Medical Coatings Market worth $15.2 billion by 2025 - Exclusive Report by MarketsandMarkets™

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Aug 31, 2020, 08:30 ET

CHICAGO, Aug. 31, 2020 /PRNewswire/ -- According to the new market research report "Medical Coatings Market by Coating Type (Active, Passive), Material Type (Polymers, Metals), Application (Medical Devices, Medical Implants, Medical Equipment & Tools, Protective Clothing), And Region – Global Forecast To 2025", published by MarketsandMarkets™, the global Medical Coatings Market size is expected to grow from USD 6.0 billion in 2020 to USD 15.2 billion by 2025, at a CAGR of 20.5% during the forecast period.

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Browse in-depth TOC on "Medical Coatings Market"
84 – Market Data Tables
39 – Figures
179 – Pages

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Passive medical to be the largest coating type segment.

The passive coatings segment accounts for the largest share of the overall market. Hydrophilic coatings are widely used on guidewires, catheters, and introducer sheaths to lower friction coefficient. These coatings have properties such as lubricity, durability, low friction coefficient, and low particulate count. Hydrophobic coatings are water- or fluid-repellent and hence suitable for medical equipment. Minimal invasion and easy insertion of medical devices in biological openings offered by the hydrophilic coatings and excellent water repellent properties exhibited by the hydrophobic coatings are responsible for the large market size of passive medial coatings.

Polymers to be the fastest-growing material type segment.

Polymer-based medical coatings are used in medical devices, medical equipment & tools, protective clothing, and medical implants. They are necessary to optimize durability and corrosion resistance while minimizing the coefficient of friction. Major subtypes of polymer coatings used on medical devices, medical implants, and other applications are fluoropolymers, silicone, parylene, and polyurethanes. Easy availability, low cost, optimum performance, multifunctionality, and low particulate technology are boosting the polymer-based medical coatings market.

Medical devices to be the fastest-growing application segment.

The medical coatings market is segmented based on application into medical devices, medical implants, medical equipment & tools, protective clothing, and others. The medical devices segment accounted for the largest market share in 2019. Increased use of medical devices in the emerging economies, such as China and India, has led to the high growth of the market. The pandemic has further increased the demand for medical devices, such as catheters, guidewires, endotracheal tubes, positive pressure breathing devices, in-vitro diagnostic devices, cannulas, ventilators, ventilator accessories, infusion pumps, respirators, and other devices.

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APAC to grow with the fastest CAGR during the forecast period.

APAC is projected to lead the medical coatings market during the forecast period. The growing population, rising percentage of the geriatric population, augmenting healthcare investments, and increasing income levels in the region are the major drivers for the medical coatings market in the region. The healthcare industry in APAC has been experiencing positive transformations in the healthcare system in terms of healthcare infrastructure and public-private partnerships. These factors are also responsible for the highest CAGR of the market in the region.

Between 2019 and 2020, the medical coatings market has observed a high growth rate due to COVID-19 and the increased demand across the world. The demand for medical devices and supplies, such as ventilators, personal protective equipment (PPE), respirators, and protective clothing, is on the rise to combat COVID-19. This is propelling the demand for antimicrobial, anti-fog, hydrophilic, and hydrophobic coatings. However, the demand for medical coatings used on implants is expected to grow with CAGR less than that of medical devices. As an overall result of the impact on demand for different applications, the medical coatings market is expected to witness a positive impact in 2020.

The medical coatings market comprises major players such as DSM (Netherlands), Hydromer (US), Surmodics (US), Biocoat (US), AST Products (US), Covalon Technologies (Canada), Harland Medical Systems (US), Applied Medical Coatings (US), Freudenberg (US), and Merit Medical OEM (US).

Browse Adjacent Markets: Active Implantable Medical Devices Market Research Reports & Consulting

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