According to a research report published by Spherical Insights & Consulting, the Global Medical Injection Molding Market Size is Expected to Grow from USD 21.54 Billion in 2023 to USD 36.43 Billion by 2033, at a CAGR of 5.40% during the forecast period 2023-2033.

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An injection molding machine also referred to as an injection press, is a machine used in the manufacturing of plastic goods. The melted material is injected into a mold utilizing an injection unit and a clamping unit. Metals, glass, candies, elastomers, and thermoplastic and thermoset polymers are among the materials that are frequently injected. The growing prevalence of chronic illnesses and an aging population are the main factors driving the need for precision-molded, high-quality components in the healthcare sector. Increased R&D expenditures and industry technological advancements necessitate that injection-molded parts cool and solidify into the shape of a cavity using a curved screw, and various government initiatives are driving this demand. For instance, the PLI program was launched by the Indian government to encourage the production of medical devices in the country. This program offers manufacturers financial incentives to establish India as a major global center for medical device manufacturing. The market for medical injection molding machines is growing as a result of material selection. Ceramics are utilized in parts like glow plugs and electronic fuel pumps because of their resistance to corrosion and high temperatures, while polyethylene is perfect for wearable technology and prosthetic surfaces. However, the high upfront costs and significant investments associated with medical injection molding machines may impede an organization’s ability to grow, possibly keeping small and medium-sized enterprises from entering the market.

Browse key industry insights spread across 240 pages with 110 Market data tables and figures & charts from the report on the “Global Medical Injection Molding Market Size, Share, and COVID-19 Impact Analysis, By Product (Medical Equipment Components, Consumables, Patient Aids, Orthopedics Instruments, Dental Products, and Others), By System (Hot Runner and Cold Runner), By Material (Plastics, Metals, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.”

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The medical equipment components segment is predicted to grow at the fastest pace through the forecast period.

Based on the product, the medical injection molding market is classified into medical equipment components, consumables, patient aids, orthopedics instruments, dental products, and others. Among these, the medical equipment components segment is predicted to grow at the fastest pace through the forecast period. The changing healthcare industry is driving up demand for advanced medical devices, and injection molding provides an accurate and efficient production process.

The hot runner segment is anticipated to hold the greatest market share during the projected timeframe. 

Based on the system, the medical injection molding market is divided into hot runner and cold runner. Among these, the hot runner segment is anticipated to hold the largest market share during the projected timeframe. Hot runner systems are becoming more and more well-liked because they are effective at creating intricate, high-quality parts with shorter cycle times and lower pressure, especially in the medical sector.

The plastics segment is anticipated to hold the greatest market share during the projected timeframe.   

Based on the material, the medical injection molding market is divided into plastics, metals, and others. Among these, the plastics segment is anticipated to hold the largest market share during the projected timeframe. The accuracy, versatility, and affordability of plastic injection molding make it an essential tool in the healthcare industry for producing intricate designs for medical devices and components.

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Asia Pacific is estimated to hold the largest share of the medical injection molding market over the forecast period.

Asia Pacific is estimated to hold the largest share of the medical injection molding market over the forecast period. The need for sophisticated medical equipment is being driven by the region’s expanding population and healthcare requirements, which is encouraging injection molding technology. The prevalence of chronic illnesses, skilled labor in China and India, and precise manufacturing processes are the main factors propelling the market’s growth.

North America is predicted to have the fastest CAGR growth in the medical injection molding market over the forecast period. The aging population, established healthcare infrastructure, and chronic illnesses are all contributing factors to the rise in demand for medical devices and equipment. The medical injection molding market in North America is being impacted by the United States’ rising per capita healthcare expenditures.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the medical injection molding market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the medical injection molding market include The Rodon Group, Currier Plastics, Inc., D&M Plastics, LLC, Molded Rubber & Plastic Corporation, Metro Mold & Design, ARBURG GmbH, BOLE Machinery, Biomerics, Rutland Plastic, Sumitomo Chemical Co., Ltd., Evco Plastics, C&J Industries, Hillenbrand Inc., Tessy Plastics, and Others.

Recent Development

• In February 2024, the first medical-specific, all-electric injection molding machine was unveiled by Shibaura Machine Co. and was intended to create highly precise medical pipettes. Using a 32-cavity tool, the 110-ton EC110SXIII press molded medical pipettes from HDPE.
• In October 2023, a machine for injection molding was shown to 20/20 Custom Molded Plastics, LLC by Milacron, a significant player in the global plastics technology and processing industry.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the medical injection molding market based on the below-mentioned segments:

Global Medical Injection Molding Market, By Product 

• Medical Equipment Components
• Consumables
• Patient Aids
• Orthopedics Instruments
• Dental Products
• Others

Global Medical Injection Molding Market, By System

• Hot Runner
• Cold Runner

Global Medical Injection Molding Market, By Material

• Plastics
• Metals
• Others

Global Medical Injection Molding Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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