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The global medical coatings market size is anticipated to show strong progress by reaching USD 8.20 billion by 2029. Fortune Business Insights™ in its report titled “Medical Coatings Market Size, Share & COVID-19 Impact Analysis, By Type (Hydrophilic Coatings, Antimicrobial Coatings, Antithrombogenic Coatings, and Others), By Material Type (Fluoropolymer, Silicone, Parylene, Metals, and Others), By Application (Medical Device, Medical Implants, Medical Equipment & Tools, and Others), and Regional Forecast, 2022-2029” observes that the market size in 2021 stood at USD 3.95 billion and is expected to reach 4.27 billion in 2022. The market is expected to witness a strong CAGR of 9.8% during 2022-2029. The rising need for antimicrobial coatings is projected to drive market growth. Increasing preference of minimally invasive surgical procedures to increase market expansion.
Partnership Between Hydromer and N8 Medical for Market Progress
In April 2020, Hydromer and N8 Medical entered into a partnership agreement for ET coated tubes for COVID-19 patients. Hydromer will be exclusively supply the coatings and manufacturing partner of N8 Medical’s CeraShield Endotracheal tube. This new partnership between Hydromer and N8 Medical is expected to drive the medical coatings market growth. It is anticipated to offer their products to an expanded customer base.
High Demand from the Medical Industry to Fuel Market Expansion
Increasing demand from the medical industry for medical devices is expected to aid market growth. High demand for medical devices, such as cameras, diagnostics tests, ventilators, surgical equipment, implants, and other medical equipment, is projected to surge the demand for fertilizer spreader. Medical coatings are used to coat such devices that help in reducing infection rates, which is anticipated to propel market growth. They offer safe environment for staff and patients in the healthcare industry.
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https://www.fortunebusinessinsights.com/medical-coatings-market-104536
Advanced Coating Technologies to Inflate Market Trajectory
According to the World Health Organization (WHO), healthcare infections caused by antimicrobial-resistant pathogens can cause problems. Therefore, there is development of new anti-microbial and medical coatings using various materials, components, and production techniques. Prevalence and increasing rate of infectious and contagious diseases are expected to give rise to R&D activities.
Market Players Adopted New Product Developments to Strengthen their Product Portfolio
Key players of the market have opted for new product development and new product launch strategies. For example, in March 2022, DSM Biomedical and Svelte Medical Systems collaborated for developing DISCREET Bioresorbable Coating Technology used with SLENDER IDS and DIRECT RX Bioresorbable Coated Drug-Eluting Stent (DES) Systems. Furthermore, companies have taken up strategies of enhancing their existing manufacturing process to surge the product demand efficiently to strengthen market growth.
Notable Industry Development
List of Key Companies Profiled in the Report:
Further Report Findings
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2018-2029 |
Base Year | 2021 |
Estimated Year | 2022 |
Forecast Period | 2022-2029 |
Historical Period | 2018-2020 |
Unit | Value (USD Billion), Volume (Tons) |
Segmentation | By Type, Material Type, Application, and Region |
By Type |
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By Material Type |
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By Application |
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By Region |
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