The Medical Coatings Global Market Report 2023 by The Business Research Company, provides medical coatings market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032
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According to The Business Research Company’s Medical Coatings Global Market Report 2023, the market size is expected to grow from $7.14 billion in 2022 to $8.57 billion in 2023 at a compound annual growth rate (CAGR) of 19.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The market size of global medical coatings is expected to grow to $18.05 billion in 2027 at a CAGR of 20.5%.
Rising occurrences of ischemic heart disease and chronic obstructive pulmonary disease are expected to propel the growth of the medical coatings market going forward. Ischemic heart disease refers to heart issues brought on by constricted heart arteries. Little blood and oxygen reach the heart muscle when arteries are narrow. Medical coatings are used to enhance various kinds of medical devices, such as general surgery devices and cardiovascular devices, to make them durable and prevent corrosion.
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The medical coatings market is segmented:
1) By Type: Anti-Microbial Coating, Hydrophilic Coating, Anti-Thrombogenic Coating, Other Types
2) By Material Type: Polymers, Metals, Other Material Types
3) By Application: Medical Devices, Medical Implants, Medical Equipment and Tools, Protective Clothing, Other Applications
Product innovations are a key trend gaining popularity in the medical coatings market. Major companies operating in the medical coatings market are focused on developing new product innovations to strengthen their position. For instance, in April 2022, Harland Medical Systems, Inc., a US-based provider of medical device coatings and equipment services to healthcare product manufacturers, launched the CTS1100 Coating Thickness Testing System. As a testing system, the CTS1100 will allow medical device manufacturers to accurately and easily measure the coating thickness on their devices. The CTS1100 can conduct an automated dry-out test, which makes laborious testing simple. The product has unique features such as a real-time precision micrometer that can continually measure a sample’s diameter and calculate the dry-out time by using the device’s critical dry-out diameter.
The medical coatings market report table of contents includes:
1. Executive Summary
2. Medical Coatings market Characteristics
3. Medical Coatings market Trends And Strategies
4. Medical Coatings market – Macro Economic Scenario
5. Medical Coatings market Size And Growth
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26. Africa Medical Coatings market
27. Medical Coatings market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Medical Coatings market
29. Medical Coatings market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Allvivo Vascular Inc
- AST Products Inc
- Biocoat Incorporated
- Coatings2Go LLC
- Covalon Technologies Ltd
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