Medical Coating Industry Will Be Fiercely Competitive in 2026
Posted by rushikesh on April 23rd, 2019
Medical devices are susceptible to various kind of microbial infection such as bacterial, viral, and fungal infection resulting into health care-associated infections in patients. Medical coating is considered as a covering applied on the medical devices including implants or any kind of equipment to prevent formation of biofilm or to alter physical properties such as lubrication. The increasing cases of infection occurring through medical devicesn is propelling demand for medical coating for the devices in the market. According to European Centre for Disease Prevention and Control, in 2015, around 8.3% of patients staying in intensive care unit for more than two days were detected with at least one health care-associated infections, which suggests the importance of proper coating for the medical usables. Medical coating has wide applications in orthopaedics, cardiology, neurology, ophthalmology, cosmetic surgery, drug delivery system, and many more. Increasing global population, health issues, and growth in number of healthcare centres are expected to drive growth of the medical coating market over the forecast period.
Medical Coating Market - Drivers
Increasing Demands for implantable devices and alteration from conventional operational practice to minimally invasive medical procedure act as significant drivers for growth of the medical coating market. Increasing global population with healthcare issues and increasing awareness regarding advancement of medical treatments are propelling demand for implantable devices such as dental implants, orthopaedic implants, neurostimulator device, and breast implants. According to American Association of Orthopaedic Surgeons report, 2014, in U.S. around 4.5 million people are with artificial hip and 6.7 million people with artificial knee in 2010. According to Mayo Foundation for Medical Education and Research, around 370000 Americans receive cardiac pacemakers annually. These data shows only small segment of implantable device and likewise increases use will also increase chances of microbial infection, which can be avoided by using medical coating. This is expected to drive growth of the medical coating market over the forecast period.
The main property of medical coating exploited for minimally invasive medical practice is its surface properties such as lubrication for device, which enters the body tissue. Increasing inclination of population towards minimally invasive medical procedures is a major factor driving the growth of the medical coating market. According to American Society of Plastic Surgeons (ASPS), cosmetic procedures continues to grow over the last year and there is shift in the type of procedure patients choose from conventional medical practice to preferable use of minimally invasive medical procedure. In the U.S., minimally invasive cosmetic procedures performed in 2015 has increased by 2% as compared to 2014 as per ASPS.
Advancements in technology such as target specific drug delivery system plays an important role in driving growth of the medical coating market. In 2017, Precision Coatings Co. Inc., a leading player in Fluropolymers applicator collaborated with DCHN LLC, specialised in anodic coating and printing expert, to combine their expertise to provide best in class medical coating service. Moreover, the key players adopt merger and acquisition strategies to thrive into the medical coating market. For instance, in 2011, Kensey Nash Corporation, a medical device company, acquired Nerites Corporation, a developer of medical adhesive and anti-fouling coating. The acquisition is intended to explore Nerites anti-fouling technology for preventing bacterial biofilm formation.
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Medical Coating Market - Restraints
The global medical coating market is restrained by time-consuming regulatory approvals and low shelf life. Advancement in medical device, equipment or implantable devices propel the demand for medical coating, which is strictly monitored by regulatory organisations such as FDA.
Medical Coating Market - Competitors
Key players operating in medical coating market include Freudenberg Medical Europe GmbH, Surmodics Inc., Hydromer Inc., Precision Coatings Co. Inc., AST Products Inc., Abbott Laboratories, Biocoat Inc., Covalon Technologies Ltd., Harland Medical Systems Inc., and Specialty Coating Systems Inc.
Medical Coating Market - Taxonomy
By Coating Types
Hydrophobic Surface Coating
Hydrophilic Surface Coating
By Chemical Used
Medical Equipments and Tools
By End User
Ambulatory Surgical Centers
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