Medical Injection Molding Machine Market Revenue And Growth Rate By 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, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2022 to 2030. The industry is primarily driven by the increased application of plastics in several healthcare products, and technological advancements in the medical industry.

U.S. Medical Injection Molding Machine Market size, by product, 2020 - 2030 (USD Million)

Medical Injection Molding Machine Market Segmentation

Grand View Research has segmented the global medical injection molding machine market based on product, system, material, and region:

Based on the Product Insights, the market is segmented into Hydraulic, Electric, and Hybrid.

  • The electric product segment led the market and accounted for 46.6% of the global revenue share in 2021. Electric machines are digitally controlled, which enables them to operate at a very high speed and accuracy. Independent motors direct everything from injection to extruder to clamping and ejection on electric type, making them extremely efficient. Compared to hydraulic type, these machines require shorter start-up & runtime, while being cleaner, faster, tighter, & offering more repeatable process manufacturing equipment with little waste, resulting in an average energy reduction of roughly 75%.
  • The hydraulic type machines have been around for a long time and are still a very effective method of making medical devices that meet today's industry demands. However, manufacturers are under pressure to make medical devices at a faster rate and lesser cost, which has allowed hybrid injection molding machines to play an increasingly important role in medical device manufacturing.

Based on the System Insights, the market is segmented into Hot Runner and Cold Runner.

  • Hot runner systems led the segment and accounted for more than 56.6% of the global revenue share in 2021. Various advantages provided by these systems include faster cycle time and lower pressure required to drive the molten mixture into the mold cavity, elimination of waste due to the elimination of runners, the housing of larger parts with greater volume of production, and increased uniformity and quality of parts.
  • A cold runner system is a physical tube that is not heated and is used to inject plastic through a sprue. Its mold base is made up of two or three plates. The injection technique employs molten thermoplastic, which is injected into the molds through a nozzle via a sprue. Runners are kept at the same temperature as molds in this system.

Based on the Material Insights, the market is segmented into Plastics, Metals, Others.

  • The plastics material segment led the medical injection molding machine market and accounted for 85.2% of the global revenue share in 2021. Plastic injection molding is a viable approach for producing complex medical products. Medical-grade injection-molded goods are in high demand because they are long-lasting, inherently resistant to pollutants and chemicals, and provide economies of scale to major manufacturing companies.
  • The demand for metals in the manufacturing process is likely to grow at a CAGR of 6.2% during the forecast period. Metal injection moldingis an excellent method for producing delicate, tiny, and precise metal components for the medical industry. The metal injection molding process employs both thermoplastic and powder metallurgy injection molding.

Medical Injection Molding Machine Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East and Africa (MEA)

Market Share Insights

  • April 2021: Tederic Machinery Co. launched a range of injection molding machines, which included all-electric, multi-material, hybrid, and 2-platen models. NEO T, NEO E, NEO Mv, NEO Ms, NEO Ec, and NEO H are the six separate lines of the new machine series.

Key Companies Profile & Market Share Insights

The global market is quite competitive, due to the presence of both international and local producers. To increase industry penetration and fulfill changing technological demands in the medical business, the global medical injection molding machine manufacturers use a variety of methods, such as acquisitions, collaborations, new product developments, and geographic expansion.

Some of the prominent players operating in the global medical injection molding machine market include,

  • Sumitomo (SHI) Demag Plastics Machinery GmbH
  • Husky Injection Molding Systems Ltd
  • Arburg GmbH + Co KG
  • Engel Austria GmbH
  • Milacron MSA
  • HARBEC
  • Metro Mold & Design
  • Proto Labs, Ltd.
  • AMS Micromedical, LLC
  • The Japan Steel Works, LTD
  • KraussMaffei Group
  • UBE Machinery
  • Toshiba Machine Co., Ltd.
  • Wittmann Battenfeld
  • Hillenbrand, Inc.

Order a free sample PDF of the Medical Injection Molding Machine Market Intelligence Study, published by Grand View Research.

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