Medical device contract manufacturing (CM) is the system by which the manufacturing company manufactures medical devices and components of medical devices that can be then sold by another company. The product is developed according to the specifications sent by the original equipment manufacturer (OEM) in compliance with ISO:13485 and FDA guidelines.
Market Dynamics:
Increasing prevalence of chronic diseases, growing geriatric population, high demand for medical devices, growing trend of medical device contract manufacturing, and the outbreak of COVID-19 (global pandemic) are major factors expected to drive growth of the global medical device contract manufacturing market over the forecast period.
For instance, in June 2022, Amnovis, a contract manufacturer, and BAAT Medical, medical device service provider, teamed up to offer an innovative and rapid turnaround process for the 3D printed medical devices. Moreover, in May 2022, Biomerics opened 2,000 square feet balloon and balloon catheter center of excellence in Galway. This is Biomerics' first facility in Europe and the second facility outside the United States after Costa Rica.
Key features of the study:
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