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Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report showing that the materials processing area contract manufacturing for medical device manufacturing will grow from $13.9 billion globally to $25.41 billion by 2011.
“OEM Contract Manufacturing in Medical Devices” reports that the next few years are expected to be lucrative ones for Original Equipment Manufacturers (OEMs) and contract manufacturer companies processing raw materials for medical device companies—especially in niche areas and among OEMs that offer flexibility to move with market changes.
The trend towards the incorporation of outsourced technologies will be particularly prevalent in product areas where biocompatibility is required for the fusion between biotechnology, chemistry, and medical device technologies.
The study shows that the future growth in the medical devices/drugs fusion industry is likely to come in orthopedics and implants as well as in the cardiovascular devices sector, where issues relating to biocompatibility, anti-microbial sterilization, device coatings, and drug release mean that specialist contract manufacturers are likely to be in increasing demand.
Authors of the report state that the medical device industry today is similar to the electronics industry 20 years ago, when around 20% of the cost of manufacturing was outsourced. That number has now risen to an estimated 90%. They also note that in the medical device industry across the mainstream nine market segments, the level of outsourcing of manufacturing costs is currently around 30%. Subsequently, there is considerable room for growth and manufacturing efficiencies to be gained during the next five to ten years.
“OEM Contract Manufacturing in Medical Devices” is a three-volume series focusing on the manufacturers currently servicing global leading brand name manufacturers within the healthcare medical devices sectors. Future reports will define markets for electronic systems and finished medical device products. The report analyses the market in nine therapeutic areas, leading competitors, and current issues and trends affecting the industry.
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