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Medical Coatings Market Will Reach $15.2 Billion by 2025, at a CAGR of 20.5%| MarketsandMarkets™

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Medical Coatings Market Will Reach $15.2 Billion by 2025, at a CAGR of 20.5%| MarketsandMarkets™

May 11
23:12 2023
Medical Coatings Market Will Reach $15.2 Billion by 2025, at a CAGR of 20.5%| MarketsandMarkets™
Browse 84 market data tables and 39 figures spread through 179 pages and in-depth TOC on “Medical Coatings Market”
The global Medical Coatings market is expected to grow due to increasing demand for medical devices and implants. North America and Europe are leading the market due to their advanced healthcare infrastructure, while the Asia-Pacific region is expected to witness significant growth.

The global medical coatings market size is expected to witness high growth during the forecast period, owing to the increasing demand for minimally invasive surgical procedures. Medical coatings are the functional materials that are applied to medical devices, implants, surgical tools, and medical equipment to provide the functional properties to meet the particular end-use requirements. These medical coatings enhance the performance of medical applications by providing them functional properties such as antimicrobial resistance, lubricity, antithrombogenic properties, and others. MarketsandMarkets projects the global medical coatings market size to grow from USD 6.0 billion in 2020 and USD 15.2 billion by 2025, at a CAGR of 20.5% during the forecast period. 

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The passive coatings segment accounts for the largest share of the overall market. Hydrophilic coatings are widely used on guidewires, catheters, and introducer sheaths to lower friction coefficient. These coatings have properties such as lubricity, durability, low friction coefficient, and low particulate count. Hydrophobic coatings are water- or fluid-repellent and hence suitable for medical equipment. Minimal invasion and easy insertion of medical devices in biological openings offered by the hydrophilic coatings and excellent water repellent properties exhibited by the hydrophobic coatings are responsible for the large market size of passive medial coatings.  

Polymer-based medical coatings are used in medical devices, medical equipment & tools, protective clothing, and medical implants. They are necessary to optimize durability and corrosion resistance while minimizing the coefficient of friction. Major subtypes of polymer coatings used on medical devices, medical implants, and other applications are fluoropolymers, silicone, parylene, and polyurethanes. Easy availability, low cost, optimum performance, multifunctionality, and low particulate technology are boosting the polymer-based medical coatings market.

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The medical coatings market is segmented based on application into medical devices, medical implants, medical equipment & tools, protective clothing, and others. The medical devices segment accounted for the largest market share in 2019. Increased use of medical devices in the emerging economies, such as China and India, has led to the high growth of the market. The pandemic has further increased the demand for medical devices, such as catheters, guidewires, endotracheal tubes, positive pressure breathing devices, in-vitro diagnostic devices, cannulas, ventilators, ventilator accessories, infusion pumps, respirators, and other devices.

North America accounted for the largest share of the medical coatings market in 2019. Increased spending in the healthcare industry is driving the market for medical coatings in the region. The US was the largest medical coatings market in the region in 2019. Growing exports of medical devices, along with advancements in medical technology and increasing demand for home healthcare, are fueling the market in the region.

The medical coatings market comprises major players such as DSM (Netherlands), Hydromer (US), Surmodics (US), Biocoat (US), AST Products (US), Covalon Technologies (Canada), Harland Medical Systems (US), Applied Medical Coatings (US), Freudenberg (US), Merit Medical OEM (US) and others.

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