Contract manufacturing for medical devices is one of the fastest growing segments of the medical device industry. Why? Because in the race to bring new devices to market, device makers from the largest OEMs to small startups have found that it is more efficient to leverage the experience and facilities of outside organizations for device development rather than recruit, hire, and train people and purchase equipment and facilities.
Contract manufacturing organizations (CMOs) continue to refine their operations to better serve the evolving needs of device OEMs. Many firms have focused on developing a core expertise such as extrusion, molding, or machining to serve a multitude of device components and types. The new approach CMOs are adopting a “general contractor” approach, serving as the Tier 1 supplier and partnering with elite firms specializing in specific phases of device development for specific types of devices, driving new efficiencies to further accelerate time to market and improve product quality.