Medical devices are required for various invasive and minimally invasive surgical and diagnostic procedures such as laparoscopy, biopsy, and endoscopy. Laparoscopic ureterolithotomy, a process of removing stones from the ureter, is performed using a laparoscope and catheters. The use of coated medical devices significantly reduces the time taken for cardiac and urinary catheterization. Coatings prevent infections during biopsy, excision, and cryotherapic diagnostic procedures where contact between medical devices and the body is integral. Besides, coated medical devices are significantly cost-effective. According to the WHO, an estimated 2 million types of medical devices are categorized into more than 7,000 generic groups. Disposable medical devices, such as cannulas, blades, anvils, triggers, diagnostic probes, and guide wires, need coatings for anti-infectious procedures and maneuverability improvement. The diagnosis and treatment of abdominal pain, kidney stones, varicose veins, and intestinal infections are increasing, demanding coated medical devices. As per the American Cancer Society, the number of carcinogenic cases is going to hit 27.5 million by 2040, leaping from the previous figure of 17.0 million in 2018. Such rising cases of diseases demanding medical devices for surgical procedures are propelling the growth of the Europe medical device coating market.
Europe Medical Device Coating Market Overview
The Europe medical device coating market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Europe occupies the second position in the global medical device coating market. It is anticipated to register a significant growth rate over the forecast period. This is mainly due to the rising incidence of chronic infectious diseases acting as a standalone factor responsible for growth. Also, top players such as PPG Industries, Nippon Paint Company, Akzonobel, Dow Chemical Company, Sherwin Williams, Axalta Coating Systems, and BASF SE have manufacturing bases in Europe, which is driving the overall market in Europe. According to the Germany Trade & Invest (GTAI) report, the German medical technology industry comprises majorly small and medium-sized enterprises with highly innovative products, generating a significant share from exports. In 2018, ~1,300 medical device manufacturers generated more than US$ 29.75 billion from sales. Further, there has been enormous growth in the application of coatings in medical devices in the past few years. Medical device coating product innovations in Germany involve coating from hydroxyapatite in enhancing cell attachment intended for orthopedic implants to antimicrobial silver coatings for catheters, drug-eluting coatings on stents and blood-compatible coatings are a few such examples. Also, various competitors in Germany are manufacturing medical device coating products to be used during surgeries. For instance, Germany-based Tixx Coatings Ltd. specializes in "Parylene Coatings" for medical devices.
The Europe medical device coating market is segmented into material type, devices, coating, application, and country. Based on material type, the market is segmented into polymers, metals, and others. The metals segment registered the largest market share in 2022.
Covalon Technologies Ltd, Harland Medical Systems Inc, Hydromer Inc, Kisco Ltd, Koninklijke DSM NV, and Surmodics Inc are among the leading companies operating in the Europe medical device coating market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 2,281.44 Million |
| Market Size by 2028 | US$ 3,509.69 Million |
| CAGR (2022 - 2028) | 7.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Device Material Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Medical Device Coating Market is valued at US$ 2,281.44 Million in 2022, it is projected to reach US$ 3,509.69 Million by 2028.
As per our report Europe Medical Device Coating Market, the market size is valued at US$ 2,281.44 Million in 2022, projecting it to reach US$ 3,509.69 Million by 2028. This translates to a CAGR of approximately 7.4% during the forecast period.
The Europe Medical Device Coating Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Medical Device Coating Market report:
The Europe Medical Device Coating Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Medical Device Coating Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Medical Device Coating Market value chain can benefit from the information contained in a comprehensive market report.
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