The global ”plastic injection molding for medical device market” is set to gain momentum from its ever-increasing usage in various manufacturing processes in the healthcare industry. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Plastic Injection Molding for Medical Device Market Size, Share & Industry Analysis, By Product (Drug Delivery Products, Package & Containers, Diagnostic Test Kits, Surgical Consumables, Others), By End User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Others) and Regional Forecast 2020-2027.” The report further mentions that plastic injection molding for medical devices are utilized to produce laboratory equipment, test tubes, beakers, and other medical components.
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Drivers & Restraints-
Increasing Research and Development Activities to Boost Growth
The high demand for plastic-based products for propelling the research and development activities in the biotechnology and pharmaceutical industries is set to bolster the plastic injection molding for medical device market growth in the near future. Also, plastic injection molding for medical devices are cost-effective, which, in turn, make them very popular in multiple industries. However, the process of setting up a system or a factory to manufacture plastic injection molding for medical devices involves high cost spending. It may hinder growth.
The global plastic injection molding for medical device market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America followed by Europe dominated the global market in 2019, owing to the rise in R&D of the pharmaceutical & biotechnology industries. Additionally, stringent regulatory requirements imposed by the U.S government in manufacturing of the products is responsible for increased sales of medically graded products. Asia Pacific is likely to witness higher CAGR in the market owing to setup of manufacturing plants in the region to raise the market potential. Latin America and Middle East & Africa are projected to register a comparatively lower CAGR by the end of the forecast period.
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Key Players Focus on Mergers & Acquisitions to Gain a Competitive Edge
The global market for plastic injection molding for medical device houses numerous prominent companies that are persistently striving to gain a competitive edge through mergers and acquisitions. Below are the two significant industry developments:
- January 2020: Comar and iMARK Molding signed a new agreement to provide better service to the medical device industry. It would enable both companies to deliver premium-quality custom plastic molding and engineering to clients.
- February 2017: Kohlberg & Company LLC acquired Pexco LLC specializing in the manufacturing of plastics. This new deal would help the former to strengthen its position.
A list of all the renowned plastic injection molding for medical device manufacturers operating in the global market:
- Stack Plastics
- SEA-LECT PLASTICS CORPORATION
- SMC Plastics Ltd.
- Teleflex Incorporated
- R. Bard
- PCE Inc.
- Other prominent companies
What are the key segments in the market?
GlobalPlastic Injection Molding for Medical Device Market Segmentation :
- Drug Delivery Products
- Package & Containers
- Diagnostic Test Kits
- Surgical Consumables
By End User
- Hospitals & Clinics
- Pharmaceutical & Biotechnology Companies
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and the Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and the Rest of Asia Pacific)
- Latin America (Brazil, Mexico, the Rest of Latin America)
- Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)
With tables and figures helping analyse worldwide Global plastic injection molding for medical device Market Forecast provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
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