Global PVD Coatings for Medical Application Market Size By Application(Orthopedic And Dental Applications, Cardiovascular Applications ), By Category(Implantable, Surgical Instruments), By Geographic Scope And Forecast

PVD Coatings for Medical Application Market Size And Forecast

PVD Coatings for Medical Application Market size was valued at USD 217.40 Million in 2022 and is projected to reach USD 363.94 Million by 2030, at a CAGR of 6.71% from 2023 to 2030.

Microelectronics is the creation of small electronic devices with micrometer dimensions that are employed in the automotive, defense, and healthcare industries. One of the most important applications for physical vapour deposition is microelectronics (PVD). As a result, the rise of the microelectronics industry is fueling the growth of the physical vapour deposition market. The Global PVD Coatings for Medical Application Market report provides a holistic evaluation of the market. The report provides a comprehensive analysis of key segments, drivers, restraints, trends, competitive landscape, and factors that are playing a crucial role in the market.

Global PVD Coatings for Medical Application Market Definition

PVD stands for Physical Vapour Deposition. PVD Coating is defined as a variety of thin film deposition method where a solid material is vaporized in a vacuum environment and deposited on substrates as an alloy composition or pure material coating. As the technique transfers the coating material as a single atom or on the molecular level, it can offer high performance and extremely pure coatings which for many applications can be better to other methods used. These coatings can decrease friction and offer a barrier against damage.

Ever since PVD was presented to the medical device industry in the late 1980s, it has become broadly used to deposit wear-resistant thin-film coatings on several medical devices, including orthopaedic implants, surgical instruments, pacemakers, dental instruments and orthodontic appliances. The value of PVD technology is due to its ability to modify the surface properties of a device without altering the biomechanical functionality and underlying material properties. Also, PVD coatings offer a number of benefits to medical devices in addition to adhesion and hardness. The biocompatibility of a coating is an essential factor to its use on medical devices.

Global PVD Coatings for Medical Application Market Overview

The medical device industry is growing at a higher rate in emerging markets, owing to rising income levels, an older population, and more health awareness. Physical vapour deposition coatings are widely used to deposit wear-resistant thin-film coatings in a variety of medical equipment, including orthopaedic implants, pacemakers, surgical tools, orthodontic appliances, and dentistry instruments. The increasing penetration of microelectronics across numerous sectors is essentially driving physical vapour deposition market development. Microelectronics is the creation of small electronic devices with micrometer dimensions that are employed in the automotive, defense, and healthcare industries. One of the most important applications for physical vapour deposition is microelectronics (PVD). As a result, the rise of the microelectronics industry is fueling the growth of the physical vapour deposition market.

The increasing preference for chemical vapour deposition techniques due to reduced waste deposition and transition sharpness is projected to hamper the growth of the PVD coatings market. One of the most significant advantages of CVD is its ability to uniformly coat uneven surfaces such as screw threads and recesses. The technique is also exceedingly adaptable, having been employed with a broad variety of elements and compounds. CVD also creates thin films with extremely high purity and density. PVD technology is preferred over other coating methods, fueling the growth of the physical vapour deposition industry. PVD procedures have outpaced CVD technologies in terms of market growth in recent years. This is due to the advantages they have over other surface engineering technologiesthe high vacuum used allows for coating properties that are not possible with gases and baths at atmospheric pressure (thermal spraying, nitriding, electro or chemical deposition); the resulting coatings have high hardness, good adhesion, and wear resistance, and these properties can be tailored for each specific application.

Global PVD Coatings for Medical Application MarketSegmentation Analysis

The Global PVD Coatings for Medical Application Market is segmented on the basis of Application, Category and Geography.

PVD Coatings for Medical Application Market by Application

• Orthopedic And Dental Applications
• Cardiovascular Applications
• Others

Based on Application, orthopedic and dental applications accounted for the largest market share in 2021, and is projected to grow at a CAGR of 6.60% during the forecast period. PVD films are essential parts of the medical field, with a wide range of applications. Titanium nitride, a popular PVD coating, is a standard coating on prosthetics, whose metals the host body frequently rejects due to interaction with biological liquids. It’s also useful as a scalpel surface coating because it keeps blades sharper for longer. Because PVD is non-toxic, it is used to treat medical instruments such as scalpels and saw blades for orthopedic use, where honing and lifetime are important, as well as implants and treatment of materials for bone prostheses, particularly hips.

PVD Coatings for Medical Application Market by Category

• Implantable
• Surgical Instruments

On the basis of Category, Implantable accounted for the largest market share in 2021, and is projected to grow at the highest CAGR of 7.05% during the forecast period. Implantable medical devices are those that are surgically inserted into the human body or natural cavity or replace the upper epidermis or eye surface in whole or in part, remain in the body for at least 30 days, and can only be removed surgically or through internal medical means. It includes implant devices like bone nails and bone plates, implant artificial organs like artificial joints and hearts, contact artificial organs like artificial skin, and components like spine discs, pedicle screws, and spine guide rods that can significantly improve the wear resistance of titanium alloys.

PVD Coatings for Medical Application Market by Geography

• North America
• Europe
• Asia Pacific and Latin America
• Middle East and Africa

On the basis of regional analysis, the Global PVD Coatings for Medical Application Market is classified into North America, Europe, Asia Pacific and Latin America, Middle East and Africa. North America accounted for the largest market share in 2021, and is projected to grow at a CAGR of 6.06% during the forecast period. North America is one of the largest consumers of these technologies, materials, and services globally. The United States is a leading contributor to the market growth due to technological advancement and well-established supply chains. Physical vapour deposition is significantly used in medical equipment, cutting tools, and solar products, further accelerating the market’s growth. Moreover, the presence of giant medical equipment manufacturers & microelectronics in the U.S. led to strong demand & steady growth of services. The innovative coatings products have benefited the end-use industries in achieving sustainable goals along with significant cost savings. Asia Pacific was the second-largest market in 2021, and it is projected to grow at the highest CAGR. Asia Pacific is projected to showcase exponential growth during the forecast period on account of the fastest growth of PVD coatings in medical devices. The region is dominant, with many players possessing a major market share, and few new players are expected to enter the market.

Key Players

The “Global PVD Coatings for Medical Application Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Oerlikon Balzers, Richter Precision, Inc., DOT GmbH.

The competitive landscape section also includes the above-mentioned players’ key development strategies, market share, and market ranking analysis.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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