The global medical micro injection molding market is anticipated to reach market size of around US$ 500 Mn by 2027 and is anticipated to grow at a CAGR of around 11% in terms of revenue during the forecast period 2020 – 2027.
The micro injection molding process is intended to reduce medical equipment size within the reach of several microns or sub-microns. Products developed with these techniques are extremely precise in order to manufacture a large number of micro components repeatedly and continuously with complex type and higher quality at low cost. Micro molding is used in the electrical, biomedical and automotive industries. The medical system has a particular value in miniature precision, which in turn raises the market for micro molding process in medical devices. Size and precision play an important role in the medical industry because it impacts its functionality and device protection. Medical instruments consist of bioabsorbables or thermoplastics for microinjection molding. The normal medical product that is developed by microshaping is surgical devices, hearing aids, monitoring devices, catheters, endoscopic devices, other sequencing devices and DNA-based science.
The growing demand for healthcare products for plastic-based injection moldings is expected to spur development in the global market for medical injection molding. The volume of medical equipment, drugs and consumables has risen, which leads to a rise in the usage of this technology and, in turn, anticipates boosting consumer development. High prevalence of numerous environmental issues related to the method of the injection molding and high regulatory requirements on medical goods and their development are, on the other hand, some restricting factors which can hinder market growth.
In addition to continued investments in the area to advance medical, packaging and aero-space technologies over years, the highly evolved automotive industry and automation in China, Korea, and Japan are projected to dominate the Asia-Pacific global market. For its mass production capabilities and relatively low production costs, microinjection moulding can be described as one of the main microprocessing technologies. Electronic components and appliances are designed for long-term use and thus the quality of the components used in production should be of the highest quality. The micro-molding method of thermoplastics lets the electronics sector fulfill its requirements. The use of such molded products in the electronic industry is few in Sim card connections, pin connectors, single and Multi-mode ferrules, and coax plugs. In recent years the increasing vehicle and aerospace part manufacturing and assembled base in the Asia-Pacific area is expected to soon have room for use in the thermoplastic micro molding. According to hearit.org, for 2019, a combined prevalence of hearing loss among people living in the Delhi region of India was 26.9%. The improved use of hearing aids and other medical services has boosted the market in the medical sector for thermoplastic micro molding. Aerospace and automotive manufacturing development will be required to force the markets of thermoplastic micro molding ahead in emerging countries, China, Japan, Korea and India and expanding packaging and medical industries over the next few years.
Some of the prominent players in the medical micro injection molding market include Medical, Stamm AG, SMC, BMP MicroPEP, PEXCO, MTD Micro Molding, Sovrin Plastics, Accumold, Microsystems, Kamek Precision Tools, Mikrotech, Makuta Technics, Stack Plastics, American Precision Products, Precimold, Rapidwerks, and others.
The global medical micro injection molding market is segmented as below:
Medical Micro Injection Molding Market By Type
Medical Micro Injection Molding Market By Application
Medical Micro Injection Molding Market By Geography
Middle East & Africa
The market for medical micro injection molding is expected to reach a market value of around US$ 500 Mn by 2027.
The medical micro injection molding market is expected to grow at a CAGR of around 11% from 2020 to 2027.
The PE is the leading segment by type in the medical micro injection molding market.
The surging demand for plastic-based injection molding products from the healthcare industry is expected to spur up the growth of the global medical injection molding market.
Medical, Stamm AG, SMC, BMP MicroPEP, PEXCO, MTD Micro Molding, Sovrin Plastics, Accumold, Microsystems, Kamek Precision Tools, Mikrotech, Makuta Technics, Stack Plastics, American Precision Products, Precimold, Rapidwerks, and others are the prominent players in the market.
North America held the highest market share in the medical micro injection molding market.
Asia Pacific is expected to be the fastest growing market over the forecast period.