Global Medical Device Coating Market Antimicrobial, Drug-Eluting, Hydrophilic and Anti Therombogenic, Analysis of Industry grow at a CAGR of 5.16%|Type, Application and Region Global Trend and Forecast To 2023

Market Overview

Market Research Future will be publishing a Cooked Research Report on 

“Global Medical Device Coating Market ” that contains the information from 2016 to 2023. Medical Device Coating Market is expected to grow at a CAGR 5.16% during forecast period 2016-2023.

The on-going COVID-19 pandemic across the globe has brought severe impacts on the medical device coating manufacturing due to the supply disruption caused during the lockdown. There has been a significant hindrance in export and import as well, which is predicted to further obstruct the trade expansion. On the other hand, the increasing need for protective devices or other medical equipment is projected to boost the medical device coating industry.

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Market Dynamics

The increasing demand for ventilators, stents, mandrels, syringes, and other protection devices in the healthcare sector is predicted to propel the industry during the projection period. In addition, the rising COVID-19 cases and the increasing government expenditure on healthcare are anticipated to be other salient cause that can develop the global market in the coming period. In addition, the coatings are likely to witness a surged demand due to their thermal stability and dry-film lubricity that can propel the market significantly in the forecast tenure.

Segment Analysis:

Global Medical Device Coating Market has been segmented on the basis of type, application, and region.

On the basis of type, the market has been divided into antimicrobial, drug-eluting, hydrophilic, and anti therombogenic Medical Device Coating. The antimicrobial medical device coating segment is holding the major share of the overall market demand for Medical Device Coatings. The Antimicrobial Medical Device Coating is projected to grow at a considerable CAGR due to the growing need to avoid bacterial colonization on the orthopaedic implant surfaces. The hydrophilic Medical Device Coating is another significant segment in the Global Medical Device Coating Market, which is estimated to grow the highest CAGR of 5.81%, during the review period.

Competitive Landscape

New Product Launches to Increase the Competition of the Market

The growing focus on new product launches and increasing partnerships among the established players are expected to make the competition grow fierce.

Industry News

December 2020: Garwood Medical Devices, a US-based medical device company, and the University of Buffalo research team have won a federal grant of USD 749,000 to evaluate a medical device to prevent and eliminate bacterial biofilm infections associated with orthopedic implants.

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Regional Analysis:

Geographically, the Global Medical Device Coating Market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. According to MRFR analysis, North America accounted for the largest share of the market in 2016, and is expected to grow at a high CAGR. The North American market is followed by Europe, which is accounted for the second largest number of shares in the Global Medical Device Coatings Market as of 2016. Europe is estimated to reach USD 2,763.0 million by 2023. Asia Pacific is a substantial region in the market, which accounts for 20% share of market as of 2016 and is growing at the highest CAGR of 6.39 %. China is the leading market, in terms of value and volume, which is followed by the U.S.

Key Players

• Speciality Coating Systems Inc (U.S.)
• Royal DSM N.V (The Netherlands)
• Biocoat Incorporated (U.S.).Surmodics Inc. (U.S.)
• Precision Coating Company Inc (U.S.).
• Materion Corporation (U.S.)
• Hydromer Inc (U.S.)
• Sono-Tek Corp (U.S.)

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