As outsourcing in the medical device industry continues to grow by double digits, the OEM-supplier relationship is evolving in new directions.
Mark Bonifacio recently contributed to this article by George Kaplan for MedTech Media Europe. Here is an excerpt:
Although the medical technology industry embraced outsourcing fairly late in the game compared with some other sectors—automotive comes to mind—the trend has been accelerating for many years now, and there appears to be no end in sight.
Robust growth is forecast for the foreseeable future, but it’s worth noting that outsourcing in the conventional sense is experiencing a changing dynamic, as OEM expectations evolve. What used to be purely transactional relationships, limited to the supply of commodities, is transforming into partnerships. That, in turn, is informing how OEMs source their critical, top-tier suppliers.