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Coatings for Medical Devices - Global Strategic Business Report

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    Report

  • 450 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 2832319

Global Coatings for Medical Devices Market to Reach $21.7 Billion by 2030

The global market for Coatings for Medical Devices estimated at US$11.3 Billion in the year 2022, is projected to reach a revised size of US$21.7 Billion by 2030, growing at a CAGR of 8.5% over the analysis period 2022-2030. Anti-Microbial, one of the segments analyzed in the report, is projected to record 9% CAGR and reach US$7.7 Billion by the end of the analysis period. Growth in the Drug-Eluting segment is estimated at 7.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $4.5 Billion, While China is Forecast to Grow at 10.5% CAGR

The Coatings for Medical Devices market in the U.S. is estimated at US$4.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2030 trailing a CAGR of 10.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.8% and 7.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.3% CAGR.

Select Competitors (Total 85 Featured)

  • Boston Scientific Corporation
  • AdvanSource Biomaterials Corporation
  • AST Products, Inc.
  • Biocoat, Inc.
  • BryCoat, Inc.
  • Cam Bioceramics BV
  • Boston Scott Corporation
  • Accentus Medical Ltd.
  • Allvivo Vascular, Inc.
  • Applied Plastics Co., Inc.
  • Bactiguard
  • Becton Dickinson
  • Carestream Contract Manufacturing
  • Biointeractions Ltd.
  • Biomerics, LLC

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and trademarked research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Frequently Asked Questions about the Coatings for Medical Devices Market

What is the estimated value of the Coatings for Medical Devices Market?

The Coatings for Medical Devices Market was estimated to be valued at $11.3 Billion in 2022.

What is the growth rate of the Coatings for Medical Devices Market?

The growth rate of the Coatings for Medical Devices Market is 8.5%, with an estimated value of $21.7 Billion by 2030.

What is the forecasted size of the Coatings for Medical Devices Market?

The Coatings for Medical Devices Market is estimated to be worth $21.7 Billion by 2030.

Who are the key companies in the Coatings for Medical Devices Market?

Key companies in the Coatings for Medical Devices Market include Boston Scientific Corporation, AdvanSource Biomaterials Corporation, AST Products, Inc., Biocoat, Inc., BryCoat, Inc., Cam Bioceramics BV, Boston Scott Corporation, Accentus Medical Ltd., Allvivo Vascular, Inc. and Applied Plastics Co., Inc..

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Impact of Covid-19 and a Looming Global Recession
  • The Never-Ending “Race” Between the Virus & Vaccines Continues. Amidst this Chaotic Battle, Where is the World Economy Heading Now & Beyond?
  • Omicron Variant Brings Back Memories & Fears of the Worst Part of the 2020 Pandemic
  • Time is of Essence! What We Know So Far - “Vaccine Efficiency Against New Strains”
  • With New Strains Emerging at an Alarming Rate, Focus Shifts to Booster Doses & Vaccine Tweaking. But How Practical Is It to Implement Them?
  • With Vaccinated Population Showing Signs of Declining Clinical Protection, Booster Doses Are Emerging Into a Necessity to Restore Vaccine Effectiveness: Number of Booster Doses Administered Per 100 People by Country as of December 2021
  • With IMF Making an Upward Revision of Global GDP for 2022, Companies Are Bullish About a Continuing Economic Comeback Despite a Prolonging Pandemic
  • A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Medical Devices COVID-19 Impact, Market Reset & the New Normal
  • COVID-19 Falters Expansion of Global Medical Device Coating Market
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • Coatings for Medical Devices - A Prelude
  • Classification of Medical Devices
  • Coatings Reduce Wear and Friction of Medical Devices
  • Global Medical Device Coating Market Displays Exciting Shades of Prosperity
  • Antimicrobial Coatings Hold Major Slice of Medical Device Coating Market
  • Hydrophilic Coatings to Exhibit Faster Growth
  • Cardiovascular Device Coatings Remain Primary Application Segment
  • The US and Europe Rule, while Asia-Pacific Emerges as Fastest-Growing Market
  • US - The Largest Region
  • Competitive Landscape
  • WORLD BRANDS
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Rising Incidence of Hospital Acquired Infections Boost Demand for Antimicrobial Coatings for Medical Devices
  • Increasing Incidence of Infectious Diseases Fuels Adoption of Antimicrobial Coatings
  • Growing Aging Population Increases the Demand for Medical Device Coatings
  • Expanding Elderly Population Worldwide: Breakdown of Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
  • Life Expectancy at Birth for Select Countries in Number of Years
  • Increasing Prevalence of Chronic & Lifestyle Diseases to Propel Market Growth
  • Hypertension Prevalence (%) Worldwide by Region in Male and Females Aged 25+ Years
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • Coatings for Cardiovascular Devices Driven by Rising Incidence of Cardiovascular Diseases
  • Global Annual Medical Cost of CVD in US$ Billion: 2010, 2015, 2020, 2025 and 2030
  • Fatalities by Heart Conditions: Estimated Percentage Breakdown for Cardiovascular Disease, Ischemic Heart Disease, Stroke, and Others
  • Rising Focus on Minimally-Invasive Surgeries to Buoy Demand
  • Coatings on Drug-Eluting Stents (DES) to Witness Significant Growth
  • Growing Usage of Hydrophilic Surface Coatings Spurs Demand
  • Hydromer® Hydrophilic Coatings - Healthcare and Medical Applications
  • Uptake of Sophisticated Medical Devices to Present New Opportunities
  • Research into Novel Coatings Gains Ground
  • Nanocoatings Poised to Make Rapid Gains
  • Antimicrobial Nanocoatings Emerge as an Alternative for Traditional Antimicrobial Coatings
  • Technological Advancements in Medical Coatings Market
  • New Substrates and Devices for the Medical Device Industry
  • Addressing Challenges with Coating Devices/Parts Manufactured using AM Methods
  • Different Techniques for Composite Metal Coatings of Medical Implants
  • Medical Device Industry Turns to Plasma-Applied Coatings
  • Advancements in Coatings and Cleaning to Drive Medical Device Innovation
  • Innovative Coating can Increase the Safety of Medical Devices
  • Innovation of Revolutionary Coating Technologies for Medical Devices for Preventing Pandemics in Future
  • Improving Healthcare Expenditure Bodes Well for Market Growth
  • World Healthcare Expenditure (In US$ Billion) for the Years 2017-2023
  • Per Capita Healthcare Spending (in US$) in Select Countries (2019)
  • Rapid Urbanization Drives Demand Prospects for Medical Device Coatings Market
  • World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050P
  • Increasing Middle Class Population Worldwide Spurs Market Growth
  • Global Middle Class Population (in Millions) and as a Percentage of Total Population: 2005, 2015, 2025 & 2035
  • Key Restraints & Challenges
  • High Upfront Cost & Escalating Prices of Raw Materials
  • Tortuous, Time-Intensive Regulatory Approval
4. GLOBAL MARKET PERSPECTIVE
  • TABLE 1: World Recent Past, Current & Future Analysis for Coatings for Medical Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 2: World Historic Review for Coatings for Medical Devices by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 3: World 16-Year Perspective for Coatings for Medical Devices by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • TABLE 4: World Recent Past, Current & Future Analysis for Anti-Microbial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 5: World Historic Review for Anti-Microbial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 6: World 16-Year Perspective for Anti-Microbial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 7: World Recent Past, Current & Future Analysis for Drug-Eluting by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 8: World Historic Review for Drug-Eluting by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 9: World 16-Year Perspective for Drug-Eluting by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 10: World Recent Past, Current & Future Analysis for Hydrophilic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 11: World Historic Review for Hydrophilic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 12: World 16-Year Perspective for Hydrophilic by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 13: World Recent Past, Current & Future Analysis for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 14: World Historic Review for Other Types by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 15: World 16-Year Perspective for Other Types by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 16: World Recent Past, Current & Future Analysis for Cardiovascular by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 17: World Historic Review for Cardiovascular by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 18: World 16-Year Perspective for Cardiovascular by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 19: World Recent Past, Current & Future Analysis for General Surgery by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 20: World Historic Review for General Surgery by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 21: World 16-Year Perspective for General Surgery by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 22: World Recent Past, Current & Future Analysis for Orthopedic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 23: World Historic Review for Orthopedic by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 24: World 16-Year Perspective for Orthopedic by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 25: World Recent Past, Current & Future Analysis for Neurology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 26: World Historic Review for Neurology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 27: World 16-Year Perspective for Neurology by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 28: World Recent Past, Current & Future Analysis for Dentistry by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 29: World Historic Review for Dentistry by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 30: World 16-Year Perspective for Dentistry by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 31: World Recent Past, Current & Future Analysis for Gynecology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 32: World Historic Review for Gynecology by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 33: World 16-Year Perspective for Gynecology by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 34: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • TABLE 35: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • TABLE 36: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • TABLE 37: World Coatings for Medical Devices Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
III. MARKET ANALYSIS
  • UNITED STATES
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • CANADA
  • JAPAN
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
  • CHINA
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • EUROPE
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • FRANCE
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
  • GERMANY
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
  • ITALY
  • UNITED KINGDOM
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
  • SPAIN
  • RUSSIA
  • REST OF EUROPE
  • ASIA-PACIFIC
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • AUSTRALIA
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
  • INDIA
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
  • SOUTH KOREA
  • REST OF ASIA-PACIFIC
  • LATIN AMERICA
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
  • ARGENTINA
  • BRAZIL
  • MEXICO
  • REST OF LATIN AMERICA
  • MIDDLE EAST
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
  • IRAN
  • ISRAEL
  • SAUDI ARABIA
  • UNITED ARAB EMIRATES
  • REST OF MIDDLE EAST
  • AFRICA
  • Coatings for Medical Devices Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Boston Scientific Corporation
  • AdvanSource Biomaterials Corporation
  • AST Products, Inc.
  • Biocoat, Inc.
  • BryCoat, Inc.
  • Cam Bioceramics BV
  • Boston Scott Corporation
  • Accentus Medical Ltd.
  • Allvivo Vascular, Inc.
  • Applied Plastics Co., Inc.
  • Bactiguard
  • Becton Dickinson
  • Carestream Contract Manufacturing
  • Biointeractions Ltd.
  • Biomerics, LLC