Medical Device Contract Manufacturing Market will reach $49.45BN in 2014

Monday 10 March 2014, Amsterdam

The outsourcing of manufacturing to medical device contract manufacturers has historically been slow on uptake as compared to other industries. There are many reasons that will drive original equipment manufacturers to outsource their manufacturing such as cost cutting pressures, accelerating time-to-market and allow themselves to focus on their core competencies.  The growth of the medical device contract manufacturing market is expected to be driven by the growth of the medical device industry, reimbursement challenges and demand from emerging markets of the Asia-Pacific and Central and South America.

Amy To, a pharmaceutical and medical devices industry analyst, observes: “Medical Device Contract Manufacturing will be an increasingly attractive option for OEMs with high growth during 2014-2024. Medical device companies are rapidly adopting the use of contract manufacturers as a strategic plan to stay ahead in an intensely competitive market space. Although traditional markets such as the US currently dominate the contract manufacturing market, there is increasing movement of facilities to lower cost regions. In order to take advantage of this fast growing sector, contract manufacturers will need to convince customers that they can overcome intellectual proprietary concerns, adhere to stringent quality standards and offer excellent services.”

The electronic manufacturing services (EMS) segment of the market offers the greatest potential for market growth as it currently has low penetration rates in the medical devices market. EMS providers are increasing their service offerings to meet with the growing complexity of needs by their customers.

The new report provides revenue forecast to 2024 for the global medical device contract manufacturing market and leading regional markets. The report also forecasts sales for the submarkets and the total medical device outsourcing market. Additionally, it outlines recent activity from leading companies in the medical device contract manufacturing field and includes 2 exclusive interviews with Cogmedix and Flextronics.

Medical Device Contract Manufacturing: World Market Outlook 2014-2024 & Future Prospects for Leading Companies adds to the range of analytical reports on industries and markets in healthcare.