Global Medical Component Manufacturing Market Growth 2024, Forecast To 2033
8 Mar, 2024
The medical component manufacturing market projects growth from $13.29 billion in 2023 to $14.19 billion in 2024, with a CAGR of 6.7%. By 2028, it's set to reach $18.37 billion, with a CAGR of 6.7%. Personalized medicine and automation drive this, alongside trends like sustainable processes and AI integration.
Global Medical Component Manufacturing Market Key Driver
The rising demand for medical devices is driving growth in the medical component manufacturing market. Increased demand for medical devices necessitates the production of components, driving market growth. For instance, the FDA reported a significant increase in approved medical devices, driving market growth.
Get A Free Sample Of The Global Medical Component Manufacturing Market ReportGlobal Medical Component Manufacturing Market Segments
The medical component manufacturing market covered in this report is segmented –
1) Process:Forging, Metal Injection Molding, 3D Printing, Ceramic Injection Molding, Investment Casting, Plastic Injection Molding, Other Processes
2) Service:Device Development And Manufacturing Services, Quality Management Services, Final Goods Assembly Services
3) Application:Laparoscopy, Pulmonary, Urology And Gynecology, Cardiovascular, Orthopedic, Oncology, Neurovascular, Radiology, Other Applications
By Geography: The countries covered in the medical component manufacturing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the medical component manufacturing market in 2023. 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
Major Medical Component Manufacturing Industry Players
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.
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Medical Component Manufacturing Market Overview
Medical component manufacturing refers to the production of individual components or parts used in manufacturing medical devices, instruments, and equipment used in healthcare. It manufactures components for various medical applications, such as surgical instruments, implantable devices, diagnostic equipment, and others.