Pune, India -- (SBWIRE) -- 01/30/2020 -- Global medical injection molding market is expected to rise to an estimated value of USD 1.85 billion by 2026, registering a steady CAGR in the forecast period of 2019-2026. This rise in market value can be attributed to the cost-effective nature of this method for developing large quantities of medical-based products. Few of the major competitors currently working in the global medical injection molding market are C&J Industries; HTI Plastics; AMS Micromedical, LLC; Currier Plastics Inc; Proto Labs; MRPC; Metro Mold & Design; HARBEC; Milacron; ENGEL AUSTRIA GmbH; NINGBO WELLMEDLAB CO.,LTD; Bright Plastics; JG Plastics Group LLC; Stack Plastics; Indo-MIM; JunoPacific, Inc.; Gerresheimer AG; ICO Mold, LLC; Mack; PROVIDIEN LLC; Baytech Plastics Inc.; Westfall Technik, Inc.; EG Industries; Tegra Medical; Spectrum Plastics Group; Crescent Industries among others.

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Market Definition: 

Medical injection molding is defined as the manufacturing method designed especially for production of medical devices and products for the healthcare industry. Injection molding is the process of manufacturing products by heating materials such as plastic and metals till the extent that they are formed as liquids which can be injected into pre-made molds to provide a solid shape for its production.

Market Drivers


- High demands for plastic-based injection molding products from the healthcare industry is expected to propel the growth of the market

- Various innovations of technology and advancements associated with the injection molding industry as a whole; this factor is expected to boost the growth of the market

- Increasing volume of medical devices, products and consumable consumption giving rise to enhance utilization of this technology is another factor uplifting the growth of this market


Market Restraints


- Presence of strict regulatory demands from the authorities regarding the medical products and their manufacturing will restrict the growth of this market

- High prevalence of various environmental concerns associated with the injection molding process also acts as a market restraint in the forecast period


Segmentation:

By System


- Hot Runner

- Cold Runner


By Class


- Class I

- Class II

- Class III


By Material


- Plastic


- Injection Blow Molding

- Extrusion Blow Molding




- Metal


By Geography


- North America


- S.

- Canada

- Mexico




- Europe


- Germany

- Italy

- K.

- France

- Spain

- Netherlands

- Belgium

- Switzerland

- Turkey

- Russia

- Rest of Europe




- Asia-Pacific


- Japan

- China

- India

- South Korea

- Australia

- Singapore

- Malaysia

- Thailand

- Indonesia

- Philippines

- Rest of Asia-Pacific




- South America


- Brazil

- Rest of South America




- Middle East and Africa


- South Africa

- Rest of Middle East and Africa





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Key Developments in the Market:


- In May 2019, Westfall Technik, Inc. announced that they had acquired Delta Pacific Products along with it's subsidiaries. This acquisition will ensure that Westfall Technik can undergo high levels of growth and expand its expertise for medical devices and healthcare industry applications. This will also expand the geographical presence and footprint of the company as they will be able to enhance their customer base from these regions

- In March 2016, MRPC announced that they had acquired Johnson Precision. This acquisition will result in significant enhancement of technologies and services for MRPC as they will attain molding capabilities and tooling, along with attaining a Class 8 clean room in their assets. This acquisition is part of the company's growth strategy which can help them develop enhanced levels of customers and expand their presence worldwide


Competitive Analysis:

Global medical injection molding market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of medical injection molding market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Reasons to Purchase this Report


- Current and future of global medical injection molding market outlook in the developed and emerging markets

- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period

- Regions/Countries that are expected to witness the fastest growth rates during the forecast period

- The latest developments, market shares, and strategies that are employed by the major market players


Customization of the Report:


- All segmentation provided above in this report is represented at country level

- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)


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