The global medical injection molding machines market size was valued at $685.9 million in 2020, and is projected to reach $1,128.9 million by 2030, registering a CAGR of 4.8% from 2021 to 2030. The medical injection molding machines is used to create products made up of rubber, plastic, and other substances. The manufacturing technique permits large quantities of medical devices to be manufactured. It operates by injecting molten materials into a mound. This is utilized to make thousands of identical components as part of a mass-production process. Metals, glassware, elastomers, and confections are some of the materials utilized in injection molding, although thermoplastic and thermosetting polymers are the most often used. Rubber, plastic, metal, ceramic, and other materials are injected into injection molding machines to make items. The medical injection molding machines are utilized in a wide range of sectors, including automotive, packaging, toy manufacturing, construction, consumer products, and logistics.
The growth of the global medical injection molding machine market is majorly driven by the increase in investment in the industrial sector and the strong demand for injection molded plastics goods in the healthcare sector. Moreover, medical suppliers have discovered that plastic injection molding medical parts, components, and devices are the most cost-effective and efficient ways to achieve the quality and standards they require. Furthermore, to ensure energy efficiency, key companies are creating fully automated injection molding machines for medical applications, which notably contributes toward the medical injection molding machines market growth. For instance, in November 2020, Nissei Plastic launched injection molding machines in the completely electric FVX Series. As a result, the medical injection molding machines market is expected to develop due to increased energy savings from the usage of electric injection molding equipment.
The novel coronavirus has rapidly spread across various countries and regions, causing enormous impact on lives of people and overall community. Originating as a crisis to human health, it now poses significant threat to worldwide trade, economy, and finance. Owing to the continuous lockdown in key global countries, the COVID-19 pandemic has halted the medical injection molding machines business. Key players in medical injection molding machines market can afford a complete lockdown only for a limited period, after which they would have to alter their investment plans. Furthermore, the number of COVID-19 cases is expected to reduce in the near future, as vaccine for COVID-19 has been introduced in the market. This is further expected to lead to re-initiation of injection molding machines companies at their full-scale capacities, which would aid the medical injection molding machines market to recover by the beginning of 2022. After COVID-19 infection cases start to decline, equipment and machinery producers must focus on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new methods of working.
Cyclic olefin copolymer segment is projected to grow at a significant CAGR
One of the major factors boosting the global medical injection molding machines market growth is material selection. High molecular weight, appearance, durability, and relative smoothness of polyethylene make it suitable for the surfaces of prostheses and wearable devices. It is a high-strength, low-cost option. Similarly, polypropylene exhibits enhanced heat resistance, which make it ideal for components that must be sterilized frequently in an autoclave. In addition, it possesses high radiation resistance. Thus, all these factors collectively are expected to provide significant opportunities for the expansion of the global during the forecast period.
However, high initial tooling and machinery costs associated with medical injection molding machines are likely to limit the industry expansion. A big and complicated mold machine, for example, costs approximately $80,000 or more. It further has high maintenance and installation cost associated with it. Furthermore, the availability of alternatives such as 3D printing, urethane casting, and thermoforming acts as a key deterrent of global medical injection molding machines market.
Medical Equipment segment holds dominant position in 2020
The medical injection molding machines market is segmented into material, application, machine type, mode of operation, clamping force, and region. By material, the market is divided into polypropylene, polyethylene, thermoplastic elastomer, cyclic olefin copolymer, acrylonitrile butadiene styrene, and others. The applications covered in the study include surgery, pharma, diagnostics, medical equipment, healthcare, and cosmetics. On the basis of machine type, the medical injection molding machines market is segregated into standard injection molding machine, multi-component injection molding machine, and LSR injection molding machine. Depending on mode of operation, it is categorized into all-electric, hybrid, and hydraulic. As per clamping force, it is fragmented into less than 200 tons force, 200 to 500 tons force, and more than 500 tons force. Region wise, the medical injection molding machines market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Indonesia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
The key companies profiled in the medical injection molding machines market report include ARBURG GmbH + Co KG, BOLE Machinery, China National Chemical Corporation Ltd., ENGEL AUSTRIA GmbH, Haitian International Holding Limited, Husky Injection Molding Systems Ltd., Hillenbrand Inc., Shibaura Machine Co. Ltd., Sumitomo Heavy Industries, Ltd, and The Japan Steel Works, Ltd.
Asia-Pacific holds a dominant position in 2020 and is expected to grow at a significant rate during the forecast period.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current trends and future estimations of the medical injection molding machines market.
- In-depth emerging medical injection molding machines market analysis is conducted by constructing market estimations for key market segments between 2021 and 2030.
- Extensive analysis of the medical injection molding machines market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The medical injection molding machines market forecast analysis from 2021 to 2030 is included in the report.
- The key players within emerging medical injection molding machines market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the emerging medical injection molding machines industry.
Global Medical Injection Molding Machines Market Segments
- Thermoplastic Elastomer
- Cyclic Olefin Copolymer
- Acrylonitrile Butadiene Styrene
- Medical Equipment
By Machine Type
- Standard Injection Molding Machine
- Multi-component Injection Molding Machine
- LSR Injection Molding Machine
By Mode Of Operation
By Clamping Force
- Less than 200 Tons Force
- 200 to 500 Tons Force
- More than 500 Tons Force
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
- ARBURG GmbH
- BOLE Machinery
- China National Chemical Corporation Ltd.
- Haitian International Holding Limited
- Husky Injection Molding Systems Ltd
- Hillenbrand Inc.
- Shibaura Machine Co. Ltd.
- Sumitomo Heavy Industries, Ltd.
- The Japan Steel Works, Ltd.
Medical Injection Molding Machines Market Report Highlights
By Clamping Force
By Machine Type
By Mode Of Operation
Key Market Players
BOLE Machinery, ARBURG GmbH, Husky Injection Molding Systems Ltd, The Japan Steel Works, Ltd.(JSW), Shibaura Machine Co. Ltd., Haitian International Holding Limited, HILLENBRAND INC. (MILACRON HOLDINGS CORP.), Sumitomo Heavy Industries, Ltd., ENGEL AUSTRIA GmbH, CHINA NATIONAL CHEMICAL CORPORATION LTD. (KRAUSSMAFFEI GROUP GmbH)
Highly accurate mass manufacturing of injection molded plastic components is feasible using injection molding machines. Injection molding machines are a cost-effective and efficient way to mass-produce plastic items in huge quantities. Rise in demand for plastic goods throughout the world is propelling the worldwide medical injection molding machines market. Furthermore, surge in demand for injection-molded components from different end-use sectors such as medical and pharmaceutical is driving the market for medical injection molding machines.
Various injection molding machines are being launched by key players with advanced and latest technology for energy saving and mass production in less given time. For instance, in September 2020, ENGEL introduced the new e-speed injection molding machines, which are hybrid machines (2,800 kN). It is used in the production of medical equipment such as thin-walled containers, buckets, and lids.
These new products are more technologically sophisticated and work more efficiently and effectively than their prior product line. Hence, they are extensively employed in several end-user industries.