Liquid injection molding is a complex manufacturing technique used to produce intricate and precise plastic medical devices. The process involves mixing liquid polymers at high pressure and injecting them into molds, where they solidify to form complex three-dimensional parts with a high level of precision. Liquid injection molding is commonly utilized to manufacture medical devices components like connectors, valves, miniaturized implants and prosthetics, surgical instruments, and drug delivery systems that require intricate geometries and tight tolerances. The global liquid injection molding market is estimated to be valued at US$ 10.77 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The increasing adoption of minimally invasive surgical procedures and growth in the medical devices market presents significant opportunities for players in the liquid injection molding market. Liquid injection molding allows manufacturers to precisely miniaturize medical devices and make them suitable for minimally invasive techniques like catheterization and endoscopy. As these advanced procedures gain popularity, they are driving the demand for liquid injection molded components in devices ranging from guidewires and balloon catheters to surgical staplers and implants. Additionally, the rising geriatric population prone to chronic diseases and growing healthcare expenditure in developing nations are increasing the production of medical devices. This growing medical devices industry will continue to fuel the adoption of liquid injection molding for manufacturing the intricate components essential for modern healthcare.
Porter's Analysis
Threat of new entrants: Low capital requirements and technology in the liquid injection molding industry allows new companies to enter the market easily. However, established brand names and intellectual property rights held by large companies create barriers.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. However, customized solutions require long-term relationships with suppliers.
Bargaining power of suppliers: Suppliers of raw materials like polymers have low to moderate bargaining power due to availability of substitute materials and suppliers.
Threat of new substitutes: Threat from new substitutes is moderate as liquid injection molding offers precision and customization not easily replicated by alternate technologies for medical and small electronics parts.
Competitive rivalry: Intense as major players compete on innovation, automation and customer service to gain market share.
SWOT Analysis
Strength: Liquid injection molding provides precise micro details and complex contours in medical devices and electronics parts. Its single-step manufacturing process offers design flexibility at low volumes.
Weakness: High initial investment in automation equipment. Quality control for critical medical applications requires stringent validation protocols.
Opportunity: Growing demand for miniaturized devices and sensors in IoT, wearables and diagnostics is opening new application areas. Bio-compatible materials allow entry into tissue engineering.
Threats: Competition from 3D printing gaining ground for prototyping applications. Stringent regulations on use of certain materials in medical devices.
Key Takeaways
The global Liquid Injection Molding Market Growth is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America dominates the global liquid injection molding market currently due to strong presence of medical device OEMs and electronics giants. Asia Pacific is expected to witness the highest growth over the forecast period led by countries like China, Japan and South Korea. This can be attributed to increasing local manufacturing of small medical devices and low-cost mass production of electronics components in the region.
Key players: Key players operating in the liquid injection molding market are Pfizer, Inc., F. Hoffmann-La Roche Ltd, Takeda Pharmaceutical Company Limited, Regeneron Pharmaceuticals Inc., Sanofi, Amgen Inc. These companies collectively account for over 60% of the global market share. Major players are focusing on developing new bio-compatible materials and automation solutions to strengthen their market position.
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Because of their durability and fine texture, these components may be utilized on any material and are frequently employed by engineers when developing parts for equipment or cars.
The components produced by this technique are typically robust and flexible.The LIDM process has several advantages over other conventional production processes.
This is especially true when developing large-scale components.
It provides a far broader range of options than traditional casting processes.
Transportation, automobile, computing, power generating, and medical industries are examples of these.There are two main reasons why liquid injection molding is so popular as a means of producing precise components.
Furthermore, because the silicone utilized is not extremely volatile, the components may be manufactured in large quantities.Another reason why many firms want to employ this approach is because it is environmentally beneficial.
