The medical coatings market was estimated around $9.1 billion in 2013, with the high share of around 70% held by North America and Europe together. The global medical coatings market by value is projected to grow at a CAGR of 6.5% from 2014 to 2019. The high growth is forecasted to be in the Asia-Pacific due to rise of medical device manufacturing in the region. Europe is estimated to have the second highest growth around 6.37% from 2014 to 2019.
Advancements in medical device designing have led to improvement of existing medical devices as well as introduction of new technologies. These devices are made of metals such as stainless steel, aluminum or ceramic such as bioglass or alumina. Not all these materials are compatible when in contact with tissues and body fluids and can cause complications, for instance, infection and blood clots. Coatings help to remove these difficulties. Some coatings help to make the device biocompatible while others help to prevent microbial infections. It may also be hydrophilic or hydrophobic according to the requirement. Coatings also help to reduce static and kinetic friction between two different surfaces. Based on properties, medical coatings can be broadly classified into hydrophilic and hydrophobic coatings. However, there are other types of coatings such as antimicrobial, protective, optical, lubricious, pharmacological and so. The most commonly used chemistries in coatings are parylene, silicones, and fluoropolymers.
Coatings are widely used on surgical and institutional equipments, medical devices such as cardiovascular, optical, orthopaedic, endoscopic, radiology devices, implants, and even on drug delivery systems.
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Coatings are used in a wide variety of medical devices and equipment. Surgical as well as institutional equipments use coatings. Orthopaedic devices, cardiovascular devices, optical devices, endoscopic devices, radiology devices as well as implants use different types of coatings. It can also find use in advanced applications, such as drug delivery and biological interactions. Coatings used for each application needs to be compatible with the substrate on which it is applied and should withstand the sterilization, cleaning, storage and other conditions in which the device might be used. Hence, before establishing a relationship with the coating manufacturer, especially in case of hydrophilic coatings, the client needs to work with the vendor to determine if the coating is appropriate for the specific device.
The medical coatings market is anticipated to show a high growth rate in the coming years. The market is innovation driven and investments are expected for new technology and product development. Besides large medical coating manufacturers, there are many medium and small sized manufacturers who focus significantly on research and development.
Currently, the medical coatings market is mainly concentrated in the North America while Asia-Pacific is expected to show high growth rate in future years. Advancement in medical device market along with growth of the medical care industry, especially in the developing regions, is driving the growth of the global medical coatings market.
DSM Biomedical (The Netherlands) and Hydromer Inc. (U.S.) are the important active players in the medical coatings market. These companies showed the highest strategy adoptions amongst other players in the medical coatings market from 2010 to 2014.
From 2010 to 2014, partnership, agreement, and collaboration was observed as the most important growth strategy adopted by the major medical coatings, accounting for a share of 64% of the total strategies adopted by the players. The other companies SurModics (U.S.), Covalon Technologies (U.S.), and Specialty Coatings Systems (U.S.) also contributed to the market activities in the global medical coatings market during the above mentioned period.
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