Medical Device Coating Industry is Anticipated to Reach a CAGR of 7.2% by 2031 | Fact.MR Report

The global medical device coating market is likely to be valued at US$ 1.2 Bn by 2021-end, with an anticipated CAGR of 7.2% across the 2021-2031 assessment period, with sales of hydrophilic coatings expected to be maximum at US$ 2 Bn. Overall, the market is slated to reach US$ 2.4 Bn by 2031.

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Key Takeaways of Medical Device Coating Market

• Increasing Demand for Medical Device Coatings: The Medical Device Coating market is experiencing significant growth due to the increasing demand for advanced coatings on medical devices. Coatings are applied to medical devices to enhance their performance, improve biocompatibility, reduce friction, prevent infection, and provide other functional properties.

• Advancements in Coating Technologies: The market is driven by continuous advancements in coating technologies specifically tailored for medical devices. Manufacturers are developing innovative coatings that offer properties such as antimicrobial protection, lubricity, wear resistance, biocompatibility, and drug elution capabilities. These advancements improve the functionality and safety of medical devices.

• Growing Prevalence of Chronic Diseases: The rising prevalence of chronic diseases such as cardiovascular diseases, orthopedic disorders, and neurological conditions drives the demand for medical devices. Coatings play a vital role in enhancing the performance and durability of medical devices used in the diagnosis, treatment, and management of these diseases.

• Regulatory Compliance and Safety: The Medical Device Coating market is heavily influenced by regulatory compliance and safety standards. Coatings used on medical devices must meet stringent regulatory requirements to ensure patient safety and product efficacy. Manufacturers must adhere to quality control processes and demonstrate compliance with relevant standards and regulations.

• Focus on Infection Control: Infection control is a critical concern in healthcare settings. Medical device coatings with antimicrobial properties help prevent infections and reduce the risk of device-associated infections. The demand for such coatings is increasing, particularly in applications where devices come into direct contact with the body or are used in invasive procedures.

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Competitive Landscape

In the coming decade, manufacturers in the coatings for medical devices market will primarily focus on strategic acquisitions, collaborations, and product launches.

1. In September 2021, Hydromer Inc. announced that its new facility in North Carolina is fully operational, with extensive new capabilities. Being a global super-specialty coatings for medical and industrial applications manufacturer, the facility will produce coatings which can be heat or UV cured, in solvent and water based versions

2. Likewise, in the same month, Biocoat Inc. announced the expansion of its on-site ISO-certified, full-service contract coating service unit to include the ability to cure via UV light and plasma treat interventional medical devices. It has additionally announced the introduction of plasma treatment services for difficult to coat substances.

Key Companies Profiled:

• AdvanSource Biomaterials Corporation
• AeonClad Coatings LLC
• Allvivo Vascular Inc.
• Armology of Connecticut Inc.
• AST Products Inc.
• Biocoat Inc.
• Carmeda AB
• Covalon Technologies Ltd.
• Hemoteq AG
• Hydromer Inc.

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Key Segments Covered

• By Type

o Anti-Microbial Coatings for Medical Devices
o Drug-Eluting Coatings for Medical Devices
o Hydrophilic Coatings for Medical Devices
o Other Types of Coatings for Medical Devices

• By Application

o Coatings for Cardiovascular Devices
o Coatings for Orthopedic Devices
o Coatings for Neurology Devices
o Coatings for Gynecology Devices
o Coatings for Other Applications

Key Questions Covered in the Medical Device Coating Market Report:

• What is the projected value of the Medical Device Coating factors Industry in 2022?
• At what rate will the global Medical Device Coating factors market size grow until 2031?
• Which are the factors hampering the growth of Medical Device Coating factors?
• Which region is expected to lead in the global Medical Device Coating factors market by 2031?
• Which are the factors driving the Medical Device Coating factors Industry during the forecast period?
• What is the expected market value of the Medical Device Coating factors market during the forecast period?

Regional Analysis for Medical Device Coating Market:

• APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (USA, Canada and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, United Arab Emirates, South Africa)

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This release was published on openPR.