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Medical Component Manufacturing Market Report 2023-2032: Market Size, Growth Drivers And Key Trends
The Business Research Company's Medical Component Manufacturing Global Market Report 2023 identifies medical devices as the major driver for the Medical Component Manufacturing market's growth in the forecast period. Medical devices are instruments, machines, appliances, software, implants, or other similar articles used in diagnosing, preventing, monitoring, treating, or alleviating diseases or medical conditions in humans.
The global medical component manufacturing market is expected to grow from $12.44 billion in 2022 to $13.29 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The medical component manufacturing market is expected to reach $17.03 billion in 2027 at a CAGR of 6.4%.
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Major competitors in the Medical Component Manufacturing market are Johnson & Johnson Services Inc., Abbott Laboratories Inc., 3M Company, Heraeus Holding GmbH.
A key trend in the Medical Component Manufacturing market includes technological advancement. Major companies operating in the medical component manufacturing market are developing advanced technologies to create innovative solutions to sustain their position in the market. For instance, in June 2021, Stratasys Ltd., an Israel-based additive manufacturing company, introduced a new Stratasys J5 MediJet 3D printer for medical component manufacturing.
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The Medical Component Manufacturing market is segmented -
•By Process: Forging, Metal Injection Molding, 3D Printing, Ceramic Injection Molding, Investment Casting, Plastic Injection Molding, Other Processes
•By Service: Device Development And Manufacturing Services, Quality Management Services, Final Goods Assembly Services
•By Application: Laparoscopy, Pulmonary, Urology And Gynecology, Cardiovascular, Orthopedic, Oncology, Neurovascular, Radiology, Other Applications
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Medical Component Manufacturing market.
The Business Research Company's "Global Medical Component Manufacturing Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Medical Component Manufacturing Market Include:
1. Executive Summary
2. Medical Component Manufacturing Market Characteristics
3. Medical Component Manufacturing Market Trends And Strategies
4. Medical Component Manufacturing Market - Macro Economic Scenario
5. Global Medical Component Manufacturing Market Drivers and Restraints
……
32. Global Medical Component Manufacturing Market Competitive Benchmarking
33. Global Medical Component Manufacturing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Medical Component Manufacturing Market
35. Medical Component Manufacturing Market Future Outlook and Potential Analysis
36. Appendix
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