PUBLISHER: The Business Research Company | PRODUCT CODE: 1539733
PUBLISHER: The Business Research Company | PRODUCT CODE: 1539733
Medical injection molding is a manufacturing method employed to fabricate precise, high-quality plastic components for medical devices and equipment by injecting molten plastic into a mold. This process is crucial for producing a range of medical products, including syringes, surgical instruments, and implantable devices, ensuring consistency and sterility during mass production.
The primary outputs of medical injection molding encompass components for medical equipment, consumables, patient aids, orthopedic instruments, and dental products. Medical equipment components are specialized parts used in medical devices such as diagnostic equipment, imaging machines, and surgical tools. These components are made from various materials such as plastic, metal, ceramic, and others, categorized into different device classes (class I, II, and III). Applications span medical devices, diagnostic instruments, surgical tools, and pharmaceutical delivery systems, serving hospitals, clinics, diagnostic centers, and pharmaceutical firms.
The medical injection molding market research report is one of a series of new reports from The Business Research Company that provides medical injection molding market statistics, including medical injection molding industry global market size, regional shares, competitors with a medical injection molding market share, detailed medical injection molding market segments, market trends and opportunities, and any further data you may need to thrive in the medical injection molding industry. This medical injection molding market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The medical injection molding market size has grown strongly in recent years. It will grow from $23.62 billion in 2023 to $25.48 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The increase during the historical period can be credited to the expansion of telemedicine and remote patient monitoring, heightened focus on infection control measures, growth within the global healthcare sector, increased healthcare expenditures, and greater adoption of disposable medical devices.
The medical injection molding market size is expected to see strong growth in the next few years. It will grow to $34.63 billion in 2028 at a compound annual growth rate (CAGR) of 8%. Anticipated growth in the forecast period is driven by rising demand for home healthcare devices, heightened emphasis on patient safety, the growing trend of personalized medicine, increasing demand for minimally invasive surgical procedures, and the rising prevalence of chronic diseases. Key trends expected in the forecast period include a shift towards sustainable and biodegradable materials, growth in wearable medical devices, increased use of automation in manufacturing processes, advancements in micro and nano molding techniques, and integration of IoT (Internet of Things) technology into medical devices.
The increasing demand for medical equipment is expected to drive growth in the medical injection molding market. Medical equipment includes devices, instruments, machines, or implants used in healthcare for diagnosing, treating, monitoring, or preventing medical conditions. The rise in chronic diseases, the expansion of healthcare infrastructure, and the need for medical device updates contribute to this demand. Medical injection molding is crucial for efficiently producing complex components that meet stringent medical standards across various healthcare applications. In January 2024, the International Trade Administration reported that Australia's local production of medical devices grew from $1,856 million in 2021 to $2,049 million in 2022, with US imports increasing from $1,455 million to $1,551 million from 2020 to 2022. This underscores the growing demand driving the medical injection molding market.
Leading companies in this market are focusing on electric injection molding machines tailored for cleanroom environments. These machines ensure the precise, contamination-free production of medical components meeting high-quality and hygiene standards. For instance, in March 2024, Shibaura Machine Company introduced the EC110SXIII machine, featuring an all-electric design with plated platens, stainless steel guarding, and NFS H1-certified lubrication grease. Such advancements enhance cleanliness, precision, efficiency, durability, and versatility, catering to the stringent requirements of medical injection molding.
In August 2023, DuPont acquired Spectrum Plastics Group for $1.75 billion, bolstering its global presence and product portfolio in the medical device industry. This acquisition strengthens DuPont's capabilities in medical injection molding, positioning the company for enhanced competitiveness and growth in this specialized market segment. Spectrum Plastics Group, based in Georgia, specializes in precision injection molding of advanced thermoplastics.
Major companies operating in the medical injection molding market are Jabil Inc., Flex Ltd., Phillips-Medisize (Molex LLC), Gerresheimer AG, Viant Medical Inc., Dynacast International Inc., ENGEL Austria GmbH, Milacron, Nolato AB, Westfall Technik Inc., Biomerics, GW Plastics, Mack Group, Proto Labs, Indo-MIM, Cadence Inc., Baytech Plastics Inc., Majors Plastics Inc., Metro Mold & Design, C&J Industries, HTI Plastics, JunoPacific, Currier Plastics Inc., Harbec, The Rodon Group, All-Plastics, Bright Plastics, H&K Muller GmbH & Co. KG, D&M Plastics LLC, Donatelle Plastics, JG Plastics Group LLC
Asia-Pacific was the largest region in the medical injection molding market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the medical injection molding market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the medical injection molding market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The medical injection molding market consists of sales of custom implants, laboratory equipment housings, catheters, medical tubing, ophthalmic devices, and enclosures for electronic health monitoring devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Medical Injection Molding Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on medical injection molding market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for medical injection molding ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The medical injection molding market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.