Medical Device Coatings Market growing at a CAGR of 6.8% | Strategic Analysis and Future Scenarios – 2027

According to a new report published by Allied Market Research, titled, “Medical Device Coatings (MDC) Market by Coating, Material, and Device Type: Global Opportunity Analysis and Industry Forecast, 2017-2023,” the global MDC market was valued at $11,032 million in 2016, and is projected to reach $17,400 million by 2023, growing at a CAGR of 6.8% from 2017 to 2023. The hydrophilic coating segment is anticipated to dominate the market during the forecast period.

Medical device coatings (MDCs) are materials that offer surgeons, physicians, and healthcare professionals improved maneuverability required during surgical intervention. In addition, they reduce the trauma subjected to blood vessels during surgery and decrease thrombogenicity in patients. Orthopedic implants coated with medical coating are an ideal surface structure for safe, fast, and durable bone integration.

 

The metals MDC materials segment occupied the highest share in MDC materials market in 2016, owing to their usage applicability and availability in medical & clinical settings. The hydrophobic coating segment witnessed the highest growth rate in 2016, and is anticipated to dominate the market during the forecast period.

 

1) The COVID-19 impact on the medical device coatings market is unpredictable and is expected to remain in force till the fourth quarter of 2021.

2) The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned import-export of nonessential items for most of 2021. This led to sudden fall in the availability of important raw materials.

3) Moreover, nationwide lockdowns forced manufacturing facilities to partially or completely shut their operations.

4) Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of reliable and innovative drone analytics systems globally.

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Key findings of the Medical device coatings market:

•The hydrophobic coating segment is anticipated to grow at the highest CAGR from 2017 to 2023.

•Utilization of medical device coatings is high for general surgical devices.

•North America dominated the global MDC market in 2016 and is projected to grow at a CAGR of 6.1%.

Asia-Pacific is expected to witness the highest growth rate during the forecast period.

List of Key Players Profiled in the Report:

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

 

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.