The global hydrophilic coating market size is projected to grow from USD 16.8 billion in 2022 to USD 22.5 billion by 2027, at a CAGR of 6.0%, between 2022 and 2027
Hydrophilic coatings provide several benefits that greatly improve the performance of products across a wide spectrum of industries. Matching the chemistry of hydrophilic coatings to a variety of substrate materials, difficult product geometries, and environments in which these coated products are used is a complex process that should be guided by those skilled in the development, manufacturing, and application of hydrophilic coatings.
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hydrophilic Coating Market by Substrate, End User And Region - Global Forecast to 2027" - https://www.reportlinker.com/p04067050/?utm_source=GNW
Organizations or companies seeking to improve their product performance and portfolio by incorporating the use of hydrophilic coatings should enlist the assistance of experts. The hydrophilic nature of the coating captures the water and evenly distributes it across the surface of the substrate. By evenly distributing the captured water molecules of the vapor, the fog effect is minimized and creates an optically clear surface for the individual looking through the coated lens. Anti-fog coatings are often used for sports eye protection, workers safety glasses, face shields, military goggles, automobile headlights, aviation windows, and many other applications.
*The polymers segment is one of the fastest-growing substrate type segment during the forecast period.*
For decades, friction-reducing coatings have been used to facilitate the insertion and placement of devices within the body.These coatings are often used on devices designed for use in arterial and venous systems.
Common products that use coatings to reduce friction include stents, catheters, bioabsorbable scaffolds, guidewires, and other products that are in contact with the bloodstream.This is because blood becomes notoriously tacky the longer a device is in the artery or the vein and can result in a device performing sub-optimally.
Today, there are a variety of surface modification options available to device engineers, from hydrophobic to hydrophilic coatings.This allows them to select the solution that best matches their specific design and performance requirements.
One of the original coatings used in the medical field is polytetrafluorethylene (PTFE). Widely used to coat guidewires, PTFE has the unique property of providing a low-friction surface in the dry state. Unlike hydrophilic polymers, PTFE does not need to be wet to provide lubricity. By contrast, polymers in hydrophilic coatings such as polyvinylpyrrolidone, which is contained in a hydrophilic coated solution, absorb aqueous liquids to make the surface slippery when wet. This feature makes hydrophilic coatings more lubricious than PTFE coatings.
Natural rubber, latex, and synthetic rubber materials provide great physical qualities for a variety of applications, including mechanical strength, low heat resistance, flexibility, and elasticity.Natural rubber is widely employed in many commercially accessible items because of these benefits.
Natural rubber is derived from the rubber tree Hevea brasiliensis and is chemically constituted of polymers containing isoprene repeating units (cis 1,4-polyisoprene).Natural rubber is hydrophobic due to its chemical makeup and the existence of unsaturated carbon-carbon double bonds, which can result in the irreversible adsorption of biological components onto its surface.
Because latex is incompatible with blood and can cause bacterial, fungal, or protein deposition on the surface, the use of natural rubber for in vivo applications and devices is limited.
*Medical devices segment in end user is expected to hold the one of the highest growth during the forecast period.*
The medtech business has seen substantial growth and development in recent years.Because of the aging population, the growing burden of chronic illnesses, and doctors’ and consumers’ increased faith in medical devices, pharmaceutical corporations and the medtech industry have formed stronger collaborations.
However, the medtech business is experiencing new hurdles, including an ever-changing regulatory environment, payment decreases, the high cost of modern medical technology, and safety concerns.Despite changing and increasingly complex reimbursement and regulatory processes, the global medtech market is expected to grow at a CAGR of 6% during the forecast period.
This increased growth is mainly driven by M&A, increase in R&D expenditure, development of AI-based technologies and rising demand for medtech products in emerging geographies such as Latin America, Asia Pacific, and Middle East and Africa, and pre-established markets such as North America and Europe.
The global medical device industry has witnessed a steady and robust growth fueled by a range of factors such as the rising prevalence of chronic diseases, increasing aging population, and unforeseen demand for digital and connected devices, especially since the pandemic. According to the World Health Organization, the worldwide medical device business was valued at USD 425.2 billion in 2018 and was predicted to increase at a CAGR of 5.4% to roughly USD 612.7 billion in 2025. The industry is predominantly controlled by industrialized countries. In 2017, the US and Europe accounted for 40% and 27% of the worldwide medical device business, respectively. For decades, manufacturers have focused on designing and producing technologies or medical equipment based on the demands of established markets before selling the same items in emerging areas with minor modifications. However, developing nation- or region-specific brand-new cost-effective items would be an efficient strategy for producers. For instance, GE Healthcare designed a compact and portable ultrasound machine for the Chinese market, costing merely USD 15,000 compared to over USD 100,000 for their high-end markets. The machine was an instant hit in China due to its affordability and portability; and it also created new sales opportunities for GE Healthcare in developed countries.
*Middle East & Africa hydrophilic coatings market is estimated to register one of the highest CAGR during the forecast period.*
The Middle East & Africa includes countries such as South Africa, UAE, Saudi Arabia, and the Rest of Middle East & Africa.Saudi Arabia is investing several billion dollars in upgrading infrastructure in oil & gas, power, and transportation.
The country is the largest importer of vehicles and auto parts in the Middle East.The Saudi Arabia market is experiencing a growing demand for smaller, low-priced cars resulting from a growing middle–class population.
The Saudi Government is attracting original equipment manufacturers (OEMs) to open facilities in the country and simultaneously developing a domestic automotive design and manufacturing capacity.Vehicle sales in the country are likely to increase, as the Ministry of Economy has initiated a policy of minimizing the price disparity between cars manufactured by local companies and those imported from other countries.
The increased sales will play a crucial role in driving the demand for hydrophilic coating in manufacturing various auto parts.
The healthcare sector remains a top priority for the Kingdom of Saudi Arabia (KSA) government.On the back of rapid technological advancements, research, and development, Saudi Arabia is keeping track of global and regional trends.
The country continues to allocate an annually increasing budget, a clear indication of the enormous opportunities for growth. One of the key factors for the growth of the Kingdom’s healthcare sector is the changing of the population’s age profile, which is expected to reach 39.5 million by 2030, an increase of 19.9% from 2017, according to the Euromonitor forecast. As 70% of the population is under the age of 40, it is predicted that the change in the population composition will drive future healthcare requirements and create demand for several specialisms, including pediatrics, lifestyle diseases, long-term care, rehabilitation, home care, and rejuvenation services. Oil revenues fund the free public healthcare system for Saudi citizens and public sector workers. Currently, these are under great pressure. The growing cost of medical technologies, demographic changes, the increasing prevalence of chronic diseases, and the growing demand for quality healthcare are all factors that put more pressure on the healthcare system in Saudi Arabia to adopt cost-containment measures. Saudi Arabia’s administration has taken steps to improve the healthcare sector and has devised a National Transformation Plan in cooperation with the Ministry of Health’s National Healthcare Project and National e-Health Strategy. According to the International Trade Administration, in 2022, the Saudi Arabian government spent USD 36.8 billion on healthcare and social development and targeted the healthcare sector for privatization. Such initiatives are expected to improve the hydrophilic coating market during the forecast period.
Information was gathered from secondary research and In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the hydrophilic coating market to verify the market size of several segments and subsegments.
• By Company Type: Tier 1 – 46%, Tier 2 – 43%, and Tier 3 – 27%
• By Designation: C Level – 21%, D Level – 23%, and Others – 56%
• By Region: North America – 37%, Asia Pacific– 26%, Europe – 23%, Middle East & Africa – 10%, and South America – 4%
The key companies profiled in this report are Hydromer, Inc (US), Harland Medical Systems, Inc (US), Surmodics, Inc (US), Koninklijke DSM NV (Netherlands), Biocoat, Inc (US), Aculon, Inc (US), AST Products, Inc (US), AdvanSource Biomaterials Corporation (US), Surface Solutions Group, LLC (US), Teleflex, Inc (US), and others.
*Research Coverage:*
• This report provides detailed segmentation of the hydrophilic coating market based on substrate, end user, and region. Substrate is divided into polymers, glass/ceramics, metals, nanoparticles, and others. Based on end user, the market has been segmented into medical devices, optics, automotive, aerospace, marine, and others. Based on the region, the market has been segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
*Key Benefits of Buying the Report*
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market ranking of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
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