Trends in Medical Device Contract Manufacturing in 2022

The relationship between Medical Device Original Equipment Manufacturers and CDMO’s has evolved over years. Earlier in many cases the association between the two was very weak & volatile. The trust issues, the cost considerations, and various legal aspects of the process were the key factors for reluctance towards CDMOs.

Post-COVID 19 Contract Manufacturing has become a promising option for global Medtech firms. Data reveals that global medical device contract manufacturing will grow at CAGR of 11.5% to reach USD 113.3 billion in 2026 from existing USD 65.9 billion. The low cost of manpower, high quality innovation led manufacturing and ASEAN countries adopting flexible policies of investment are the key reasons that support the predicted growth rate of CDMOs globally.