Overview and Scope
Medical injection molding is a manufacturing process used to produce precise, high-quality plastic components for medical devices and equipment by injecting molten plastic into a mold. It is utilized to create various medical products, such as syringes, surgical instruments, and implantable devices, ensuring consistency and sterility in mass production.
Sizing and Forecast
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 growth in the historic period can be attributed to a rise in telemedicine and remote patient monitoring, increased focus on infection control, growth of the global healthcare sector, increased healthcare spending, and a rise in 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%. The growth in the forecast period can be attributed to growing demand for home healthcare devices, growing emphasis on patient safety, rising trend of personalized medicine, increasing demand for minimally invasive surgeries, and rising prevalence of chronic diseases. Major trends in the forecast period include a shift towards sustainable and biodegradable materials, growth in wearable medical devices, increased adoption of automation in manufacturing, development of micro and nano molding techniques, and integration of IoT in medical devices.
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Segmentation & Regional Insights
The medical injection molding market covered in this report is segmented –
1) By Product: Medical Equipment Components, Consumables, Patient Aids, Orthopedics Instruments, Dental Products
2) By Material: Plastic, Metal, Ceramic, Other Materials
3) By Classes: Class I, Class II, Class III
4) By Application: Medical Devices, Diagnostic Instruments, Surgical Instruments, Pharmaceutical Delivery
5) By End-User: Hospitals, Clinics, Diagnostic Centers, Pharmaceutical Companies
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.
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Major Driver Impacting Market Growth
The rising demand for medical equipment is expected to propel the medical injection molding market going forward. Medical equipment refers to devices, instruments, machines, or implants used in healthcare to diagnose, treat, monitor, or prevent medical conditions. The medical equipment gained traction due to the increasing prevalence of chronic diseases, the expansion of healthcare infrastructure, and the need for medical device infrastructure updates. Medical injection molding facilitates the efficient and precise production of complex medical device components for various applications within the healthcare industry. This manufacturing process is essential for producing high-quality, reliable parts that meet stringent medical standards. For instance, in January 2024, according to the International Trade Administration, a US-based government agency, the total size of local production of medical devices in Australia was $1,856 million in 2021, which increased to $2,049 million in 2022. Additionally, imports from the US increased from $1,455 million to $1,551 million from 2020 to 2022. Therefore, the rising demand for medical equipment is driving the medical injection molding market.
Key Industry Players
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 Müller GmbH & Co. KG, D&M Plastics LLC, Donatelle Plastics, JG Plastics Group LLC
The medical injection molding market report table of contents includes:
- Executive Summary
- Medical Injection Molding Market Characteristics
- Medical Injection Molding Market Trends And Strategies
- Medical Injection Molding Market – Macro Economic Scenario
- Global Medical Injection Molding Market Size and Growth
…………
- Global Medical Injection Molding Market Competitive Dashboard
- Key Mergers And Acquisitions In The Medical Injection Molding Market
- Medical Injection Molding Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Medical Injection Molding Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Medical Injection Molding Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Medical Injection Molding Market, Segmentation By Classes, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………….
Table 76: Jabil Inc. Financial Performance
Table 77: Flex Ltd. Financial Performance
Table 78: Phillips-Medisize (Molex LLC) Financial Performance
Table 79: Gerresheimer AG Financial Performance
Table 80: Viant Medical Inc. Financial Performance
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