SAN FRANCISCO, March 28, 2023 /PRNewswire/ -- The global medical device coating market size is expected to reach USD 23.85 billion by 2030, registering a CAGR of 8.0% from 2023 to 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by the rising demand for cardiovascular devices, stents, ventilators, sutures, guide wires, syringes, catheters, mandrels, and other protective equipment used in the healthcare sector. In addition, factors, such as the growing demand for early detection and non-invasive treatments, as well as high-quality healthcare, are anticipated to drive the growth of medical devices, which is projected to fuel the demand in the coming years. Medical Device Coatings (MDCs) are materials that improve a device's performance and mobility.
Key Industry Insights & Findings from the report:
- The antimicrobial coatings segment is projected to grow at the highest growth rate over the forecast period owing to their low price and high compatibility with different materials, such as carbon fiber, composite materials, metal, plastic, and stainless steel.
- The prevalence of infections, such as pneumonia associated with ventilators and catheter-associated urinary tract infections, is forcing medical equipment manufacturers to coat their products with anti-microbial agents.
- The cardiovascular application segment dominated the industry in 2022 due to the increasing cases of heart diseases and the rising adoption of implants and cardiac pacemakers among heart patients.
- Asia Pacific is expected to witness the fastest growth rate over the forecast period due to the growing number of healthcare facilities in the region.
Read 122 page market research report, "Medical Device Coating Market Size, Share & Trends Analysis Report By Product (Drug-eluting, Hydrophilic, Antimicrobial), By Application (Neurology, Cardiovascular, Dentistry), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Medical Device Coating Market Growth & Trends
MDCs are used in protecting the surfaces of several equipment, including those used in neurology, dentistry, and other fields. Moreover, these coatings are applied to a variety of instruments used in healthcare, including those used in general surgery, cardiology, orthopedics, dentistry, implants, neurology, gynecology, and other fields. North America dominated the industry in 2022. As per the statistics of the Centers for Medicare & Medicaid Services, the national health expenditure in the U.S. grew by 2.7% to USD 4.3 trillion in 2021. Also, private health insurance spending grew by 9.2% to USD 734.0 billion in 2021. The increasing spending on Medicare, private health insurance, and prescription drugs in the U.S. is predicted to boost product demand in the region over the forecast period.
Medical Device Coating Market Segmentation
Grand View Research has segmented the global medical device coating market on the basis of product, application, and region:
Medical Device Coating Market - Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Hydrophilic Coatings
- Antimicrobial Coatings
- Drug-eluting Coatings
- Anti-thrombogenic Coatings
- Others
Medical Device Coating Market - Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Neurology
- Orthopedics
- General Surgery
- Cardiovascular
- Dentistry
- Gynecology
- Others
Medical Device Coating Market - Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- ASEAN
- Central & South America
- Brazil
- Argentina
- Chile
- Middle East & Africa
- UAE
- South Africa
List of Key Players of Medical Device Coating Market
- SurModics, Inc.
- Sono-Tek Corp.
- DSM
- Hydromer, Inc.
- Covalon Technologies Ltd.
- Infinita Biotech Pvt. Ltd.
- Materion Corp.
Check out more related studies published by Grand View Research:
- Coating Equipment Market - The global coating equipment market size is expected to reach USD 25.99 billion by 2030, expanding at a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. The industry is expected to witness significant growth on account of the high application scope coupled with growing consumption from the automotive application.
- Hydrophilic Coatings Market - The global hydrophilic coatings market size is expected to reach USD 14.74 billion by 2025, according to a new report by Grand View Research, Inc. Growing demand for hydrophilic coatings in medical and automotive application is expected to complement market growth over the forecast period.
- Breathable Antimicrobial Coatings Market - The global breathable antimicrobial coatings market size is expected to reach USD 676.7 million by 2025, according to a new report by Grand View Research, Inc. Growing population and high focus towards better healthcare services are expected to fuel the demand over the forecast period. In addition, supportive government regulations and increasing medical device & pharmaceutical manufacturing in developing economies are expected to augment utilization of the product over the forecast period.
Browse through Grand View Research's Paints, Coatings & Printing Inks Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter
Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/medical-device-coating-market-to-be-worth-23-85-billion-by-2030-grand-view-research-inc-301783592.html
