Medical Device Coating Market 2019 Industry and forecast to 2023 report analyzed the world's main region market conditions, including the product price, profit, capacity, production, capacity utilization, supply, analysis, size, share, demand and industry growth rate etc. In the end, the report introduced new project SWOT analysis, investment feasibility analysis, and investment return analysis.

Medical Device Coating Market is expected to grow at a CAGR of 5.16% to reach USD 10,109.7 million by 2023. The primary factors responsible for this growth includes the increasing geriatric population, growing demand for MISI (Minimal Invasive Surgical Instrument), and continuous innovation in the medical devices.

Medical Device Coating Market Synopsis:

Medical Device Coating is an integral factor to ensure patient’s safety & the extended durability of the devices.  In addition to providing protection against susceptible attacks of various microbial factors and other pathogens, the coating also offers resistance to corrosion & friction, increasing the lubricity of the various types of devices and implants. Patient’s safety being a paramount concern, it drives the demand for the Medical Device Coating, in turn, driving the market growth pervasively.

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Key Players

The major contenders in the medical device coating market are Materion Corporation (U.S.), Surmodics, Inc. (U.S.), Hydromer Inc (U.S.), Speciality Coating Systems Inc (U.S.), Sono-Tek Corp (U.S.), Precision Coating Company, Inc (U.S.)., Royal DSM N.V (The Netherlands), and Biocoat Incorporated (U.S.).

Medical Devices remain among one of the main pillars, the burgeoning healthcare sector is standing on today.  Rising healthcare expenditures backed by the awareness towards the healthcare has stimulated the demand for early detection and non-invasive therapies, further stimulating the development of various innovative & connected products such as wearable medical devices & etc.   The growth of Medical Devices market quite explains the demand & growth of the Global Medical Device Coating Market. Needless to say, that the market is ever increasing.

Industry/ Innovation/ Related News:          

March 20, 2019 – DSM Biomedical (the Netherlands), a global science company active in health, nutrition, and materials, launched a dedicated website for its technology - Uralac®, a breakthrough technology, enabling powder coating of heat-sensitive substrates such as MDF (medium-density fiberboard).

February 01, 2019 – Surface Solutions (US) announced that its the Cathodic-arc PVD coating services, that can increase the life of a device by providing a harder, more lubricious and wear-resistant surface is increasingly used by medical device manufacturers to enhance their devices’ performance and to design their devices with the unrivalled (distinguishing)  appearance, among similar products. Also, the hard, biocompatible, inert coatings don’t react with tissue, bone or bodily fluids.

December 20, 2017 - West Pharmaceutical Services (US), a leading global manufacturer in the design and production of hi-tech delivery systems for injectable medicines, launched FluroTec barrier film, a coating film to be applied to elastomer closures as well as plunger or piston & components for syringe or cartridge-based technologies used with auto-injector and pen systems.

Competitive Analysis:

The market is demonstrating a huge deal of potential for increasing at an expedited pace. The product offering of the market has diversified tremendously as compared to the past few years, thereby making the market more lucrative for current and new contenders. The market is very well defined in terms of segments involving the products as well as the end users that are a part of the market. The market attractiveness and competitors’ dynamics are deeply enhanced by the strategies that are being employed by market players. The improved financial liquidity of the competitors in the market has increased thereby proving new opportunities for growth of the market. The long term sustainability of the market is however greatly dependent on the tactics and the strategic roadmaps that are employed by market players.

Segments:

The Segment - Antimicrobial by coating Types dominated the market with the largest share and is estimated to grow at a considerable CAGR during the forecast period.

Whereas segment Hydrophilic Coating will account for the dominating segment, expected to grow at 5.81% of a CAGR.

While Segment Cardiovascular by applications is expected to expand rapidly to reach USD 4,320.3 million by 2023 due to the wide penetration of medical devices in cardiac surgeries and pacemakers.

On the other hand, Segment Cardiology followed by orthopaedic and neurology segments will be registering a higher CAGR during 2017-2023.

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Detailed Regional Analysis:

The regional analysis of the medical device coating market globally is segmented into regions such as Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The North American region is accountable for the principal market share as of 2016 and is estimated to develop at a substantial CAGR for the duration of the forecast period. The North American region is leading the market owing to the availability of considerable number of medical devices manufacturers in this region. The North American region is trailed by the European region, which is responsible for the next major market share and it is expected to achieve USD 2,763.0 million by the end of 2023. Germany is responsible for the maximum market share in the European region and is estimated to continue its dominance through the forecast period due to elevated penetration of end user industries in the nation. The Asia Pacific region is also a significant region in the medical device coating market, which is anticipated to develop at the top CAGR of 6.39 percent through the forecast period. China leads the Asia Pacific market in terms of both volume and value. The Asia Pacific region is followed by the Latin America and the Middle East & Africa region which anticipated to develop at a reasonable rate through the forecast period.

Intended Audience

• Investors and Trade experts
• Government, Associations and Industrial Bodies
• Suppliers and Traders
• Manufacturers and Distributors of Medical Device Coatings
• Manufacturers and Distributors of Medical Device Coatings
• Consulting in Chemical Experts

LIST OF TABLES

Table 1 World Population By Major Regions (2015 To 2030) (Million)

Table 2 Global Medical Device Coatings  Market: By Region, 2014-2022 (USD Million)

Table 3 North America Medical Device Coatings  Market: By Country, 2014-2022 (USD Million)

Table 4 Europe Medical Device Coatings  Market: By Country, 2014-2022 (USD Million)

Table 5 Asia-Pacific Medical Device Coatings  Market: By Country, 2014-2022 (USD Million)