Global Demand for Medical Device Coatings Set to Surge to US$21.33 Billion by 2030

A new report by Persistence Market Research predicts that the global medical device coating market will expand at a healthy 8% CAGR between 2023 and 2030 as medical device manufacturers increasingly adopt specialized coatings to enhance device performance. The market is forecast to grow from $12.45 billion in 2023 to $21.33 billion in 2030, presenting significant opportunities for companies operating in the medical coating space.

The rising demand for innovative and high-performance medical devices like stents, implants, catheters, surgical tools, and other invasive devices is spurring interest in biocompatible coatings that meet clinical, engineering, and operational specifications. Medical device makers are utilizing advanced coating methods to modify device surface properties. Consequently, the medical coating industry is also innovating by expanding their portfolio of antimicrobial, drug-eluting, hydrophilic, and anti-thrombogenic coatings. Among these, hydrophilic coatings are likely to register the fastest growth during the forecast period. Meanwhile, antimicrobial coatings are expected to account for the dominant share of global revenues.

The accelerated demand for medical coatings is attributed to the growing incidence of hospital-acquired infections (HAIs) and other microbiological contaminations. The antimicrobial properties of medical coatings can effectively prevent the spread of such infections. Besides enhancing biocompatibility, these coatings also offer superior lubricity, thermal stability, and dielectric strength – properties that are critical for medical devices to function safely and efficiently inside the human body.

Glance over the report: https://www.persistencemarketresearch.com/market-research/medical-device-coating-market.asp

In terms of end-use applications, general surgery is expected to create the greatest demand during the forecast period. However, cardiology is predicted to expand at the fastest pace owing to the high usage of specially coated guidewires, stents, balloon catheters, and related cardiac devices. There is also anticipated growth from other sectors like dentistry, neurology, orthopedics, ophthalmology, and gynecology.

Geographically speaking, North America held the largest share (41.35%) of the medical coating market in 2022. The regional growth is underpinned by high investments in cutting-edge healthcare infrastructure and growing patient preference for advanced treatments and technologies. High healthcare expenditure is also enabling smooth regulatory approvals and product launches – for instance, in 2020 alone, the U.S. FDA cleared over 125 innovative medical devices.

Asia Pacific is tipped to register the fastest growth during 2023-2030. Factors supporting the growth include increasing healthcare budgets by APAC governments and accelerated urbanization leading to a rise in lifestyle diseases and age-related disorders. Market players can capitalize on the region’s exponential population growth and inadequate healthcare penetration by introducing cost-effective coated devices.

Product Innovations and Strategic Partnerships Powering Market Growth

Significant product and technological advancements are currently revolutionizing the medical coating industry:

• Coating companies like AeonClad offer proprietary methods like dry coating technology to encapsulate and release drugs from medical device surfaces in a controlled and predictable manner. Such innovations allow increased personalization and effectiveness of implantable devices.
• Antimicrobial coatings are gaining immense popularity as medical coating companies partner with device manufacturers to integrate HAIs prevention abilities. For example, CEMMA and LipoCoat have co-developed antimicrobial CVCs, while BioInteractions launched its patented TridAnt technology in 2022.
• Novel coating application techniques including microblasting, low-temperature atmospheric plasma, and physical vapor deposition are enabling benefits like uniform coatings, higher efficiency, and superior adhesion at lower costs.

Additionally, mergers and acquisitions allow leading players to diversify their expertise and achieve rapid growth. The latest being the N2 Biomedical and Precision Coating merger in 2021 to better serve the interventional cardiology and orthopedic markets.

Market Landscape and Leading Players:

Medical device coatings companies play a critical role in the healthcare industry by enhancing the performance, biocompatibility, and durability of medical implants and instruments. These specialized coatings contribute significantly to advancements in medical technology, ensuring the safety and efficacy of devices used in diagnostics, surgery, and patient care.

A recent study by Persistence Market Research delves into the Medical Device Coatings Market, analyzing the current landscape and future opportunities for companies in this sector. The research spans over a 12-year period, highlighting the evolving trends and growth potential within the market.

Here, we explore some of the leading companies shaping the medical device coatings landscape:

Advanced Coating: This company provides high-quality parylene conformal coatings, catering to diverse industries like aerospace, automotive, and medical devices. Their services are backed by certifications such as ISO 9001:2015 and AS9100 Rev D, ensuring adherence to stringent quality standards. Additionally, they offer customizable solutions, allowing customers to optimize costs and efficiency.

Biocoat: A medical equipment manufacturer, Biocoat specializes in developing biomaterial coatings for medical devices. These coatings offer several advantages, including lubriciousity, abrasion resistance, and biocompatibility, ultimately improving the functionality and safety of medical devices. Biocoat boasts five Class VII facilities dedicated to production, application, and research and development of innovative coatings and processes.

Evonik Health Care: A subsidiary of Evonik, this company provides comprehensive support to its customers throughout the product lifecycle, from initial development to mass production. Their services are driven by the expertise of diverse and multidisciplinary teams of scientists. Additionally, Evonik's Nutrition and Care division ventures into developing unique solutions across various sectors, including medical devices, personal care products, and pharmaceuticals. Their global presence spans over 100 countries.

Formacoat: As a privately held medical device contract manufacturer, Formacoat offers a range of coating services, including hydrophilic, hydrophobic, and other specialized solutions for medical devices. They utilize diverse polymeric materials to cater to a wide variety of customer needs and offer customizable services for complex medical devices. Their focus lies on providing cost-effective coating solutions, streamlining internal processes for their clients.

Harland Medical Systems: This company offers medical device coatings and production services within the healthcare industry. They specialize in biomaterial coatings for aneurysm treatment and preventing hospital-acquired infections. Additionally, Harland Medical Systems actively engages in research and development of novel coatings and procedures. They aim to be a one-stop solution provider, catering to clients based in the US and Ireland.

Para-Coat Technologies: This chemical manufacturer and service provider specializes in applying various conformal coatings, including parylene, acrylic, polyurethane, silicone, and epoxy. Their services extend to diverse sectors like military, aerospace, automotive, and medical devices. They also offer parylene equipment and provide consultancy services. Para-Coat Technologies is accredited with ISO 13485:2016 and ITAR certifications.

Specialty Coating Systems (SCS): With over 50 years of experience in the medical device industry, SCS is a leading manufacturer of medical devices. They offer parylene and multi-layer conformal coating services, along with various liquid coating systems like thermal and UV cure options. Their global network boasts 21 cutting-edge coating facilities, providing comprehensive solutions to their clients.

SurModics: A market leader in chemical components for in vitro diagnostics (IVD) and surface modification technologies for intravascular medical devices, SurModics offers advanced design, development, and manufacturing capabilities. They utilize patented surface technologies and coating solutions to create innovative medical devices. Notably, SurModics provides coating services for over 150 commercial medical devices, serving more than half of the top global in vitro diagnostic firms.