Medical Injection Molding Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 28, 2024 /EINPresswire.com/ -- The global medical injection molding market has shown impressive growth, expanding from $23.62 billion in 2023 to $25.48 billion in 2024, at a robust compound annual growth rate (CAGR) of 7.9%. This growth has been driven by a surge in telemedicine and remote patient monitoring, increased emphasis on infection control, the expansion of the global healthcare sector, and a significant rise in healthcare spending. The increased adoption of disposable medical devices has also played a crucial role in this upward trend.

Looking ahead, the market is projected to continue its upward trajectory, reaching $34.63 billion by 2028, with a slightly higher CAGR of 8%. This forecasted growth can be attributed to several factors, including the rising demand for home healthcare devices, a growing focus on patient safety, the trend toward personalized medicine, increased demand for minimally invasive surgeries, and the rising prevalence of chronic diseases.

Rising Demand for Medical Equipment Fuels Growth in Medical Injection Molding
The escalating demand for medical equipment is a primary driver of the medical injection molding market. Medical equipment, encompassing devices, instruments, machines, or implants used in healthcare for diagnosing, treating, monitoring, or preventing medical conditions, has seen increased demand due to the rising prevalence of chronic diseases, expansion of healthcare infrastructure, and the need for updated medical device infrastructure. Medical injection molding plays a crucial role in efficiently and precisely producing complex medical device components, ensuring high-quality and reliable parts that adhere to stringent medical standards. For instance, the International Trade Administration reported that the local production of medical devices in Australia grew from $1,856 million in 2021 to $2,049 million in 2022, while imports from the US increased from $1,455 million to $1,551 million during the same period.

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Key Players and Market Trends
The medical injection molding market features several major players, including Jabil Inc., Flex Ltd., Phillips-Medisize (Molex LLC), Gerresheimer AG, Viant Medical Inc., and Dynacast International Inc. These companies are leading innovations in the industry, focusing on developing high-precision and durable components for medical devices.

Segments:
• Product: Medical Equipment Components, Consumables, Patient Aids, Orthopedic Instruments, Dental Products
• Material: Plastic, Metal, Ceramic, Other Materials
• Classes: Class I, Class II, Class III
• Application: Medical Devices, Diagnostic Instruments, Surgical Instruments, Pharmaceutical Delivery
• End-User: Hospitals, Clinics, Diagnostic Centers, Pharmaceutical Companies

Geographical Insights: Asia-Pacific Leading The Market
Asia-Pacific was the largest region in the medical injection molding market in 2023. However, North America is expected to be the fastest-growing region during the forecast period, driven by advancements in healthcare technology, increased investment in healthcare infrastructure, and a growing demand for innovative medical devices.

Access the complete report for an in-depth analysis of the global medical injection molding market: https://www.thebusinessresearchcompany.com/report/medical-injection-molding-global-market-report

Medical Injection Molding Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Medical Injection Molding Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on medical injection molding market size, medical injection molding market drivers and trends, medical injection molding market component molding, medical injection molding plastic injection molding, medical injection molding market medical, medical injection molding market major players, medical injection molding competitors revenues, medical injection molding market positioning, and medical injection molding market growth across geographies. The medical injection molding market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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