19 July 2018
Visiongain’ has launched a new pharma report Global Medical Device Contract Manufacturing Market Forecast 2018-2028: Electronic Manufacturing Services, Materials Processing, Finished Products, Medical Diagnostic Devices, Monitoring & Surgical Equipments, Therapeutic Devices.
The global medical device industry is a large, intensely competitive and highly innovative market. The US accounts for the largest share of the market. The industry may be subdivided into various segments based on the therapeutic area that a medical device is aimed at. These include medical devices in sectors such as cardiology, orthopaedic, and wound care among others.
The medical device industry has witnessed significant growth during the past decade, owing to new product launches, an ageing population and geographic expansion. As most of the prominent companies in the industry operate globally, the growth of the industry is highly dependent on the economic conditions prevailing in the international market.
The lead analyst of the report commented “In-house manufacturing of electronic parts by medical device OEMs would require heavy capital investment to produce. The expanding technology and capabilities offered by contract manufacturers has been a major factor in the growth of this market. Medical device companies are facing increased competition coupled with pressures to cut costs and improve the quality of their products. This has coincided with EMS providers improving their capabilities and expertise by offering OEMs a broader array of manufacturing location and services.”
Leading companies featured in the report include Benchmark Electronics, Flextronics, Forefront Medical Technology, Greatbatch, Jabil Circuit, Nortech Systems, TE Connectivity (Creganna Medical), Tecomet (Symmetry Medical), The Tech Group (West Pharmaceutical Services), Vention Medical.
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