Medical Coatings Market Worth $3.32 Billion by 2030

Meticulous Research®-a leading global market research company, published a research report titled, 'Medical Coatings Market By Type (Hydrophilic, Antimicrobial, Drug-eluting, Anti-thrombogenic), Material (Polymer {Fluoropolymers, Parylene, Silicon}, Metal {Silver, Titanium}), Application (Medical Devices, Implants, Equipment) - Global Forecast to 2030.'

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According to this latest publication from Meticulous Research®, the medical coatings market is projected to reach $3.32 billion by 2030, at a CAGR of 11.2% from 2023 to 2030. The growth of this market is attributed to factors such as rising incidence of healthcare-associated infections (HAIs), growing adoption of minimally invasive surgical procedures, and high demand from the medical devices industry. In addition, the growing demand for customized and multifunctional coatings and potential in emerging economies are expected to provide significant growth opportunities for this market.

However, the rising raw material prices and high costs & miniaturization of medical devices are the factors that are expected to hinder the growth of this market. Additionally, factors such as the limitations of certain types of coatings with regards to biocompatibility, lack of standardization, and durability, among others and risk of coating failure associated with the use of hydrophilic and/or hydrophobic coated medical devices are some of the major challenges for the growth of this market.

Medical Coatings Market: Future Outlook

The medical coatings market is segmented by type, material type, application, and geography. The study also evaluates industry competitors and analyzes the market at the country and regional levels.

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Based on type, in 2023, the hydrophilic coatings segment is expected to account for the largest share of the medical coatings market. The large market share of this segment is attributed to the benefits of hydrophilic coating to reduce friction, increase lubricity, and enable doctors to better maneuver the medical devices.

Based on material type, in 2023, the polymers segment is expected to account for the largest share of the medical coatings market. The large market share of this segment is attributed to the benefits of polymers to enhance the performance of medical devices and the preferred chemical properties of polymers that encourages their use for medical coating.

Based on application, in 2023, the medical devices segment is expected to account for the largest share of the medical coatings market. The large market share of this segment is attributed to the growing focus on reducing the chances of infections and the increasing number of minimally invasive procedures. Medical coatings are used to enhance the functionality, biocompatibility, and safety of medical devices.

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This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America (Brazil, Mexico, and RoLATAM), and the Middle East & Africa. In 2023, North America is expected to account for the largest share of the global medical coatings market, followed by Europe and Asia-Pacific. North America's large market share is attributed to the high healthcare expenditure in the region, high demand from the medical devices industry, the high number of surgeries conducted, and the presence of key players in the region.

Key Players:

The key players operating in the medical coatings market are Hydromer Inc. (U.S.), Harland Medical Systems, Inc. (U.S.), SurModics, Inc. (U.S.), Koninklijke DSM N.V. (Netherlands), AST Products, Inc. (U.S.), Biocoat Incorporated (U.S.), Precision Coating Company, Inc (U.S.), Medicoat AG (Switzerland), Merit Medical Systems, Inc. (U.S.), and Specialty Coating Systems, Inc. (U.S.) among others.

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Key questions answered in the report-

1 Which are the high-growth market segments in terms of type, material type, application, and region/country?
2 What was the historical market size for medical coatings across the globe?
3 What are the market forecasts and estimates for the period 2023-2030?
4 What are the major drivers, restraints, opportunities, and challenges in the global medical coatings market?
5 Who are the major players in the medical coatings market?
6 How is the competitive landscape, and who are the market leaders in the global medical coatings market?
7 What are the recent developments in the global medical coatings market?
8 What are the different strategies adopted by the major players in the global medical coatings market?
9 What are the geographical trends and high-growth regions/countries?

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