The demand for plastic molded parts in the medical industry has been rapidly increasing, and along with it some great opportunities for molders who are willing and able to produce these types of components. Since the COVID outbreak, the domestic market has grown substantially as we have come to realize it is necessary to be more self-reliant on our own supply chain.
Even if looking beyond the COVID phenomenon, it’s obvious that our country’s healthcare is strongly driven by an aging population and those subsequent illnesses or chronic conditions that can follow this group. Additionally, over 85% of the countries in the world rely on the importing of medical parts, so the prospective marketplace is global.
Professionals in the medical field are depending more and more on the durability, accuracy, cost efficiency, material selection and resistance to contaminants afforded by the use of plastic materials.
Medical injection molding companies are taking advantage of many existing and new categories of plastic items for this market segment. These include medical facility equipment, laboratory items and containers, device housings, prosthetics, implants, orthopedics, drug delivery components and more.
If you have given any thought to expanding into this potentially lucrative territory, there are a few things you should consider:
Are the injection molding machines you are currently using suited for medical molding production?
Do you have enough physical space to devote part (or all) of your overall operation to this venture?
Are you knowledgeable about what would need to be done to your machinery and facility to ensure compliance with FDA regulations and ISO certification?
In many cases, a substantial investment of money, space and time might be required to break into this market. However, along with the associated risks comes the prospect for significant reward. Only a small percentage of molders have the luxury to consider moving into this role, but there are opportunities available for those who can capture the moment before the industry catches up with itself.
Slide was well represented in Detroit at the inaugural Injection Molding & Design Expo on May 25-26. Jeff Lewis, Juan Grino and Betsi Burns brought years of molding expertise to the booth and were able to meet new prospects and generate some quality leads. The 2023 event will take place in Cleveland.
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