Industry Background:
It is understandably imроrtаnt that medical devices be соrrоsiоn resistant. That is why medical соаtings have beсоme an essential рart of many medical industry аррliсаtiоns. Though аlreаdy highly utilized in the medical industry, аdditiоnаl research is being done as far as medical соаtings being used in аррliсаtiоns for the spine, finger, elbow, shoulder, and knee joints, асetаbulаr сарs and femoral stems. There are both cold spray and thermal technologies used today in medical coatings. The thermal spray-produced medical coatings are useful for medical instruments and devices needing dielectric insulation.
According to AMA Research, the market for Medical Coatings is expected to register a CAGR of 20.5% during the forecast period to 2030. This growth is primarily driven by Increase in The Use of Minimally Invasive Surgical Procedures.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | K Tons |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Chemicals sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Hydromer Inc. (United States), Kane Biotech Inc. (Canada), N8 Medical Inc. (United States), Surmodics Inc. (United States), Sono-Tek Corp (United States), Abbott Laboratories (United States), Specialty Coating Systems Inc. (United States), Precision Coating Company Inc. (United States), Freudenberg Medical (United States) and AST products Inc. (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
November 2022: Biocoat Incorporated, a specialty manufacturer of hydrophilic biomaterial coatings, solutions, and dip-coating tools for medical devices, announced the strategic investment of GTCR in the company.
On February 5, 2020, Bio coat, Inc., a specialty manufacturer of hydrophilic biomaterial coatings for medical devices, has launched HYDAK UV. The new version of its original HYDAK coating is designed to be cured using ultraviolet (UV) light, allowing for flexible integration with industry-standard UV coating systems.The global market for medical coating is fragmented by major players leading in innovation. The major focus of the players is to associate with a company of specialization and work on more Nano-coatings in order to be compatible with the complex instruments and biocompatibility. Moreover, the infectious treatment is causing an economic burden as a number of patients and public risk health and this should be addressed and worked upon by leading players of the market.
Regulatory Insights:
Antimicrobial coatings should match required FDA compatibility regulations as lubricants, to provide active resistance to microbe absorption and carry-over.
Market Growth Drivers:
Increase in The Use of Minimally Invasive Surgical Procedures
Challenges:
Time-Consuming and Lengthy Process of Material Approval with Government Bodies and Private Bodies Governing testing, Licencing, and Application.
Restraints:
Increasing Raw Material Cost and Initial Cost and Royalty on New Coatings
Opportunities:
Increasing Investments in Research and Development Activities such as Material Technology owing to Rapid Adoption of Devices
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Medical Coatings Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Medical Coatings Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Medical Coatings players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Medical Coatings Study Sheds Light on
The Medical Coatings Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Medical Coatings industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Medical Coatings industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.