Global Medical Grade Coating Market size was valued at US$ XX Mn in 2019 and the total revenue is expected to grow at 6.4%% through 2020 to 2026, reaching nearly US$ XX Mn in the forecast period.
The global Medical Grade Coating market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Medical Grade Coating market report also provides trends by market segments, Material, and investment with a competitive landscape.
Global Medical Grade Coating Market
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Global Medical Grade Coating Market Overview:
Medical grade coating is a polymer-based coating used in medical devices, medical tools, medical equipment, and medical clothes to provide a protective layer that avoids microbial contamination with the environment and to make the medical equipment free from corrosion and other harmful properties.
The properties of the medical-grade coating are durability, low friction, lubrication, and low particulate count. This coating is used on devices like guide wires, catheters, cannula, Foley, dialyzer, nebulizer, blood infusion set, surgical equipment’s, diagnostic equipment’s, biomedical equipment, etc. These medical devices need protection to be effective in the environment and this is given by medical-grade coating.
The medical-grade coating needs to be ideal for metals, glass, ceramics, plastic, silicon, rubber to stabilize them with physical and chemical properties. The medical-grade coating is mainly used to improve the device performance expand surface properties.
Global Medical Grade Coating Market Dynamics:
Medical devices are life-saving devices and the maintenance of these medical devices is important. To satisfy and increase the medical device performance and durability medical grade coating comes into play.
Rising occurrence of heart diseases like ischemic heart diseases, chronic obstructive pulmonary diseases (COPD), respiratory diseases, major surgeries in cancer, blockage in blood veins is driving the growth of medical devices coating the market to preserve them from harmful properties of the environment. The demand for hydrophilic coating in urology catheters, sheaths is increasing as it increases the biocompatibility of the device.
Additionally, the demand is rising in the healthcare industry due to increasing population level and rising disease around the world and early detection of chronic diseases efficient to maintain the medical device facility. Moreover, quality health care and non-invasive therapies are rising the expansion of the market and creating more opportunities for the growing companies to enter the market.
The Companies are facing a challenge in regulatory approvals by the governing bodies in healthcare. As the regulatory agencies do not approve the coating of medical devices separately. As medical OEMs have a separate methodology for choosing a coating for medical devices. Various tests are performed by the manufacturing units before the coating application and the tests have to pass certain properties of medical devices to main the durability and effectiveness of the device as the medical device directly comes in contact with the body and its organs. The approvals by the regulatory agencies depend on the type of devices and it is time-consuming. Hence this factor acts as a challenge to the medical-grade coating market.
Impact of COVID-19
The pandemic has adversely affected the medical-grade coating market due to the destruction of supply chain management in the medical-grade coating market. The raw material supply for coating like silicon, PTFE, PVDF, silicon, perylene, metal, from outside countries, is disrupting the manufacturing process and pulling the market expansion in the negative direction. However, the surging demand for medical equipment due to the COVID-19 pandemic is making a healthy impact on manufacturing industries.
Global Medical Grade Coating Market Segment Analysis:
By Material, the segment is divided into PTFE, PVDF, silicon, perylene, metal, and others. The sub-segment perylene is the most used material in the medical-grade coating market as it provides impeccable properties like the medical grade coating is spotless, stainless, highly untarnished, and sterile. The Flawless property of perylene drives the medical-grade coating market.
Global Medical Grade Coating Market 1
By Type, the segment is categorized into a lubricant, antimicrobial, hydrophilic coating. The antimicrobial coating is a widely used medical grade coating as microbial contamination on medical tools can harm a patient’s life when exposed to the medical tool or medical equipment. The market share of antimicrobial coating in the year 2020 was valued at 3.4 billion and is forecasted to reach 5.7 million by 2026 at a CAGR of 10.9% forecast period.
Hydrophilic coating is the second dominating coating in the medical-grade coating market with 9.35 billion in 2016 with a CAGR of 5.4% in the forecast period. The coating is applied on medical devices to reduce the friction when it comes in contact with the human organ and to increase the lubrication. The hydrophilic coating is majorly employed in the medical device industry.
By Application, the segment is divided into a medical device, implant, medical equipment, tool, others. Medical Device Coating is dominating the medical-grade coating market. The market share of medical device coating in the year 2019 was valued at 10.01 billion and is expected to grow at a CAGR of 8.5% in the forecast period. Rising demand for medical pieces of equipment like cardiovascular devices, neurology, orthopaedics, general surgery, dentistry, gynaecology Ophthalmology, etc. is driving the growth of the medical grade coating market due to modern technologies and developing health care systems around the world.
Medical equipment is second dominating in the medical-grade coating market as the equipment are used in surgery and antimicrobial coating and hydrophilic coating on medical equipment are necessary to avoid friction and microbial contamination to the human body.
Global Medical Grade Coating Market 2
Global Medical Grade Coating Market Regional Insights:
North America is driving the health care industry due to the high facilities provided by the country’s government and private organizations. The revenue generated by the medical device coating market in North America was 43.2% in 2019. This factor has accelerated the healthcare industry. Moreover, a rapid increase in the pandemic due to COVID-19 has risen the use of surgeries. The post-COVID 19 complication has also given a positive impact on healthcare industries as patients are suffering from the adverse effect of steroidal treatment given in COVID-19 crises.
Asia Pacific is expected to grow at a high CAGR of 9.4% in the forecast period due to the rising geriatric population and demand for construction in the hospital industry. The unhealthy lifestyle is giving rise to chronic and incurable diseases like diabetes, obesity, heart failures, cancers, and skin-related issues like fungal infection, etc are driving the medical device market, and hence it becomes necessary to increase the durability of medical equipment and devices. Henceforth, the above-mentioned factor is responsible for the growth of the health grade coating market.
Global Medical Grade Coating Market 3
The objective of the report is to present a comprehensive analysis of the global Medical Grade Coating market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Medical Grade Coating market dynamics, structure by analyzing the market segments and project the global Medical Grade Coating market size. Clear representation of competitive analysis of key players by Grade, price, financial position, Grade portfolio, growth strategies, and regional presence in the global Medical Grade Coating market make the report investor’s guide.
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Global Medical Grade Coating Market Scope: Inquire before buying
Global Medical Grade Coating Market 4
Global Medical Grade Coating Market, by Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Global Medical Grade Coating Market Key Players
• The DECC Company
• Hangzhou Kangsheng Medical Equipments Co., Ltd.
• Yangzhou Fuda Medical Devices Co., Ltd.
• Precision Coating Co., Inc.
• Donwell Company, Inc.
• Merit Medical Systems, Inc.
• Harland Medical Systems
• Applied Medical Coatings, LLC.
• Dymax Corporation
• Raleigh Coatings
• Abbott Laboratories
• Biocoat Inc AeonClad
• Bayer Material Science LLC
• Boston Scientific Corporation
• Covalon Technologies Ltd.
• Endura Coatings Ltd
• Specialty Coating Systems Inc.
• TheraSyn Pharmaceuticals Inc.
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