DUBLIN--(BUSINESS WIRE )--The "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 has been added to ResearchAndMarkets.com's offering.
The global medical injection molding machine market size is anticipated to reach USD 2.61 billion by 2030. 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.
The demand for testing kits witnessed exponential growth globally, as healthcare authorities attempted to track the spread of the COVID-19 pandemic. This resulted in various companies in the medical devices and pharmaceuticals sectors initiating the production of these kits and ramping up their production capacities to help alleviate testing shortages.
The adoption of different raw materials used in the injection molding process, as well as the rising energy efficiency of injection molding machines, have replaced traditional molding machines. This, in turn, has boosted the demand for automated and energy-efficient injection molding equipment used in the medical industry. The key factors influencing the demand for medical products include availability, awareness, affordability, and adaptability. Increasing demand for better healthcare facilities and the ongoing COVID-19 pandemic has boosted the growth of medical devices manufactured by using injection molding machines.
Manufacturers are focusing on producing injection molding machines that can bring down production costs, provide flexibility in production, reduce scrap, are low maintenance, shorten production cycle times, and are efficient in every manner. This is increasing the demand for electric and hybrid medical injection molding machines.
Key market players are undertaking collaborations and new product launches as sustainable strategies. In April 2021, Tederic Machinery Co. launched the NEO series of electric, hybrid injection molding machines that consists of a new generation of servo pumps. These machines can save up to 80% more energy as compared to hydraulic machines.
Chapter 3. Medical Injection Molding Machine Market Variables, Trends, & Scope
3.2. Penetration & Growth Prospect Mapping
3.5. Medical Injection Molding Machine Market: Market dynamics
3.6. Business Environment Analysis: Medical Injection Molding Machine Market
Chapter 4. Medical Injection Molding Machine Market: Product Estimates & Trend Analysis
4.1. Medical Injection Molding Machine Market: Product Movement Analysis, 2021 & 2030
Chapter 5. Medical Injection Molding Machine Market: System Estimates & Trend Analysis
5.1. Medical Injection Molding Machine Market: System Movement Analysis, 2021 & 2030
Chapter 6. Medical Injection Molding Machine Market: Material Estimates & Trend Analysis
6.1. Medical Injection Molding Machine Market: Material Movement Analysis, 2021 & 2030
Chapter 7. Medical Injection Molding Machine Market: Regional Estimates & Trend Analysis
7.1. Regional Movement Analysis & Market Share, 2021 & 2030
Chapter 8. Medical Injection Molding Machine Market: Competitive Analysis
8.1. Key Players, Recent Developments & Their Impact on the Industry
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900