Polymer Segment to Register Highest CAGR in Medical Device Coating Market During 2022-2028

According to our latest study on "Medical Device Coating Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Material Type, Devices, Coatings, and Application," the market is projected to reach US$ 12,818.01 million by 2028 from US$ 7,644.09 million in 2021; it is expected to grow at a CAGR of 7.7% from 2022 to 2028. The report highlights the key factors driving the market growth and prominent players with their developments in the market.

The COVID-19 pandemic bolstered the medical device coating market. Additionally, medical devices coated with biomaterials show promising results in invasive surgical catheters, driving the need for antiviral coatings. The main aim of biomaterials was to offer durability alongside cost-effective solutions for healthcare and practitioners. Therefore, the procurement of coated medical devices was high amid the pandemic. Also, the medical device coating market is expected to grow during the forecast period.

Based on material type, the medical device coating market is segmented into polymer, metal, and others. In 2021, the metal segment held the largest market share. However, the polymer segment is anticipated to register the highest CAGR during the forecast period. Based on devices, the market is segmented into medical equipment and tools, medical devices, medical implant, and others. In 2021, the medical devices segment accounted for the largest market share. However, the medical equipment and tools segment is expected to register the highest CAGR from 2022 to 2028. Based on coatings, the medical device coating market is segmented into hydrophilic coating, anti-microbial coating, drug-eluting coating, anti-thrombogenic coating, and others. The hydrophilic coating segment held the largest market share in 2021 and is expected to register the highest CAGR from 2022 to 2028. Based on application, the medical device coating market is segmented into infection diseases, general surgery, orthopedic, neurology, and others. In 2021, the others segment held the largest market share. Also, the same segment is expected to register the highest CAGR from 2022 to 2028.

Urinary tract infections, central line-associated bloodstream infections, and ventilator-associated pneumonia are among the healthcare-associated infections that may occur at surgery sites. According to a report titled "2020 National and State Healthcare-Associated Infections Progress Report" published by the Centers for Disease Control and Prevention (CDC) in 2021, about 24%, 35%, and 15% increase were recorded in central line-associated bloodstream infections, ventilator-associated events, and methicillin-resistant Staphylococcus aureus (MRSA) bacteremia, respectively, in the US between 2019 and 2020. As per January 2022 report published by National Healthcare Safety Network (NHSN), urinary tract infections (UTIs) are the fifth most common type of healthcare-associated infection, accounting for more than 9.5% of conditions reported by acute care hospitals. Thus, the high prevalence of healthcare-associated infections (HAI) will increase adoption of various medical device coatings which will also propel the growth of the medical device coating market.

Koninklijke DSM NV, Hydromer Inc, Surmodics Inc, Biocoat Inc, AST Products Inc, Covalon Technologies Ltd, Harland Medical Systems Inc, Precision Coating Company Inc, Kisco Ltd, and Formacoat LLC are among the leading companies operating in the medical device coating market.

In terms of geography, the medical device coating market has been segmented as follows:

Based on geography, the medical device coating market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The market in North America is further segmented into the US, Canada, and Mexico. The European market is subsegmented into France, Germany, the UK, Spain, Italy, and the Rest of Europe. The medical device coating market in APAC is segmented into Japan, China, India, Australia, South Korea, and the Rest of APAC. The market in the MEA is further segmented into Saudi Arabia, the UAE, South Africa, and the Rest of the MEA. The market in South & Central America is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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