The global Medical Component Manufacturing market size is expected to be worth around US$ 20.93 billion by 2030, according to a new report by Vision Research Reports.
The global Medical Component Manufacturing market size was valued at US$ 11.36 billion in 2020 and is anticipated to grow at a CAGR of 5.4% during forecast period 2021 to 2030.
|Market Size||US$ 20.93 billion by 2030|
|Growth Rate||CAGR of 5.4% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Anchor Harvey; Rejointsrl; Nexxt Spine, LLC; 3D Systems, Inc.; Heraeus Holding; Simalex; American Casting Company|
Rising demand for medical devices owing to the prevalence of lifestyle-related diseases and increasing demand for healthcare services and smart devices, such as wearables, are projected to fuel the market growth over the forecast period. There has been a transformation in the methods of treatment and diagnosis with the rising use of wearables and other healthcare equipment at home. Clinicians and doctors receive intelligence from wearables and devices to prevent and monitor diseases and patients avoid unnecessary trips to hospitals.
The rising geriatric population is projected to remain an indirect contributor to market growth. There has been a change in the pattern of the aging population across the globe in the recent past owing to the decreasing levels of fertility and rising life expectancy. This has led to a longer lifespan of people, wherein the share of old people or geriatric population is growing at a rapid pace. As per the United Nations, there are over 727 million people globally who are aged 65 or above as of 2020.
By Process Analysis
Plastic injection molding held the largest revenue share of over 65.0% in 2020. The plastic injection molding process involves the melting of plastics (thermoplastics/thermosetting polymers) to make them malleable.
Advantages of the plastic injection molding process include the ability of the components manufactured using this process to meet regulatory standards and exact specifications of the healthcare industry. The plastic injection molding process is used to develop surgical equipment and parts; housings and casings for laboratory equipment; test tubes, beakers, and other containers; drug delivery equipment and components; and orthopedic products.
The 3D printing segment is projected to remain the fastest-growing segment and achieve double-digit growth over the forecast period. The 3D printing process is used to develop surgical instruments such as hemostats, needle drivers, scalpel handles, medical clamps, retractors, and forceps; customized body parts and prosthetics; orthopedic implants for hips, knees, and wrists; and equipment and instruments.
The forging segment was the second-largest segment in 2020. The forging process prevents wastage, which occurs during the machining process of workpieces that compromises their mechanical strength and results in the formation of sharp edges and burrs in them.
By Regional Analysis
North America held the largest revenue share of over 41.0% in 2020. Increasing investments in healthcare and rising demand for healthcare products in the U.S., Canada, and Mexico are expected to boost the demand for medical component manufacturing in the region.
In the North American market, the U.S. accounted for the largest revenue share of over 86.0% in 2020 and is projected to maintain its lead over the forecast period. The presence of numerous medical device companies in the country is projected to attract significant demand for medical components.
The European market is one of the largest in the world and attracts significant demand for medical products. The total healthcare expenditure in Europe was around USD 2.8 trillion as of 2020 and accounted for a share of nearly 8.3% in GDP.
Asia Pacific is home to seven of the world’s ten most populous countries and accounts for 60% of the global population. Thus, the region is likely to attract significant demand for healthcare products over the coming years.
Nexxt Spine, LLC
3D Systems, Inc.
American Casting Company
Metal Injection Molding
Ceramic Injection Molding
Plastic Injection Molding
The Medical Component Manufacturing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Medical Component Manufacturing market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Medical Component Manufacturing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Component Manufacturing market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Component Manufacturing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Medical Component Manufacturing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Medical Component Manufacturing by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Component Manufacturing market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Component Manufacturing market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Component Manufacturing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Medical Component Manufacturing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Medical Component Manufacturing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Medical Component Manufacturing market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Component Manufacturing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Component Manufacturing market. These factors have benefited the growth of the global market for Medical Component Manufacturing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Component Manufacturing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Medical Component Manufacturing are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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