The global medical device coating market size expected to reach US$ 12,818.01 million by 2028 and registering at a CAGR of 7.7% from 2022 to 2028, according to a new research study conducted by The Insight Partners.
Metal Segment by Material Type to Account for Largest Share in Medical Device Coating Market during 2022–2028
Top Companies Analysis- Koninklijke DSM NV, Hydromer Inc, Surmodics Inc, Biocoat Inc, AST Products Inc, Covalon Technologies Ltd, Harland Medical Systems Inc, Precision Coating Company Inc, Kisco Ltd, and Formacoat LLC are among the leading companies operating in the global medical device coating market.
According to our latest study on “Medical Device Coating Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material Type, Devices, Coatings, and Application,” the market is expected to grow from US$ 7,644.09 million in 2021 to US$ 12,818.01 million by 2028; it is estimated to grow at a CAGR of 7.7% from 2022 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.
Based on material type, the medical device coating market is segmented into polymer, metal, and others. In 2021, the metal segment held the largest market share. However, the polymer segment is anticipated to register the highest CAGR during the forecast period. Based on devices, the market is segmented into medical equipment and tools, medical devices, medical implant, and others. In 2021, the medical devices segment accounted for the largest market share. However, the medical equipment and tools segment is expected to register the highest CAGR from 2022 to 2028. Based on coatings, the medical device coating market is segmented into hydrophilic coating, anti-microbial coating, drug-eluting coating, anti-thrombogenic coating, and others. The hydrophilic coating segment held the largest market share in 2021 and is expected to register the highest CAGR from 2022 to 2028. Based on application, the medical device coating market is segmented into infection diseases, general surgery, orthopedic, neurology, and others. In 2021, the others segment held the largest market share. Also, the same segment is expected to register the highest CAGR from 2022 to 2028.
Medical devices are required for various invasive and minimally invasive surgical and diagnostic procedures, including laparoscopy, biopsy, and endoscopy. Laparoscopic ureterolithotomy, a process of removing stones from the ureter, is performed using a laparoscope and catheters. The use of coated medical devices significantly reduces the time taken for cardiac and urinary catheterization. Coatings prevent infections during biopsy, excision, and cryotherapic diagnostic procedures where the contact between medical devices and body is integral. Besides, coated medical devices are significantly cost-effective. Thus, the mentioned factors fuel the medical device coating market growth.
The COVID-19 pandemic bolstered the medical device coating market. Additionally, medical devices coated with biomaterials show promising results in invasive surgical catheters, driving the need for antiviral coatings. The main aim of biomaterials was to offer durability alongside cost-effective solutions for healthcare and practitioners. Therefore, the procurement of coated medical devices was high amid the pandemic. Also, the medical device coating market is expected to grow during the forecast period.
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