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The global medical coatings market size was USD 3,690.0 million in 2019 and is projected to reach USD 7,990.0 million by 2027, exhibiting a CAGR of 9.7% during the forecast period.
Medical coatings have outstanding properties such as low friction, high lubricity, and excellent durability that help extend the service life and enhance medical devices' efficiency. The increasing demand for cardiovascular devices, ventilators, catheters, guide wires, sutures, stents, mandrels, syringes, and other protecting devices used in the medical industry due to the growing number of COVID-19 cases worldwide is expected to boost the market. Concerns over rising cases of Hospital-Acquired Infections (HAIs) are also expected to drive the market. The growing preference for antimicrobial coatings over disinfectants and other cleaning agents is expected to boost the market. The growing demand for minimally invasive surgical procedures is also projected to fuel the growth of the market.
Increasing Utilization of Medical Coatings to Curb COVID-19 spread
Industries and markets around the world have been experiencing severe impacts due to Covid-19, and this effect has been extremely dramatic in the medical device industry. However, while the impact of the pandemic was mostly adverse in many industries, the medical industry has undergone both ups and downs since the pandemic. Massively increased demand for vital appliances such as PPE (Personal Security Equipment), ventilators, and diagnostic kits, along with resulting shortages of such devices have seen companies do whatever they can to keep pace with the ever-increasing demands of healthcare professionals. In particular, the medical device industry is under increasing pressure to quickly manufacture the tests and ventilators required in virtually every area of the world. The European Commission has recently introduced updated harmonized guidelines to speed up the development of surgical masks, gloves, containers for intravenous injections, sterilization instruments and disinfectants, and to amend special criteria for emergency and transport ventilators. The FDA partners with manufacturers of ventilators, ventilator supplies, and other respiratory equipment to better understand the existing supply chain problems related to the pandemic of COVID-19 and to help reduce any possible shortages of these devices.
Bacterial infections are a significant cause of death in ICU patients. Mortality in COVID-19 patients needing specialized respiratory assistance (ventilators) ranged from 66% to 86%. The medical coating is intended to avoid lethal bacterial infections arising in ventilated patients with respiratory virus infections. They are essential when it comes to securing the many kinds of medical devices and equipment used in the healthcare industry during the COVID-19 pandemic. These medical device coatings demand is increasing to prevent the spread of COVID-19 through surfaces and medical tools
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Growing Awareness Regarding Healthcare-related infections (HCAI) to Fuel Product Demand
Healthcare-related infections (HCAI), also known as nosocomial infections, are healthcare complications that result in increased morbidity and mortality for patients. HCAI raises healthcare costs for patients, hospitals, insurers due to prolonged hospitalization and clinical care. There is also a psychological burden on patients, their caregivers, and families, in addition to the opportunity costs following the inability of patients and their caregivers to work, attend school, and others, although the unanticipated reduction in hospital capacity affects healthcare efficiency. It has been reported that HCAI affects around 2 million patients annually in the U.S. alone. HCAI affects about 2 million people per annum, about 90,000 of whom die—coupled with an approximate annual expense ranging from 28 to 45 US$ Billion.
Similarly, the European Center for Disease Prevention and Control (ECDC) estimates that about 4.1 million acute care patients develop an HCAI annually, with 37,000 deaths directly attributed to HCAI. There is more awareness regarding the Gram-positive Staphylococcus aureus-associated outbreaks, while the fact is that gram-negative species pose a greater risk.
Antimicrobial coatings hold promise based, in essence, on the application of materials and chemicals with persistent bactericidal or bacteriostatic properties on surfaces in healthcare environments. Antimicrobial materials aim to provide validated security against various microbial attacks by curbing the growth of unwanted microbes, which can either spread infections or cause degradation of the product. These coatings can also provide protection against fungi, which is commonly considered to be a key feature for distinct outdoor applications. Thus, the wider application of antimicrobial coatings in the healthcare industry is fuelling the demand for the market.
Increasing Use of Minimally Invasive Surgical Procedures to Encourage Lucrative Outcomes
Minimally invasive surgery refers to any surgical operation that is done through minor incisions instead of a large opening. Since the surgeon can make fewer incisions, that requires a shorter healing period and less pressure than conventional open surgery, but with the same advantages as conventional surgery. It also provides a better accuracy rating in many cases relative to conventional open surgery. The value of less invasive medical procedures over traditional surgical procedures is growing. The growing incidence of arthritis, cancer, and cardiovascular disease, which require complicated surgical care, has raised the need for minimally invasive procedures. This has increased the consumption of light medical instruments such as balloon angioplasty catheters, intravascular catheters, delivery sheaths, guide wires, and implant delivery systems that can pass through complicated and vulnerable areas of the body.
These instruments are widely used in cerebrovascular, coronary, and peripheral vascular systems during minimally invasive procedures. They also have hydrophilic and hydrophobic coatings for fast installation of such instruments in narrow vascular areas with minimal tissue injury. Thus, medical coatings play a vital role in encouraging cost-effectiveness and less time-consumption and are strongly favored in these medical procedures. For example, the use of coatings on medical instruments for cardiac and urinary catheterization operations greatly decreases the time required for the medical or surgical operation involved.
High Demand from Medical Device Industry to Boost Market
The aging population, led by declining fertility levels and increasing life expectancy, is a major driver of demand for medical devices. Medical devices play a vital role in providing healthcare, and in improving the health of individuals. The growing prevalence of chronic diseases is projected to be a significant driver of the medical device industry. According to the United Nations, the percentage of overall global deaths attributed to chronic diseases is expected to grow to 70%, and the global prevalence of chronic diseases is expected to hit about 60% by 2030. Extended working hours, limited physical exercise, and unsanitary eating habits are the primary causes of chronic diseases such as diabetes and cancer. The high incidence of infectious diseases further increases the susceptibility of other viral infections, such as coronavirus infection, which seriously affects the lungs of the patient. This would also boost the need for medical devices used to detect and cure a variety of diseases.
Medical device coatings plays a major role in bringing down infection rates further. To provide a safe environment to the patients and staff the healthcare industry has accelerated the adoption of antimicrobial-protected tools. One of the most effective methods to avoid device-associated infections is the modification of medical devices with medical coatings and biomaterials. Health implant surfaces are considered a vital battlefield of biofilm formation, bacterial invasion, and immune reactions. This is also an intensive target for the application and modification of these coatings. Since catheter-related bloodstream infections (CRBSI), and catheter-related urinary tract infections (CAUTIs), ventilator-related pneumonia (VAP) consists of the most common and expensive device-related infections, endotracheal tubes, or urinary catheters, vascular catheters are typically the ultimate test fields for many promising antimicrobial techniques to achieve in vivo and clinical result.
Increasing Raw Material Prices and High Upfront Costs to Thwart Development
The fluctuations in the costs of raw materials directly impact the expense of producing the coatings. Since various types of chemicals are essential to the assessment of the properties of the substrate on which the coating is to be applied, the consistency of the prices of these chemicals helps to control the total production costs of the coatings. The increasing cost of raw materials, such as PTFE, silicone rubber, and is expected to restraint the demand for the market.
The manufacture of medical coatings entails major continuing and upfront costs. There are several old or obsolete patents, and medical coating companies are not permitted to produce new coatings based on previous patents to escape royalties. As a result, up-front payments are expected for access to expired technology. This is likely to hamper the growth of the market. The reduction of all up-front expenses and challenges is supposed to lead to an explosion in technological developments. Formulation of modern medical device coatings includes legal wrangling, negotiating non-disclosure agreements, and other costs.
Hydrophilic coatings Segment to Hold a Significant Share of the Global Market
Based on type, the market is segmented into hydrophilic coatings, Antimicrobial coatings, antithrombogenic coatings, and others. The hydrophilic coatings segment held the major share of the market. Hydrophilic coatings are the type of coatings employed to reduce surface friction and improve lubricity. Hydrophilic coatings make the polymer devices vulnerable to fluids by embedding in covalent bonds to create water-attracting surfaces. The lubricity of the coatings and water retention property lower down the force required to manipulate intravascular medical devices during interventional procedures.
Antimicrobial coatings are anticipated to expand at a rapid pace during the forecast period. The high rate of infection spreading through surfaces is one of the major factors contributing to the worsening of COVID-19. Antimicrobial coatings are applied on various surfaces to limit the growth of microbes, bacteria, and infection-causing germs. Additionally, these coatings also increase the surface durability, corrosion resistance, and aesthetic properties apart from protecting from pathogens.
Fluoropolymer to Emerge as Leading Segment Due to Its Non-Wetting and Inert Nature
In terms of material type, the market is segmented into fluoropolymer, silicone, parylene, metals, and others. The fluoropolymer segment constituted the primary market share. Fluoropolymers are non-wetting and inert which prevents almost every substance from adhering and reacting with a coated surface. These properties make fluoropolymers appropriate for various applications including anesthesia delivery, agitating shafts, sterilization equipment, centrifuge components, saline packaging, and others. Surfaces that are not permitted to get contaminated or get in contact with metal or adulterated substrate are often coated with fluoropolymers to inhibit the permeation and chemical attacks.
Silicone is likely to expand at a rapid pace due to silicone in the medical sector being employed as a primer in between metal surfaces and surface coatings, and as a surface modifier to make surface hydrophobic. The vascular surgical tools are constantly in contact with cell debris and blood and may become fouled. Plasma applied silicone coatings keep the surgeon’s tools cleaner for a longer period.
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Medical Device Segment to Be Leading Segment Due to Increase in Geriatric Population
Based on application, the market is classified into medical devices, medical implants, medical equipment & tools, and others. Various types of coatings are used for coating medical devices, including hydrophilic, hydrophobic, Antimicrobial, antithrombogenic, and other several coatings. Different coatings apply to a different range of applications. Increasing R&D and technological advancement in the medical sector has opened up a wide range of application areas for various medical devices. The increasing geriatric population worldwide is one of the prime factors driving demand for medical devices further boosting the market.
Medical equipment & tools are the most commonly used medical objects which are highly exposed to cell debris, blood, bacteria, and other unwanted objects which can cause contamination and spreading of infections. They need regular sterilization and cleaning to avoid the building up of bacteria and germs. Medical coatings avoid the adherence of foreign objects and chemicals on the tools as well as eliminate the risk of cross-contamination.
North America Medical Coatings Market Size, 2019 (USD Million)
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The market size in North America stood at USD 1,971.2 million in 2019. North America dominated the market and is likely to maintain the trend during the forecast period. Increasing expenditure of healthcare and medical facilities on maintaining hygiene and curbing the spread of diseases through surfaces and medical tools is significantly contributing to the regional demand. For instance, due to the pandemic of COVID-19, there has been extensive research in developing Antimicrobial and antibacterial paints and coatings to combat the spreading of infections through surfaces and medical equipment.
In Europe, the increasing prevalence of arthritis, cancer, vascular diseases, cardiovascular diseases, and cerebrovascular conditions have significantly increased the rate of minimally invasive procedures and surgeries. These instruments are subjected to human internal systems and therefore, often have hydrophilic or hydrophobic coatings according to the area of exposure. This has resulted in growth in demand for the market.
Asia Pacific is expected to expand at a rapid pace attributed to the increase in demand for medical devices and tools such as ventilators, endotracheal tubes, catheters, guidewires, angioplasty catheters, delivery heaths, artificial implants, and others. The high demand for such medical devices is likely to boost the demand for medical coatings. Moreover, China, India, Pakistan, and other countries had a high number of COVID-19 cases which ultimately increased the demand for these products that limit the growth of microbes and other infection-causing germs.
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The economic conditions of Latin America are growing at a considerable pace which is aiding the development of various sectors including medical and healthcare. According to a research study conducted by Americas Market Intelligence (AMI), the geriatric population of Latin America is anticipated to rapidly increase from 10 % (2010) to 21% by 2020. The growing rate of chronic diseases in adults is considered to increase healthcare expenditure. Latin America is expected to adopt technically advanced solutions for the healthcare system, which includes the usage of these medical device coatings.
Increasing investments in the Middle East & Africa’s healthcare systems and adopting medical technologies is driving the market for the market. The considerable number of coating manufacturing industries in the region is estimated to drive the market.
Strategic Planning Adopted by Companies to Strengthen Their Footprint
Companies working in the market are selling their goods with customized services. As the chemical composition of the medical coatings varies on the basis of their use, the firms offer a wide variety of technological services to consumers. Companies in the market differ on the basis of the standard of the goods and the equipment used for the manufacture of the product. Global players focus more on expanding their production plants, building infrastructure, and engaging in R&D. Market players are now searching for ways to integrate strategically through the value chain.
These initiatives help them satisfy growing global demand, maintain competitive productivity, strengthen their sales and strategic plans, produce new goods and technology, reduce their cost of production, and grow their customer base.
An Infographic Representation of Medical Coatings Market
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The market research report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, products, and applications. Also, the report offers insights into medical coatings market trends and highlights vital industry developments. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the high growth rate of the market over recent years.
This report includes historical data & forecasts revenue growth at global, regional, and country levels, and analyzes the latest market dynamics and opportunities in the industry.
Value (USD Million) and Volume (Tons)
Type; Material Type; and Application; Region
By Material Type
Fortune Business Insights says that the global market size was USD 3,690.0 million in 2019 and is projected to reach USD 7,990.0 million by 2027.
In 2019, the North American market stood at USD 1,971.2 million.
Growing at a CAGR of 9.7%, the market will exhibit steady growth in the forecast period (2020-2027).
The medical device segment is expected to be the leading segment in this market during the forecast period.
Increasing use of minimally invasive surgical procedures is expected to drive the market.
Hydromer, Harland Medical Systems, Surmodics, Inc., DSM, Biocoat Incorporated are major players in the global market.
North America dominated the market share in 2019.
The growing awareness regarding healthcare-related infections (HCAI) is likely to aid the adoption of such products.
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