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The U.S. medical sector contract electronic manufacturing market encompasses the outsourcing of electronic manufacturing services by medical device companies to specialized third-party manufacturers.
Growing Demand for Outsourcing: With the increasing complexity of medical devices and the need for advanced technologies, medical companies are turning to contract electronic manufacturers for cost-effective and efficient production.
Regulatory Compliance Requirements: The stringent regulatory requirements in the medical sector necessitate compliance with standards such as ISO 13485 and FDA regulations. Contract manufacturers specializing in the medical sector must adhere to these standards, ensuring the quality and safety of the produced devices.
Market Drivers: Factors driving the growth of the U.S. medical sector CEM market include the increasing prevalence of chronic diseases, technological advancements in medical devices, cost pressures on medical companies, and the trend towards miniaturization and wearable devices.
Specialization and Expertise: Contract electronic manufacturers catering to the medical sector often possess specialized expertise in areas such as cleanroom manufacturing, sterilization processes, and biocompatibility testing, essential for producing medical devices.
Supply Chain Optimization: Outsourcing electronic manufacturing allows medical companies to focus on core competencies such as research, development, and marketing while benefiting from the contract manufacturer's expertise in supply chain management and logistics.
Market Challenges: Challenges in the U.S. medical sector CEM market include navigating complex regulatory landscapes, maintaining quality standards, ensuring intellectual property protection, and managing risks associated with supply chain disruptions.
Technological Advancements: The convergence of technologies such as Internet of Things (IoT), artificial intelligence (AI), and robotics is driving innovation in medical devices, presenting opportunities for contract electronic manufacturers to offer specialized services in these domains.
Geographical Considerations: The geographical proximity of contract manufacturers to medical companies can impact factors such as lead times, shipping costs, and communication efficiency, influencing the choice of manufacturing partners.
Competitive Landscape: The U.S. medical sector CEM market is characterized by a competitive landscape with both large established players and smaller specialized firms vying for market share through differentiation in services, quality, and innovation.
Collaboration and Partnerships: Collaborative partnerships between medical companies and contract manufacturers are becoming increasingly common, allowing for joint research and development efforts, streamlined production processes, and enhanced product innovation.
Market Outlook: The U.S. medical sector CEM market is poised for continued growth driven by factors such as increasing healthcare expenditure, technological advancements, and the trend towards personalized medicine, presenting opportunities for both medical companies and contract manufacturers.
Covered Aspects:
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US Medical Sector Contract Electronic Manufacturing Market Highlights:
U.S. Medical Sector Contract Electronic Manufacturing Market Overview
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 (%)
U.S. Medical Sector Contract Electronic Manufacturing Market Segment Insights
U.S. Medical Sector Contract Electronic Manufacturing Industry Subsectors Insights
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.
U.S. Medical Sector Contract Electronic Manufacturing Contract Service insights
On the basis of contract service type the market comprises of super electronic manufacturing services, original design manufacturing services.
U.S. Medical Sector Contract Electronic Manufacturing End User Insights
On the basis of end user; market is segmented into hospitals & clinics, diagnostic centers, academic & research institutes.
U.S. Medical Sector Contract Electronic Manufacturing Regional Insights
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.
Intended Audience
- 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
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