DSM Biomedical B.V., Surmodics Medical Ltd., Precision Coating Company, BioInteractions Ltd., Sono-Tek Corporation, Specialty Coating Systems Inc., Biomerics LLC, EuroMed Inc., Innovative Surface Technologies, N2 Biomedical, Orchid Orthopedic Solutions, Plasma Coatings </b>
The medical coatings market report table of contents includes:
1. Executive Summary
2. Medical Coatings Market Characteristics
3. Medical Coatings Market Trends And Strategies
4. Medical Coatings Market – Macro Economic Scenario
5. Global Medical Coatings Market Size and Growth
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26. South America Medical Coatings Market
27. Brazil Medical Coatings Market
28. Middle East Medical Coatings Market
29. Africa Medical Coatings Market
30. Medical Coatings Market Competitive Landscape And Company Profiles
Top Major Players:
- Allvivo Vascular Inc
- AST Products Inc.
- Biocoat Incorporated
- Coatings2Go LLC
- Covalon Technologies Ltd
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