Global MedTech CMO market valued at $53.6 bn in 2021, is growing at a significant rate of 5%, driven by rising outsourcing in MedTech market

The MedTech Contract Manufacturing Organizations (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 MIS (Minimally Invasive Surgery).

Medi-Tech Insights’ latest research 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, 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.

“Renewed focus on growth & freeing up cash to invest in new technologies is driving decisions for outsourcing”- Sr. Director, Strategic Supply Chain, Top 5 MedTech Company

Post-Covid-19 trends include increased focus on resiliency of supply chains, increased outsourcing and consolidation of suppliers

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 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 some of 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 number of regional/local small, mid-size companies operating in niche technologies or markets.

Key market trends include end-to-end services being offered and specialization in emerging technologies

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.

Get Customized Report on MedTech CMO Market @ https://meditechinsights.com/medtech-cmo-market/

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