“Global Medical Device Contract Manufacturing market set to grow to $115bn by 2022” says Visiongain pharma consultant
19 July 2018
Visiongain’ has launched a new pharma report Medical Device Contract Manufacturing Market Report: 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.
Notes for Editors
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Visiongain is one of the fastest-growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports cusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.
Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.
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