Recent technological advancements in the medical field, coupled with the abundance of lifestyle-related diseases and chronic disorders, have caused a significant upswing in minimally invasive medical procedures. Minimally invasive procedures bear less risk, cause less discomfort to patients and have much quicker recovery rates than traditional surgery.
In 2020 the minimally invasive surgical devices market was valued at $27,053.23 million and is estimated to grow to $39,556.62 million by the year 2026. Medical device OEMs must keep up with advancements while expanding and improving the range of their minimally invasive offerings.
This article offers a simple approach to improving OEMs margins and ultimately gaining greater market share.
Minimally invasive devices are required to be especially small in size owing to their intended use. A device enters the body through a minor incision to perform: complex 3D imaging, ablations, embolization, or other surgical procedures. A single minimally invasive device can be equipped with multiple instruments. For example, a single catheter may be electromagnetically guided with sensors, along with an embolization coil loaded and ready to be released at a particular site, and a specialized tip that helps navigate hard to reach places within the organ.
Vital features of complex micro-assembly are:
Due to its complexity and size, developing a micro-device is tremendously demanding. manufacturers must adopt a system of advanced processes. Such Complex Micro-assembly techniques and processes include:
and these procedures must be carried out by experts in the area of complex micro-assembly.
With all intricate manufacturing elements considered, a minimally invasive device must prove profitable with large enough margins for the OEM. With multiple competitors in the market, medical device OEMs must find ways to significantly reduce costs without compromising on quality or device performance.
Cost, rather than quality, is what drives an end-user of medical devices to ultimately place an order. Not because quality is not important, but because quality is a given. Finding the right contract manufacturing partner will help OEMs improve their market margins. In search of such a partner we suggest looking for these two attributes:
1 – A contract manufacturer that specializes in complex micro-assembly, and is capable of delivering industry standards in quality and performance.
2 – A strategic manufacturing location where labor costs are comparatively lower. When looking at the manufacturing location, you will also want to consider the supply chain. A plant located in a central industrial hub, with easy access to suppliers and proximity to docks, will have lower costs.
Quasar provides a full turnkey solution for the entire production process offering complex assembly capabilities at high volume capacity.
Our headquarters are located in Hong Kong, we have a technology center in Israel, and our manufacturing plants are in China and Thailand.
Quasar’s significant advantages in cost, manpower, timing, advanced engineering technology, international quality standards, and strict IP control makes us your ideal partner.