As growth and competition in the medical device market rise, the opportunity to alleviate cost pressures on medical device OEMs will continue to drive growth within this market. Over the past two decades, medical device outsourcing has become a more prominent strategy for original equipment manufacturers (OEMs). To help OEMs meet business schedules on their core products, contract manufacturing is often used as a mean to expedite certain projects.
The lead analyst of the report commented "The available reduced costs of outsourced manufacturing combined with access to the innovation power of CMOs are major drivers behind the decision to outsource manufacturing processes. CMOs are continually striving to gain competitive advantages by offering superior service, value-added experience and expertise at a lower cost."
Leading companies featured in the report include Benchmark Electronics, Inc., Celestica, Inc., Flextronics Internationa Ltd., Forefront Medical Technology, Greatbatch, Inc., Jabil Circuit, Inc., Nortech Systems, Plexus Corp., Sanmina Corporation, TE Connectivity (Cregenna Medical), Vention Medical, West Pharmaceutical Services, Inc., and other companies.