The medical device coatings market is anticipated to grow at a steady CAGR of 7.7% till 2035, claims Roots Analysis

Published: February 2023

Driven by the growing demand of medical devices, coupled with unique coating needs for each type of medical device, an increasing number of developers are leveraging the technical expertise of coating providers in this industry

Roots Analysis has announced the addition of Medical Device Coatings and Surface Modification Technologies Market, 2023-2035” report to its list of offerings. 

The growing demand for complex medical devices has prompted developers to innovate and introduce biocompatible, high-performance medical device coatings that can meet the operational, clinical, and engineering requirements for these devices. Presently, multiple types of medical device coatings are available in the market to accommodate the multifunctionality of novel medical devices.

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Key Market Insights 

85+ companies across the globe currently claim to provide medical device coatings
The market is dominated by the presence of small (11-50 employees) and mid-sized (51-500 employees) players, that represent over 65% of the contemporary market landscape. Additionally, it is worth noting that majority (64%) of the players are based in North America.

Presently, more than 115 surface modification technologies / coating solutions are available in the market
Over 75% of the products apply hydrophilic coatings. Of these, over 95% of the products are being used to provide modification of invasive devices, such as catheters, implants, stents and surgical instruments. It is worth highlighting that ~55% of the products offer microbial resistance to the medical devices.

Partnership activity within this field has grown significantly between 2018 and 2022 
Maximum number of partnerships were inked in 2019. Majority (30%) of the instances captured in the report were mergers and acquisitions, followed by product development agreements and product commercialization agreements (16% each).

PESTEL framework assists coating providers in evaluating their current capabilities to operate within the industry
This framework takes into consideration the six parameters, political, economical, sociological, technological, legal, and environmental, that aid the organization to mitigate the upcoming risks. In addition, the analysis can be deployed to invent strategies that can influence financing decisions in order to increase profitability and identify the key areas of improvement for the firm.

North America and Europe are anticipated to capture the larger share (over 60%) of the market by 2035
Growth in this domain is anticipated to be primarily driven by the rising demand of medical devices. In fact, Class III type of medical devices are expected to occupy 63% of the market opportunity in 2035. Further, the total market share of polymer-based coatings is expected to grow significantly in the coming years. 

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Key Questions Answered 
  • How is the medical device coatings market anticipated to grow?
  • Which type of partnership models are commonly adopted by stakeholders in the medical device coatings and surface modification technologies domain?
  • What are the different types of coatings offered by big industry players involved in the medical device coatings market?
  • What are the different substrates onto which, these coatings can be applied?
  • Which region is likely to have the highest growth rate in medical device coatings market?
  • Which segment, in terms of type of medical device coated, accounts for the largest share in the medical device coatings market?    

The financial opportunity within the Medical Device Coating Services and Surface Modification Technologies Market has been analyzed across the following segments: 

  • Type of Device Class
    • Class I Medical Devices
    • Class II Medical Devices
    • Class III Medical Devices
  • Type of Coating Material
    • Metal Coatings
    • Polymer Coatings
    • Other Types of Coatings
  • Company Size
    • Very Small
    • Small
    • Mid-sized
    • Large 
    • Very Large
  • Geographical Regions 
    • North America
    • Europe
    • Asia
    • Rest of the World

The research also includes detailed profiles of key players (listed below) that offer coatings for medical devices; each profile features an overview of the company, its financial information (if available), details on product portfolio, recent developments and an informed future outlook. 

  • Advanced Coating
  • Biocoat
  • Evonik
  • Formacoat
  • Harland Medical Systems
  • Para-Coat Technologies
  • Specialty Coating Systems
  • SurModics
  • TUA Systems

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