The global MDC market accounted for $11,032 million in 2016, and is estimated to reach at $17,400 million by 2023, registering a CAGR of 6.8% from 2017 to 2023.
Medical device coatings (MDC) are materials that provide greater flexibility or adjustability to the physicians and reduce the thrombogenicity in patients. These materials enable reduced injury to the blood vessels and help to lower the friction between medical devices and tissue. These materials provide wetting, uniform adhesion, wear resistance, and coating homogeneity. The global medical device coatings market is anticipated to grow during the forecast period, owing to rise in preference for implantable & non-implantable medical equipment, growth in the number of private & public hospitals, and increase in demand for coatings due to their improved biocompatibility between live tissue and medical devices.
The global medical device coatings market is driven by rise in prevalence of diseases; increase in demand for hydrophilic lubricious coatings; and the use of cardiovascular and urology catheters, and short term implanted devices. However, time-consuming approval process and volatile raw material prices impede the market growth. The increase in awareness about novel surgeries, geriatric population, and demand for better healthcare facilities provide opportunities for the market growth during the forecast period.
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The global medical device coatings market is segmented on the basis of coating, material, device type, and geography. Based on coating, it is bifurcated into hydrophilic and hydrophobic coating. Based on material, it is divided into metals, ceramics, and polymers. The metal segment is further categorized into silver, titanium, and others. The polymers segment is divided into silicones, parylene, and fluoropolymers. Fluropolymers are further classified into polytetrafluroethylene (PTFE), polyvinylidene difluoride (PVDF), and others. Geographically, this market is analyzed across North America, Europe, Asia Pacific, and LAMEA. These regions are further analyzed across the globe at country level to determine the market size and forecast for each segment and sub segment of the market.
The key players profiled in this market are Surmodics, Inc., Covalon Technologies Ltd., Royal DSM, Hydromer. Inc., Precision Coatings Co. Inc., AST Products Inc., Abbott Laboratories, Biocoat Inc., Covalon Technologies Ltd., and Harland Medical Systems Inc.
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