The molded interconnect device (MID) market is projected to witness significant growth by 2027 owing to surging product demand across diverse applications. Moreover, technological upgradation is anticipated to further drive market adoption through the forecast period.
Molded interconnect devices (MIDs) are injection-molded rigid-body thermoplastics. Notably, MIDs are primarily made from recyclable thermoplastics and thus, are more environmentally compatible, which has played a pivotal role in product penetration across the globe.
Three-dimensional molded interconnect device (3D-MID) technology replaces circuit boards by leveraging a 3D circuit on molded plastic, which enables more compact integration of electrical components. Thus, the technology has become vital in medical applications, which has improved market dynamics.
Following the COVID-19 outbreak, there has been a surge in requirement for compact and efficient medical devices to fulfill the unprecedented healthcare demand across the globe. The 3D-MID technology has brought about advancements in patient monitoring, therapy, diagnosis, cardiac devices, rehabilitation, antenna applications, and other areas, which has promoted market development during the pandemic.
Additionally, the advent of Industrial Internet of Things (IIoT) has given rise to the need for shape-adapted solutions in small quantities across numerous applications. MIDs offer colossal potential for creating shape-adapted electronic devices with a high integration density, which has augmented their significance in industrial equipment.
Recently, researchers have been analyzing different methods to make MID production processes more effective and viable, which has been favorable for industry outlook. For instance, in February 2021