Micro Injection Molding Medical Devices Market: Size, Growth, Regional Analysis, And Market Analysis

Micro Injection Molding:

Micro molding is an injection molding technique that produces exceedingly small parts with micron tolerances for medical device manufacturing. Micro molding services and equipment can be found in this medical device supplier directory.

Market Growth:

The global Micro Injection Molding Medical Devices Market was estimated at USD 1.38 billion in 2019, with a compound annual growth rate (CAGR) of 8.2 percent projected from 2020 to 2027.

Over the projected period, the market is likely to be driven by rising demand for plastic, and metal injection molded components in the medical industry. Furthermore, the growth of the home healthcare industry has resulted in an increase in demand for medical devices due to the lower costs involved when compared to hospitals and intensive care. The rising demand for medical equipment is also due to hospitals' various sorts of medical tests for diagnosis.

Some of the primary drivers propelling the healthcare industry in the United States are the country's growing geriatric population, advanced healthcare infrastructure, and relatively higher disposable income levels. Furthermore, the country spends the most on healthcare in the world. The growing need for small-sized components, mainly from the medical industry, is the primary driving force behind the Micro Injection Molding Medical Devices Market. A shift in the trend toward replacing phthalate-containing polymers like PVC with thermoplastics and rising demand for micro materials has spurred micro moulding in the medical industry.

The demand for these devices in the region is exceptionally high, and it is projected to continue in the future years. The rising production and assembly bases for automotive, aerospace components and the rise of the electronics sector in the Asia-Pacific regions are likely to provide scope for the usage of polymer microinjection mouldings in the next few years.

Regional Analysis:

In 2019, Asia Pacific dominated the global Micro Injection Molding Medical Devices Market with more than 38% revenue share. During the forecast period, the area is also expected to have the quickest CAGR. Growing population, developing healthcare infrastructures, an increasing number of people opting for home care services, and rising medical tourism in the region contribute to market expansion in the Asia Pacific.

Key Players:

Medical, Stamm AG, SMC, BMP MicroPEP, PEXCO, MTD Micro Molding, Sovrin Plastics, Accumold, Microsystems, Kamek Precision Tools, Microtech, Makuta Technics, Stack Plastics, American Precision Products, Precimold, Rapidwerks, and others are some of the leading players in the Micro Injection Molding Medical Devices Market.