Medical Device Polymer Coating Market, By Type, By Application, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
Medical Device Polymer Coating Market size was valued at USD 4,356.23 Million in 2023, expanding at a CAGR of 4.5% from 2024 to 2032.
An apparatus for medical equipment might have a synthetic material layer called polymer coating on its surface. These coatings provide many functions, including lubrication improvement, medication administration, corrosion prevention, biocompatibility enhancement, and friction reduction during insertion or implantation.
Medical Device Polymer Coating Market- Market Dynamics
Increasing collaboration drives market growth
The growing collaboration is expected to drive the market growth during the forecast period. For instance, in July 2023, the acquisition of Chempilots, a European supplier of specialized polymers and production services to the medical device sector, was announced by Biocoat Incorporated, a specialty manufacturer of hydrophilic biomaterial coatings and coating equipment for medical devices. As part of its plan to support medical innovation by offering a wide range of tailored biomaterial solutions, Biocoat is expanding its biomaterial platform offering with this acquisition. By joining Biocoat, Chempilots will have access to new markets and be able to advance their industry-leading polymer development programs.
Medical Device Polymer Coating Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 4.5% over the forecast period (2024-2032)
Based on type segmentation, the Polyethylene segment is expected to capture the largest revenue share over the projected period
Based on application segmentation, the Cardiovascular segment is expected to hold a prominent market share over the forecast period
Based on region, North America is expected to dominate the market over the forecast period
Medical Device Polymer Coating Market- Segmentation Analysis:
The Global Medical Device Polymer Coating Market is segmented based on Type, Application and Region.
Based on the type, the Medical Device Polymer Coating market is bifurcated into Polyethylene, Silicon, Polystyrene, Polypropylene, Polyurethane and Others. The Polyethylene segment is expected to capture the largest revenue share over the projected period. Polyethylene coatings are used in several additional medical devices, such as drug delivery systems, surgical instruments, and endoscopes. The use of medical devices with advanced polymer coatings, such as polyethylene, is being driven by the rising desire for minimally invasive procedures and the rising incidence of chronic diseases.
Based on the application, the global Medical Device Polymer Coating market is segmented into Orthopedic Implants, Cardiovascular, Urology & gastroenterology, Surgical Instruments and Others. The Cardiovascular segment is expected to hold a prominent market share over the forecast period. The segment expansion is attributed to the increasing prevalence of CVD across the globe.
Medical Device Polymer Coating Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market over the forecast period. The regional market expansion is attributed to the rising prevalence of chronic diseases such as CVD, orthopedic implants and others. For instance, a study released today in the Journal of the American College of Cardiology projects a considerable increase in the prevalence of cardiovascular risk factors and disease in the United States by the year 2060. All four CV risk factors are predicted to rise in the general U.S. population between 2025 and 2060, with diabetes seeing the biggest percentage increase at 39.3% to 55 million people, followed by dyslipidemia at 27.6% to 126 million, hypertension at 25.1% to 162 million, and obesity at 18.3% to 126 million.
Medical Device Polymer Coating Market- Competitive Landscape:
The key players operating in the market are Surmodics Inc., Koninklijke DSM NV, Biocoat Inc., AST Products Inc., Hydromer Inc., Harland Medical Systems Inc., Covalon Technologies Ltd, Formacoat LLC, DSM Biomedical, Kisco Ltd, Covestro, Precision Coating Company Inc, Coatings2Go, SCS, Thermal Spray Technologies, Surface Solutions Group, ISurTec, Whitford and AdvanSource Biomaterials. These players adopted various strategies to gain major market share in the industry including product launches, acquisitions, collaboration and others.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL Medical Device Polymer Coating MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Surmodics Inc
Koninklijke DSM NV
Biocoat Inc
AST Products Inc
Hydromer Inc
Harland Medical Systems Inc
Covalon Technologies Ltd
Formacoat LLC
DSM Biomedical
Kisco Ltd, Covestro
Precision Coating Company Inc
Coatings2Go
SCS
Thermal Spray Technologies
Surface Solutions Group
ISurTec
Whitford
AdvanSource Biomaterials
GLOBAL Medical Device Polymer Coating MARKET, BY TYPE- MARKET ANALYSIS, 2019 - 2032
Polyethylene
Silicon
Polystyrene
Polypropylene
Polyurethane
Others
GLOBAL Medical Device Polymer Coating MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
Orthopedic Implants
Cardiovascular
Urology & Gastroenterology
Surgical Instruments
Others
GLOBAL Medical Device Polymer Coating MARKET, BY REGION- MARKET ANALYSIS, 2019 - 2032
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1.Medical Device Polymer Coating Market Overview
1.1.Study Scope
1.2.Market Estimation Years
2.Executive Summary
2.1.Market Snippet
2.1.1.Medical Device Polymer Coating Market Snippet by Type
2.1.2.Medical Device Polymer Coating Market Snippet by Application
2.1.3.Medical Device Polymer Coating Market Snippet by Country
2.1.4.Medical Device Polymer Coating Market Snippet by Region