The present and near future for medtech contractors will rely on specific strategies such as tiered partnerships and consolidation, an emphasis on speed, and owning therapeutic and technology spaces.
Andrew Potter, Bonifacio Consulting Services, and Christopher DelporteIn the first article in this series, we examined some of the important trends during the last 10–15 years that have reshaped the medical device contract manufacturing sector. In that time, the outsourcing market has increased its bottom line, grown its product offerings and capabilities and significantly improved its value proposition.
Once an amalgam of individual firms of varying sizes and engineering specialties, the number of contract manufacturing companies has continued to shrink, and consolidate capabilities. They’ve evolved from a network of individual and often overlapping suppliers into a model that emphasizes a trusted and critical manufacturing partnership.
As the beginning of the third decade of the 2000s approaches, the industry-altering forces of the past 15 years have coalesced and sharpened to create a very different marketplace for outsourced medtech manufacturing, one that continues to grow, but offers a new set of challenges and opportunities for contract manufacturers and their OEM partners.
Here are a few of the prevailing trends impacting medtech contract manufacturing today and in the near future.