Carmeda AB

DUBLIN--( BUSINESS WIRE )--The "Medical Device Coatings and Surface Modification Technologies Market: Distribution by Type of Medical Device, Type of Coating Material, Company Size, and Key Geographies - Industry Trends and Global Forecasts, 2023-2035" report has been added to ResearchAndMarkets.com's offering. This report features an extensive study of the current market landscape and future potential of medical device coatings and surface modification technologies, over the next 12 years. According to the World Health Organization (WHO), presently, around two million medical devices are available across the globe. It is also worth highlighting that, since 2020, the Food and Drug Administration (FDA) has approved 125 new medical devices. The growing demand for complex medical devices, including implants, surgical equipment, catheters, and other invasive devices, has prompted the medical device 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. In addition, various medical device manufacturers are using novel surface modification technologies to enhance the physiochemical properties, frictional resistance, and, in certain cases, layout of the substrate, adding on to the device properties. Driven by the surge in demand for various types of medical devices and the need for a wide array of coatings for these devices, the medical device coatings market is anticipated to witness a steady growth in the coming decade. Need for Medical Device Coating Providers The coating of medical devices is a complex process that requires an adequate working environment (to prevent uneven coatings and chances of flaking), stringent coating protocols (to comply with the established regulatory standards), trained workforce (to satisfactorily handle the coating equipment) and expensive infrastructure. Driven by the growing demand for medical devices and unique coating requirements for each type of medical device, an increasing number of developers are leveraging the superior technical expertise and experience of coating providers. Current Market Landscape of Medical Device Coating Providers Presently, more than 85 medical device coating providers claim to offer various types of medical grade coatings, including parylene, silicone, and fluoropolymers for multiple applications. It is worth highlighting that, majority of these players offer novel coatings as well as services associated with medical device coatings. Most of these players are mid-sized companies based in the US, the UK, and Germany. Additionally, more than 115 surface modification technologies and coating solutions are available in the market to enhance the physiochemical features of medical devices, including antimicrobial properties, corrosion resistance and thermal stability. Recent Developments Associated with Medical Device Coatings and Surface Modification Technologies In the recent years, the medical device coatings domain has witnessed various innovations, in terms of coating techniques as well as coating materials. In fact, novel coating techniques, including low-temperature atmospheric plasmas, physical vapor deposition, thermal curing and microblasting, offer several advantages over conventional methods. Some of these advantages include uniform application of thick coatings, improved adherence of the coating material onto the substrate, and a higher rate of efficiency. Additionally, stakeholders in this domain have forged several strategic alliances in order to enhance their existing product portfolios and consolidate their presence within the domain. It is worth highlighting that most of these agreements are mergers and acquisitions of other key players in the industry. Market Size of Medical Device Coating Services Market Owing to the surge in the number of medical devices and their associated risks of infections, the global medical device coatings market is projected to grow at a steady pace in the coming years. Currently, in terms of type of medical device coated, class I devices capture majority share of the overall medical device coatings market. Specifically, in terms of geography, the market in Asia is likely to grow at a relatively faster pace in the long term. Who are the Key Players Engaged in Medical Device Coating Market Examples of key players engaged in this domain (which have also been captured in this report) include Aculon, Biocoat, Carmeda, Covalon Technologies, DSM, Evonik Health Care, Freudenberg, HZO, Microban International, and N2 Biomedical. For more information about this report visit https://www.researchandmarkets.com/r/aae3qb