Strong demand for medical devices used to treat a wide range of conditions is being driven by an aging population, more chronic illness and greater access to healthcare. To keep up with this demand, medical device original equipment manufacturers (OEMs) are increasingly outsourcing production to contract manufacturers.
In this three-part article, Managing Director Turner Bredrup and Vice Presidents Tyler Bradshaw and Taylor Will—all with the Harris Williams Healthcare & Life Sciences Group—discuss the current dynamics and growth prospects of the medical device contract manufacturing market, and what these mean for prospective buyers.
- The medical device sector is expected to reach $227 billion in revenue by 2025.
- Medical device OEMs rely on contract manufacturing, leading to annual growth of 12%.
- This is creating significant potential for buyers in the medical device contract manufacturing sector, with two main ways to capitalize on those opportunities.