How Has the Medical Injection Molding Market Evolved Historically and What is its Current Size?
The medical injection molding market has seen considerable growth due to a variety of factors.
• The medical injection molding market has seen substantial growth in recent years. It will increase from $25.48 billion in 2024 to $27.55 billion in 2025, reflecting a CAGR of 8.1%.
Growth factors include the rise of telemedicine and remote monitoring, greater focus on infection control, the global expansion of healthcare, increased healthcare spending, and the growing use of disposable medical devices.
What is the Forecasted Market Size and CAGR for the Medical Injection Molding Market?
The medical injection molding market is expected to maintain its strong growth trajectory in upcoming years.
• The medical injection molding market is expected to grow to $37.32 billion by 2029 at a CAGR of 7.9%.
The growth is driven by increased demand for home healthcare devices, patient safety concerns, the rise of personalized medicine, minimally invasive surgeries, and chronic diseases. Trends include the shift toward biodegradable materials, growth in wearable medical devices, automation adoption, micro and nano molding techniques, and IoT integration in medical devices.
What Key Factors and Trends Are Driving The Growth Medical Injection Molding Market?
The growing demand for medical equipment is projected to propel the growth of the medical injection molding market. Medical equipment includes devices, instruments, machines, or implants used in healthcare. The demand for such equipment has increased due to the rising prevalence of chronic diseases, healthcare infrastructure expansion, and the need to update medical device systems. Medical injection molding is critical for efficiently producing high-quality, precise components for medical devices. For instance, the International Trade Administration reported in January 2024 that local medical device production in Australia increased from $1.856 billion in 2021 to $2.049 billion in 2022, indicating a rise in demand for medical equipment and, by extension, medical injection molding.
What Are The Market Segments In The Medical Injection Molding Market?
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
Subsegments:
1) By Medical Equipment Components: Surgical Instrument Handles, Catheters And Tubing Components, Infusion Sets And Syringe Components, Respiratory Device Components
2) By Consumables: Syringes And Needles, IV Components (IV Bags, Connectors), Disposable Gloves, Surgical Drapes And Covers, Wound Dressings And Bandages, Inhalers And Nebulizers, Surgical Masks And Face Shields
3) By Patient Aids: Hearing Aid Components, Prosthetic Parts And Components, Crutches And Wheelchair Parts, Stoma And Colostomy Bags, Bedpans And Medical Trays, Compression Garments, Blood Glucose Monitoring Devices
4) By Orthopedics Instruments: Bone Plates And Screws, Joint Replacement Components, Spinal Implants, Surgical Instruments For Orthopedic Procedures, Orthopedic Casting Components
5) By Dental Products: Dental Implants And Crowns, Dental Trays And Molds, Orthodontic Brackets And Components, Denture Components And Accessories, Endodontic Files And Instruments, Toothbrushes And Oral Care Devices
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How Are New Trends Impacting The Size Of The Medical Injection Molding Market?
Leading firms in the medical injection molding market are prioritizing the development and production of electric injection molding machines specifically engineered for cleanroom conditions. These machines focus on the high-precision, no-contamination production of medical devices and components, adhering to strict hygiene and quality standards. Take Shibaura Machine Company, for example; a company based in Japan that specializes in precise injection molding machines, machine tools, and die-casting machines. In March 2024, they introduced the EC110SXIII machine, designed for the molding of various products. The all-electric design comprises plated platens, stainless steel protection, a heightened platform for straightforward cleaning, NFS H1-certified lubrication grease, an extended ejector stroke, and a cleanroom-specific configuration. These novel improvements guarantee superior cleanliness, exactitude, productivity, durability, and adaptability while meeting high medical standards. This heightens its relevance in the medical injection molding market for the production of no-contamination, exact medical components in controlled cleanroom conditions.
Who Are the Key Players In The Medical Injection Molding Market?
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
What Are The Regional Insights Into The Medical Injection Molding Market?
Asia-Pacific was the largest region in the medical injection molding market in 2024. 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.
