Catheters are medical equipment that consists of thin tubes. These are utilized for therapeutic and diagnostic procedures in different medical purposes like cardiac electrophysiology, angioplasty, and neurosurgery. The catheter coating plays an important role in catheterization. It helps in reducing friction and lowering incidences of urinary tract infections and also preventing the formation of biofilm.
One of the major factors driving the growth of the global catheter coatings market is the growing prevalence of catheter-associated urinary tract infections all across the globe. Moreover, there is a significant spike in the demand for coating materials like lubricious, hydrophilic, and antimicrobial coatings along with the demand for neurology and cardiovascular catheters. Catheters are widely utilized in several medical practices and thus there is high demand for specialized and innovative coatings. Hence, such requirements will expand the array of catheter coatings in the forthcoming years. People are becoming aware of the novel surgeries and the associated benefits, which in turn is also creating many lucrative growth opportunities in the market globally. There is an exponential surge in the geriatric population in several regions of the world. Correspondingly, a large number of patients are demanding high-end healthcare facilities for the advanced treatment of severe diseases. Hence, all these factors will vigorously bolster the growth of the global catheter coatings market during the forecast period.
The global catheter coatings market can be segmented into type, material, and region.
By type, the market can be segmented into antimicrobial, drug-eluting, hydrophilic, and other coatings.
By material, the market can be segmented into polymer and metal.
The polymer coating segment accounts for the largest share in the global market due to their high biocompatibility and mobility owing to the reduced friction within the body tissues. However, the metal coating segment is expected to grow exponentially during the forecast period as it is known to be multifunctional because of its antibacterial properties that prevent further microbial growth even on the coating surfaces.
Asia Pacific accounts for the largest share in the global catheter coatings market due to the growing lucrative growth opportunities in the region owing to the presence of prominent market players along with a huge consumer base. Moreover, the growing investments by key players to boost the research and development activities are further likely to propel the growth of the regional market during the forecast period.
North America is expected to grow vigorously during the forecast period due to the ongoing technological advancements in the region. However, the growing applications of catheters in various medical procedures will further escalate the growth of the regional market during the forecast period.
Some of the significant players in the global catheter coatings market are Polyone Corporation, LipoCoat BV, Biocoat Incorporated, Specialty Coating Systems Inc., Royal DSM., and B. Braun Melsungen AG. To cite, in May 2021, Hydromer, Inc. has partnered with Avinger, Inc. as a key coatings and service provider. They partnered for providing catheter-based system for treatment and diagnosis of patients suffering from peripheral Artery Disease (PAD).