Medical injection molding market forecast at $10.8 billion by 2031

Pune, India – According to a new comprehensive report from The Insight Partners, the medical injection molding market is witnessing significant growth owing to the increasing demand for medical devices and equipment and growing advancements in molding technologies. The medical injection molding market analysis focuses on various technologies that are expected to play a vital role in the market growth in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.

Overview of Report Findings are Market Growth: The medical injection molding market value is expected to reach US$ 10.80 billion by 2031 from US$ 7.52 billion in 2024; the market is anticipated to register a CAGR of 5.3% during 2025–2031. The medical injection molding market growth is attributed to the surging government funding for medical injection molding and increasing prevalence of newborn disorders. Moreover, the rising burden of congenital diseases is likely to fuel the market expansion in the coming years.

Growing Demand for Medical Devices: The rising demand for medical devices fuels the medical injection molding market. As the demand for healthcare is rising, the need for top-notch medical tools such as needles, surgery gear, and testing equipment is growing. According to the World Health Organization (WHO), by 2030, one out of every six people worldwide will be 60 or older. At that time, the portion of the people aged 60 years old and above will increase from 1 billion in 2020 to 1.4 billion. By 2050, the global count of individuals 60 and older will reach 2.1 billion, doubling in size.

The growth is due to the shift toward throw-away medical items. With more attention on keeping germs at bay, loads of disposable things such as needles, IV kits, and test packs using injection molding. This method lets us make tons of these items while keeping them all the same and germ-free.

New molding tech allows us to make complex and tiny devices. Micro-injection molding is used to create parts for medical gadgets such as tiny tubes and drug delivery systems where being exact and reliable matters. This growing field drives up the need to make medical devices in large numbers and with great accuracy through advanced injection molding methods.

Technological Advancements in Injection Molding: Key players such as Medtronic and Johnson & Johnson use the latest technologies, such as multi-material injection molding to make complex devices that work better. Johnson & Johnson’s surgical tools often have both soft and hard parts made using over-molding and multi-material molding, which gives the tools both toughness and flexibility.

Micro-injection molding has caused a revolution in tiny medical parts are being made. For instance, Smiths Medical uses this tech to make small exact parts for catheters and implants. These tiny pieces, made with high accuracy, are key in micro-catheters and systems that deliver drugs where being exact is crucial.

Companies use hot runner systems to cut down on wasted material and production time. For instance, LUXMATE, a hot runner technology used by Mold-Masters.

These advancements enable companies to meet the growing demand for high-quality, cost-effective medical devices, from diagnostic equipment to surgical tools, improving both product performance and production efficiency in the medical device sector.

Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Asia Pacific is expected to register the highest CAGR during the forecast period.

Key players: Aberdeen Technologies Inc, Husky Technologies, The Rodon Group, UPG International, Proto Labs, C&J Industries, Ensinger, Sanner GmbH, Feronyl, and Biomerics LLC are among the major companies operating in the medical injection molding market.