U.S. Medical Sector Contract Electronic Manufacturing Market Forecast to 2023; Nortech System Inc., TE Connectivity Co, Forefront Medical and More

The U.S. Medical Sector Contract Electronic Manufacturing Market is expected to grow at CAGR 8.8%. The various factors that drive the growth of the market include economics of production and trade, economies of scale, and various others. However technological advancements such as growing power of processing, substitution of 2D with 3D and even 4D to enable greater resolution and real time images in high-clarity ultrasonography is the most critical driving factor. The advent of positron emission tomography (PET) is expected to revolutionize as it enables the study of metabolic processes in the body. There also is an increasing trend to incorporate analytics in the medical electronics devices which we believe will lead to a matrix of connected healthcare delivery. However there are few factors that hamper the market that include high cost of labour, issues of standardization and interoperability and others.

The U.S. medical sector contract electronics manufacturing market has been evaluated as a growing market and it is expected that the market will touch middle single digit growth figures in future.

Original design manufacturing services is the most lucrative segment which offers advantages such as rise in total ownership of the final product, maintenance and future development of in-house skills and technology etc. Outsourced design manufacturing (ODM) would be the next logical step for any medical sector contract electronic manufacturer.

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Key Players:

The major participants of this market are: Benchmark Electronics, Inc., Flex Ltd. Celestica Inc., Jabil Circuit Inc., Sanmina Corporation, Nortech Systems Inc., TE Connectivity Corporation, Forefront Medical Technologies and others.

Regional Analysis:

U.S. market for medical sector contract electronic manufacturing is divided between its regions such as south, west, north east and mid-west. The south region dominate the U.S. followed by and northeast. The various regions have different capabilities in the manufacture as well as demand of medical sector electronics.

Medical sector contract electronic manufacturing companies are concentrated in regions having support of other high tech industries, such as microelectronics and biotechnology. The U.S. medical sector contract electronics sector is highly fragmented with approximately 75% of companies in the United States consist of fewer than 50 employees, and many especially start-up companies operates in niche market.

U.S. medical sector contract electronic manufacturing companies are highly on innovations and technology. R&D spending represents a high percentage of medical sector contract electronic manufacturing industry expenditures, averaging approximately 7 to 9 % of revenue from 2010 to 2015 which makes it one of the top investors in R&D as compared to other industries such as automotive, defense, telecom etc. The industry relies heavily upon the innovative ecology of the United States including microelectronics, telecommunications, instrumentation, and software development. Collaborations and partnerships are another hallmark of the medical sector contract electronic manufacturing industry with both industries and academic universities.

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