Understanding Key Drivers and Growth Opportunities in the Medical Component Manufacturing Market: Trends and Market Size Insights
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
Which Primary Drivers Are Supporting the Continued Market Growth of theMedical Component Manufacturing Market?
The growth of the medical component manufacturing market is fueled by the escalating demand for medical devices. These devices, which can be software, appliances, machines, articles similar to implants, or instruments, serve various purposes like diagnosing, preventing, treating, and monitoring medical conditions or diseases in humans. The process of medical component manufacturing entails the production of parts such as injection-molded and electronic components which are used in medical devices. For example, the International Trade Administration, a government agency based in the US reported in January 2024, that the medical devices sector experienced growth, with its value increasing from US$ 1,856 million in 2021 to US$ 2,049 million in 2022. Therefore, the burgeoning demand for medical devices is significantly propelling the medical component manufacturing market.
Get Your Free Sample Report Now – Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12550&type=smp
#How Will the CAGR of the Medical Component Manufacturing Market Influence Its Overall Growth by 2034?
The market for medical component manufacturing has seen substantial growth lately. There will be a growth from $14.28 billion in 2024 to $15.17 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.2%. This historic period growth is a result of factors like expansion in pharmaceutical research & development, growth of the healthcare industry, a rise in diagnostic testing demand, chemical industry globalization, and stringent regulatory compliance requirements.
The market size for manufacturing medical components is anticipated to witness robust growth in the upcoming years, surging to $20.22 billion in 2029, with a compound annual growth rate (CAGR) of 7.4%. This growth during the forecast period is credited to the growing demand for personalized medicine, amplified focus on biotechnological research, developments in environmental examinations, the growth of food and beverage industry, and global proliferation of drug manufacturing. Foreseen trends for the forecast period encompass increasing emphasis on green chemistry practices, escalating use of automation in labs, a surge in demand for specialty chemicals, the evolution of sustainable chemical methods, and the incorporation of artificial intelligence into lab workflows.
You can Directly Purchase the Report Here:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12550
How Are Consumer Market Innovations Shaping the Current and Future Landscape of theMedical Component Manufacturing Market?
Prominent firms in the medical component manufacturing market are leaning towards innovative technologies such as metal injection molding technology, effectively improving accuracy and minimizing manufacturing waste. Metal injection molding technology brings together the processes of injection molding and powder metallurgy to achieve intricate and highly accurate metal parts by infusing a blend of metal powder and polymer into a mold. For instance, Biomerics, a medical equipment manufacturing company from the US, introduced its vertically integrated metal injection molding (MIM) services in October 2024. This new Metal Injection Molding (MIM) service is accessible via a Center of Excellence, improving their capacity to fabricate complex, high-efficiency interventional medical equipment.
Who Are the Key Market Players Influencing the Growth of the Corn and Medical Component Manufacturing Industry?
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 Dickinson 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.
Order Your Report Now For A Swift Delivery:
Which Key Market Segments Comprise the Medical Component Manufacturing Market and Drive Its Revenue Growth?
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
Gain Exclusive Market Insights—Customize Your Research Report Today for Fast Delivery!
https://www.thebusinessresearchcompany.com/customise?id=12550&type=smp
Which Regions Are Emerging as Leaders 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
Browse Through More Reports Similar to the Gobal Medical Component Manufacturing Maret 2025, By The Business Research Company:
Medical Lasers Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/medical-lasers-global-market-report
Medical Device Outsourcing Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/medical-device-outsourcing-global-market-report
Medical And Diagnostic Laboratory Services Global Market Report 2024
About The Business Research Company:
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
