According to the latest report by IMARC Group, titled “Medical Injection Molding Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global medical injection molding market exhibited moderate growth during 2015-2020. Medical injection molding is a cost-efficient method of manufacturing different components and devices using durable and reliable materials. It is commonly utilized for manufacturing emergency room instruments, wearable medical devices, surgical implants and drug delivery systems. As medical injection molding offers high tensile strength, metal tolerance, and temperature resistance, it is also used in medical device prototype development, as well as laboratory testing procedures.
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The escalating demand for medical-grade plastics in electronic devices is primarily influencing the need for the medical injection molding process to enhance versatility, reduce weight, increase functionality, lower cost and eliminate the requirement for product sterilization. This process also helps in the production of delivery devices for stents, implants, and sutures. Additionally, several key market players are offering assembly services of different subcomponents in large, complicated medical devices. Moreover, the introduction of state-of-the-art vertical medical molding facilities is further contributing to the market growth as they are resistant to chemicals and heat. Apart from this, the increasing number of individuals suffering from chronic diseases, along with the growing geriatric population and the rising popularity of home healthcare services, are anticipated to strengthen the growth of the market over the forecasted period. Looking forward, IMARC Group expects the global medical injection molding market to grow at a CAGR of around 6% during the forecast period (2021-2026).
Market Analysis and Segmentation:
Breakup by System:
- Hot Runner
- Cold Runner
Breakup by Class:
- Class I
- Class II
- Class III
Breakup by Material:
Competitive Landscape with key players:
- AMS Micromedical LLC
- Arburg GmbH + Co KG
- Bright Plastics
- C&J Industries
- Currier Plastics Inc.
- ENGEL Austria GmbH
- HTI Plastics (Pce Inc.)
- Molded Rubber & Plastic Corporation
- Metro Mold & Design
- Milacron (Hillenbrand Inc.)
- Proto Labs Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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