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About Memry Corporation

Memry Corporation is an advanced materials company engaged in the business of developing, manufacturing and marketing semi-finished materials, formed components and value-added sub-assembled products utilizing the properties exhibited by shape memory alloys, primarily those composed of nickel titanium (nitinol). The Company sells its products and services primarily to the medical device (especially stents, guidewires and laparoscopic subassemblies), telecommunications, aerospace and automotive industries.

Memry Corporation Headquarter Location

3 Berkshire Boulevard

Bethel, Connecticut, 06801,

United States


Latest Memry Corporation News

Global Medical Device Outsourcing Market to Reach $149.6 Billion by 2026

Aug 6, 2021

News provided by Share this article Share this article SAN FRANCISCO, Aug. 6, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled  "Medical Device Outsourcing - Global Market Trajectory & Analytics" . The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace. Global Medical Device Outsourcing Market FACTS AT A GLANCE Executive Pool: 2294 Companies: 74 - Players covered include Benchmark Electronics, Inc.; Cadence, Inc.; Celestica, Inc.; Creganna Medical; Flex Ltd.; HCL Technologies Limited; ICON plc; Integer Holdings Corporation; Intertech Engineering Associates, Inc.; Memry Corporation; Millstone Medical Outsourcing, LLC; Nortech Systems, Inc.; Phillips-Medisize Corporation; Plexus Corporation; Providien, LLC; Sparton Corporation; Tecomet, Inc.; Thermo Fisher Scientific, Inc.; Viant; West Pharmaceutical Services, Inc.; WuXi AppTec Co., Ltd. and Others. Coverage: All major geographies and key segments Segments: Service (Contract Manufacturing, Quality Assurance, Product Testing & Sterilization Services, Product Design & Development Services, Regulatory Affairs Services, Other Services); Application (Cardiovascular Devices, IVD Devices, Diagnostic Imaging Devices, Orthopedic Devices, Ophthalmic Devices, Drug Delivery Devices, Other Applications) Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Rest of Europe; Asia-Pacific; Rest of World. Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry ABSTRACT- Global Medical Device Outsourcing Market to Reach $149.6 Billion by 2026 Medical device outsourcing is an approach where a third party assumes responsibility of managing device development and manufacturing operations either in part or in entirety. Medical device outsourcing continues to grow in significance led by the increasing need for medical device companies to recalibrate their strategies to reduce costs, accelerate time-to-market and focus on their core competencies. Medical Device Outsourcing involves a third-party operating a part or entire client's technology assets. Outsourcing typically involves an agreement between the client company and the supplier or the external outsourcing service provider. As per the agreement terms, the supplier takes over the manufacturing means in the form of assets, workforce, and additional resources of the client company. Furthermore, the client company gets hold of the services provided by the supplier as per the contract terms. Medical device manufacturers (original equipment manufacturers or OEMs) sometimes hire a contract manufacturer to perform contract manufacturing services such as product prototype, production, injection molding, silicone compression molding, welding, assembly and packaging in a controlled environment, cleanroom and other auxiliary services such as metal machining. Medical device outsourcing can lower operational costs, increase business efficiency and boost productivity thus providing tangible, bottom line benefits to organizations. Amid the COVID-19 crisis, the global market for Medical Device Outsourcing estimated at US$92.5 Billion in the year 2020, is projected to reach a revised size of US$149.6 Billion by 2026, growing at a CAGR of 8.4% over the analysis period. Contract Manufacturing, one of the segments analyzed in the report, is projected to record a 9.1% CAGR and reach US$82.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Quality Assurance segment is readjusted to a revised 10% CAGR for the next 7-year period. The U.S. Market is Estimated at $43.1 Billion in 2021, While China is Forecast to Reach $16.2 Billion by 2026 The Medical Device Outsourcing market in the U.S. is estimated at US$43.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.2 Billion by the year 2026 trailing a CAGR of 9.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.8% and 7.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 8.1% CAGR. Medical device outsourcing market is set to record steady growth post the COVID-19 pandemic, as medical device companies resume strategies for cost-effective outsourcing solutions that can convert their fixed costs to variable. While optimistic economic outlook will help sustain the market momentum especially in the US market, factors such as ease of implementation and low costs will be prime factors in driving the adoption of medical device outsourcing, in both large and small enterprises. As companies modernize business practices in order to remain competitive and retain critical survival capabilities such as agility and flexibility in a rapidly changing marketplace, contract manufacturing market participants are positioned favorably to tap the emerging opportunities. Several advantages are stacked in favor of medical device outsourcing including dedicated product design teams, manufacturing cost reductions, minimizing number of process steps involved, cost-effective customized products, and improved time-to-market, among others. Growth is also fostered by the escalating demand for a wide range of medical devices and supplies, particularly to meet the growing medical needs of the world's expanding geriatric population. Rising incidence of diseases specifically such as diabetes, cardiovascular disease, cancer and joint diseases are driving demand for a variety of medical devices, thus stimulating growth in the medical device outsourcing market. Increased spending on healthcare, enhanced disease screening and detection techniques, greater emphasis on cost-effective and minimally invasive therapies, and technological advancements in diagnostics and therapeutics are also stimulating market growth. Rising acceptance of outsourcing among OEMs of ophthalmic, cardiovascular, oncology, neurology and dental devices, and also among providers of medical device design engineering, testing & simulation tools will foster growth in the medical device outsourcing market. The demand for outsourcing is also gaining ground due to the increasing complexities in product engineering and the growing need to comply with stringent quality requirement of various regulatory bodies. With medical device manufacturers facing significant cuts in public spending in the US and several leading EU nations, they are turning towards outsourcing service providers to cut costs. Long-term growth will be fueled by the constantly declining time duration for commercialization of products, as companies look to gain an edge over rivals. Product Testing & Sterilization Services Segment to Reach $17.5 Billion by 2026 In the global Product Testing & Sterilization Services segment, USA, Canada, Japan, China and Europe will drive the 7.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$10 Billion in the year 2020 will reach a projected size of US$16.4 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.2 Billion by the year 2026. More MarketGlass™ Platform Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide. Our platform is free for qualified executives and is accessible from our website or via our just released mobile application on  iOS  or  Android About Global Industry Analysts, Inc. & StrategyR™ Global Industry Analysts, Inc., ( ) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years. CONTACTS:

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