Medical Injection Molding Machine Market Size, Share & Trends Analysis Report By Product (Hydraulic, Electric, Hybrid), By Material (Plastics, Metal), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global medical injection molding machine market size was estimated at USD 1.75 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030. The increasing demand for medical disposables, technological developments, and rising plastics usage in healthcare applications are driving the industry growth for medical injection molding machines. The number of hospital visits and hospitalizations has increased manifold since the advent of the COVID-19 pandemic. This has led to an increase in demand for emergency room products, MRI products, drug delivery systems, and surgical devices, among other devices used in hospitals. With the resurgence of the third wave, the demand for medical devices is expected to further witness a rise, thereby driving the industry growth for these machines.

The COVID-19 pandemic has led to the increased demand for this product, which helps save money, operates more efficiently, and has fewer downtimes, among other benefits. In addition, the U.S. is focusing on domestic competitiveness and has prioritized ‘reshoring' of pharmaceutical production to lessen the reliance on China, which is projected to support the country's medical injection molding industry growth.

Technological improvements in injection molding, shorter production cycles, and increased efficiency are altering the new-age injection molding process trends. Molding different raw materials using the injection molding process, as well as a rise in the energy efficiency of injection molding machines, has resulted in the replacement of traditional molding machines in the industry.

Growing public awareness of HAIs, combined with the increasing worries about the transmission of such diseases, is expected to drive the demand for single-use or disposable medical devices. The growing number of collaborations and joint ventures between various participants in the medical device sector is expected to enhance the demand for medical devices around the world, fueling the growth of the MIMM industry.

Manufacturers are focusing on producing this product which can bring down production costs, provide flexibility in production, reduce scrap, have low maintenance, shorten the production cycle times, and is efficient in every way. Electric and hybrid type machines have more demand as compared to hydraulic, as they are cleaner, make less noise, are energy efficient, and showcase higher precision.

Product Insights

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%.

Electric types are favored over hydraulic machines for producing products like heart pump parts, orthopedic devices, custom knee braces, catheters, and fetal heartbeat monitors, among others since they are cleaner in operation. The hybrid machinery segment is estimated to witness growth at a CAGR of 5.7% during the forecast period. The benefits of both electric and hydraulic types are combined in a hybrid type. The clamping force of a hydraulic type is combined with the reduced noise, precision, and efficiency of an electric molding machine, resulting in improved performance for both thick and thin-walled products.

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.

System Insights

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.

Hot sprinter molds are made up of two plates that are heated by a sophisticated structure. This structure keeps liquid thermoplastics at the same temperature as their warming chamber. There are two types of hot sprinters: inside warmed sprinters and distantly warmed sprinters. The hot sprinter framework keeps the material in a liquid state throughout the sprinter method, until it enters the form pit.

On the other hand, the cold runner system segment is likely to grow at a CAGR of 4.0% during the projection period. The use of a cold runner system is based on its benefits such as ease of maintenance and cost-effectiveness; it is suited for a wide range of polymers. This technology is a viable choice because it produces higher-quality parts. As a result of reduced initial investments compared to other systems, the use of cold runner systems is increasing at a rapid pace.

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.

Material Insights

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.

Because of their high metal tolerance, tensile strength, and temperature endurance, engineering-grade plastic resins are useful in the manufacture of medical and pharmaceutical items. Furthermore, they cut waste, weight, and total production costs, consequently adding to the industry growth.

The demand for metals in the manufacturing process is likely to grow at a CAGR of 6.2% during the forecast period. Metal injection molding is 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.

Metal injection molding is a more cost-effective technology than other traditional manufacturing processes since it reduces raw material utilization, labor, and inventory costs. Products made with this method also have higher mechanical qualities when compared to other powder metal components and castings. These goods also have a high sintered density and fine particle size, which should help manufacturers who need components with superior mechanical qualities.

Regional Insights

The Asia Pacific led the market and accounted for 36.5% of the global revenue share in 2021. The healthcare industry in the region is expected to grow at a swift pace, owing to several factors, including aging population and urbanization, improving standards of living, and expanding healthcare infrastructure in countries such as China, India, and Japan.

In North America, rising healthcare costs and an aging population are expected to boost the medical sector. Government authorities are anticipated to invest considerably in healthcare facilities following the COVID-19 epidemic. The increasing use of injection molding to manufacture a variety of parts and components for medical devices is likely to boost industry growth in the coming years.

The European region is likely to grow at a CAGR of 4.3% during the forecast period. The regulatory framework for the medical device sector in Europe is being changed, with the goal of raising medical device safety and performance standards. As a result, during the projection years, demand for high-quality, biocompatible, recyclable, and innovative plastics in medical devices is expected to increase.

Germany is Europe's leading plastic industry. In the healthcare sector, plastic is used to manufacture molded products for the treatment and diagnosis of various diseases. There are several benefits of using plastic in the injection molding process, such as cost reduction and long product life cycle. This is expected to boost the demand for plastic in medical injection molding.

Key Companies & 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.

In 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. On larger screens, the computers have a Keba control with better multi-touch setups.

Some prominent players in the medical injection molding machine market include:

• Sumitomo (SHI) Demag Plastics Machinery GmbH

• ENGEL MACHINERY INDIA PVT. LTD.

• 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.

Medical Injection Molding Machine Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at the global, regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global medical injection molding machine market report based on product, system, material, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Hydraulic

  • Electric

  • Hybrid

• System Outlook (Revenue, USD Million, 2017 - 2030)

  • Hot Runner

  • Cold Runner

• Material Outlook (Revenue, USD Million, 2017 - 2030)

  • Plastics

  • Metals

  • Others

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • France

    • Italy

    • UK

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Australia

  • Central & South America

    • Brazil

    • Argentina

  • Middle East & Africa

    • Saudi Arabia

    • South Africa