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Growing Demand: The U.S. medical sector CEM market is witnessing a surge in demand due to the increasing need for specialized electronic components and devices in medical equipment.
Technological Advancements: Rapid advancements in medical technology, such as wearable devices, remote patient monitoring systems, and minimally invasive surgical tools, are driving the need for sophisticated electronic manufacturing services.
Regulatory Compliance: Stringent regulatory requirements imposed by agencies like the FDA are influencing manufacturers to partner with CEM providers that have proven track records in compliance and quality assurance.
Customization and Flexibility: Medical device manufacturers are seeking CEM partners that offer customization and flexibility to accommodate the unique requirements of their products, including design modifications and rapid prototyping.
Focus on Quality and Reliability: With patient safety at the forefront, there is a heightened emphasis on quality and reliability in medical device manufacturing, leading companies to prioritize CEM providers with robust quality management systems.
Supply Chain Resilience: The COVID-19 pandemic highlighted vulnerabilities in global supply chains, prompting medical device companies to reassess their manufacturing strategies and consider reshoring or nearshoring partnerships with U.S.-based CEM providers for greater supply chain resilience.
Integration of AI and IoT: The integration of artificial intelligence (AI) and Internet of Things (IoT) technologies into medical devices is driving the demand for CEM services capable of producing smart, connected devices with advanced data analytics capabilities.
Focus on Cost Efficiency: While quality remains paramount, medical device manufacturers are also under pressure to optimize costs. CEM providers offering cost-effective solutions through economies of scale, lean manufacturing practices, and value engineering are increasingly preferred.
Shift towards Outsourcing: As medical device companies look to streamline operations and focus on core competencies, there is a growing trend towards outsourcing non-core manufacturing activities to specialized CEM providers.
Emerging Markets: The U.S. medical sector CEM market is expanding beyond traditional medical device manufacturing hubs, with emerging markets such as telemedicine, point-of-care diagnostics, and personalized medicine driving new opportunities for CEM providers.
Investment in R&D: To stay ahead in a competitive market, CEM providers are investing in research and development initiatives to innovate new manufacturing processes, materials, and technologies tailored to the unique needs of the medical sector.
Partnerships and Collaborations: Collaboration between medical device companies and CEM providers is becoming increasingly strategic, with long-term partnerships aimed at co-development, co-investment, and shared risk mitigation to drive innovation and competitiveness.
US Medical Sector Contract Electronic Manufacturing Market Highlights:
U.S. Medical Sector Contract Electronic Manufacturing Market Overview
Us Medical Sector Contract Electronic Manufacturing Market Size was valued at USD 5.30 Billion in 2023. The Us Medical Sector Contract Electronic Manufacturing industry is projected to grow from USD 6.50 Billion in 2024 to USD 8.20 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 12.87% during the forecast period (2024 - 2032).
The 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
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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