PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477106
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477106
Radiopaque Coatings Market size was valued at USD 897.56 Million in 2023, expanding at a CAGR of 4.5% from 2024 to 2032.
Materials used to make objects or substrates visible under X-ray or other imaging modalities are known as radiopaque coatings. These coatings include materials that, when exposed to X-rays, attenuate, or scatter the radiation. This causes the coated object to look opaque or to stand out against the backdrop in X-ray images. This characteristic makes radiopaque coatings useful in medical imaging, where they can be applied to improve the visibility of implants, medical equipment, and other body parts. In non-destructive testing (NDT) and industrial imaging, where accurate object recognition and localization are required, radiopaque coatings are also used.
Radiopaque Coatings Market- Market Dynamics
Growing product launches drive market growth
The growing product launches are expected to drive market growth during the forecast period. For instance, in December 2023, The Flexcon Global product line of polyester printable films and overlaminates for lifetime medical device labeling and tracking solutions was launched. Flexcon Global is the go-to source for cutting-edge coatings, film laminations, and functional technologies. The Food and Drug Administration's (FDA) unique device identification (UDI) rule for FDA Class I, II, and III medical devices used outside the body is satisfied by this series of label substrates. With a more straightforward product offering, MedFlex(R) products simplify complexity and make it simpler for specifiers and consumers to choose the right products for medical devices. All products are offered by Quick-Ship for purchase worldwide. These biocompatible adhesive labeling and over-laminating solutions, which have been proven in the industry, have a permanent solvent-based adhesive. The raw material components are controlled to guarantee constant quality and performance.
Radiopaque Coatings Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.5% over the forecast period (2024-2032)
Based on type segmentation, the Polymeric Coatings segment is expected to capture the largest revenue share over the projected period
Based on application segmentation, the Medical Devices and Implants segment is expected to hold a prominent market share over the forecast period
Based on region, North America is expected to dominate the market over the forecast period
The Global Radiopaque Coatings Market is segmented based on Type, Application and Region.
Based on the type, the Radiopaque Coatings market is bifurcated into Metal-Based Coatings, Polymeric Coatings, Ceramic-Based Coatings, Hybrid Coatings and Others. The Polymeric Coatings segment is expected to capture the largest revenue share over the projected period. Radiopaque fillers, including barium sulfate or iodinated chemicals, are incorporated into polymer matrices to create polymeric radiopaque coatings. These coatings are biocompatible, flexible, and can be tailored for certain medicinal uses. Devices used in interventional procedures, such as balloons, stents, and guidewires, frequently include polymeric coatings.
Based on the application, the global Radiopaque coating market is segmented into Medical Devices and Implants, Diagnostic Imaging, Non-Destructive Testing (NDT) and Others. The Medical Devices and Implants segment is expected to hold a prominent market share over the forecast period. To improve its visibility during X-rays, CT scans, fluoroscopies, and other imaging modalities, radiopaque coatings are widely employed in medical equipment and implants. During procedures, healthcare practitioners can precisely position and track gadgets thanks to these coatings. Dental, orthopedic, vascular, guidewire, stent, and catheter implants are a few common examples.
Radiopaque Coatings Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market over the forecast period. The regional market expansion is attributed to the rising prevalence of chronic diseases such as CVD, orthopedic implants and others. For instance, a study released today in the Journal of the American College of Cardiology projects a considerable increase in the prevalence of cardiovascular risk factors and disease in the United States by the year 2060. All four CV risk factors are predicted to rise in the general U.S. population between 2025 and 2060, with diabetes seeing the biggest percentage increase at 39.3% to 55 million people, followed by dyslipidemia at 27.6% to 126 million, hypertension at 25.1% to 162 million, and obesity at 18.3% to 126 million.
The key players operating in the market are Professional Plating, Inc., SYNBONE AG, Evonik, LipoCoat BV, ENS Technology, SPC, AngioDynamics, ASAHI INTECC CO., LTD., UltraTape and Shanghai Eco Polymer Sci.&Tech. Co., Ltd. These players adopted various strategies to gain major market share in the industry including product launches, acquisitions, collaboration and others.
GLOBAL RADIOPAQUE COATINGS MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Professional Plating, Inc.
SYNBONE AG
Evonik
LipoCoat BV
ENS Technology
SPC
AngioDynamics
ASAHI INTECC CO., LTD.
UltraTape
Shanghai Eco Polymer Sci.&Tech. Co., Ltd.