Global EMS provider market for the Medical Device Industry poised for high growth

Research and Markets has announced the addition of Frost & Sullivan's new report "Global EMS Provider Market for the Medical Device Industry" to their offering.

This Frost & Sullivan research service titled Global EMS Provider Market for the Medical Device Industry provides an overview of transitioning demands and original equipment requirements for the medical industry. The study covers diversification strategies, analysis of new growth opportunities, product and geographic wise analysis, market dynamics, key selection criteria, and competitive trends affecting growth strategies for the electronic manufacturing service markets in the healthcare vertical. In this research, Frost & Sullivan's expert analysts thoroughly examine the cardiovascular, imaging, endoscopes, patient monitoring, infusion systems, audiology, respiratory, and anesthetic device sectors.

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The escalating demand for healthcare devices, high prevalence of chronic diseases, and the demographics of global ageing are factors propelling demand in the electronic manufacturing service (EMS) provider market for the medical device industry. As medical original equipment manufacturers (OEMs) intensify efforts to create new technologies and next generation devices, they are more open to the idea of outsourcing to EMS providers. This has triggered a wave of opportunities, especially in the diagnostic, patient monitoring, and home care device segments, for EMS providers. "As the relationship between OEM and EMS providers continues to evolve, the latter is taking charge and increasing service offerings to their customers," notes the analyst of this research service. "EMS providers' services include design, testing, new product introduction, manufacturing, assembly, distribution, logistics, and aftermarket services."

The medical industry is growing at rapid speed and demand from orthopedics, cardiovascular, neurology, consumer medical devices, single use devices, optics, respiratory, patient monitoring systems, diagnostic devices, and sensors markets is continuing on an upward trajectory. This has served to stimulate EMS participation within the medical industry, and penetration levels are likely to climb from 11 to 13 percent in the foreseeable future. With opportunities steadily narrowing in traditional markets, EMS providers are beginning to diversify into the medical industry. Despite the fact that penetration levels are lower than other EMS markets right now, the higher margins offered in this arena will ensure that this sector remains a high focus market for EMS providers.

EMS Providers Must Adapt to Subtle Nuances of the Medical Sector for Successful Business Outcomes

OEMs are seeking greater agility and smarter strategies to circumvent disparities between maturing and evolving medical device sectors. "EMS providers are gaining steady traction within the medical industry and the OEM trust factor continues to increase," observes the analyst. "OEMs have become aware of the competitive edge EMS providers can bring, especially in a market scenario overshadowed by increasing price pressures and lowering profit margins; this has opened up new avenues for EMS providers." Cost competitiveness, price margins, consumer pressures, and more recently, economic pressures have forced OEMs to embrace outsourcing. EMS providers offer complete solution suites from sourcing to distribution, enabling OEMs to focus on remaining competitive. Partnering with EMS providers has resulted in the ramping up of efficiency, responsiveness to demand fluctuation, and time to market for OEMs.

EMS providers have proven expertise in design, manufacturing, and supply chain management within the confines of the traditional markets, but most of them are unfamiliar with the business scenario in the medical arena. The medical industry is vastly different in terms of business operations, financial structure, regulatory environment, and stringent quality requirements. Also, the complex nature of the technology, particularly for critical products, involves high costs and dedication. OEMs are seeking EMS providers that can achieve a balance between long-term collaboration and long sales cycle realization. As the dynamics of the market continues to intensify, the onus lies with EMS providers to rise to the occasion and deliver the much needed cutting edge.

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