Medical Overmolding Market is Forecasted to Reach US$ 2.5 Billion in 2030, Says Stratview Research

Stratview Research, a global market research firm, has launched a report on the global Medical Overmolding Market , which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

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Market Statistics:

Market Size in 2024: US$ 1.8 billion

Market Size in 2030: US$ 2.5 billion

Growth (CAGR): 4.8% during 2024-2030

Cumulative Sales Opportunity 2025 to 2031: US$ 15.214 billion

Leading Application Type: Tubing Parts

Leading Material Type: Thermoplastic

Leading Region: North America

Forecast Period: 2024-2030

Trend Period: 2018-2022

Base Year: 2023

Number of Segments Covered: 3

Number of Tables & Graphs: 100+

Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Medical Overmolding Market:

The global Medical Overmolding Market is segmented based on Application type, Material type, and region.

Based on Application Type

• Based on the application type, the medical overmolding market is segmented into; tubing parts, surgical instruments, needle components, medical cables, and others.
• Tubing parts is the demand generator of the market, during the forecast period.
• Tubing parts are used in various medical devices and are integral components of catheters, IV lines, respiratory tubes, and drainage tubes. Versatile, customizable, biocompatible, sterility, and easy to use are some key advantages of tubing components. Overmolding process provides enhanced performance of tubing parts by making them more resistant to wear, abrasion, and environmental factors.

Based on Overmold Material Type

• Based on the overmold material type, the market is segmented into two types; thermoplastic and silicone.
• Thermoplastic is expected to remain the dominant material, whereas silicone is expected to experience faster growth during the forecast period.
• Key thermoplastic materials used as overmold material in the market include thermoplastic elastomers (TPE), polycarbonate (PC), polyethylene (PE), polypropylene (PP), Polyvinyl Chloride (PVC), polyamide, etc.
• Biocompatibility, versatility, durability, ease of processing, and cost-effectiveness, are some key advantages of thermoplastic making them the preferred choice for manufacturing a wide range of medical devices and components.
• Silicone holds a niche share in the market, but it is likely to experience faster growth owing to its exceptional biocompatibility, flexibility, and chemical and thermal stability properties.

To know the most attractive segments, click here for a free sample of the report:

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Which region shows the most promising growth forecast and opportunity?

• The analysis suggests that North America is expected to remain the largest market during the forecast period. This growth outlook is mainly attributed to the following:
• In terms of region medical overmolding market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
• North America is expected to remain the largest market for medical overmolding during the forecast period.
•  Its dominance is bolstered by several key factors, including its advanced healthcare infrastructure, the presence of leading medical device manufacturers, technological innovations, and a strong regulatory environment.

On the other hand, Asia-Pacific is expected to be the fastest-growing region in the coming years. Its growth is driven by growing healthcare expenditure, expanding healthcare infrastructure, a rapidly aging population, and advancements in medical technology. China is the hotspot of the region owing to the rapidly growing Chinese medical device market and continuous investment in healthcare infrastructure and technology.

Medical Overmolding Market Drivers:

Some of the key drivers listed in the report are given below.

• Key factors stimulating the growth of the medical overmolding market include increasing demand for advanced medical devices and equipment, focus on technological advancements including innovation in materials.
• Rising demand for customized and miniaturized medical devices, and advantages of overmolding processes, such as enhanced grip and ergonomics, good durability and longevity, sterilization-friendly, enhanced functionality, and cost efficiency.

Competitive Landscape: Top 10 Companies in the Medical Overmolding Market:

The market is moderately fragmented, with over 20 players. Most of the major players compete on some of the governing factors, including price, service offerings, regional presence, etc. Stratview Research has identified the following companies as the top market players:

·      TE Connectivity

·      Biomerics, LLC

·      Avient Corporation

·      Trelleborg AB

·      Kaysun Corporations

·      Saint-Gobain

What Unique Insights Does This Report Offer?

This report provides comprehensive insights into the Medical Overmolding Market, answering critical questions like

-      How big is the sales opportunity?

-      Which regions offer the best sales opportunities?

-      Which are the most attractive market segments?

-      Which are the top players and their market positioning?

-      How complex is the business environment?

-      What are the factors affecting the market?

For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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Stratview Research is a global market research and consulting firm that highly specializes in IT & telecom, aerospace & defense, chemicals, and a few other industries.

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