MedTech CDMO Market – Global Outlook & Forecast 2021-2031

MedTech CDMO Market by Application [Drug Delivery & Fluid Management, Cardiovascular, Orthopedics, In-Vitro Diagnostics, Surgery Devices, Respiratory Care and Medical Imaging] – Global Analysis & Forecast 2021-2031

Clairvoyance conducted an in-depth market analysis study of the global MedTech CDMO market. According to the study, the market was valued at ~US$ 58.83 billion in 2020. The market is expected to witness a CAGR of ~11.0% from 2021 to 2031.

The global MedTech CDMO market is mainly driven by cost savings offered by MedTech CDMOs as compared to in-house manufacturing of medical device original equipment manufacturers (OEMs). Technological capabilities, scalability and risk diversification are other key factors driving the MedTech CDMO market.

Increasing prevalence of chronic & infectious diseases, growing geriatric population, growing consolidation - mergers & acquisition, technological advancements, convergence of technology platforms and rising investments are some of the other influencing factors that are augmenting the demand of MedTech contract manufacturing. However, trend of retaining high-value and IP-sensitive technologies in-house by MedTech OEMs, defective device recalls and stringent regulatory framework are likely to hinder the growth of the market to a certain extent. 

Growth in the MedTech CDMO market follows the growth patterns in the medical device industry but is outpacing growth of the device industry as a whole. Intensifying competition in the industry, stringent regulations and effects of a global COVID-19 pandemic has forced device manufacturers to recalibrate their strategies and explore new efficiencies in product design, development, manufacturing and marketing. MedTech companies are adopting strategy of outsourced manufacturing and are shifting their focus on marketing, branding & making products viable. Contract manufacturing provides MedTech companies number of strategic benefits such as curtailed product acquisition cost, efficient & quick product launch, allows them to focus on core competencies and provides access to specialized capabilities.

The MedTech CDMO market is a highly fragmented market and is marked by presence of prominent players such as Jabil, Flex, Integer, Vivify Health, Gerresheimer, Idex Corporation, Philips Medisize/Molex, Viant, Tecomet, TE Connectivity, Plexus, Tegra Medical, Confluent Medical Technologies, Seisa Medical, Celestica, Plexus, Nolato, Nemera, Lisi Medical, RTI Surgical, Heraeus Medical Components, Nordson Medical, Resonetics, Norwood Medical, Flambeau Medical Markets Group, Freudenberg Medical, Cadence, KLINGEL medical metal GmbH, Elos MedTech, Sanmina Corporation, among others.

In recent years, there has been number of merger and acquisition activities amongst prominent players in the industry to be competitive in the market. Prominent players are adopting inorganic growth strategies either to extend their range of services and offer one-stop-shop solution or to enter into another segment/region. Serving as one-stop-shop solution provider allows MedTech CDMOs to manage multiple phases of the product lifecycle and ensure large volume manufacturing with reliable quality, thereby allowing company to stand out among other companies. For instance, in Mar 2020, SHL Medical, a pioneer and technology frontrunner in the self-injection industry acquired Weibel CDS, a medical technology company which offers products & solutions for drug delivery and novel packaging.

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