Key trends in medical device manufacturing

Revenue

• 75% expect their company will generate more sales in 2023
• 4% expect to generate less sales in 2023
• 21% expecting to generate the same amount of sales as 2022

Reshoring

• 48% have reshored some or all operations
• 67% are likely to extremely likely to add North American suppliers to their supply chains in the next 12 months

Top 3 services to source domestically

• Additive manufacturing
• Injection molding
• Automation technologies

Barriers to sourcing domestically

• Price
• Availability
• Vendor responsiveness

Key factors when choosing a new manufacturing partner

• Experience manufacturing similar components/products
• Cost
• Responsiveness

Artificial Intelligence (AI)

• 61% have or are actively embracing AI
• 70% who deployed AI have seen an immediate ROI
• 80% plan to deploy AI technologies during the next 2 years

Source:
https://www.xometry.com/resources/design-guides/medical-device-report-2023