'The Global Medical Device Contract Manufacturing Revenues Will Reach $95.7bn in 2021' Says visiongain Report
LONDON, November 22, 2011 /PRNewswire/ --
A new report by visiongain, a London-based business information provider, predicts that the global medical device contract manufacturing revenues will reach $95.7bn in 2021. From 2011 to 2021, revenues for this industry will more than double, according to Medical Devices Contract Manufacturing: World Market Prospects 2011-2021, published in November 2011. Electronics manufacturing outsourcing will be the fastest growing segment in the market, driving the contract manufacturer's revenue streams.
The medical device manufacturing industry as a whole is directly dependent on the growth of the medical device industry. Any growth in the medical device market will be directly reflected on the contract manufacturing segment as well. The medical device industry has experienced substantial growth in the past decade owing primarily to changes in patient demographics. In recent years, the market has undergone rapid globalisation which has further strengthened the industry. The economic growth of the BRIC (Brazil, Russia, India and China) nations has fuelled much of this growth due to the expanding middle class population that are able to afford improved medical services. However, the medical device industry was not immune to the recession, and companies operating in this industry continue to face pressures to cut costs to restore the profits that drive product development. As a result, in order to maintain company and industry profitability, medical device companies have had to adopt a variety of cost cutting measures; including the increasingly popular strategy of outsourcing. Activities that can be outsourced include product design, prototyping, manufacturing and supply chain management. The market for manufacturing remains the largest segment in medical device outsourcing.
Hemant Mistry, healthcare industry analyst, says: "Growth of the contract manufacturing market is outpacing that of the device industry as a whole. With the worldwide aging population driving the demand for innovative medical devices, coupled with the intensively competitive environment that drives operating costs higher, OEMs (original equipment manufacturers) will continue to exploit the services offered by contract manufacturers in order to remain competitive."
Visiongain's research also suggests that the world medical device contract manufacturing market is likely to benefit from the medical device excise tax due to come into effect in 2013, as part of the US Healthcare Reform Act. Although the tax does not apply until 2013, OEMs are likely to make outsourcing decisions this year, and are currently sourcing suitable CMs and vendors.
Visiongain predicts that this market will grow rapidly to 2021. The future of the medical device contract manufacturing market appears promising and has significant potential for growth and investment. This new report adds to visiongain's wide range of analytical reports in healthcare and other industry areas.
To view sample pages please click on: http://www.visiongain.com/Report/719/Medical-Device-Contract-Manufacturing-World-Market-Outlook-2011-2021
Table of Contents
1. Executive Summary
1.1 Sector Highlights
1.2 Aims, Scope and Format of the Report
1.3 Chapter Outline
1.4 Research and Analysis Methods
1.5 Glossary of Terms Related to the Report
2. Introduction to Medical Device Contract Manufacturing
2.1 Medical Devices
2.2 Classification of Medical Devices
2.2.1 The US Classification System
2.2.2 The European Classification System
2. 3 Regulation of Medical Devices
2.3.1 The US Approval and Regulation System
2.3.2 The European Approval and Regulatory System
2.4 The Medical Device Industry
2.5 Medical Device Outsourcing
2.6 Medical Device Contract Manufacturing
2.6.1 Reasons for Outsourcing Manufacturing
2.6.1.1 Focusing on Core Competencies
2.6.1.2 Shorter time to Market
2.6.1.3 Tactical & Strategic
2.6.1.4 Lower Fixed Operating Costs
2.6.2 Reasons for Keeping Projects In-House
2.7 Service Agreement
2.7.1 Identifying CMOs
2.7.2 Contractual Agreement
2.7.3 Review of the Quality Manual
2.7.4 Audit and Site Visits
2.8 Final Discussions
2.8.1 Product Requirement Specifications
2.8.2 Term Sheets and Supply Agreements
2.8.3 Project Management
3. The Medical Device Contract Manufacturing Market, 2010-2021
3.1 The Global Medical Device Market, 2010
3.2 Cost of Goods Sold (COGS) for Device OEMs
3.3 Medical Device Outsourcing
3.3.1 Medical Device Outsourcing Segments
3.4 Medical Device Contract Manufacturing Market, 2010
3.4.1 Medical Device Contract Manufacturing Market Segments, 2010
3.5 Growing Demand for Medical Devices will Drive the Contract Manufacturing Market
3.6 Medical Device Contract Manufacturing Market Forecast, 2011-2021
3.6.1 Material Processing
3.6.1.1 Materials Processing Market, 2010-2021
3.6.2 Electronics/ Electronic Manufacturing Services (EMS)
3.6.2.1 Medical EMS Market by Segments, 2010
3.6.2.2 Electronics Outsourcing Market, 2011-2021
3.6.3 Finished Products
4. Leading Contract Manufacturing Organisations in 2011
4.1 A Highly Fragmented Market
4.2 Accellent Inc.
4.2.1 Revenues and Recent Performance Analysis, 2010
4.2.2 Business Capabilities
4.2.3 Asia Expansion
4.3 Flextronics
4.3.1 Revenue and Recent Performance Analysis, 2010
4.3.2 Medical Certification Award Enhances Company Portfolio
4.4 Symmetry Medical
4.4.1 Revenue and Recent Performance Analysis, 2010
4.4.2 Total Solutions Approach
4.4.3 Acquisition of Olsen Medical
4.5 The Tech Group (Part of the West Pharmaceutical Services Company)
4.5.1 Revenues and Recent Performance Analysis, 2010
4.5.2 Focusing on Research & Development
4.6 Greatbatch Inc.
4.6.1 Revenue and Recent Performance Analysis, 2010
4.6.2 Capital Investment will Prompt Future Growth
4.7 Nortech Systems Inc.
4.7.1 Revenue and Recent Performance Analysis, 2010
4.7.2 Nortech Life Sciences
4.7.3 Acquisitions Contributed to 33% Increase in Net Revenues in Q1, 2011
4.8 Other Companies and Services
5. Leading National Contract Manufacturing Markets, 2010-2021
5.1 Breakdown of the World Medical Device Contract Manufacturing Market, 2010
5.2 The U.S Market
5.3 The European Market
5.3.1 Germany and France
5.3.2 Italy
5.3.3 Spain
5.3.4 U.K
5.4 The Japanese Market
5.5 The Indian Market
5.6 The Chinese Market
5.7 Rest of the World
6. SWOT Analysis of the Medical Device Contract Manufacturing Market, 2011-2021
6.1 Contract Manufacturing Industry Trends
6.2 Strengths
6.2.1 Outsourcing on the Rise
6.2.2 Focus on Core Competencies
6.2.3 Access to Specialised Technologies
6.3 Weaknesses
6.3.1 Considerable Risk
6.3.2 Lack of Communication
6.3.3 Highly Fragmented Market
6.4 Opportunities
6.4.1 Globalisation
6.4.1.1 Growth in Asia
6.4.2 Medical Device Excise Tax: An Opportunity for the Contract Manufacturers
6.5 Threats
6.5.1 FDA Changes
6.5.2 Medical Device Excise Tax: A Threat to the OEMs
7. Expert Opinion
7.1 Interview with Marketing Manager, Creganna-Tactx Medical
7.1.1 The Medical Device Contract Manufacturing Industry
7.1.2 Industry Mergers & Acquisitions
7.1.3 Industry Threats
7.1.4 The Future Medical Device Contract Manufacturing Industry
8. Conclusions
8.1 Overview
8.2 Electronic Manufacturing Services will Witness Strong Growth
8.3 Prominent Companies in the Market
8.4 Outsourcing and Offshoring will Become a Strategic Necessity
8.5 Future Outlook and Concluding Remarks
Appendix A
Appendix B
Visiongain report evaluation form
Companies Listed
Accellent
AccuPlace
Advanced Moulding Technologies
Advanced Scientifics
AdvantaPure
ATEK Medical
B. Braun Medical Ltd.
BC Tech Inc.
Benchmark Electronics
Boston Scientific
Centre for Devices and Radiological Health (CDRH)
Cirtech Medical Systems
C&J Industries
Coeur
Cogent Technology
Cogmedix
Creganna-Tactx Medical
Da/Pro Rubber
DTR Medical
DTS Mechelec
Electrochem Medical
Europlaz
Filtertek Inc.
Flextronics
Food and Drug Administration (FDA)
Forefront Medical Technology
Foxconn Vanguard-EMS
Greatbatch Inc.
GW Plastics Inc.
HEI Inc.
Helix Medical
Heraeus Medical
Integrated Biosciences
International Organization for Standardization
IntriMed Technologies
Jabil Circuit
J-Pac
Kimball Electronics Group
Kitron
Medefab
MediConcepts
Medisize
MeKo Medical
Memry
Moog
National Competent Authorities (NCA)
Nortech Systems
Olsen Medical
Orchid Orthopedic Solutions
PCI Limited
Plexus Corporation
Sanbor Medical
Sanmina-SCI Corporation
Sauflon
Secant Medical
SMS Technologies
Sparton
Symmetry Medical
The Electrolizing Corporation of Ohio
The Tech Group
Tricor Systems Inc.
TT Electronics
Vention Medical
Venture Manufacturing Group
Vincent Medical
Wesley-Coe
West Pharmaceutical Services
Winland Electronics
Wytech
To see an exec sum please contact Sara Peerun
Email: sara.peerun@visiongainglobal.com
Tel: +44(0)207-3366100
Web: www.visiongain.com
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