BRUSSELS, Belgium, March 03, 2022 (GLOBE NEWSWIRE) --
Summary:
Medi-Tech Insights: MedTech CMO market growth is expected to be driven by increased outsourcing and continued growth in MedTech market.
Description:
MedTech Contract Manufacturing Organisations (CMO) market is growing slightly ahead of the underlying growth in MedTech market as a result of increased outsourcing by OEMs and higher growth rates in segments like Drug delivery and Minimally Invasive Surgery.
Medi-Tech Insights’ report on MedTech CMO analyses the market by end-market segments, geography, technologies, materials.
Based on our research, the MedTech CMO market can be split into various end-market related segments like Orthopaedics, MIS, Cardiovascular, Surgical instruments, IVD and other end-market segments. While segments such as Orthopaedics are mature in terms of level of outsourcing, increasing use of robotics, single-use devices are causing higher growth. In terms of geography, United States followed by Germany, UK, Ireland, China, Malaysia and Singapore are some key countries with large presence of MedTech CMO sites. Metals and Polymers contribute to over 75% of the total value of MedTech CMO while injection molding, cutting and machining are the dominant manufacturing techniques used.
Post Covid-19 Trends
Prior to the pandemic, increasing sophistication by CMOs has made large OEMs more comfortable to outsource complete products - this trend is likely to continue. However, OEMs are now increasingly looking at resiliency of their suppliers, their supply chains and potentially looking to consolidate the supplier base to build deeper partnerships with few select suppliers.
“Covid-19 challenged both the OEMs and CDMOs. However, this impact is likely to be short-term and the fundamental trajectory of both the industries is expected to remain on track with long-term gains,” Exec VP, CFO, Leading U.S MedTech CMO
MedTech CMO market is highly fragmented with presence of large and small players
Jabil, Flex Corporation, Integer Corporation, Tecomet, TE Connectivity, Gerresheimer are the large players in MedTech CMO market, capturing less than 25% of the market. The MedTech CMO market is highly fragmented with presence of large, regional/local small, mid-size companies operating in niche markets.
MedTech CMO Market Trends
Sophisticated MedTech CMOs are increasingly focused on offering a complete set of services from design, development to manufacturing and logistics/supply chain management to the OEMs. Design and development capabilities in areas like miniaturization of batteries, data/connectivity, IoT are highly valued by OEMs when looking for strategic partnerships with CMOs. Further, CMOs who have deep knowledge about the end-markets are well placed to spot emerging trends and technologies, in order to differentiate themselves from competitors.
Explore Detailed Insights on MedTech CMO Market @ https://meditechinsights.com/medtech-cmo-market/
About Us:
Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy.
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Ruta Halde,
Medi-Tech Insights
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