The Asia Pacific medical device outsourced manufacturing market is mainly driven by the overall growth of the medical devices market, mainly due to the rising disease prevalence, life expectancy, and geriatric population. Technological advancements have prompted end users to overhaul or update their manufacturing systems. As this is a costly process, they look to outsource contract manufacturing.
The Asia Pacific Medical device outsourced manufacturing market is projected to reach USD 56.2 billion by 2026 from USD 29.3 billion in 2021 and is expected to grow at a CAGR of 13.9% during the forecast period.
Download PDF Brochure :-https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=477468
However, market growth is impeded by the growing consolidation in the medical devices market. To develop their own manufacturing capabilities and save costs, Larger players are focusing on acquiring smaller players and CMOs themselves. This may affect the overall market growth to a certain extent.
The prominent players in the APAC medical device outsourced manufacturing industry are Flex, Ltd. (Singapore), Jabil, Inc. (US), TE Connectivity, Ltd. (Switzerland), Sanmina Corporation (US), Nipro Corporation (Japan), Celestica International (Canada), Plexus Corporation (US), Benchmark Electronics, Inc. (US), Integer Holdings Corporation (US), Gerresheimer Ag (Germany), West Pharmaceutical Services, Inc. (US), Nortech Systems, Inc. (US), Consort Medical PLC (UK), Kimball Electronics Inc. (US), and Teleflex Incorporated (US), Nordson Corporation (US), Tecomet, Inc. (US), SMC Ltd. (US), Nemera (France), and Tessy Plastics Corporation (US), among others.
Jabil, Inc.: The company is a leading player in the market. The company offers a focused range of products and services in the healthcare domain as well as advanced manufacturing technologies. This factor, coupled with its robust presence of manufacturing facilities worldwide, further adds to its value. The company also serves some of the top companies in other domains, which strengthens its brand recognition. Jabil also focuses on collaborating with major pharma and medical device companies for contract manufacturing. In 2018, for instance, the company collaborated with Johnson & Johnson to manufacture medical devices. Through its R&D efforts, the company offers its customers highly automated, continuous flow manufacturing process technologies for precise and aesthetic mechanical components and system assembly. It invested USD 38.5 million, USD 42.9 million, and USD 44.1 million in 2018, 2019, and 2020, respectively.
COVID-19 Impact: The COVID-19 pandemic increased the company’s expenses, primarily related to additional labour costs and the procurement of personal protection equipment for its employees globally. The pandemic also reduced the company’s factory utilization due to travel disruptions and restrictions.
Public- and private-sector policies and initiatives to reduce the transmission of COVID-19, including travel restrictions and quarantines, impacted the company’s operations. This affected its employees’ ability to get to the company’s facilities, thereby reducing capacity utilization levels, causing certain facility or intermittent business closures, and interrupting the movement or increasing the cost of moving components and products through its supply chain. Moreover, travel and business operation restrictions arising from virus containment efforts worldwide also impacted Jabil’s operations in Asia, Europe, and the Americas.
Flex Ltd.: The company provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers worldwide. The company is contracted by some of the major players in the electronics industry. Its expertise in the electronics segment has given the firm an advantage in the medical devices segment. The company has vast operations globally, with 40 manufacturing sites located across the globe. Although the medical devices segment is not its core business, expertise from the electronics market will surely help the company develop innovative products and solutions in the future.
The company focuses on agreements and partnerships to strengthen its service portfolio in the medical devices and other healthcare segments. In October 2018, Flex partnered with Novo Nordisk (Denmark) to develop digital health solutions for diabetes patients. Flex continues to make substantial investments in resources such as research & development, technology licensing, test and tooling equipment, facility expansions, and personnel requirements to create world-class components. Each year, it invests a considerable share of its revenue in the research & development of products to maintain its position in the market.
Request Sample Pages: -https://www.marketsandmarkets.com/requestsampleNew.asp?id=477468
Sanmina Corporation: The company has established itself as a global player with a strong presence in almost 40 countries worldwide. The company focuses on technological advancements by offering diverse electronic medical devices as well as custom medical devices. The company follows changing trends like Industry 4.0 by focusing on automation and cloud-based functioning in its operations. Sanmina also caters to a host of other market segments apart from medical device manufacturing. The company’s R&D expenses were USD 22.6 million, USD 27.6 million, and USD 30.8 million in 2020, 2019, and 2018, respectively. As a percentage of its net sales, the company’s R&D expenses were 0.3%, 0.3%, and 0.4% in 2020, 2019, and 2018, respectively.
コメント