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The medical injection molding machines market size is forecast to increase by USD 198.2 million at a CAGR of 2.1% between 2023 and 2028. The market is experiencing significant growth due to several key trends. Productivity improvement is a major driving factor, with the increasing adoption of robotic medical injection molding machines. These robots offer enhanced precision, consistency, and efficiency, reducing production time and costs. Another trend is the increased use of cobots, or collaborative robots, in the injection molding process. Cobots enable human-robot collaboration, improving productivity and flexibility in small-batch production. However, the market faces challenges, including the volatility of raw material prices. The cost fluctuations can impact the profitability of medical injection molding machine manufacturers and end-users alike. Despite these challenges, the market is expected to continue growing, driven by the need for advanced medical devices and the benefits offered by automation in the injection molding process.
The market is experiencing significant growth due to the increasing plastic consumption in the healthcare applications sector. Medical disposable products, including safety syringes, IV components, and diagnostic equipment, are major contributors to this trend. The market is driven by the rising prevalence of cardiovascular disorders, respiratory disorders, and chronic diseases, which require advanced medical technologies for treatment. The medical device industry's shift towards personalized medical solutions and the demand for high-precision parts also contribute to the market's growth. The market for medical injection molding machines is particularly significant in the production of plastic components for medical devices. Plastics such as thermoplastics, elastomers, rubber, and plastics material are widely used in the production of medical devices due to their chemical resistance, sterilization capabilities, and lightweight properties. The market is further boosted by the increasing medicare and Medicaid spending on healthcare and the development of new diagnostic devices and surgical instruments. The use of metals, glassware, and other materials in medical devices is also being replaced by injection-molded processes and medical plastic components to reduce weight and improve functionality.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The plastics segment is estimated to witness significant growth during the forecast period. Medical Injection Molding is a critical process in the production of plastic components for various healthcare applications. The medical disposable products industry, which includes safety syringes, IV components, diagnostic equipment, surgical instruments, and high-precision parts, is a significant consumer of medical injection molded parts.
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The plastics segment was the largest segment and was valued at USD 1.24 billion in 2018. Plastic consumption in this sector is driven by the increasing prevalence of chronic disorders such as cardiovascular diseases and respiratory diseases. The medical device industry's growth is fueled by rising healthcare infrastructure spending, including Medicare and Medicaid, and the adoption of advanced medical technologies. Medical injection molding machines use engineering-grade plastic resins and metals for manufacturing components that require high chemical resistance and precision. Hence, such factors are fuelling the growth of this segment during the forecast period.
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APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Medical Injection Molding is a critical process in the production of plastic components for various healthcare applications, including medical disposable products and advanced medical technologies. The market for Medical Injection Molding Machines is driven by the increasing consumption of plastics in the medical device industry, particularly in the production of medical disposable products for chronic disorders such as cardiovascular diseases and respiratory disorders. The healthcare infrastructure's expansion, fueled by Medicare and Medicaid spending, further boosts the demand for these machines.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Productivity improvement offered by robotic medical injection molding machines is notably driving market growth. Injection molding machines play a crucial role in the production of medical devices and patient aids, utilizing biocompatible polymers such as polyethylene, polypropylene, thermoplastic elastomer, cyclic olefin copolymer, and acrylonitrile butadiene styrene. These machines are essential for manufacturing large volumes of medical equipment, including orthopedic implants, mobility aids, and healthcare devices, using rubber, plastic, metals, glassware, elastomers, and various thermoplastic and thermosetting polymers.
Robotic injection molding machines offer significant advantages in this sector. With hot runner and cold runner systems, these machines ensure high precision and consistency in the injection molding process. The healthcare industry's increasing focus on chronic diseases and patient needs necessitates the production of high-quality medical devices, which is achievable through the use of injection molding machines with robotic systems. Thus, such factors are driving the growth of the market during the forecast period.
Increased use of cobots in injection molding process is the key trend in the market. Injection molding machines play a crucial role in the production of medical devices and patient aids using biocompatible polymers such as rubber, plastic, elastomers, thermoplastic, and thermosetting polymers. These machines are essential in producing medical equipment, including orthopedic implants, mobility aids, and healthcare devices.
The use of advanced systems like Hot Runner and Cold Runner in injection molding machines ensures efficient production of medical devices. The healthcare industry's growing focus on addressing chronic diseases and meeting evolving patient needs has led to an increase in the demand for injection molded plastics in medical applications. Polymers like Polyethylene, Polypropylene, Thermoplastic elastomer, Cyclic olefin copolymer, and Acrylonitrile butadiene styrene are commonly used in the production of medical devices, vaccine introductions, and medical equipment. Thus, such trends will shape the growth of the market during the forecast period.
Volatility of raw material prices in medical injection molding machines is the major challenge that affects the growth of the market. Medical injection molding machines play a crucial role in the production of various medical devices, patient aids, mobility aids, orthopedic implants, and pharmaceutical packaging using biocompatible polymers such as polyethylene, polypropylene, thermoplastic elastomer, cyclic olefin copolymer, acrylonitrile butadiene styrene, rubber, elastomers, thermoplastic, and thermosetting polymers.
The production of these machines involves the use of major raw materials like ethylene, propylene, benzene, and styrene. The price fluctuations of these raw materials, including polymers and resins, have been significant since 2015, with propylene, benzene, and styrene being petroleum and natural gas derivatives. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ams Micromedical LLC: The company offers medical injection molding machines with technologies such as wire EDM with rotary axis and deep hole micro drilling.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is expected to witness significant growth due to the increasing plastic consumption in the healthcare applications sector. The demand for medical disposable products, including safety syringes, IV components, and diagnostic equipment, is on the rise, particularly in the treatment of chronic disorders such as cardiovascular diseases and respiratory disorders. The medical device industry's shift towards advanced medical technologies, such as personalized medical solutions and patient-specific devices, is also driving the market's growth. The market is further increased by the growing healthcare infrastructure and the increasing spending on medicare and medicaid. The adoption of minimally invasive surgeries and the rising trend of medical tourism are also contributing to the market's growth. The use of engineering-grade plastic resins and thermoplastic materials in medical injection molding machines is becoming increasingly popular due to their chemical resistance and high precision. Hybrid machines, hot runner systems, and cold runner systems are also gaining popularity in the market. The market is expected to continue growing due to the increasing demand for medical-grade plastics in the production of high-precision parts for sterilization and the development of new medical devices.
Market Scope |
|
Report Coverage |
Details |
Page number |
133 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 2.1% |
Market growth 2024-2028 |
USD 198.2 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
2.1 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, Japan, Germany, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ams Micromedical LLC, ARBURG GmbH Co KG, BOLE Machinery Inc., DKM MACHINERY CO., LTD, ENGEL Austria GmbH, Haitian International Holdings Ltd., HARBEC, Hillenbrand Inc., Husky Technologies, KraussMaffei Group GmbH, Laszeray Technology, LLC, Proto Labs Inc., Shibaura Machine Co. Ltd., Sumitomo Heavy Industries Ltd., Tederic Machinery Co., Ltd., The Japan Steel Works Ltd., Ube Corp., VEM Tooling Co. Ltd., and WITTMANN Technology GmbH |
Market dynamics |
Parent market analysis, market report , market forecast , Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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