News By Tag
News By Location
Follow on Google News
Global MedTech CMO market valued at $53.6 billion in 2021, is growing at a consistent CAGR of 5%
The global MedTech CMO Market is driven by increased outsourcing and continued growth in MedTech market.
Medi-Tech Insights' report on MedTech CMO market analyses the global market with respect to end-market segments, geography, technologies and materials.
Based on our research, the global 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, USA 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 Market 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.
"Undoubtedly, Covid-19 has 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 few large players and over 300 small, mid-size companies.
Jabil, Flex Corporation, Integer Corporation, Tecomet, TE Connectivity, Gerresheimer are the key players operating in MedTech CMO market, capturing less than 25% of the market. The MedTech CMO market is highly fragmented with presence of large number of regional/local small, mid-size companies operating in niche technologies or markets.
Get Detailed and Customized Report on MedTech CMO Market @ https://meditechinsights.com/