Medical Coatings Market Growth Drivers, Size, Industry Revenue, Business Forecast to 2027

 The global medical coatings market size is expected to reach USD 7,990.0 million by 2027, exhibiting a CAGR of 9.7% during the forecast period. The increasing preference for antimicrobial coatings over disinfectants and other cleaning agents will enable speedy expansion of the market, states Fortune Business Insights, in a report, titled “Medical Coatings Market Size, Share & COVID-19 Impact Analysis, By Type (Hydrophilic Coatings, Anti-microbial Coatings, Anti-thrombogenic 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, 2020-2027.” The market size stood at USD 3,690.0 million in 2019.

List of Top Companies in the Medical Coatings Market are:

• Hydromer (New Jersey, U.S.)
• Harland Medical Systems (Minnesota, U.S.)
• Surmodics, Inc. (Minnesota, U.S.)
• DSM (Heerlen, Netherlands)
• AST Products, Inc. (Massachusetts, U.S.)
• Biocoat Incorporated (Philadelphia, U.S.)
• Precision Coating Company, Inc (Massachusetts, U.S.)
• Medicoat AG (Mägenwil, Switzerland)
• Merit Medical Systems, Inc. (Utah, U.S.)
• Specialty Coating Systems Inc. (Indianapolis, U.S.)
• Other Key Players

Key Market Driver:

Surging Minimally Invasive Surgical Procedures to Incite Market Development

The increasing number of minimally invasive surgeries around the world will spur opportunities for the market in the forthcoming years. The growing shift from traditional surgical procedures to less invasive medical procedures owing to its better accuracy rate will bolster the healthy growth of the market. The increasing incidence of arthritis, cancer, and cardiovascular diseases can have a tremendous impact on the global market. Furthermore, the utilization 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, which, in turn, will improve the prospects of the market.

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https://www.fortunebusinessinsights.com/medical-coatings-market-104536

Their wide use in cerebrovascular, coronary, and peripheral vascular systems during minimally invasive procedures can promote the growth of the market. Besides, the increasing use of such coatings on medical instruments for cardiac and urinary catheterization operations to reduce time consumption will effectively propel the growth of the market in the forthcoming years.

Heavy Demand for Medical Devices to Aid Market amid Coronavirus

The mounting demand for medical equipment such as PPE (Personal Security Equipment), ventilators, and diagnostic kits among healthcare professionals will ultimately enhance the progress of the market during coronavirus. The need for test kits and ventilators has posed enormous pressure on the medical industry. 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. However, the existing supply chain problems related to the pandemic can relatively affect the market amid coronavirus.

Emphasis on Value Chain Activities by Industry Players to Fortify Business

Prominent companies are now searching for ways to strategically improve their value chain activities. These initiatives will help companies to cater to the growing global demand, boost productivity, strengthen their sales and market presence, produce new goods and technology, and reduce their cost of production and grow their customer base.

Regional Analysis:

Rising Prevalence of Cardiovascular Diseases to Enable Growth in Europe

The market in Europe is expected to hold the largest share owing to the increasing prevalence of arthritis, cancer, vascular diseases, cardiovascular diseases, and cerebrovascular conditions. The growing number of minimally invasive procedures and surgeries will foster growth in the region. Asia Pacific is expected to expand radically during the forecast period owing to the growing demand for medical devices and tools such as ventilators, endotracheal tubes, catheters, guidewires, angioplasty catheters, delivery heaths, artificial implants, and others. The surging cases of coronavirus in China, India, and Pakistan will spur demand for medical coatings, which, in turn, will stimulate the growth of the market in Asia Pacific.