Medical Grade Coatings Market: Introduction
- Significant increase of global population, rise in geriatric population, and advancement in technology are expected to boost the global medical grade coatings market
- High awareness regarding hygiene and high incidence of infections are boosting the adoption of medical grade coatings in hospitals. This is expected to contribute to the market growth.
Key Drivers and Restraints of Global Medical Grade Coatings Market
- Almost all types of medical devices need medical grade coatings. These include x-ray scanners, sticking plasters, dentures, hip joints, and in-vitro diagnostic devices. Medical devices play an important role in monitoring, diagnosing, and sometimes even treating illnesses and disabilities. Medical grade coatings help ensure that bacteria does not enter the human body through these medical devices. Besides, lubricated variants reduce the chances of injury. Therefore, they are critical in maintaining patient safety and even increasing the life of medical devices.
- Continued technological advancements to make better products such as the recently launched fluorinated, silver and spin coatings, are likely to drive the global medical grade coatings market. The usage of hydroxyapatite and micro-blasting technique also seems promising.
Global Medical Grade Coatings Market: Segmentation
- The global medical grade coatings market can be segmented in terms of coating type, material type, and application
- Based on coating type, the market can be divided into hydrophilic and hydrophobic. Demand for hydrophilic is high, as these coatings have lubricity, durability, and low friction coefficient.
- Based on type, the market can be divided into polymers, metals, and others. Demand for polymers is expected to be high among consumers.
Global Medical Grade Coatings Market: Regional Segmentation
- In terms of region, the global medical grade coatings market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America is expected to dominate the global medical grade coatings market during the forecast period owing to increasing population of people of age 65 and above. By 2060, the U.S. alone is anticipated to have population of 95 million people in the stated age bracket. Besides, the U.S. Government is focused on improving health care services. The U.S. is one of the largest players in the medical device market. In 2017, it held 40% share of the global medical device market. Besides, the U.S. medical manufacturers control over 50% of Canadian market, which is both mature and sophisticated, owing to an impressive demand for quality devices.
COVID-19 Impact on the Global Medical Grade Coatings Market:-
- Demand for medical equipment has increased significantly during the COVID-19 pandemic. As a result, demand for medical grade coatings has increased exponentially. All major countries have been affected by the COVID-19 pandemic. Furthermore, many countries are now facing third and fourth wave of the COVID-19 pandemic. This is expected to drive the medical grade coatings market in the near future.
Key Players Operating in Global Market
- Medtronic PLC
- Koninklijke DSM NV
- SurModics, Inc.
- Speciality Coating Systems Inc.
- Precision Coating Co. Inc.
- Biocoat Inc.
- Covalon Technologies Ltd.
- Harland Medical Systems Inc.
- Medicoat, Inc.
Global Medical Grade Coatings Market: Research Scope
Global Medical Grade Coatings Market, by Coating Type
Global Medical Grade Coatings Market, by Material Type
Global Medical Grade Coatings Market, by Application
- Medical Device
- Medical Implants
- Medical Equipment & Tools
- Protective Clothing
Global Medical Grade Coatings Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa