U.S. Medical Sector Contract Electronic Manufacturing Market Overview
The U.S. medical sector contract electronic manufacturing market size is expected to grow at CAGR 8.8% by 2022. Technological advancements, product development, and economics of production and trade are major factors that drive the growth of the market. However, there are various factors that hamper the market growth such as high cost of labour, structural changes in industry and employment, standardization and interoperability, and others. The advent of positron emission tomography (PET) is expected to revolutionize as it enables the study of metabolic processes in the body.
Key Players in the U.S. Medical Sector Contract Electronic Manufacturing market
Benchmark Electronics, Inc., Flex Ltd. Celestica Inc., Jabil Circuit Inc., Sanmina Corporation, Nortech Systems, Inc., TE Connectivity Corporation, Forefront Medical Technologies and others.
U.S. Medical Sector Contract Electronic Manufacturing Market Key Developments
Strategic approaches adopted help the major players to sustain their growth in the market and develop their business in various geographical areas across the globe. Agreements and collaborations, mergers and acquisitions, and new product launches are various strategies followed by the key players.
Benchmark Electronics, Inc. is a U.S. based company, is involved in providing services for integrated electronics manufacturing services (EMS), engineering and design services, and precision machining services.
The company announced the acquisition of Secure Communication Systems, Inc. a deal of USD 230 million. This agreement is expected to enhance benchmark’s margins and earnings per share
The company announced its expansion in Israel by opening a new design centre in Haifa. This expansion will enhance the companies R&D activities in Israel
The company announced its partnership with iHear Medical that will advance the hearing products of iHear. In this partnership, Flex will serve as the Company’s primary manufacturer and supplier
Sanmina Corporation communications networks, defence and aerospace, industrial and semiconductor systems, medical, multimedia, computing and storage, automotive and clean technology sectors.
The company announced its agreement with Ouraring to develop advanced wearable device for enhancing sleep quality and performance. According to this agreement Sanmina Corporation will provide end-to-end solutions for developing new smart wearable device
The company provides services to wide range of industries that include aerospace, autosport, rail, communication & wireless equipment, defence, medical & healthcare, automotive, oil & gas, marine, sensor solutions and many others.
The company announced the complete acquisition of the Creganna Medical Group; company involved in productions of minimally invasive delivery and access devices for medical device original equipment manufacturers (OEMs). This acquisition is a strategy to maintain the industry leadership
The company announced its agreement to acquire AdvancedCath for USD 190 million USD in cash. AdvancedCath is one of the leader in advanced catheter systems. This acquisition will eventually enhance and significantly expands TE’s connectivity and sensor position in the attractive medical device market
The company announced the complete acquisition of Measurement Specialties, Inc. one of the leader in global designer and producer of sensors and sensor-based systems. The acquisition of Measurement Specialties establishes TE as a leader in the very attractive high-growth sensor market
U.S. Medical Sector Contract Electronic Manufacturing Market
North America dominates the Americas U.S. medical sector contract electronic manufacturing market. North America is further segmented into the U.S. and Canada. The market exhibits growth opportunities due to advancement in robotics, and presence of key players in the market. The U.S. contract electronic manufacturing industry is known for its highly automated nature. According to the Robotics Industries Association (RIA), 2014 was an extremely successful year with robots valued at USD 1.6 billion were ordered by North American companies representing an increase of 28% in units and 19% in dollars over 2013. Although the automotive industry leads in the use of robotics, the semiconductor and electronics industry reflected a 21% increase in demand of robots in the year 2014 over 2013.
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