Medical Component Manufacturing Market Size
| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 16.90 Billion |
| Market Size (2030) | USD 21.67 Billion |
| CAGR (2025 - 2030) | 5.10% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
Medical Component Manufacturing Market Analysis
The Medical Component Manufacturing Market size is estimated at USD 16.90 billion in 2025, and is expected to reach USD 21.67 billion by 2030, at a CAGR of 5.10% during the forecast period (2025-2030).
Medical component manufacturing produces essential parts for medical devices, instruments, and equipment crucial to healthcare. These components serve various medical purposes, from surgical instruments and implantable devices to diagnostic equipment. The market's growth is driven by the rising prevalence of chronic diseases linked to lifestyle changes, leading to long-term health issues and costly treatments.
Common diseases like cancer, heart disease, stroke, diabetes, and musculoskeletal disorders are intensifying healthcare demands. For example, a study in the April 2024 Journal of the American College of Cardiology highlighted 315 million global coronary artery disease (CAD) cases in 2022. Further, as per the same source, Central and Eastern Europe and Central Asia reported the highest age-standardized prevalence at 8,019 per 100,000, while South Asia recorded 2,393 per 100,000. Thus, the surging prevalence of cardiovascular diseases is anticipated to drive the demand for monitoring and therapeutic devices among healthcare professionals and patients, and to meet this escalating demand, the medical equipment supply needs to rise, propelling the growth of the medical component manufacturing market during the forecast period.
The increasing prevalence of lifestyle-related diseases such as hypertension, diabetes, and others and the growing appetite for smart devices, especially wearables, are noteworthy trends. These wearables and home healthcare tools are revolutionizing treatment and diagnostic approaches. They provide clinicians with vital data, enabling disease monitoring and prevention, thus minimizing unnecessary hospital visits. For instance, an article published in the Korean Circulation Journal in December 2023 highlighted the innovative ring-type design and promising accuracy in blood pressure estimation of CART-I Plus device. This positions it as a potential tool for continuous blood pressure monitoring in clinical settings. Such advancements in smart devices reduce hospital visit needs and facilitate remote care. Consequently, this surge in smart device adoption is expected to boost the medical component manufacturing market, pushing for expanded production capacities during the forecast period.
Furthermore, many market players are actively investing in research and development to introduce innovative solutions for broader population access. For instance, in August 2024, UFP Technologies finalized a USD 48 million acquisition of AQF Medical, a medtech component manufacturer. Based in Ireland, AQF Medical specializes in custom-engineered foam and thermoplastic components for medical devices and packaging. Similarly, in June 2024, Freudenberg Medical, a contract development and manufacturing organization (CDMO) for the medical device and biopharma sectors, bolstering its drug-device combination products business, invested USD 50 million in a new production facility for Hemoteq AG in Germany. Such rising investments in upscaling and R&D activities underscore a trend toward technological advancements. Thus, with these advancements, the medical component manufacturing market is poised for growth during the forecast period.
Therefore, the market is set for growth during the forecast period, driven by the escalating burden of chronic diseases and lifestyle disorders, alongside heightened R&D activities for advanced technological solutions. However, the high costs of adopting advanced technologies could limit the studied market's growth, potentially capping its expansion during the forecast period.
Medical Component Manufacturing Market Trends
Plastic Injection Molding is Anticipated to Witness Significant Growth Over the Study Period
Injection molding is a manufacturing process where liquid plastic resin fills a metal mold cavity, cools, and solidifies into a plastic part. This method, favored for its minimal material waste and cost-effectiveness per unit, is primarily used for large-scale production of plastic components. Industries such as medical devices, consumer goods, and automotive find it particularly suitable. The segment is expected to grow significantly in the coming years, driven by the increasing prevalence of lifestyle diseases such as diabetes. This is boosting the demand for medical devices manufactured through the plastic injection molding process due to its versatility, efficiency, and cost-effectiveness.
Plastic injection molding is adept at producing a range of medical devices, from essential components to intricate assemblies, ensuring consistent quality and minimal material waste. Its rapid production capabilities are vital for meeting the stringent demands of the healthcare sector. For instance, a February 2024 article by Jaycon emphasized the clear advantages of plastic injection molding. It noted that using engineering-grade plastics in molding meets industry standards and regulations and enhances patient safety, aligning with United States Food and Drug Administration (FDA) guidelines. Furthermore, these medical plastic components offer easier cleaning, require less finishing than their metal counterparts, and boast contamination resistance. Thus, owing to these advantages, the segment is expected to grow in the upcoming years.
Moreover, advancements in biocompatible plastics and precision molding technologies have broadened its application in crafting essential components for medical devices. For instance, an article published by Slide Products, Inc. in September 2024 highlighted the latest advancements revolutionizing the plastic injection molding sector, from new substances and processes to automation and green initiatives. Advanced materials and composites such as biodegradable polymers, nanocomposites, and recycled materials improve mechanical attributes and are eco-friendly. Thus, as these transformations continue to evolve, they are anticipated to redefine manufacturing processes, presenting new opportunities for businesses and driving the segment's growth.
Thus, owing to the benefits offered and continuous innovations witnessed in plastic injection molding, the segment is anticipated to grow in the forthcoming years.
North America is Expected to Dominate the Market Over the Forecast Period
North America is poised to lead the market during the forecast period, driven by surging demand for medical products and heightened investments in the healthcare sector. The contributing factors include a robust presence of medical device companies, proactive government initiatives bolstering manufacturing capabilities, and relentless technological advancements.
The rising need for medical products increases the demand for medical component manufacturing. For example, a May 2024 article by Prodensa highlighted the economic importance of Mexico's medical device industry. Estimates indicate that the sector contributes 1.5% of the country's total manufacturing gross domestic product (ANAPS). The industry has experienced an annual growth rate of 3% over the past several years. Additionally, Mexico's medical device exports have consistently grown, reflecting the competitiveness of its products and the increasing demand for high-quality medical devices. Therefore, due to the rising need for medical products, the demand for medical component manufacturing is expected to grow significantly in the region.
Furthermore, regional authorities are supporting this growth with significant investments. For example, the Ontario government in Canada has allocated more than USD 140 million through the Regional Development Program, assisting companies such as FluidAI Medical in expanding their operations in the province. Ontario's cumulative investment exceeds USD 122 million, supporting 100 projects under this initiative and attracting over USD 1.3 billion in new investments in the medical technology sector. Consequently, with the government's increasing support to companies providing medical solutions, a surge in medical component manufacturing is anticipated during the forecast period.
Moreover, ongoing technological advancements by key players in the medical component manufacturing market are set to create new growth opportunities during the forecast period. For instance, in February 2024, 3D Systems launched its multi-material, jetted, and monolithic (one-piece) 3D-printed dentures in the United States. The NextDent Jet Denture Teeth replicate the rigidity and aesthetics of natural teeth, while the NextDent Jet Denture Base absorbs impact and offers exceptional break resistance, enhancing comfort and flexibility. These innovations strengthen competitive advantages and encourage market players to increase their research and development efforts to keep pace with technological advancements.
North America's market is set for notable expansion, fueled by surging medical solution demands, bolstered government investments, and a steady stream of product innovations.
Medical Component Manufacturing Industry Overview
The medical component manufacturing market is fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies that hold significant market share and are well known, including SeaskyMedical, Nexxt Spine, LLC, 3D Systems, Inc., Heraeus Group, and Simalex, among others.
Medical Component Manufacturing Market Leaders
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SeaskyMedical
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Heraeus Group
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3D Systems, Inc.
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Jabil Inc.
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TE Connectivity
- *Disclaimer: Major Players sorted in no particular order
Medical Component Manufacturing Market News
- March 2024: Johnson Matthey signed a definitive agreement to sell its Medical Device Components business (MDC) to Montagu Private Equity for USD 700 million on a cash-free, debt-free basis. MDC produces components for medical device manufacturers worldwide, focusing on precious metal alloys and nitinol. It operates manufacturing sites in the United States, Mexico, and Australia, serving a global customer base.
- February 2024: NIPRO invested USD 398 million in establishing a new manufacturing facility in Greenville, North Carolina, United States. This facility will produce advanced medical devices for patients with diabetes, chronic kidney disease, and other renal health issues. NIPRO's products are crucial to the supply chain of life sciences companies, including Novo Nordisk and Lilly, which produce injectable products in North Carolina and beyond.
Medical Component Manufacturing Industry Segmentation
The report's scope covers medical component manufacturing, which comprises various sectors ranging from diagnostic and surgical devices to therapeutic devices such as cardiovascular and diabetes care. Every industry is responsible for manufacturing equipment, tools, and devices vital to healthcare.
The medical component manufacturing market is segmented into process, component type, and geography. By process, the market is segmented into plastic injection molding, metal injection molding, ceramic injection molding, 3D printing, forging, and others. The other processes include nanotechnology, investment casting, and many more. The market is segmented by component type into diagnostic, therapeutic, surgical, and others. The other components include consumables and accessories. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also offers the market size and forecasts for 17 countries across the region. The market sizing and forecasts are made for each segment based on value (USD).
| By Process | Plastic Injection Molding | ||
| Metal Injection Molding | |||
| Ceramic Injection Molding | |||
| 3D Printing | |||
| Forging | |||
| Others | |||
| By Component Type | Diagnostic | ||
| Therapeutic | |||
| Surgical | |||
| Others | |||
| Geography | North America | United States | |
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Italy | |||
| Spain | |||
| Rest of Europe | |||
| Asia-Pacific | China | ||
| Japan | |||
| India | |||
| Australia | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| Middle East and Africa | GCC | ||
| South Africa | |||
| Rest of Middle East and Africa | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Plastic Injection Molding |
| Metal Injection Molding |
| Ceramic Injection Molding |
| 3D Printing |
| Forging |
| Others |
| Diagnostic |
| Therapeutic |
| Surgical |
| Others |
| North America | United States |
| Canada | |
| Mexico | |
| Europe | Germany |
| United Kingdom | |
| France | |
| Italy | |
| Spain | |
| Rest of Europe | |
| Asia-Pacific | China |
| Japan | |
| India | |
| Australia | |
| South Korea | |
| Rest of Asia-Pacific | |
| Middle East and Africa | GCC |
| South Africa | |
| Rest of Middle East and Africa | |
| South America | Brazil |
| Argentina | |
| Rest of South America |
Medical Component Manufacturing Market Research FAQs
How big is the Medical Component Manufacturing Market?
The Medical Component Manufacturing Market size is expected to reach USD 16.90 billion in 2025 and grow at a CAGR of 5.10% to reach USD 21.67 billion by 2030.
What is the current Medical Component Manufacturing Market size?
In 2025, the Medical Component Manufacturing Market size is expected to reach USD 16.90 billion.
Who are the key players in Medical Component Manufacturing Market?
SeaskyMedical, Heraeus Group, 3D Systems, Inc., Jabil Inc. and TE Connectivity are the major companies operating in the Medical Component Manufacturing Market.
Which is the fastest growing region in Medical Component Manufacturing Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Medical Component Manufacturing Market?
In 2025, the North America accounts for the largest market share in Medical Component Manufacturing Market.
What years does this Medical Component Manufacturing Market cover, and what was the market size in 2024?
In 2024, the Medical Component Manufacturing Market size was estimated at USD 16.04 billion. The report covers the Medical Component Manufacturing Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Medical Component Manufacturing Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
