U.S. Medical Sector Contract Electronics Manufacturing Market is Expected to Grow at a CAGR of 10.90% By 2030 Largely Driven By Technological Advancements

Pune, India, December, 2022 /MRFR Press Release/- Market Research Future has a cooked research report on the global U.S. medical sector contract electronics manufacturing market.

Market Highlights

The U.S. medical sector contract electronic manufacturing market is expected to reach USD 7,007.93 Million at CAGR 10.90% by 2030. The various factors that drive the growth of the market include economics of production and trade, economies of scale, and various others. However technological advancements such as growing power of processing, substitution of 2D with 3D and even 4D to enable greater resolution and real time images in high-clarity ultrasonography is the most critical driving factor. The advent of positron emission tomography (PET) is expected to revolutionize as it enables the study of metabolic processes in the body. There also is an increasing trend to incorporate analytics in the medical electronics devices which we believe will lead to a matrix of connected healthcare delivery. However there are few factors that hamper the market that include high cost of labour, issues of standardization and interoperability and others.

The U.S. medical sector contract electronics manufacturing market has been evaluated as a growing market and it is expected that the market will touch middle single digit growth figures in future. The U.S. medical sector contract electronics manufacturing market is expected to grow with CAGR of 10.90% during the forecast period.

Original design manufacturing services is the most lucrative segment which offers advantages such as rise in total ownership of the final product, maintenance and future development of in-house skills and technology etc. Outsourced design manufacturing (ODM) would be the next logical step for any medical sector contract electronic manufacturer.

The major participants of this market are: Benchmark Electronics, Inc., Flex Ltd. Celestica Inc., Jabil Circuit Inc., Sanmina Corporation, Nortech Systems, Inc., TE Connectivity Corporation, Forefront Medical Technologies and others.

Regional Analysis

U.S. market for medical sector contract electronic manufacturing is divided between its regions such as south, west, north east and mid-west. The south region dominate the U.S. followed by and northeast. The various regions have different capabilities in the manufacture as well as demand of medical sector electronics.

Medical sector contract electronic manufacturing companies are concentrated in regions having support of other high tech industries, such as microelectronics and biotechnology. The U.S. medical sector contract electronics sector is highly fragmented with approximately 75% of companies in the United States consist of fewer than 50 employees, and many especially start-up companies operates in niche market.

U.S. medical sector contract electronic manufacturing companies are highly on innovations and technology. R&D spending represents a high percentage of medical sector contract electronic manufacturing industry expenditures, averaging approximately 7 to 9 % of revenue from 2010 to 2015 which makes it one of the top investors in R&D as compared to other industries such as automotive, defense, telecom etc. The industry relies heavily upon the innovative ecology of the United States including microelectronics, telecommunications, instrumentation, and software development. Collaborations and partnerships are another hallmark of the medical sector contract electronic manufacturing industry with both industries and academic universities.

Electronic assembly in the medical industry is characterized by strict regulations to ensure high quality end product which makes the U.S. medical sector contract electronic manufacturing one of the stable ones as its innovative characteristics make it resilient to competition from other nations such as China. Medical sector contract electronic manufacturers have formed strong niches and special relationships with top tier medical original equipment manufacturers (OEMs) which adds to the stabi8lity of the industry in the near future. However the U.S. medical sector contract electronic manufacturing faces strong competition in the lower end segments and their manufacturing is likely to drift to low cost regions in Asia.

Segmentation

U.S. medical sector contract electronic manufacturing market has been segmented on the basis of industry subsectors which comprises surgical appliances and medical instruments, electro-medical apparatus, diagnostics, irradiation apparatuses, dental equipment and supplies.

On the basis of contract service type the market comprises of super electronic manufacturing services, original design manufacturing services.

On the basis of end user; market is segmented into hospitals & clinics, diagnostic centers, academic & research institutes.

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of US Medical Sector Contract Electronics Manufacturing Market Research Report

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