Medical Device Manufacturing: Is There An Increasing Demand?

Contract Manufacturing Is Increasing

Did you know that the market for globally contracted manufacturing of medical devices is expected to increase to $108.6 billion by 2025? Even for people inside the industry, this boom in expected market value comes as a surprise.

So where did this increase in medical device manufacturing come from? And what can we expect from the future of medical device manufacturing??

Discover the answers to all your questions about the rapidly growing demand for medical device manufacturing. This article will provide you with all the information you need and guide you through the process every step of the way. Today business process outsourcing (BPO) has grown to include all sorts of sectors, including services companies like Global Strategic Solutions, LLC here in the Silicon Valley area of California.

Why Is There Increased Demand for Medical Device Manufacturing?

To understand the increased demand for medical device manufacturing, we first need to comprehend why there’s such demand for medical devices in the first place. There are a variety of different reasons for this boom in the market.

First, there are medical needs for specific conditions. A staggering 37.3 million people have diabetes in the United States. As such, it should be surprising that medical devices related to glucose monitoring and insulin release are highly sought after.

Another explanation for the increase in manufacturing demand is the emerging middle class in China and India. As more people begin to be able to afford the access needed for high-quality healthcare, so does the demand for the medical devices that come with this care.?

Robust manufacturing networks will be required to support this influx of new patients. Lastly, regulations make it safer to use new medical devices. While these regulations aren’t great news for manufacturers (they’re more complicated), they drive up customer demand. ?

Related: Medical Device Patents 101

What Challenges Does Medical Device Manufacturing Face?

Medical device companies already face a lot of challenges when it comes to raising money for their products. The industry is complex; there are thin profit margins and changing regulations. ?

While the manufacturing arm of the medical company shares many of these challenges, they also have its unique ones. This section will review some of the problems holding back this manufacturing demand from being met.

1. Complex Software

These days it’s common for patients and medical staff to access medical devices using their mobile devices. The downside is that medical devices need to work well with a wide range of technology. ?

As such, medical devices need to be a collaboration between the software developers and the manufacturers. This collaboration is challenging enough, but the complex nature of the Software and the sensitive information it processes means that it takes quite a long time to complete. ?

2. Strict Regulations

Governing medical device bodies, like the FDA, are laying down strict requirements regarding the design, manufacturing, and operation of these medical devices. If the machines don’t meet these regulations, they will be recalled. ?

While this is good for consumers (it leads to safer products), it presents a challenge for manufacturers. Manufacturers now need to worry about the quality of their raw materials and the sterilization of the medical devices after the manufacturing process. ?

Related: USA FDA Medical Device Safety – The good and the better

Medical devices and the hardware they use is becoming harder to access. Part of the reason for this is supply chain disruptions, many of them leftover from the COVID-19 pandemic. It’s taking manufacturers a lot longer to access the material they need to create medical devices. ?

Curious about the cutting-edge advancements in medical devices? This guide will teach you everything you want to know about them, so check it out.?

What Are the Solutions to These Problems? (Outsourcing)

So how will the medical device industry get over these current problems with manufacturing? There are various solutions, but one stands out above the others for many companies: outsourcing. ?

There’s a good reason why medical device outsourcing marketing is expected to reach $273 billion in value by 2030. It’s estimated that OEMs can reduce their manufacturing costs by as much as 15% when they outsource this form of labor.

What’s more, successful medical device companies are currently outsourcing all of their manufacturing costs. As such, it’s fast becoming the industry standard.

That said, privacy and safety requirements make a compelling case for manufacturing to stay in-house. But for most companies, the bottom line is the main thing that matters.

Related: 3 Medical Device Startups to Look Out For

How Can You Get Medical Device Manufacturing?

The first task you need to do when getting into medical device manufacturing is to define your user needs. This will help you find out which market you should focus on. Next, you should consult with a professional in the industry that can walk you through the intricacies of this complex industry.?

If you need a suggestion, look no further than Global Strategic Solutions. We have extensive experience helping multiple countries with their medical device needs. This is thanks to the variety of different services that we offer.

Want to learn more about how Global Strategic Solutions can help you with technical documentation within your medical device manufacturing? Get in touch, and we’ll walk you through how we can help you.

The Future of Medical Manufacturing

These days, it’s common to see a one-size fits all approach to many types of medical treatments. However, increasingly patients are individualized, craving care that meets their unique circumstances.

Medical device technology has the potential to help meet these individualized care requirements. As such, we can expect the sector for the manufacturing of these devices to continue to grow.

This will happen by searching out new customer bases and income streams. Outsourcing certain manufacturing functions will likely also become much more commonplace. Ideally, there will also be innovations in collaboration and design. We can provide our services in the USA, Asia, Europe, and wherever there are medical device companies! With our help, you can find the quickest and most affordable route to approval.??

David R Rutledge, Pharm.D., FCCP, FAHA

What’s in your strategy??

+1 (630) 846-0350 cell

[email protected]

?