Manufacture industry medical Products
The Medical Device Manufacturing Industry will continue to grow, supported by the aging baby-boomer population . The industry is driven by factors such as the number of physician visits, the number of adults aged 65 and older, total expenditure on health, federal funding for Medicare and Medicaid, and trade-weighted index. International demand is dependent on favorable exchange rates and a weaker dollar relative to the currencies of trade partners as well as the presence of similar demand factors in those countries as outlined above. There are several factors that impact the industry. Physician visits correlate with hospital use and demand of medical equipment and so a greater number of visits drives demand for medical devices.VIDEO ON THE TOPIC: Lean Medical Instrument Manufacturing Process in KMC Systems Production Cells
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Medical Devices Industry
About 10 years ago, there were a number of notable trends and market forces which began to, once again, change how the medical device manufacturing sector brought its products to market.
The pace of evolution means that industry-watchers are constantly charting trends, trying to stay out in front of the wave. There are plenty of industry-altering forces from which to choose: the expanding role of additive manufacturing in fact, the FDA recently issued a first-of-its-kind guidance for 3-D printing of medical devices , cloud computing, increased supply chain efficiencies — and the list goes on.
Prior to looking forward, however, this article will take a brief look back at a few of the manufacturing, clinical and financial trends in the last 10 years that have led the contract manufacturing space to where we are at the start of In the early s, computer and other industrial outsourcing grew rapidly as companies such as Flextronics International Inc.
Despite the expansion, outsourcing in the medical device sector lagged in market share due to the regulatory nature of the business as well as the inherent risks associated with medical products. There were only a few major players, and a lot smaller highly specialized process-based shops providing unique skills. But, slowly, a more robust medical device outsourcing market and supply chain began to emerge. Companies merging, combining complementary skills in order to secure greater market share, has been one of the major trends in medtech outsourcing in the last decade.
Accellent kicked off one of the largest consolidations in medical device manufacturing. Another defining characteristic of the medical device manufacturing space over the last decade has been companies entering the sector without much prior experience in medical technology, but eager to create a healthcare niche within their business.
Molex is an interesting example of this trend. It focused mostly on consumer electronics, information technology, automotive and other industries. Other large industrials that have moved into medtech manufacturing in the recent past include Freudenberg, Trelleborg, Nordson, Lubrizol and TE Connectivity.
Many other global and broadly diversified manufacturers have been active in medtech mergers and acquisitions but so far have come up short in their bids to assemble market-leading medical device manufacturing portfolios. Medical technology distributors have moved from being simply hospital suppliers to creating a niche as supply chain and healthcare solutions providers.
For example, MedLine Industries has been an active manufacturer in the distributor world for a long time and with many private-label commodity products, many made in Asia with contract manufacturers. However, two of their competitors have made recent moves to significantly add to their own manufacturing capabilities and product portfolios.
With the move to more catheter-based and laparoscopic procedures and the miniaturization of technology in general, the potential of this market will continue for some time to come. For contract manufacturers, it has emerged as a particularly desirable segment to target and attempt to provide a full range of outsourcing capabilities. This demand significantly has changed the complexity of the work for contract manufacturers over the last 10 years.
Not long ago, most contract manufacturers were told what products to manufacture and how. The last 10 years have seen that relationship dynamic shift. Contract manufacturers have created value propositions in being able to provide services from product concept and development, to highly specialized manufacturing and even supply chain management and delivery to the end customer.
Medical device manufacturing probably will never look like the tiered system used in the automotive industry, but some aspects are similar. For example, top suppliers are looked upon as true valued partners that are tightly integrated into the supply chains of the OEM. Top suppliers also are called on to manage other smaller and non-strategic suppliers on behalf of the OEM.
Supply chain management for top contract manufacturers can be a competitive advantage and a sought-after capability for a large medical OEM. OEM consolidation has, in turn, forced consolidation within the contract manufacturing space. Furthermore, as OEMs supply chains get larger through acquisition there is a risk that smaller, less-strategic contract manufacturers will be removed from approved supplier lists.
As a result contract manufacturers turn to mergers and acquisitions to grow, quickly and, ideally, to position themselves as a trusted partner. Over the last five to seven years, private equity investment has had a deep impact on medical device contract manufacturing. Research and development budgets and timelines are under pressure. OEMs are looking to outsource partners to navigate their competitive and more global than ever markets.
The compression of the supply chain has also had an impact. Above we briefly discussed the trend of distributors buying commodity products companies. Check back soon for our next installment.
He has more than 20 years of global manufacturing experience and helps corporate and financial groups maximize the value of their companies for long-term growth and competitive advantage, or for the best possible exit. Christopher Delporte is a journalist, messaging leader and content strategist with more than 20 years of experience.
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TOP 30 MEDICAL DEVICE MANUFACTURERS
Below you will find basic demographic and healthcare market data on China, plus specific information about the medical device and healthcare industries. Overview of medical device industry : China's economic growth is slowing down, but the medical device industry is still on the rise. The Chinese medical device market is buoyed by the increasing demand for high-tech medical device imports to treat chronic and age-related disease. Also, China's 13 th Five-Year Plan prioritizes health and innovation, which will improve prospects for foreign medical device manufacturers. Opportunities in the Chinese market: Chinese medical device manufacturers dominate the domestic market, but they deliver mostly low-tech and mid-range products.
Medical Device Manufacturing Executive Summary
In the coming decades, the field of medical device manufacturing will be put to the test. According to the U. Census Bureau, more than 75 million baby boomers are reaching retirement age in the near future. Now more than ever, healthcare in general will need to find a functional way to accommodate so many late-in-life patients. After all, the U. Medical device manufacturing will play a large, active role in how U. A Goldman Sachs report on medical technology found devices like implantables and other forms of monitoring equipment have the power to lower healthcare costs for both providers and patients.
About 10 years ago, there were a number of notable trends and market forces which began to, once again, change how the medical device manufacturing sector brought its products to market. The pace of evolution means that industry-watchers are constantly charting trends, trying to stay out in front of the wave. There are plenty of industry-altering forces from which to choose: the expanding role of additive manufacturing in fact, the FDA recently issued a first-of-its-kind guidance for 3-D printing of medical devices , cloud computing, increased supply chain efficiencies — and the list goes on. Prior to looking forward, however, this article will take a brief look back at a few of the manufacturing, clinical and financial trends in the last 10 years that have led the contract manufacturing space to where we are at the start of In the early s, computer and other industrial outsourcing grew rapidly as companies such as Flextronics International Inc.
Medical equipment manufacturers in europe. The terms medical instruments and surgical equipment manufacturers are broad, and they fall into the even wider sector of life sciences. Established more than 50 years ago in , we source and distribute pharmaceuticals, medical equipment and consumable supplies to healthcare professionals in over countries.
A Pulse on Quality 4.0 for Medical Device Manufacturing
Medical device and diagnostics manufacturers must continue to introduce new products using specialized product technology, all the while complying with ever-shifting worldwide regulations. Pricing and margin pressure from reimbursement and purchasing practices are driving companies to seek new ways to become more efficient, speed innovation and decrease costs. Critical Manufacturing Augmented MES helps Medical Device manufacturers constantly upgrade process capability and manage capacity and quality, while driving down cost. Innovation is leading to larger medical device portfolios and a large number of smart and personalized products to deliver better outcomes to patients. With this constant flow of new products and configurations coming into production, manual systems risk quality and compliance problems.
Medical Equipment Manufacturing
The medical device manufacturing industry produces equipment designed to diagnose and treat patients within global healthcare systems. Medical devices range from simple tongue depressors and bandages, to complex programmable pacemakers and sophisticated imaging systems. Major product categories include surgical implants and instruments, medical supplies, electro-medical equipment, in-vitro diagnostic equipment and reagents, irradiation apparatuses, and dental goods. The following outlines five structural factors and trends that influence demand and supply of medical devices and related procedures. The aging population, driven by declining fertility rates and increasing life expectancy, represents a major demand driver for medical devices. The U. The elderly account for nearly one third of total healthcare consumption.
Medical device design , as the name suggests, refers to the design of medical devices. Due to the large amount of regulations in the industry, the design of medical devices presents significant challenges from both engineering and legal perspectives. These companies are primarily small-scale operations with fewer than 50 employees. Washington, Wisconsin, and Texas also have high employment levels in the medical device industry. Medical devices are defined by the US Food and Drug Administration FDA as any object or component used in diagnosis, treatment, prevention, or cure of medical conditions or diseases, or affects body structure or function through means other than chemical or metabolic reaction in humans or animals.
The pharmaceutical and medical device industries have undergone significant changes in the last decade as the overall demand for healthcare has expanded. As the market has evolved, manufacturers in both industries have been presented with a fundamental challenge: adjust to a new business environment in an open, forward thinking way to maintain an innovative edge. Despite operating in different industries, pharmaceutical and medical device companies often share a number of similar hurdles in their efforts to adapt to the market.
The medical device manufacturing industry includes the design and manufacturing of instruments that diagnose, monitor, and treat human medical conditions and diseases . This includes electromedical and electrotherapeutic apparatuses, such as magnetic resonance imaging equipment, medical ultrasound equipment, pacemakers, hearing aids, irradiation apparatuses, electrocardiographs and electromedical endoscopic equipment among others . The majority of the products from this industry are used by specialist doctors and in hospitals, medical supply wholesalers and other manufacturing .
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