The global medical coatings market size is projected to grow from USD 6.0 billion in 2020 to USD 15.2 billion by 2025, at a CAGR of 20.5% during the forecast period. The major factors driving the market are the rising income levels in emerging economies, a growing percentage of the geriatric population, and the increasing use of home healthcare facilities.
The major players in the medical coatings market include DSM (Netherlands), Hydromer (US), Surmodics (US), Biocoat (US), AST Products (US), Covalon Technologies (Canada), Harland Medical Systems (US), Applied Medical Coatings (US), Freudenberg (US), and Merit Medical OEM (US). These players have adopted various growth strategies to expand their presence in the market further. New product launch, agreement & collaboration, merger & acquisition, partnership, and investment & expansion have been the leading strategies adopted by the major players in the last five years to strengthen their competitiveness and broaden their customer base in the global medical coatings market.
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Polymer-based medical coatings are used in medical devices, medical equipment & tools, protective clothing, and medical implants. They are necessary to optimize durability and corrosion resistance while minimizing the coefficient of friction. Major subtypes of polymer coatings used on medical devices, medical implants, and other applications are fluoropolymers, silicone, parylene, and polyurethanes. Easy availability, low cost, optimum performance, multifunctionality, and low particulate technology are boosting the polymer-based medical coatings market.
The medical coatings market is segmented based on application into medical devices, medical implants, medical equipment & tools, protective clothing, and others. The medical devices segment accounted for the largest market share in 2019. Increased use of medical devices in the emerging economies, such as China and India, has led to the high growth of the market. The pandemic has further increased the demand for medical devices, such as catheters, guidewires, endotracheal tubes, positive pressure breathing devices, in-vitro diagnostic devices, cannulas, ventilators, ventilator accessories, infusion pumps, respirators, and other devices.
Hydromer is the largest player operating in the medical coatings market. The company offers a wide range of medical coatings for various applications, such as stents, dental implants, orthopedic devices, tunneling catheter fixation, pacemaker fixation, ocular catheter fixation, and other medical device applications. The company has adopted partnership, agreement, and investment & expansion strategies to broaden its product portfolio and maintain its position in the market.
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In November 2020, Hydromer partnered with N8 Medical for the supply of coatings to manufacture CeraShield endotracheal tubes. These tubes play a crucial role in the treatment of COVID-19 patients. This development exhibits active involvement of the company in the coatings market.
DSM is one of the largest producers of medical coatings in the world. The company offers a wide range of medical coatings. It has a portfolio that suits various medical device applications such as introducer sheaths, guidewires, access systems, guiding catheters, diagnostic catheters, balloon catheters, thrombectomy devices, aspiration catheters, neurovascular catheters, stent delivery systems, stent-graft delivery systems, heart valve delivery systems, foley catheters, and intermittent catheters. In recent years, DSM has adopted partnership as a key business strategy to strengthen its position in the market and maintain its leading position in the medical coatings market.
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In January 2016, DSM Biomedical partnered with Vention Medical, a global integrated solutions partner. The partnership offers integration of development, testing, and application of DSM’s ComfortCoat coating into the catheter manufacturing process. This development eliminates the need to transfer finished products to another supplier for development and coating application services.
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