Increasing Use of Minimally Invasive
Surgery to Encourage Market Growth
Although minimally invasive
technologies have a higher success rate, the growth can be attributed largely
to increased awareness of their usage. The increased prevalence of diseases
related with healthcare, such as pneumonia linked to ventilators and urinary
tract infections associated with catheters, is also pressuring medical device
makers to coat their items with anti-microbial compounds. The increase in the geriatrics population,
which presents issues for healthcare, as well as the rising demand for implants
are other factors linked with the industry's advancement. Additionally, it is
anticipated that the demand for medical devices will encourage early disease
detection, which will boost the industry's growth throughout the forecast
period.
Cardiovascular and urology
catheters, short-term implanted devices, and hydrophilic lubricious coatings
are the three main trends in the medical device coating industry. Additionally,
throughout the forecast period, companies that provide coatings for medical
devices may benefit from increasing demand for better healthcare facilities and
increased awareness of novel surgeries.
Increased Awareness of Healthcare Associated
Infections
Infections related to healthcare
are thought to affect more than 3 million people annually in Europe, according
to the European Centre for Disease Prevention and Control (ECDC). The CDC also
reports that in 2020, at the height of the COVID-19 pandemic, hospital-associated
MRSA bacteremia cases increased by 15%, the prevalence of ventilator-associated
events increased by 35%, and the incidence of central-line-associated
bloodstream infections increased by 24% in U.S. hospitals. The FDA and other
regulatory bodies across the world have been emphasising properly coated
medical equipment due to the rising incidence. In order to increase the safety
of the devices, manufacturers are taking action themselves. One such measure is
the application of the proper coatings, which promotes market expansion. The
pressing need to treat infections linked to implanted medical devices, such as
hospital-acquired infections (HAI), is a major driver of the industry's ongoing
advancements in medical device coatings. The forecast for the market for
medical device coatings is rising due to advancements in the designs of medical
equipment used in urology, orthopaedics, and neurology.
Hydrophilic Coatings
Segment to Hold a Sizable Market Share
The market's biggest share is
held by the segment of hydrophilic coatings. In order to increase lubricity and
lower surface friction, coatings of the hydrophilic kind are used. Furthermore,
it is projected that benefits like optical transparency and the capacity to
survive maintenance processes like storage, sterility, and cleaning would boost
product demand. During the forecast period, it is predicted that the
antimicrobial coatings sector would grow quickly. In order to prevent the
transmission of disease, antimicrobial coatings are used on surfaces, medical
equipment, and items. The demand for antimicrobial coatings in the healthcare
industry is anticipated to rise as public awareness of Covid-19 grows. The EPA
has certified antimicrobial coating for use in HVAC systems as a safe and
effective method of preventing bacteria that produce odours from growing in
hospitals, medical equipment, and water filters.
Medical Grade Coatings Market Segmentation
The global medical grade coatings
market is segmented on the basis of material, type, formulation and application.
On the basis of Material:
·
PTFE
·
PVDF
·
Silicone
·
Parylene
·
Metals
·
Others
On the basis of Type:
·
Hydrophilic
·
Hydrophobic
·
Anti-Microbial
·
Drug Eluting
·
Others
On the basis of Formulation:
·
Solvent Based
·
Water Based
·
Powder Coating
On the basis
of Application:
·
General Surgery
·
Cardiovascular
·
Orthopedics
·
Neurology
·
Gynecology
·
Dentistry
·
Others
Increased Cost of Raw
Materials to Impede Market Growth at Moderate Level
Cost fluctuations for raw
materials have a direct influence on the amount it costs to produce coatings.
The consistency of these chemicals' pricing helps in regulating the overall
manufacturing costs of coatings since a variety of chemicals are required to
determine the qualities of the substrate on which the coating is to be placed.
The price of raw materials like silicone rubber and PTFE is likely to rise,
which would reduce consumer demand for the product. Medical coating
manufacturing involves significant up-front and ongoing expenditures. There are
many outdated or expired patents, and medical coating companies are not allowed
to create new coatings based on older patents in order to avoid paying
royalties. Therefore, upfront payments are expected in order to utilise
outdated technologies. The market's expansion is probably going to be hampered
by this. A boom of technical advancements is predicted to result from the
elimination of all initial costs and difficulties. Modern coatings for medical
items require complex legal procedures, negotiation of non-disclosure agreements,
and other expenses.
Biocoat Inc., a producer of
hydrophilic biomaterial coatings and coating tools for medical and device
applications, announced its entry into the hydrophilic dip coating market in
April 2022. In order to coat medical devices, the company is planning to
design, develop, and deploy the dip coating technology.
In March 2022, The Discreet Bioresorbable
Coating Technology, which is utilized with the SLENDER IDS and DIRECT RX
Bioresorbable Coated Drug-Eluting Stent (DES) Systems, was developed in
collaboration between Svelte Medical Systems and DSM Biomedical, two
significant companies in the biomaterials sector.
May 2021 saw the announcement
from Hydromer that it has been chosen as Avinger Inc.'s top coatings and
services partner. Its coatings are specifically chosen for the cathete-based,
intravascular image guidance systems for the diagnosis and treatment of
patients with peripheral artery disease (PAD).
A prominent provider of surface
modification and drug delivery, Surmodics, got the CE mark in June 2020 for its
Abbott-backed paclitaxel-coated balloon, which is used in peripheral artery
disease treatment procedures. Through a contract with Surmodics, Abbott
obtained the rights to commercialise SurVeil around the world.
AeonClad Coatings LLC, Allvivo
Vascular Inc., Armology of Connecticut Inc., AdvanSource Biomaterials
Corporation, AST Products Inc., Biocoat Inc., Hemoteq AG, Hydromer Inc.,
Materion Corp., Carmeda AB, Covalon Technologies Ltd., Royal DSM N.V (DSM
Corporation) are some of the prominent market players operating in the global medical
grade coatings market.
North America Region
Holds Sizable Share in Medical Grade Coatings Market
The demand for the product is
anticipated to increase in the upcoming years due to the high penetration and
rising medical infrastructure of advanced surgical treatments in the United
States. United States being a key market for medical devices and is home to
several medical R&D centres, which helps to fuel industry expansion. Due to
increased rates of obesity, heart disease, and a geriatric population, Europe
is anticipated to have a sizable medical coatings market value throughout the
forecast period. Additionally, throughout the forecast period, the U.K. and
Germany are expected to grow the European market and increase the adoption of
medical coatings products. The medical device industry in Germany is the third
largest in the world and the largest in Europe. The medical sector is expected
to offer new technology as it continues to expand.
The market share for medical
coatings in Asia Pacific is anticipated to expand at the fastest rate over the
forecast period. This is a result of rising healthcare expenditures in China
and India. Due to rising demand in the area of medical coating sector, China
and India are the major manufacturers of medical devices in the Asia
Pacific region. The region's medical device coating market is being driven by
rising patient awareness of minimally invasive surgery. In addition, it is
anticipated that emerging markets would play a role in some of the global
market's growth, particularly in China and India. Future demand for better
medical facilities is anticipated to rise even more as interest in people's
health and wellbeing increases together with disposable income.
The report provides a detailed
overview of the medical grade coatings market insights in regions including
North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle
East and Africa. The country-specific assessment for medical grade coatings
market has been offered for all regional market share, along with forecasts,
market scope estimates, price point assessment, and impact analysis of
prominent countries and regions. Throughout this market research report, Y-o-Y growth
and CAGR estimates are also incorporated for every country and region, to
provide a detailed view of the medical grade coatings market. These Y-o-Y
projections on regional and country-level markets brighten the political,
economic and business environment outlook, which are anticipated to have a
substantial impact on the growth of the medical grade coatings market. Some key
country and region included in the medical grade coatings market report as
follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Medical Grade Coatings Market Research
Report Covers In-depth Analysis on:
·
Medical grade coatings market segments
·
Medical grade coatings market dynamics
·
Medical grade coatings market value and share
analysis
·
Recent trends, restraints, opportunities in medical
grade coatings market
·
Companies & competition involved medical
grade coatings market
·
Latest technologies in medical grade coatings
market
·
Supply chain and value chain medical grade
coatings market
·
Medical grade coatings market sales and
distribution strategies
Medical Grade Coatings Market Growth
Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Medical grade coatings industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on medical grade coatings market
forecast by countries
·
Essential information to enhance market position
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