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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 witnessing significant growth due to the increasing demand for plastics and engineering-grade plastic resins in the production of medical devices. The adoption of metal injection molding (MIM) technology in the manufacturing of medical implants from metal materials is also driving market expansion. In addition, the use of robots and Cobots (collaborative robots) is revolutionizing medical device manufacturing by automating complex tasks, improving efficiency, and reducing human error. The introduction of robotic medical injection molding machines is further advancing the industry, offering high precision and speed in the production of intricate medical components. These robots and cobots enhance operational safety, minimize production costs, and enable greater flexibility in the manufacturing process, making them integral to the growing demand for advanced medical devices.
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 machines play a significant role in producing rigid plastic components for the healthcare sector. These machines hold a dominant position in The market. The escalating need for plastic medical devices, particularly in home care facilities and minimally invasive surgeries, is driving the demand for these machines. Engineering-grade plastic resins, such as polypropylene, acrylonitrile butadiene styrene, and high-density polyethylene, are commonly used materials in medical injection molding due to their cost-effectiveness, compatibility, and versatility. Moreover, the integration of advanced technologies like hybrid machines, hot runner systems, and cold runner systems, enhances production efficiency and product quality. Metal injection molding, another variant of injection molding, employs powder metallurgy to produce metal components.
However, the medical tourism industry's growth might slightly impact the demand for plastic medical injection molding machines as some countries offer cheaper labor costs for manufacturing medical devices. In conclusion, the market is expected to expand due to the increasing demand for plastic medical devices, the versatility of plastic materials, and the integration of advanced technologies. These factors, coupled with the cost-effectiveness and compatibility of engineering-grade plastic resins, make medical injection molding machines an indispensable tool in the healthcare industry.
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The plastics segment accounted for USD 1.24 billion in 2018 and showed a gradual increase during the forecast period.
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.
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The market in APAC is experiencing significant growth due to the expanding pharmaceutical and medical equipment industries in developing economies like China and India. Preservation and protection are crucial aspects of the pharmaceutical industry, making medical injection molding machines essential for manufacturing multi-layered packaging solutions. These machines offer enhanced protection during transit, thereby reducing costs related to damage and harmful effects. This demand for medical injection molding machines is expected to increase in the regional packaging industry during the forecast period. In the healthcare sector, personalized medical solutions and patient-specific devices, such as patient aids, mobility aids, and orthopedic implants, are increasingly being produced using medical-grade plastics and biocompatible polymers.
Further, medical injection molding machines are indispensable in manufacturing these products due to their ability to create complex shapes and structures with high precision. The hot runner and cold runner systems used in these machines ensure chemical resistance and consistent product quality, making them ideal for producing healthcare solutions for chronic diseases and other medical needs.
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 the key driver of the market. Injection molding machines play a significant role in the production of medical devices, utilizing materials such as rubber, plastic, metals, glassware, elastomers, and various polymers including thermoplastic and thermosetting. These machines are essential for manufacturing large quantities of injection molded plastics, which are used extensively in the healthcare industry for producing items like vaccine containers, syringes, and medical tubing. Robotic injection molding machines offer numerous advantages, enhancing productivity, speed, safety, and reliability. Robots' ability to maintain consistent speed and precision for extended periods results in increased productivity and efficiency. They also eliminate downtime and ensure uniformity in the production process, leading to standardized products.
Furthermore, the initial investment in robotic injection molding machines offers cost savings through increased productivity, improved quality, and reduced waste. Commonly used polymers in medical injection molding include polyethylene and polypropylene, which provide the necessary durability and flexibility for medical applications.
Increased use of cobots in injection molding process is the upcoming trend in the market. Injection molding machines in the medical industry have witnessed significant growth due to the increasing consumption of plastic in healthcare applications. Medical disposable products, such as safety syringes and diagnostic devices, are major contributors to this market. The medical device industry's focus on producing advanced medical technologies for cardiovascular disorders, respiratory disorders, and chronic conditions has led to an increase in demand for these machines. The healthcare sector's spending on Medicare and Medicaid continues to rise, fueling the market's growth. Cobots, a type of collaborative robots, are increasingly used in injection molding processes due to their cost-effectiveness and versatility.
These machines work in conjunction with human workers, enhancing productivity and ensuring safety. Cobots are equipped with advanced sensor technologies and robot controllers, enabling them to perform tasks with high precision and accuracy. As safety standards become more stringent, companies are investing in improving the safety features of these machines. Cobots' ability to combine the analytical skills and experience of human workers with the productivity of robots makes them an invaluable asset to the medical device manufacturing industry.
The volatility of raw material prices in medical injection molding machines is a key challenge affecting market growth. Medical injection molding machines are essential equipment in various industries, including medical, surgery, pharma, diagnostics, healthcare, and cosmetics. These machines utilize thermoplastic elastomers, cyclic olefin copolymers, and acrylonitrile butadiene styrene as primary materials. The cost of these polymers and resins, derived from ethylene, propylene, benzene, and styrene, can be volatile due to fluctuations in the prices of their raw materials.
For instance, the price of Brent crude oil decreased by approximately 34.4% in 2020 compared to 2019, which impacted the pricing of polyethylene and propylene significantly. As a result, the clamping force required for medical injection molding machines can vary, making it crucial for manufacturers to stay updated on market trends and raw material pricing. In the market, understanding the price fluctuations of these raw materials is essential for businesses to maintain profitability and competitiveness.
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 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 witnessing significant growth due to the increasing demand for medical disposable products in healthcare applications. Plastics, particularly engineering-grade plastic resins and thermoplastics, are widely used in the production of medical components due to their chemical resistance and biocompatibility. The market is driven by the rising prevalence of cardiovascular disorders, respiratory disorders, and chronic diseases, which require advanced medical technologies and personalized medical solutions. The medical device industry is a major consumer of injection molded plastics, with applications ranging from safety syringes and IV components to diagnostic equipment and surgical instruments. The market is also influenced by the growing trend towards minimally invasive surgeries and the increasing adoption of hybrid machines, hot runner systems, and cold runner systems.
Moreover, medical injection molding machines are used to produce high-precision parts for various medical applications, including patient aids, mobility aids, orthopedic implants, and medical devices. The market is further fueled by the increasing healthcare infrastructure spending, both in developed and developing countries, and the growing demand for sterilization-grade plastics and biocompatible polymers. Rubber, metals, glassware, elastomers, and thermosetting polymers are also used in the production of medical components, but injection molded plastics are gaining popularity due to their cost-effectiveness and versatility. The market is expected to continue its growth trajectory, driven by the evolving healthcare needs and the increasing demand for vaccines and pharmaceutical products.
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Market Scope |
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Report Coverage |
Details |
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Page number |
133 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 2.1% |
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Market growth 2024-2028 |
USD 198.2 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
2.1 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 43% |
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Key countries |
US, China, Japan, Germany, and India |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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 |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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