The increase in disposable income in developing regions, a growing percentage of the senior population, and are all contributing towards the development of the global medical coatings market. In addition, the growing need for minimally invasive surgical treatments is expected to propel the global medical coatings market forward.
Doctors make use of a number of procedures in minimally invasive surgery to operate with minimal injuries to the body than open surgery. There is less discomfort, fewer problems, and a shorter hospital stay with minimally invasive surgery. When compared to typical open surgical approaches, this form of surgery has several advantages. It also has a greater accuracy rate than traditional open surgery in many circumstances. Less invasive medical methods are becoming more important than traditional surgical treatments.
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The need for minimally invasive operations has grown as the prevalence of arthritis, cancer, and cardiovascular disorders has grown, all of which need sophisticated surgical treatment. This has increased the demand for lightweight medical gadgets that can traverse through complicated and delicate human structures, such as delivery sheaths, balloon angioplasty catheters, guidewires, intravascular catheters, and implant delivery systems. All these factors are likely to foster growth of the global medical coatings market in near future.
To be effective and work efficiently, medical devices and electronic components require protection. Moisture, water content, and bodily fluids are a few elements that can contaminate lifesaving devices and render them useless. Medical coatings and products provide ideal solutions for most types of substrates, which include plastics, glass, metals, silicone, rubber, and ceramics. Medical devices and components with medical coatings can be sterilized. Due to recent technological advancements, devices and components can be coated with physio-mechnaical coatings, which provide protection against moistness, act as an electrical barrier, and possess favorable chemical properties.
The coatings also provide protection against tribological (lubricous) properties. The impairment of the mucosal lining has also led to the evolution of antimicrobial coatings, which provide protection against microbial function. Nowadays, medical coatings are routinely used to improve the performance of devices and offer better product surface function. Additionally, medical coatings help in reducing friction between devices and tissues and provide support in surface coverage and overall homogeneity. Nearly all medical devices require non-stick coatings over molded electrical insulation and biocompatible and other finishes.
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The global medical coatings market is expected to expand significantly in the coming years. This is due to their prominent use in guide wires, catheters, syringes, hypo tubes, stents, mandrels, and sutures. The rising demand for coatings for lifesaving instruments and devices from the medical and health care industry is anticipated to increase the usage of medical coatings products. Additionally, an increase in demand for durable lifesaving devices from developing economies in Latin America and Asia Pacific, such as India, China, and Brazil, is expected to increase the adoption of medical coatings products. However, the threat of substitutes, product aging, inferior quality clone products, low shelf life, and increase in costs are estimated to hinder the market in the near future. Moreover, changes in government regulations and policies for medical devices in different countries are projected to hamper the global medical device coatings market.
The global medical coatings market can be segmented by type, application, and region. In terms of type, the market can be divided into antimicrobial & hydrophilic coatings and lubricants. Hydrophilic coatings are extensively used on medical products such as introducer sheaths catheters and guide wires to reduce friction. The demand for hydrophilic coatings is projected to be high in the coming years due to advantages of the material such as low friction coefficient, lubricity, and durability. Based on application, the medical coatings market can be categorized into implants, medical devices, medical equipment and tools, and others. The medical devices segment is expected to dominate the market due to rise in demand for health care products.
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In terms of region, the global medical coatings market can be classified into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa (MEA). North America is expected to dominate the global medical coatings market. It is likely to be followed by Europe and Asia Pacific. The market in Asia Pacific is projected to expand at a rapid pace in the coming years. The market in the region is projected to be driven by an expansion in the medical industry, rise in the geriatric population, rise in disposable income, unmet demand for products, and increase in investments in the health care sector by government and private bodies. The global medical coatings market is expanding rapidly due to the presence of large and medium medical equipment and pharmaceutical manufacturing companies.
Some of the key players in the global medical coating market are the Specialty Coating Systems Inc., DECC Company, Precision Coating Co., Inc. Hangzhou Kangsheng Medical Equipments Co., Ltd., Abbott Laboratories , Biocoat Yangzhou Fuda Medical Devices Co., Ltd., SurModics, , Endura Coatings Ltd , Donwell Company, Inc., Harland Medical Systems , Merit Medical Systems, Inc, and Applied Medical Coatings, LLC.
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