Medtech driving strong growth in global micromolding market, says report


Medical applications are driving robust growth in the global micromolding sector, according to a new market report from TechNavio (Elmhurst, IL). The medical segment of the micromolding market is expected to surpass $234 million in revenue by 2018, with overall micromolding growing globally by a compound annual growth rate (CAGR) of 13.5% between 2014 and 2018.

"The global microinjection polymer molding market in the medical and healthcare sector was valued at $120.75 million in 2013, and this is expected to grow at a CAGR of 14.18% during the forecast period," TechNavio analysts told PlasticsToday. Geographically, Asia-Pacific, a largely untapped market for micromolding with pent-up demand for advanced medical technology, will be the fastest growing region for medical micromolding through 2018, according to TechNavio.

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