Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Medical Coatings Market size was over USD 5.17 billion in 2024 and is poised to exceed USD 17.23 billion by 2037, growing at over 9.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of medical coatings is evaluated at USD 5.6 billion.
The growth of the market can be attributed to the increasing awareness related to healthcare-associated infections (HCAI), and growing usage of minimally invasive surgical procedures globally. In 2018, robot-assisted surgeries accounted for more than 13% of all the general surgeries performed in the world, up from about 2% in the year 2012.
Along with these, rising demand for lightweight medical equipment that can navigate through complex procedures is also expected to drove market growth in the upcoming years. Furthermore, high requirement for quality healthcare, and escalating government expenditures in healthcare in developing nations are projected to offer lucrative opportunities to the market in the near future.
Medical Coatings Sector: Growth Drivers and Challenges
Growth Drivers
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Increasing Awareness Associated with Healthcare-Related Infections (HCAI)
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Growing Usage of Minimally Invasive Surgical Procedures Globally
Challenges
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Fluctuation in the Prices of Raw Materials
Medical Coatings Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
9.7% |
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Base Year Market Size (2024) |
USD 5.17 billion |
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Forecast Year Market Size (2037) |
USD 17.23 billion |
|
Regional Scope |
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Medical Coatings Segmentation
The market is segmented by application into medical device, medical implants, medical equipment & tools, protective clothing, and others, out of which, the medical device segment is anticipated to observe notable growth in the global medical coatings market. This can be accounted to the growing use of medical devices in developing nations, such as China and India, and rising production of devices, including catheters, in-vitro diagnostic devices, cannulas, and ventilators. Additionally, on the basis of type, the anti-microbial segment is predicted to acquire the largest share during the forecast period owing to the high compatibility of this coating with a variety of materials, that include carbon fiber, plastic and metal. Apart from this, surging utilization of microbial coatings in implantable devices is also evaluated to boost the market segment growth in the future.
Our in-depth analysis of the global market includes the following segments
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By Type |
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By Application |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Medical Coatings Industry - Regional Synopsis
Regionally, the global medical coatings industry is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is estimated to dominate majority revenue share by 2037, impelled by increasing number of hospitals, and growing investments to improve healthcare facilities in the region. Moreover, the market in North America is expected to grab the largest share during the forecast period ascribing to the rising adoption of advanced surgical treatments. In addition, high healthcare spending, and strong presence of market players in the region are also projected to drive market growth significantly in the near future. As per the Centers for Medicare & Medicaid Services, the healthcare spending in the United States grew 9.7% in 2020, reaching USD 4.1 trillion or USD 12,530 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 19.7%.
Companies Dominating the Medical Coatings Landscape
- Koninklijke DSM N.V.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Biocoat Inc.
- Endura Coatings
- Freudenberg Medical LLC
- Harland Medical Systems Inc.
- Hydromer Inc.
- Materion Corp.
- Merit Medical Systems Inc.
- Precision Coating Co. Inc.
- Surmodics Inc.
Recent Developments
- In November 2023, Surmodics, Inc. rolled out its new Preside hydrophilic coating technology for medical devices. This cutting-edge coating is designed to improve both the durability and lubricity of advanced devices used in peripheral vascular, neurovascular, and coronary procedures.
- In March 2022, DSM Biomedical, a leading biomaterials company, partnered with Svelte Medical Systems, known for its balloon-expandable stents, to develop DISCREET Bioresorbable Coating Technology. This technology is designed for use with SLENDER IDS and DIRECT RX Bioresorbable Coated Drug-Eluting Stent (DES) Systems.
- September 2020- Freudenberg Medical announced the acquisition of the dedicated manufacturing equipment and associated assets of the hypotube manufacturing business of Merit Medical Systems, Inc.
Author Credits: Radhika Pawar
- Report ID: 3897
- Published Date: Dec 24, 2024
- Report Format: PDF, PPT
