Global Outsourced Orthopedic Manufacturing Market 2016-2020
About Outsourced Orthopedic Manufacturing
An orthopedic implant is a device used in replacement procedures for the hip, spine, knee, and other extremities such as the shoulder, wrist, elbow, and ankle, or for supporting a damaged bone. Orthopedic devices are segmented into three types: implants, instruments, and cases and trays. The orthopedic devices market is highly competitive, and hence, many OEMs are focusing on R&D, distribution, marketing and sales, and post-sales services. Orthopedic contract manufacturers provide surgical instruments, implants, and supply chain capabilities to customers in the orthopedic industry.
Technavio’s analysts forecast the global outsourced orthopedic manufacturing market to grow at a CAGR of 7.5% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global outsourced orthopedic manufacturing market for 2016-2020. To calculate the market size, the revenue generated from the outsourcing of the following product manufacturing categories is considered:
Technavio Announces the Publication of its Research Report – Global Outsourced Orthopedic Manufacturing Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Outsourced Orthopedic Manufacturing Market: Tecomet, Orchid, Paragon Medical and Greatbatch
Other Prominent Vendors in the market are: Accellent, Autocam Medical, Bradshaw Medical, Blades Technology, Hammill Medical, Forginal Industrie, LISI MEDICAL, LAB Medical Manufacturing, Medin, Marle, NORMAN NOBLE, Norwood Medical, Ortho-Precision, PM Machine, Invibio, IN'TECH MEDICAL, Tegra Medical, and Willemin-Macodel.
Commenting on the report, an analyst from Technavio’s team said: “M&A helps contract manufacturers to obtain new technologies that complement existing manufacturing solutions and also help in restructuring and diversifying services. The market is saturated with the presence of many vendors. Greatbatch Medical, Orchid Orthopedic Solutions, Paragon Medical, and Tecomet are some of the leading vendors in the market that focus on acquiring small vendors to survive the competition.”
According to the report, OEMs are under increased cost burden because of high competition and high prices of raw materials. Also, insurance companies and hospitals pressurize OEMs in terms of pricing. To survive in the competitive environment, many orthopedic device manufacturers adopt outsourcing to minimize development cost and shorten their product development time by decreasing the time to market.
Further, the report states that increased adoption of in-house manufacturing by OEMs will hinder the growth of the outsourced orthopedic manufacturing market.
Tecomet, Orchid, Paragon Medical, Greatbatch, Accellent, Autocam Medical, Bradshaw Medical, Blades Technology, Hammill Medical, Forginal Industrie, LISI MEDICAL, LAB Medical Manufacturing, Medin, Marle, NORMAN NOBLE, Norwood Medical, Ortho-Precision, PM Machine, Invibio, IN'TECH MEDICAL, Tegra Medical, Willemin-Macodel.
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