Medical Coatings Market Segmentation:
Application Segment Analysis
Cardiovascular devices are predicted to capture the highest share of 35.6% in the market by the end of 2035. This dominance is consolidated by the high worldwide occurrence of CVD events requiring surgical intervention to prevent death. In this regard, the 2023 NLM study unveiled that over 18 million people lose their lives due to CVD every year worldwide, with approximately 1 million children born with congenital heart defects in LMICs each year. This epidemic is further adopting MIS procedures, which rely heavily on coated devices, including stents and catheters.
Type Segment Analysis
Hydrophilic coatings are estimated to become the dominant subtype in the medical coatings market by acquiring a share of 28.8% throughout the assessed timeline. The segment’s leadership in this sector is directly linked to its critical role in enhancing the performance of instruments used in cardiac surgeries. This portfolio features easier insertion, better maneuverability, and reduced vessel trauma that translates to shorter procedure times and improved patient safety. Evidencing the same, in October 2023, Surmodics introduced its most advanced hydrophilic medical device coating technology, Preside, which is highly suitable for a wide range of complex medical device application, including mechanical heart valves by enabling greater lubricity and durability.
End user Segment Analysis
Hospitals are poised to remain the leading end users in the market over the discussed timeframe. These facilities are globally established and preferred as the central hub for complex medical procedures, which redirects to the maximum use of coated devices. Besides, the large volumes of surgical intervention across a wide range of medical departments, including cardiovascular, orthopedic, and neurological, broaden the scope of greater utilization of medical coatings. Moreover, the comprehensive 24/7 emergency services, intensive care units, and large patient capacity in hospitals create sustained, high-volume demand for single-use and reusable coated devices.
Our in-depth analysis of the global market includes the following segments:
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