Medical Device and Diagnostic Industry (MD+DI) and strategic alliance partner ITG Market Research, a division of ITG, recently published a landmark study on The Medical Device Outsourcing Landscape: Current & Future Trends, 2013-2018. The study represents the most popular trends, issues, and concerns shared by medical OEM professionals. Completed on December 30, 2012, The Medical Device Outsourcing Landscape Study surveyed 853 respondents from MD+DI magazine's database of medical device professionals about their general outsourcing habits, how those habits may change in the coming years, and the most-important issues and requirements related to contract manufacturing.
"Medical device professionals are faced with an increasingly complex environment, so it was important to pinpoint the most concerning issues that they expect to face during the next five years. For example, we found that approximately 52% of respondents cited regulatory pressures as a factor with which they are greatly concerned," stated Heather Thompson , Editor-in-Chief of MD+DI. "The study also provided in-depth data on the current and future sourcing habits of our core audience."
The survey results reported that in the face of impending adversity, cutting costs and expediting time to market remain paramount for medical device manufacturers. And the majority of OEMs view contract manufacturing as a means of achieving these two objectives. In fact, 62% of respondents concurred that contract services can save cost and time in certain situations, while 29% find them downright essential to reducing costs and time to market.
The survey results also suggest that good vendor relationships are critical to a successful project. Luckily, 65% of medical device manufacturers feel that contract partners meet expectations most of the time. However, digging deeper into these data, the most important aspects of a partnership were also the most challenging.
"As one of the first studies of its kind, The Medical Device Outsourcing Landscape provides a comprehensive view of the medtech industry and the critical role that outsourcing plays," said Jennifer Sturtz Goldstein , Vice President of Research Operations at ITG Market Research. "The key findings in this report provide actionable insights for medical suppliers on how to refocus their resources and create strategies that improve and build their customer service and partner relationships."
For a deeper and more comprehensive look into this insightful study, please click here or contact Becky Roll , Western Regional Sales Manager, UBM Canon MedTech Group, at 310/445-3704 or firstname.lastname@example.org .
For more than 30 years, Medical Device and Diagnostic Industry (MD+DI) has served the industry as the leading source of in-depth news, information and business intelligence. MD+DI's content team offers authoritative perspectives and provides valuable reference on the full range of device industry issues. In addition to peer-reviewed articles by leading experts on specific technology issues, broader features offer overviews of key business, industry, and regulatory topics.
About UBM Canon
UBM Canon LLC, the leading B2B media company dedicated exclusively to the global $3.0 trillion advanced manufacturing sector, helps support the flow of information, commerce and innovation in such sophisticated segments as medical devices and pharmaceutical development. UBM Canon also addresses cutting-edge developments in broader areas of advanced engineering design and manufacturing, and manufacturing processes and packaging. UBM Canon is part of UBM plc (UBM.L) a global provider of media and information services for professional B2B communities and markets.
About ITG MARKET RESEARCH
ITG Market Research specializes in conducting primary research of healthcare professionals for leading pharmaceutical and medical technology companies. ITG is distinguished by highly responsive execution, supported by an in-house, multi-lingual team of project managers, programmers, moderators, and panel recruitment specialists leveraging its proprietary respondent database of hundreds of thousands of physicians, hospital administrators and other professionals across a wide range of disciplines. ITG employs a host of market research methodologies to cover the entire product lifecycle from concept through launch and beyond.
Source: UBM Canon