Medical Injection Molding Industry Overview
The global medical injection molding market size was estimated at USD 20.30 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.7% from 2022 to 2030.
This growth is poised to be driven by the demand for mass production of identical medical components with design flexibility and precision at lower costs. The number of hospital visits and hospitalizations has increased manifold since the advent of the COVID-19 pandemic.
Gather more insights about the market drivers, restrains and growth of the Global Medical Injection Molding Market
This has augmented the demand for various devices in emergency room products, MRI equipment, drug delivery systems, and surgical devices, among other devices used in hospitals. The market in the U.S. has undergone a transformation as a result of the COVID-19 pandemic, with players acquiring and expanding their capacity to satisfy the market's growing demands.
The regional industry is predicted to witness growth in the coming years, owing to various factors such as the increasing number of manufacturers adopting medical injection molding technology, the rising demand for medical equipment, and the rising healthcare expenditure in the country.
Medical-grade products, components, equipment, and tools require a production process that meets medical hygiene standards. Injection molding is a viable approach for producing complex medical products, components, equipment, and tools. Medical-grade injection-molded products are in high demand globally because they are long-lasting and are inherently resistant to pollutants and chemicals. These factors are expected to boost the industry demand.
Medical injection molding (MIM) can be utilized to develop complicated and basic medical devices. In general, it is best suited for pieces that have thickness and weight less than 6 mm thick and 100 g, respectively. However, the advent of new binder removal procedures has enabled the processing of cross-sections of parts of medical devices that are larger than 12.5 mm and weigh up to 400 g.
In-house injection molding of injection molded components by OEMs can be a considerable issue in terms of productivity, cost, and quality. Many companies are outsourcing injection molding services because it provides benefits such as strategic optimization, reduced inventory, economies of scale, quick start-up time, and increased quality.
Browse through Grand View Research's Advanced Materials Industry Related Reports
- Metal Injection Molding Market- The global metal injection molding market size was valued at USD 2.1 billion in 2015 and is projected to grow at a CAGR of 11.9% from 2016 to 2025. Rapid growth experienced by this industry attributes to increasing demand from end-use industries such as automotive & aerospace, consumer goods, and medical devices.
- Injection Molding Machine Market - The global injection molding machine market size was valued at USD 14.2 billion in 2020 and is expected to expand at a CAGR of 4.5% from 2021 to 2028. Increasing adoption of injection molding machines (IMM) in the automotive, electronics, and packaging industries is likely to be the key driver for the growth of the industry over the forecast period.
Market Share Insights
March 2022: Beacon MedTech Solutions increased its medial injection molding capacity with the installation of the SE-EV-A series Sumitomo (SHI) Demag machines.
February 2020: HTI Plastics added new Haas VF-3SSYT Vertical mills, thereby enhancing its lineup in CNC machinery, along with gaining the ability to perform greater detailed work with increased precision at a fast pace. This investment helped the company in increasing setup time, thereby boosting the turnaround on finished components.
Key Companies profiled:
Some prominent players in the global Medical Injection Molding market include
- C&J INDUSTRIES
- All-Plastics
- Biomerics
- HTI Plastics
- The Rodon Group
- EVCO Plastics
- Majors Plastics, Inc
- Proto Labs, Inc
- Tessy Plastics
- Currier Plastics, Inc.
- Formplast GmbH
- H&K Müller GmbH & Co. KG
- Hehnke GmbH & Co KG
- TR PLAST GROUP
- D&M Plastics, LLC
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