Press release
Surging Demand For Medical Devices Propels Growth In The Medical Component Manufacturing Market
Medical Component Manufacturing Market Size
What Is the Medical Component Manufacturing Market Size and Projected Growth Rate?
There has been substantial growth in the medical component manufacturing market recently. The market size is predicted to rise from $14.28 billion in 2024 to $15.17 billion in 2025, signifying a compound annual growth rate (CAGR) of 6.2%. The past growth has been influenced by factors such as the expansion of the healthcare sector, increased pharmaceutical research and development, rising demand for diagnostic testing, globalization in the chemical industry, and regulatory compliance requirements.
The market for manufacturing medical components is anticipated to witness robust growth in the upcoming years. With a compound annual growth rate (CAGR) of 7.4%, the market is projected to reach $20.22 billion by 2029. Factors contributing to this growth within the predicated period include escalated demand for tailor-made medicine, intensified biotechnology research, the growth of environmental testing, the burgeoning food and beverage sector and the worldwide expansion of drug manufacturing. Notable trends for the forecast period involve a heightened focus on eco-friendly chemistry methods, rising employment of automation in lab settings, a surge in the demand for specialty chemicals, the evolution of sustainable chemical processes, and the integration of artificial intelligence into lab workflows.
Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12550
What Are the Major Segments in the Medical Component Manufacturing Market?
The medical component manufacturing market covered in this report is segmented -
1) By Process: Forging, Metal Injection Molding, 3D Printing, Ceramic Injection Molding, Investment Casting, Plastic Injection Molding, Other Processes
2) By Service: Device Development And Manufacturing Services, Quality Management Services, Final Goods Assembly Services
3) By Application: Laparoscopy, Pulmonary, Urology And Gynecology, Cardiovascular, Orthopedic, Oncology, Neurovascular, Radiology, Other Applications
Subsegments:
1) By Forging: Open-Die Forging, Closed-Die Forging, Precision Forging
2) By Metal Injection Molding: Stainless Steel Components, Titanium Components, Other Metal Components
3) By 3D Printing: Polymer-Based Printing, Metal-Based Printing, Bioprinting
4) By Ceramic Injection Molding: Alumina Components, Zirconia Components, Other Ceramic Materials
5) By Investment Casting: Precision Investment Casting, Shell Casting, Other Investment Casting Techniques
6) By Plastic Injection Molding: Thermoplastics, Thermosetting Plastics, Biodegradable Plastics
7) By Other Processes: Extrusion, Machining, Die Casting
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12550&type=smp
What Are The Driving Medical Component Manufacturing Market Evolution?
The boost in the need for medical devices propels the expansion of the medical component manufacturing market. These devices include tools, machinery, software programs, implants, and other similar items utilized for the detection, prevention, observation, treatment, or mitigation of diseases or medical conditions in humans. The process of medical component manufacturing creates elements like injection-molded and electronic components required in medical devices. For instance, the International Trade Administration, a US-based government entity, reported in January 2024 that there was growth in the medical devices industry from US$ 1,856 million in 2021 to US$ 2,049 million in 2022. Hence, the escalating requirement for medical devices steers the growth of the medical component manufacturing industry.
Which Firms Dominate The Medical Component Manufacturing Market Segments?
Major companies operating in the medical component manufacturing market include Johnson & Johnson Services Inc., Abbott Laboratories Inc., 3M Company, Heraeus Holding GmbH, Medtronic plc, Danaher Corporation, Siemens Healthineers AG, Becton inson and Company, Koninklijke Philips NV, Stryker Corporation, Baxter International Inc., Boston Scientific Corporation, Olympus Corporation, The Lubrizol Corporation, Intuitive Surgical Inc., Terumo Corporation, Varian Medical Systems Inc., West Pharmaceutical Services Inc., The Ensinger Group, 3D Systems Inc., Hudson Technologies Inc., Seisa Medical Inc, Viant Medical Inc., Anchor Harvey Components LLC, The Rodon Group, Nexxt Spine LLC, Hologic Inc., American Casting Company, Optimum Medical Limited, Walter Stern Inc.
What Trends Are Expected to Dominate the Medical Component Manufacturing Market in the Next 5 Years?
Leading firms in the medical component manufacturing market are innovating with technologies like metal injection molding technology. This technology increases accuracy and minimizes production waste. Metal injection molding technology is a production process that blends injection molding and powder metallurgy techniques to create intricate and precise metal parts, by injecting a composite of metal powder and polymer into a mold. For example, Biomerics, a medical equipment manufacturing entity from the US, unveiled its vertically integrated metal injection molding (MIM) services in October 2024. This new Metal Injection Molding (MIM) service accessible via a Center of Excellence expands capabilities in creating intricate, high-efficiency interventional medical devices.
Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/medical-component-manufacturing-global-market-report
Which Is The Largest Region In The Medical Component Manufacturing Market?
North America was the largest region in the medical component manufacturing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical component manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Medical Component Manufacturing Market?
2. What is the CAGR expected in the Medical Component Manufacturing Market?
3. What Are the Key Innovations Transforming the Medical Component Manufacturing Industry?
4. Which Region Is Leading the Medical Component Manufacturing Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Surging Demand For Medical Devices Propels Growth In The Medical Component Manufacturing Market here
News-ID: 3999448 • Views: …
More Releases from The Business Research Company
Company Registration Service Market Landscape 2025: Forecast Data and Growth Str …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Company Registration Service Market Through 2025?
The market size for company registration services has seen robust growth in the recent past. The market is projected to expand from $10.67 billion in 2024 to $11.55 billion in 2025, exhibiting a compound annual growth…
Comprehensive 2025 Commercial Toilet Partition Market Overview: Trends, Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Toilet Partition Market Through 2025?
In recent years, the market size for commercial toilet partitions has significantly expanded. The forecast predicts a rise from $1.82 billion in 2024 to $1.95 billion in 2025, with a compound annual growth rate (CAGR) of…
Key Trends Influencing the Growth of the Commercial Insurance For Small And Medi …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Commercial Insurance For Small And Medium-Sized Enterprises (SMEs) Market Through 2025?
The market size of commercial insurance for small and medium-sized enterprises (SMEs) has seen substantial growth over the recent years. A rise from $111.83 billion in 2024 to $119.76 billion in…
Growing Focus On Reducing Greenhouse Gas Emissions Driving The Market Growth Due …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Is the Expected CAGR for the Combustion Emissions Analyzer Market Through 2025?
In the past few years, the market size for combustion emissions analyzer has seen robust growth. It is projected to increase from $1.02 billion in 2024 to $1.09 billion in 2025, with a compound annual growth…
More Releases for Component
Global Avionics Component Market Size by Application, Type, and Geography: Forec …
According to Market Research Intellect, the global Avionics Component market under the Aerospace and Defense category is expected to register notable growth from 2025 to 2032. Key drivers such as advancing technologies, changing consumer behavior, and evolving market dynamics are poised to shape the trajectory of this market throughout the forecast period.
The avionics component market is experiencing robust growth, primarily fueled by the rising demand for advanced navigation and communication…
Electrical Component Labels Market
Electrical Component Labels Market Overview
Electrical component labels are specialized labels used to identify, track, and provide essential information about electrical components and equipment in various applications, including industrial settings, electrical panels, control cabinets, and electronic devices. These labels are crucial for safety, maintenance, troubleshooting, and compliance purposes.
This report provides a deep insight into the global Electrical Component Labels market covering all its essential aspects. This ranges from a macro overview…
Cold Cast Elastomers Market Analysis: An In-Depth Exploration of Two-Component a …
The Cold Cast Elastomers Market is witnessing significant growth driven by advancements in processing technologies and the increasing demand across various industries. Cold cast elastomers, known for their versatility and durability, are typically processed using two-component or three-component systems, which enhance their performance characteristics. These elastomers find extensive applications in industrial settings due to their excellent abrasion resistance and mechanical properties.
𝗚𝗲𝘁 𝗙𝗿𝗲𝗲 𝗦𝗮𝗺𝗽𝗹𝗲 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗥𝗲𝗽𝗼𝗿𝘁 𝗖𝗼𝗽𝘆:
https://www.factmr.com/connectus/sample?flag=S&rep_id=2918
In the automotive and transportation…
Semiconductor Graphite Component Market 2023
The report presents detailed information regarding the prominent players and potential competitors in the Semiconductor Graphite Component market. It includes comprehensive insights into their worldwide presence, economic performance, strategies, upcoming product releases, research and development initiatives, and a SWOT analysis. Additionally, the report analyses revenue share and contact details for each player.
This comprehensive report aims to evaluate and forecast the market size for Fuel Monitoring Systems. It analyses revenue, growth…
Polyurethane Sealants by One-Component and Two-Component Type
Polyurethane sealants have become indispensable in various industries and construction projects, thanks to their exceptional sealing properties, adhesion strength, and durability. They are available in two primary formulations: one-component and two-component types, each offering distinct advantages to meet the demands of diverse applications.
Download Free Sample PDF @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=1074035
One-component polyurethane sealants are pre-mixed formulations that are ready for use straight from the container. They are renowned for their ease of application,…
Battery Management System Market Is Expected To Witness Faster Growth Throughout …
Acumen Research and Consulting has announced the addition of the "Battery Management System Market” report to their offering.
The Battery Management System Market Report 2018 is an in depth study analyzing the current state of the Battery Management System Market. It provides brief overview of the market focusing on definitions, market segmentation, end-use applications and industry chain analysis. The study on Battery Management System Market provides analysis of China market covering…
