Medical Coatings Global Market Report 2024 by The Business Research Company | Allvivo Vascular Inc., AST Products Inc., Biocoat Incorporated, Coatings2Go LLC, Covalon Technologies Ltd., Harland Medical Systems Inc., Hemoteq AG, Medicoat AG, Merit Medical

The medical coatings market size has grown exponentially in recent years. It will grow from $8.65 billion in 2023 to $10.5 billion in 2024 at a compound annual growth rate (CAGR) of 21.4%. The growth in the historic period can be attributed to infection prevention, biocompatibility, advanced drug delivery, performance enhancement, regulatory compliance:.

The medical coatings market size is expected to see exponential growth in the next few years. It will grow to $23.01 billion in 2028 at a compound annual growth rate (CAGR) of 21.7%. The growth in the forecast period can be attributed to nanotechnology advancements, minimally invasive surgery, remote monitoring, personalized medicine, biodegradable solutions. Major trends in the forecast period include antimicrobial coatings, drug-eluting coatings, biocompatible coatings, hydrophilic coatings, anti-adhesion coatings:
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Medical Coatings Market Major Segments
The medical coatings market covered in this report is segmented -

1) By Type: Anti-Microbial Coating, Hydrophilic Coating, Anti-Thrombogenic Coating, Other Types
2) By Material Type: Polymers, Metals, Other Material Types
3) By Application: Medical Devices, Medical Implants, Medical Equipment and Tools, Protective Clothing, Other Applications

Key Driver - Rising Incidences Of Ischemic Heart Disease And Chronic Obstructive Pulmonary Disease Driving Growth Of Medical Coatings Market

Rising occurrences of ischemic heart disease and chronic obstructive pulmonary disease are expected to propel the growth of the medical coatings market going forward. Ischemic heart disease refers to heart issues brought on by constricted heart arteries. Little blood and oxygen reach the heart muscle when arteries are narrow. Medical coatings are used to enhance various kinds of medical devices, such as general surgery devices and cardiovascular devices, to make them durable and prevent corrosion. For instance, in March 2023, according to the Centers for Disease Control and Prevention, a US-based national public health agency, stroke deaths increased from 38.8 per 100,000 people in 2020 to 41.1 per 100,000 people in 2021. In the United States, there are more than 795,000 strokes per year. Of these, 610,000 are first-time strokes. And ischemic strokes, in which the flow of blood to the brain is impeded, account for around 87% of all strokes. Therefore, rising occurrences of ischemic heart disease and chronic obstructive pulmonary disease are driving the growth of the medical coatings market.

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Prominent Trend - Innovative Product Developments Drive The Medical Coatings Market

Product innovations are a key trend gaining popularity in the medical coatings market. Major companies operating in the medical coatings market are focused on developing new product innovations to strengthen their position. For instance, in April 2022, Harland Medical Systems, Inc., a US-based provider of medical device coatings and equipment services to healthcare product manufacturers, launched the CTS1100 Coating Thickness Testing System. As a testing system, the CTS1100 will allow medical device manufacturers to accurately and easily measure the coating thickness on their devices. The CTS1100 can conduct an automated dry-out test, which makes laborious testing simple. The product has unique features such as a real-time precision micrometer that can continually measure a sample's diameter and calculate the dry-out time by using the device's critical dry-out diameter.

Medical Coatings Market Players
Major companies operating in the medical coatings market include Allvivo Vascular Inc., AST Products Inc., Biocoat Incorporated, Coatings2Go LLC, Covalon Technologies Ltd., Harland Medical Systems Inc., Hemoteq AG, Medicoat AG, Merit Medical Systems Inc., AeonClad Coatings LLC, Applied Medical Coatings LLC, Applied Membrane Technology Inc., Calico Coatings, Carmeda AB, Freudenberg Medical LLC, Hydromer Inc., Kisco Ltd., Materion Corp., DSM Biomedical B.V., Surmodics Medical Ltd., Precision Coating Company, BioInteractions Ltd., Sono-Tek Corporation, Specialty Coating Systems Inc., Biomerics LLC, EuroMed Inc., Innovative Surface Technologies, N2 Biomedical, Orchid Orthopedic Solutions, Plasma Coatings

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Largest And Fastest Growing Region In The Market
North America was the largest region in the medical coatings market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the medical coatings market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Medical Coatings Market Report Structure
3. Medical Coatings Market Trends And Strategies
4. Medical Coatings Market - Macro Economic Scenario
5. Medical Coatings Market Size And Growth
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27. Medical Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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