Today, medical device original equipment manufacturers (OEMs) are extensively leveraging contract development and manufacturing organizations (CDMOs) to perform recurring manufacturing to benefit from cost efficiencies, streamlined supply chain, and logistical alignment. It also allows medical device OEMs to swiftly deliver commercial products to market while ensuring that all industry requirements are met. On that front, CDMOs are now critical enablers of innovation in medical device manufacturing. While CDMOs offer product innovation by bridging the OEM’s competency gap in new technologies and markets, they accord process innovation by providing sophisticated processing techniques and novel materials combined with quality and scalability.
Notably, cutting-edge technologies such as additive manufacturing (AM) or 3D printing, artificial intelligence (AI), cloud computing, and the internet of things (IoT) are increasingly playing a significant role in the design and development of medical apparatus. For instance, AM or 3D printing is playing a vital role in developing medical devices today. AM eradicates several manufacturing constraints and lessens the production cost for OEMs. At the same time, it aids in designing new features that could benefit both patients and surgeons. 3D printing also lends itself perfectly to bespoke the limited run of products aimed at smaller, less historically profitable groups of patients with unmet needs.
While AI is still a work in progress in the sector, it is expected to drastically improve manufacturing efficiency and reduce risks in the coming years. Many medical device companies have already started using AI applications throughout their manufacturing and supply chain operations. Similarly, there is a significant increase in the number of medical device manufacturers that have started embracing cloud technology, especially with the increasing pressure to improve patient care at lower costs.
At this juncture, there is a variety of materials manufacturing and contract manufacturing companies available in the market that cater to the different needs of the OEMs. To help them choose the company that best fits their requirement, MedTech Outlook has compiled lists of the top 10 materials manufacturing companies and top 10 contract manufacturing companies. The enlisted companies are the frontrunners in the market that provide a wide span of features. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CIOs.
We present to you MedTech Outlook’s, “Top 10 Materials Manufacturing Companies – 2021.”
