Market Synopsis of U.S. Medical Sector Contract Electronic Manufacturing Market:
The market for U.S. medical sector contract electronic manufacturing is anticipated to reach USD 7,007.93 Million by 2030 at 10.90% CAGR during the forecast period 2022-2030The market for U.S. medical sector contract electronic manufacturing is driven by advantages such as 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, economics of production and trade, economies of scale and focus on core competencies. The market restraints are high cost of labour, issues of standardization and interoperability etc. The significant cuts in Medicare imaging reimbursements and the 2.3 % medical device
excise tax on the manufacturers under the Affordable Care Act has burdened the electronic manufacturers.
Research Methodology Figure 1 U.S. Medical Sector Contract Electronic Manufacturing Market, by Industry Subsectors, 2016 (%)
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
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.
Regional Analysis of U.S. Medical Sector Contract Electronic Manufacturing Market:
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.
Key Players for U.S. Medical Sector Contract Electronic Manufacturing Market:
Some of the key players in 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.
- U.S. medical sector contract electronic manufacturers
- U.S. medical sector contract electronic suppliers
- Private research laboratories
- Research and development (R&D) companies
- Market research and consulting service providers
- Government research laboratories
Sources: Mayo Clinic, Healthline Media, MRFR Analysis