Medical Injection Molding Machine Market Size, Share & Trends Analysis Report By Product (Hydraulic, Electric), By System (Hot Runner), By Material (Plastics), By Region, And Segment Forecasts, 2023 - 2030

Medical Injection Molding Machine Market Size, Share & Trends Analysis Report By Product (Hydraulic, Electric), By System (Hot Runner), By Material (Plastics), By Region, And Segment Forecasts, 2023 - 2030

Medical Injection Molding Machine Market Growth & Trends

The global medical injection molding machine market size is anticipated to reach USD 2.61 billion by 2030, registering a CAGR of 4.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing demand for medical injection molding machines can be attributed to the rising need for precision and efficiency in manufacturing medical devices. As the healthcare industry continues to advance, there is a growing requirement for intricate and high-quality components, such as syringes, vials, and other medical equipment. Medical injection molding machines play a crucial role in meeting these demands by offering precise control over the molding process and ensuring the production of consistent and reliable medical products.

The emphasis on sterilization and compliance with stringent regulatory standards further underscores the significance of specialized injection molding machines in the medical sector, driving the surge in their demand. Furthermore, the escalating demand for personalized and complex medical devices, coupled with advancements in materials and design, has led to a greater need for versatile and technologically advanced medical injection molding machines. These machines facilitate the production of intricate geometries and ensure the use of biocompatible materials essential for medical applications. Moreover, the emphasis on cost-effectiveness and scalability in healthcare manufacturing has prompted the adoption of automated and efficient injection molding processes.

As the healthcare landscape evolves, the market is poised for sustained growth, driven by innovation, regulatory compliance, and the ongoing need for high-quality medical devices worldwide. Increasing demand for minimally invasive surgeries has led to the surged demand for plastic injection molding components used in these surgeries. In addition, the U.S. has witnessed a high demand for micro-molding products used to manufacture small medical components such as implants, sensors, micro-optics, and catheter tips. This is also anticipated to contribute to the product adoption in the coming years. Several factors contribute to the growing product demand.

The continuous evolution of medical device technology demands intricate and specialized components, driving the need for advanced injection molding machines capable of producing complex and precise parts. Moreover, the healthcare industry operates under stringent quality and safety regulations. Medical injection molding machines that can consistently meet these standards, ensuring the production of sterile and compliant products, are in high demand. Manufacturers are working on manufacturing injection molding machines that can cut production costs, give flexibility, reduce scrap, require less maintenance, shorten production cycle times, and are efficient in every aspect.

Injection-molded materials are in great demand due to new injection molding methods, such as foam injection molding, co-injection molding, gas-assisted injection molding, and multiple-component injection molding. Injection molding machines are now used in a variety of industries, including medicine, electronics, construction, aerospace, and defense. Key manufacturers in the market are focusing on new product launches, M&As, and expansions to gain a higher industry share. ENGEL, for instance, supplied two 8,000-ton injection molding machines to North America in February 2023. Both the injection molding machine has two 85,000 cm3 injection units that can inject a total shot weight of 122 kg. The massive machines are 29.3 meters in length and 6.4 meters in width. In comparison to the clamping force and shot size, this has a comparatively modest footprint.

Medical Injection Molding Machine Market Report Highlights

• The electric product segment led the market and accounted for a share of 46.6% in 2022. The demand for electric medical injection molding machines has seen a significant upswing in recent years due to the growing need for precision, efficiency, and cleanliness in the medical device manufacturing sector
• These machines, characterized by their advanced electric servo drive systems, offer precise control over the injection process, ensuring the production of intricate and high-quality medical components
• The hybrid product segment is expected to witness a CAGR of 5.7% over the forecast period. The demand for hybrid medical injection molding machines is experiencing a notable rise as the healthcare industry seeks advanced solutions that combine the benefits of hydraulic and electric systems
• Hybrid machines seamlessly integrate the precision of electric servo technology with the power and cost-effectiveness of hydraulic systems, making them well-suited for medical device manufacturing. This hybrid approach enhances energy efficiency, speed, and precision, crucial factors in producing intricate and high-quality medical components
• The hot runner machine segment is expected to witness a CAGR of 5.2% over the forecast period. The demand is driven by the growing manufacturing sector, particularly in industries, such as automotive, electronics, and packaging
• These systems, which facilitate the injection molding process by maintaining a constant temperature in the molds, enhance efficiency, reduce material waste, and improve overall product quality
• The plastics material segment led the market and accounted for a share of 85.0% in 2022. Engineering-grade plastic resins offer high tensile strength, metal tolerance, and temperature resistance, making them advantageous when utilized to make medical and pharmaceutical items. Moreover, they reduce waste, weight, and production costs
• The metal material segment is expected to witness a CAGR of 6.2% over the forecast period. The metal injection molding process uses a combination of thermoplastic and powder metallurgy injection molding. Risk of corrosion, large amount of wastage, and difficulty in producing complicated medical parts are the key factors impeding market growth

Please note The report will be delivered in 4-8 business days upon order notification.