Medical Device Coating Market by Type, Application, End-User

Description

List of Tables

[184 Pages Report] The Medical Device Coating Market size was estimated at USD 13.55 billion in 2023 and expected to reach USD 14.72 billion in 2024, at a CAGR 8.35% to reach USD 23.77 billion by 2030.

Medical device coatings are applied to medical devices to improve their performance, safety, functionality, and user experience and protect them from abrasion, chipping, or scratching. Medical device coating is a process that involves applying one or more coating layers to a device to mitigate potential issues related to the device's use or to enhance certain operative characteristics. The surge in the number of surgeries and increasing use of medical devices are necessitating efficient medical device coatings to improve their durability and efficiency. Stringent patient safety standards are accelerating the use of medical device coatings by manufacturers. However, the fluctuating cost of raw materials may influence the cost of medical device coatings. Moreover, the introduction of innovative bio-based and biocompatible coatings is expected to encourage their use in the manufacturing of medical devices.

KEY MARKET STATISTICS
Base Year [2023]	USD 13.55 billion
Estimated Year [2024]	USD 14.72 billion
Forecast Year [2030]	USD 23.77 billion
CAGR (%)	8.35%

Regional Insights

The Medical Device Coatings (MDCs) market is evolving in the Americas owing to the emerging technologies and improved healthcare infrastructure, increasing awareness about infection control, and the development of innovative medical device coatings. The medical device coating market in the EU countries is advancing steadily, mainly due to the upsurge in aging populations, higher incidences of chronic diseases, and the growing need for improved medical devices and investments into developing non-toxic, biodegradable medical device coating materials. Increasing demand for advanced healthcare equipment and initiatives focusing on enhancing healthcare infrastructure and research for medical device coatings are accelerating the growth of the medical device coatings market in the EMEA region. Increasing healthcare spending, rising awareness about minimally invasive surgeries, and the ongoing development of nano-tech-based MDCs are encouraging the growth of the medical device coatings market in the EMEA region. Besides, ongoing R&D to improve the performance and efficiency of medical device coatings is anticipated to increase their use by the end-users globally.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Medical Device Coating Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Inclination towards minimally invasive surgeries and need for improved medical devices
- Growing emphasis on prevention of infection through medical devices
- Stringent government regulations for patient safety

Market Restraints
- Fluctuating cost of raw materials

Market Opportunities
- Introduction of bio-based medical device coatings
- Advancements in nanotechnology used for manufacturing medical device coatings

Market Challenges
- Complex manufacturing and environmental impact associated with medical device coatings

Market Segmentation Analysis
- Type: Significant penetration of antimicrobial medical device coatings
- Application: Expanding use in manufacturing of dental devices
- End-User: Proliferating demand for medical device coatings by medical device manufacturers

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Medical Device Coating Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Medical Device Coating Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Surmodics Launches Preside Medical Device Coating Technology

Surmodics introduced the Preside Medical Device Coating Technology, an innovative medical coating solution. This advanced hydrophilic surface technology offers numerous benefits, including reduced biofilm formation and enhanced protection for underlying substrates. With its superior wear performance and long-term biocompatibility, the Preside Medical Device Coating Technology is specifically designed to meet the demanding requirements of medical device applications. [Published On: 2023-11-07]

Bio-Gate Partners with Medical Device Manufacturer to Use Coating Process for Implants

Bio-Gate, a medical device manufacturer, pioneered a cutting-edge implant coating process. This state-of-the-art technology offers numerous benefits, enhancing the biocompatibility and safety of implants. Additionally, it provides exceptional resistance against bodily fluids and other external factors, ensuring the longevity and effectiveness of the implants. [Published On: 2023-08-03]

Asep Inc. Obtains Exclusive Worldwide License from the University of British Columbia for Ground-breaking Medical Device Coating Technology

ASEP Inc. obtained an exclusive worldwide license from the University of British Columbia for advanced medical device coating technology. This technology allows for more effective treatment of endovascular and intravascular conditions, leading to improved patient outcomes and reduced costs for clinicians. The technology is based on research conducted at UBC, which has demonstrated advantages over current treatments in terms of efficacy, safety, and cost. [Published On: 2023-07-31]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Medical Device Coating Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Medical Device Coating Market, highlighting leading vendors and their innovative profiles. These include Advanced Deposition & Coating Technologies, Inc., Applied Medical Coatings, LLC, AST Products, Inc., Biocoat, Inc., Confluent Medical Technologie, Covalon Technologies Ltd., DECC Company, Donwell Company, Inc., Endura Coatings Ltd., Freudenberg Medical, LLC, Harland Medical Systems, Inc., Hydromer Inc., Infinita Biotech Private Ltd., Materion Corp, Medicoat AG, Merit Medical Systems, Inc., N2 Biomedical, PPG Industries, Inc, Precision Coating Company, Inc., Royal DSM, Sono-Tek Corp., Specialty Coating Systems Inc., SurModics, Inc., and Tiodize Co. Inc..

Market Segmentation & Coverage

This research report categorizes the Medical Device Coating Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Anti-fouling Coatings
- Anti-thrombogenic Coatings
- Antimicrobial Coatings
- Drug-Eluting Coatings
- Hydrophilic Coatings
- Hydrophobic Coatings

Application
- Cardiovascular
- Dentistry
- General surgery
- Gynecology
- Neurology
- Orthopedics

End-User
- Medical Device Contract Manufacturers
- Medical Device Manufacturers

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-945A3D8C011C

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Inclination towards minimally invasive surgeries and need for improved medical devices
  - 5.1.1.2. Growing emphasis on prevention of infection through medical devices
  - 5.1.1.3. Stringent government regulations for patient safety
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuating cost of raw materials
- 5.1.3. Opportunities
  - 5.1.3.1. Introduction of bio-based medical device coatings
  - 5.1.3.2. Advancements in nanotechnology used for manufacturing medical device coatings
- 5.1.4. Challenges
  - 5.1.4.1. Complex manufacturing and environmental impact associated with medical device coatings
5.2. Market Segmentation Analysis
- 5.2.1. Type: Significant penetration of antimicrobial medical device coatings
- 5.2.2. Application: Expanding use in manufacturing of dental devices
- 5.2.3. End-User: Proliferating demand for medical device coatings by medical device manufacturers
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Medical Device Coating Market, by Type

6.1. Introduction
6.2. Anti-fouling Coatings
6.3. Anti-thrombogenic Coatings
6.4. Antimicrobial Coatings
6.5. Drug-Eluting Coatings
6.6. Hydrophilic Coatings
6.7. Hydrophobic Coatings

7. Medical Device Coating Market, by Application

7.1. Introduction
7.2. Cardiovascular
7.3. Dentistry
7.4. General surgery
7.5. Gynecology
7.6. Neurology
7.7. Orthopedics

8. Medical Device Coating Market, by End-User

8.1. Introduction
8.2. Medical Device Contract Manufacturers
8.3. Medical Device Manufacturers

9. Americas Medical Device Coating Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Medical Device Coating Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Medical Device Coating Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Surmodics Launches Preside Medical Device Coating Technology
- 12.3.2. Bio-Gate Partners with Medical Device Manufacturer to Use Coating Process for Implants
- 12.3.3. Asep Inc. Obtains Exclusive Worldwide License from the University of British Columbia for Ground-breaking Medical Device Coating Technology
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio