Rising Prevalence Of Diseases Encouraging Medical Device Manufacturers To Outsource Production

By Author: Pramod Kumar
Total Articles: 97
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The World Health Organization (WHO) estimates that nearly 1,000,000 people in India and around 173,000 children in Bangladesh are severely or moderately burnt every year. Further, the organization states that over 808,000 children below the age of 5 were killed by pneumonia in 2017. It also reports that approximately 9.3 million cancer-related deaths and 4.1 million respiratory-disease-related fatalities are recorded each year. This grim scenario reflects an extensive requirement for affordable treatment, owing to which medical device manufacturers are outsourcing their production.

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Outsourcing different phases of manufacturing to different contract manufacturing organizations (CMOs) reduces the development time for novel products. Additionally, the distribution of production rights quickens the manufacturing process and results in the development of cost-effective medical devices.

Additionally, the surging ...
... adherence to quality standards by CMOs will encourage more medical device manufacturers to outsource production, as regulatory compliance hastens the approval and launch of their products. Besides, the increasing need for the swift marketing of products is inspiring manufacturers to engage CMOs in the production of entire Class I, Class II, and Class III devices, as well as their electronics and raw materials/components.
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In recent years, companies such as Cardinal Health Inc., Nortech Systems Incorporated, Sanmina Corporation, TE Connectivity Ltd., Onex Corporation, Plexus Corp., Integer Holdings Corporation, West Pharmaceuticals Services Inc., and Heraeus Holding GmbH have engaged in providing outsourcing services, such as prototype development, finished device manufacturing, testing and certification, and assembly and packaging, to medical device manufacturers. Currently, they are focusing on collaborations and product portfolio expansions to offer their services to more customers.

According to P&S Intelligence, North America accounted for the largest share in the medical device outsourcing market in 2016 due to the presence of umpteen medical device manufacturers in the region, who are making efforts to increase the availability of such products. Whereas, the Asia-Pacific (APAC) market is expected to demonstrate the fastest growth in the forecast years owing to the availability of less-expensive infrastructure and labor as compared to the developed nations.

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.