Micro Injection Molding Medical Devices Market by Material Type (Polyether Ether Ketone (PEEK), Polyvinyl Chloride, Liquid-Crystal Polymers, Silicone, and Others) by Application (Clinical Diagnostic and Testing Devices (Sample Containers, Rapid POC Testing Components, and Others), Therapeutic Devices (IV Set Components, Bio-Absorbable Products, Surgical Components, and Others) and Research Purpose Devices (Laboratory Disposables and Others) and by Region - Size, Share, Outlook and Opportunity Analysis 2018 - 2026

  • To Be Published : Jun 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Micro injection molding process aims to reduce the size of medical devices in the range of few micron or sub-micron range. Products manufactured using this techniques are ultra-precise to produce repetitively and consistently large numbers of micro components with complex shape and better quality at low cost. Micro-molding is used in electronic, biomedical, and industries such as automation and automotive industries.

Medical device has special importance of accuracy in miniature form, in turn increasing the demands of micro injection molding in medical device. In medical industry the size and accuracy plays important role, as it affects its functionality and safety of the device. Micro injection molding medical device are made up of bioabsorbables or thermoplastics. The commonly manufactured medical device using the micro injection molding technique are surgical device, hearing aids, point of care testing devices, catheters, endoscopic devices, other devices used in sequencing and research based on DNA.

Micro Injection Molding Medical Devices Market Dynamics

The designers and manufacturers of the medical industry continuously aim to decrease the size of medical device to micro scale, owing to exponential increase in adoption of minimally invasive surgical procedures to minimize recovery time.

Moreover, manufacturers are focused on bioabsorbable materials, which are easily metabolized over a time period, circumventing the device removal. Such medical intervention include bioabsorbable stents, degradable surgical staples etc. Increasing demands for such biodegradable medical molded device are expected to drive the micro injection molding medical devices market growth.

Moreover, increasing demand for point of care diagnostics in medical industry is expected to fuel micro injection molding devices market growth over the forecast period. Increasing disease prevalence and implementation of point of care diagnostic for rapid diagnostics are expected to drive the micro injection molding medical devices market growth.

Furthermore, to reduce manufacturing cost coupled with enhanced production efficiency, companies launch more advanced machines with higher speed and less resin usage for manufacturing micro injectable molding medical device with more diverse workflow. This product launches are expected to aid the micro injectable molding medical devices market growth.

For instance, in 2018, Freudenberg Medical, the manufacturers of medical device, component, and minimally invasive solution, added ARBURG micro injection modular machine to expand thermoplastic micro injection molding capacities, which produces the small product with more accuracy. Such micro injection molding machine are expected to increase the efficiency of the micro injection molding medical device, thereby boosting the market growth.

However, the dearth of awareness among population for micro injection molding medical devices in emerging and low income economies are the major factor restraining growth of the micro injection molding medical devices market.

Micro Injection Molding Medical Devices Market - Regional Analysis

Regional segmentation of micro injection molding medical devices market by Coherent Market Insights include North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America micro injection molding medical devices market are holding dominant position in the global micro injection molding devices market owing to high adoption rate of medically advanced technique such as minimally invasive surgical procedures and awareness among population regarding such medical device.

Furthermore, Asia Pacific micro injection molding medical devices market are expected to witness fastest growth, owing to increasing medical tourism in this region, in turn increasing adoption and consumption of such medical device. According to the Pacific Prime, 2015, around 10 million patients travel per year for medical treatment in economies such as Singapore and India, owing to high demand for micro injection molding medical devices.

Micro Injection Molding Medical Devices Market – Competitive Analysis

Major players operating in micro injection molding medical devices market include Accu-Mold LLC, SMC Ltd., Makuta, Inc. (a part of Sansyu Group of companies), MTD Micro Molding, Micromolding Solution Inc., Kamek Precision Tools, American Precision Products, Sovrin Plastics, BMP Medical, Stamm AG and PEXCO.

Micro Injection Molding Medical Devices Market Taxonomy

On the basis of material type, the micro injection molding medical devices market is segmented into:

  • Polyether Ether Ketone (PEEK)
  • Polyvinyl Chloride
  • Liquid-Crystal Polymers
  • Silicone
  • Others

On the basis of application, the micro injection molding medical devices market is segmented into:

  • Clinical diagnostic and testing devices
    • Sample Containers
    • Rapid POC Testing Components
    • Others
  • Therapeutic Devices
    • IV Set Components
    • Bio-absorbable Products
    • Surgical Components
    • Others
  • Research Purpose Devices
    • Laboratory disposables
    • Others

On the basis of region, the micro injection molding medical devices market is segmented into:

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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