Medical Coatings Companies Offering Versatile Solutions to Improve Patient Lives, says Market.us

Akash Pasalkar
Akash Pasalkar

Updated · Jan 30, 2023

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Medical coatings are now an integral part of many medical industry applications. Medical coatings are already widely used in the hospital industry. However, more research is underway to determine if medical coatings can be used in applications for the spine and fingers, elbow, shoulder, and knee joints, acetabular cap, and femoral stems.

According to the latest report by Market.us,” The medical coatings market size is expected to be worth around USD 27.84 billion by 2032 from USD 12.2 billion in 2022, growing at a CAGR of 8.6% during the forecast period from 2022 to 2032.”

Medical Coatings Market Growth 2022-2032

The fast-growing medical coatings market offers exciting growth opportunities for competitors. A recent report by Market.us highlights some key strategies companies can adopt to benefit from the latest industry trends.

The report highlights the key trends that will shape the medical coatings market going forward by giving information on the size of this fast-growing market development, drivers, trends, and which regions and segments are most important.

Gaurav Yadav, a senior research analyst at Market.us, said,” Hospitals are becoming more cost-conscious and are investing in medical equipment that can help them improve their patients’ lives. Medical coatings companies must be able to offer many different coating options for each type of orthopedic implant. This requires higher-level technology and expertise and an appreciation for artistic manufacturing methods.”

Innovation in medical device design is key to moving the industry forward. It allows for new devices to address more health problems than ever before. This innovation does not just come from the manufacturer’s side but also from the patient’s.

The emergence of nanotechnology, the rising market for multifunctional coating, and the complex design of medical devices that require atomic layer deposition will provide additional growth opportunities for the medical coatings market during the forecast period.

Medical device manufacturers have been challenged to develop biocompatible, high-performance medical device coatings that meet these devices’ requirements. Multiple types of medical device coatings exist on the market today to support the multifunctionality and unique features of new medical devices.

North America was the dominant market for medical device coatings in 2019, with a 42.1% revenue share. This is due to favorable healthcare resources and rising numbers of cardiometabolic diseases such as Pulmonary Embolis (PE) or Deep Vein Thrombosis. 

In the future, the demand for medical device coating will rise due to the rising number of COVID-19-positive cases, the high adoption, and quality of advanced surgical treatments, as well as the growing healthcare infrastructure in the U.S.

Due to their cost-effectiveness, less time consumption, and high preference for medical procedures, medical-grade coatings are highly recommended. The time taken to perform medical and surgical procedures is greatly reduced by the use of medical instrument coatings for catheterizations. These factors will likely influence market growth.

The development of invasive surgery methods is possible thanks to technological advances. They are much less painful than open surgeries. Because there are fewer complications during surgery, even the accuracy rates of the surgery can be better than open surgery.

Many lightweight medical devices, such as Intravascular and balloon angioplasty guidewires, are required to perform these minimally invasive surgical procedures. They can navigate through sensitive areas of the body with ease. These devices are used primarily in cerebrovascular, peripheral vascular, and cardiovascular surgeries. These devices require coatings in order to function effectively.

Due to the increased healthcare needs, there is a greater demand for medical equipment such as diagnostics tests, cameras, ventilators, and surgical equipment. These devices can navigate through complex and intricate body parts. These devices can be inserted into narrow and twisted vasculature with hydrophilic coatings to reduce tissue damage and ease their use.

For implantable devices, silver, titanium, and gold are the most common metals used for coating materials. Ceramic-based coatings can also significantly lower the cost of certain implants, such as spatulas and forceps. The market will see better ceramic-coated implants, which are durable and more cost-effective, through research and development in bio-ceramic technology.

Another type of medical equipment coating material is a polymer. Their consumption will see the second fastest growth after metallic coatings. These coatings are used to manufacture stents and implants for controlled-release bioactive pharmaceuticals. As such, medical device coatings will continue to grow in demand as implants and other medical devices become more popular.

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Akash Pasalkar

Akash Pasalkar

My name is Akash Pasalkar, A computer science engineer by qualification and a Digital Marketer by profession.. And I am passionate about SEO and Content Writing.