The Injection Molding Machine Market was valued at USD 16.72 billion in 2017 and is projected to reach USD 19.68 billion by 2023, at a CAGR of 2.9% during the forecast period, as per a report by MarketsandMarkets.
How growing demand from the healthcare industry is an opportunity?
The demand for injection molding machines is growing significantly in the healthcare industry, which is mainly driven by their use in products such as drug-delivery systems for respiratory care and diabetes and improved blood-glucose test strips. These products assist with mobility and convenience of the aging population. Injection molding is generally used to manufacture medical parts in large quantities with consistency. The use of injection molding process helps develop lightweight, durable, and cost-effective medical devices. The injection molding machine market in the healthcare industry is expected to grow, owing to the increased use of disposable and durable medical products. Although injection molded disposable products are majorly used in hospitals, they are also used in over-the-counter products such as permethrin, pyrethrins, and piperonyl butoxide shampoo. Therefore, the growing demand from the healthcare industry offers opportunities for injection molding machine manufacturers.
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Why high heating and hydraulic pressure remains a major challenge?
High heating and hydraulic pressure of injection molding machines are the major challenges for the manufacturers. Injection molding machines work by heating plastic pallets into molten material, injecting the molten plastic into a mold, and then cooling the product. The heating issue takes place when the mold is sealed improperly. As a result, there is improper venting in the injection unit of the machine. On the other hand, hydraulic defects occur when hydraulic fluids contain contaminants, or there is a loss of pressure in the system. The maintenance of hydraulic systems, including regular change out and purification of the fluid is necessary to address these issues.
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