The global medical injection molding market size is expected to reach USD 2.59 billion by 2027 according to a new report by Grand View Research, Inc., expanding at a CAGR of 8.2%, over the forecast period. Medical injection molding incorporates the assembling of medical devices and components utilizing medical-grade plastic materials that are reliable, durable, and comply with the FDA guidelines. The medical injection molding procedure is cost-effective, is used in applications requiring consistency, and perfect for high-volume production runs & tight resistances.
Increasing penetration of injection-molded plastic products in healthcare is one of the key factors driving the market. Plastic does not rust or corrode like metal, it is lightweight as opposed to other materials, and it can be molded into complex shapes, sizes, and patterns. These factors are driving the demand for plastics in the manufacturing of healthcare products.
An increase in the availability of cost-effective medical-grade plastics, growing access to healthcare supplies across the globe, and demand for medical devices are expected to boost the market growth. Plastics have also replaced glass in several laboratory consumables, improving laboratory safety and reducing consumables cost.
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Medical Injection Molding Market Report Highlights
• Hot runner injection molding systems is expected to witness a CAGR of 8.3% over the forecast period, owing to faster cycle time & lower pressure requirement to push the molten mixture into the mold cavity, as well as the elimination of waste due to the absence of runners
• Metal injection molding in the medical applications accounted for 24.0% of the total revenue share in 2019 as it is suitable for the manufacturing of intricate, small, and precision metal components
• Class 3 medical devices accounted for 38.4% of the total revenue share in 2019 on account of the high adoption of injection molding in the manufacturing of medical device components
• Asia Pacific is estimated to be the fastest-growing regional market at a CAGR of 8.8% over the forecast period
• This growth is attributed to the expanding healthcare infrastructures, increasing demand for home care facilities, and rising medical tourism sector in the region
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Medical Injection Molding Market Segmentation
Medical Injection Molding System Outlook (Revenue, USD Million, 2016 – 2027)
- Hot Runner
- Cold Runner
Medical Injection Molding Class Outlook (Revenue, USD Million, 2016 – 2027)
- Class I
- Class II
- Class III
Medical Injection Molding Material Outlook (Revenue, USD Million, 2016 – 2027)
Medical Injection Molding Regional Outlook (Revenue, USD Million, 2016 – 2027)
- The U.S.
- The U.K.
- China (Mainland)
- South Korea
Middle East & Africa
- South Africa
- Saudi Arabia
List of Key Players of Medical Injection Molding Market
- C&J Industries
- HTI Plastics
- AMS Micromedical LLC
- Proto Labs, Inc.
- Metro Mold & Design Inc.
- ENGEL AUSTRIA GMBH
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About Grand View Research
Grand View Research is a market research and consulting company headquartered in San Francisco, which offers syndicated research reports, customized research reports, and consulting services to clients across a number of industries, including healthcare, materials, chemicals, energy, technology, and food and beverage, among others.
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