Cost Savings, Scalability, Technical Capabilities & Risk Diversification Catapults the Global MedTech CDMO Market

The Global MedTech CDMO Market pegged at US$ 58.83 billion (2020) is expected to witness a healthy growth rate of ~11% from 2021 to 2031.

Cost savings offered by MedTech CDMOs as compared to in-house manufacturing of medical device original equipment manufacturers (OEMs) one of the pivotal factors spurring the demand of MedTech CDMOs. Technological capabilities, scalability and risk diversification are other key factors driving the MedTech CDMO market.

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.

Clairvoyance Research conducted an in-depth market analysis study of the global MedTech CDMO market. The study comprehensively analyzes the market from different perspectives and provides granular insights on hot revenue pockets, headwinds & tailwinds impacting the market, quantitative (market size & forecasts) and qualitative analysis on different segments, penetration of MedTech CDMOs, value chain, key technologies, geographic footprint, key strategies and competitive landscape.

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Growing Preference for Outsourced Manufacturing of Medical Devices Set to Drive the Global MedTech CDMO Market

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.

Trend of Industry Consolidation to Further Augment the Growth of Global MedTech CDMO Market

The MedTech CDMO market is characterized by great fragmentation. 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.

Snapshot - Competitive Landscape

The MedTech CDMO market 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.

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