Dublin, March 06, 2023 (GLOBE NEWSWIRE) -- The "Global Medical Injection Molded Plastics Market Size by Product Material, Application - Industry Analysis and Growth Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The medical injection-molded plastics industry has garnered $23,014.7 million revenue in 2021, and it is projected to rise at a rate of 5.7% from 2021 to 2030, to generate $37,899.5 million in 2030.
It is ascribed to the rising consumption of plastic in various healthcare applications, including medical devices, mobility aids, and implant packaging.
Moreover, the surging research & development expenditure, and technological advancements in the healthcare sector propels the requirement for medical-grade injection-molded polymers.
Medical components capture the substantial industry revenue, of approx. 25% and it is further projected to follow the same trend from 2021 to 2030. It is attributed to the massive usage of high-grade plastics for medical equipment manufacturing, including catheters, syringes, containers, and medical bags. Furthermore, the rising requirement for light and durable medical products, easy to sterilize is projected to propel the industry.
Additionally, the implants generate significant industry revenue, and their sales are projected to rise at a faster rate in the near future. It is ascribed to the rising elderly population, and the growing prevalence of dental implants, orthopedic disorders, endovascular disorders, and cardiovascular diseases.
In addition, the technological advancements in medical implants, led by extensive R&D to provide better results of medical procedures, cause industry propulsion. Furthermore, mobility aids have experienced the highest CAGR, and it is projected to rise at the fastest rate in the future.
It is ascribed to the worldwide rising elderly population, various technological advancements, and increasing healthcare expenses in developing countries. Moreover, the rising usage of mobility aids, such as drinking aids, wheelchairs, and bath chairs, propels the market expansion.
Injection-molded plastics play a greater role in the transformation of the healthcare sector. These materials are used in the manufacturing of blood sample analysis cuvettes, pregnancy test devices, needle housing, and other medical components. It ensures their lightweight, easy sterilization, and higher affordability.
In addition, these polymers can be utilized in the production of disposable plastic syringes, and blood bags, by molding them. These plastics are used to create antibacterial contact interfaces that can kill bacteria and other pathogens, and reduce infection spread.
Moreover, these plastics can be customized to cater to the requirements of specific applications. They hold the potential to adapt to the smallest and most-delicate molds. Plastics are massively used in the production of surgical equipment, and products, including contemporary pacemakers, stents, catheters, and joint replacement systems.
North America holds the largest industry revenue, of over 40%, and it is projected to follow the same trend in the near future. It is ascribed to growing per capita income, surging healthcare costs, and a rising elderly population.
The U.S. captures a substantial share of the region-based industry, ascribed to highly advanced technology, growing demand for implantable devices, rising health awareness, healthcare policies, and government support.
APAC is projected to experience the fastest growth in the coming future, rising at a rate of over 6%. It is led by the growing application of injection-molded plastics in medical implants, components, and mobility aids.
In addition, the increasing consumer awareness of affordable medical products developed by molded products, rising concern on research and development of medical devices, and growing adoption of cutting-edge technologies in healthcare is projected to propel the industry growth.
Therefore, the medical injection molded plastics industry is projected to rise due to the increasing elderly population.
Key Metrics
| Report Attribute | Details |
| No. of Pages | 170 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value (USD) in 2021 | $23014.7 Million |
| Forecasted Market Value (USD) by 2030 | $37899.5 Million |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Company Profiles
- The Dow Chemical Company
- Eastman Chemical Company
- C&J Industries
- PCE Inc.
- Biomerics LLC
- EVCO Plastics
Key Topics Covered:
Chapter 1. Research Scope
1.1. Research Objectives
1.2. Market Definition
1.3. Analysis Period
1.4. Market Size Breakdown by Segment
1.5. Market Data Reporting Unit
Chapter 2. Research Methodology
2.1. Secondary Research
2.2. Primary Research
2.3. Market Size Estimation
2.4. Data Triangulation
Chapter 3. Executive Summary
Chapter 4. Industry Outlook
4.1. Market Dynamics
4.1.1. Trends
4.1.2. Drivers
4.1.3. Restraints/challenges
4.1.4. Impact analysis of drivers/restraints
4.2. Impact of COVID-19
4.3. Porter's Five Forces Analysis
Chapter 5. Global Market
5.1. Overview
5.2. Market Revenue, by Material Type (2017-2030)
5.3. Market Revenue, by Application (2017-2030)
5.4. Market Revenue, by Region (2017-2030)
For more information about this report visit https://www.researchandmarkets.com/r/vlcdys
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