The worldwide healthcare OEM market is constantly expanding, owing to the thriving healthcare sector. The market was already gaining pace around the world, driven by rising population, rising prevalence of a wide range of chronic diseases, and demand for low-cost treatment techniques. And now, with the introduction of COVID-19, the healthcare OEM industry is experiencing huge demand around the world.

The Healthcare OEM market is thriving, bolstered by the demand for OEM medical equipment. Original Equipment Manufacturers (OEMs) play a crucial role in designing and producing high-quality medical devices and equipment. With a focus on innovation, reliability, and regulatory compliance, OEMs cater to the diverse needs of healthcare providers worldwide, driving market growth.

The Healthcare OEM market is thriving as medical OEM companies cater to the growing demand for specialized equipment and devices in the healthcare sector. These companies provide original equipment manufacturing services, delivering high-quality and innovative solutions to medical device manufacturers. With a focus on precision engineering and regulatory compliance, medical OEM companies drive market growth by meeting diverse healthcare needs.

Medical device producers, particularly those producing quick diagnostics equipment, breathing devices, defibrillators, ventilators, CT scanners, and point-of-care diagnostics, are seeing record sales. The widespread application of these devices in the healthcare industry is a key growth driver for the market. Furthermore, increasing demand for lightweight, portable monitoring equipment propels market growth to new heights.

In 2022, the healthcare OEM market was valued at USD 0.13 billion. The Healthcare OEM market is expected to increase from USD0.14274 billion in 2023 to USD 0.33 billion by 2032, with a compound yearly growth rate (CAGR) of 9.8% over the forecast period (2023-2032). 

In addition, the growing number of software businesses developing healthcare software for the management of healthcare facilities, hospitals, clinics, and nursing homes has an impact on market growth. Furthermore, factors such as the demand for improved technology, the growing emphasis on high-quality, low-cost therapies, and the growing relevance of patient safety all contribute to market expansion.

Global Healthcare OEM Market   - Segments

The report is segmented into four dynamics;

By Type: Healthcare Software, Medical Devices, Instruments, and others.

By OEM Solutions: Quality Control & Regulatory Compliance, Manufacturing & Fabrication, Packaging & Sterilization, Product Design & Development, Order Fulfilments & Flexible Distribution, Project Management, and Technical Support.

By Application: Healthcare Administration, Veterinary, Dialysis, Surgery, Dentistry, Ophthalmology, Laboratory, Pharmaceutical & Cosmetics, and others.

By Regions: North America, Asia Pacific, Europe, and the Rest-of-the-World.

Global Healthcare OEM Market   -Regional Analysis

North America dominates the global healthcare OEM market. The largest market share attributes to the strong presence of major medical devices, instruments, and software companies in the region. Moreover, factors such as the rising demand for innovative healthcare IT solutions and emphasis on minimizing the skyrocketing healthcare costs drive the regional market growth. Besides, the high consumption potential, increasing production capacities, and well-developed economies in the region foster market growth.  The North America healthcare OEM market is predicted to garner tremendous gains over the forecast period.

Europe stands second in the global healthcare OEM market. The market is driven by the presence of well-established healthcare sectors, the growing purchasing power of consumers, and increasing healthcare expenditures drive the regional market growth. Moreover, factors such as the significant demand for lightweight and portable medical devices and instruments in the region propel market growth.

Germany, with its flourishing medical device companies and advanced technologies, holds the leading share in the regional market, followed by the UK, Italy, Spain, Germany, and France. Furthermore, the involvement of new technologies and inventions in Healthcare OEM provides a massive impetus to the growth of the market. The European healthcare OEM market is projected to emerge as a profitable market over the assessment period. 

The Asia Pacific healthcare OEM market share is heading with the burgeoning healthcare sectors in the region. Additionally, advances in technologies and growth in the electrical &electronics sector propel the regional market. China is the largest Healthcare OEM market in the region, followed by India. The APAC healthcare OEM market is predicted to grow with a phenomenal CAGR during the review period (2017 to 2023).

Global Healthcare OEM Market   - Competitive Analysis

Highly competitive, the global healthcare OEM market appears fragmented due to the presence of several well-established players. The extensive fragmentation in the market is resulting in higher price competition and a fall in profit margin. Hence, to remain at the front of the competition, players incorporate strategies such as mergers & acquisitions, collaborations, expansion, and product/ technology launch.

However, the market is commoditized, and there exists little room for differentiation strategies. Manufacturers stay focused on product development and invest substantially to drive R&D, clinical trial, and regulatory approvals to tackle this. Another strategy adopted by manufacturers is to develop close relationships with cardiac hospitals and service agreements. They use a variety of distributions channels to generate significant sales of their product. Companies are also focusing on developing regions, especially India, is experiencing a sharp growth in the market demand. 

Major Players:

Players leading the global healthcare OEM market include GE Healthcare (UK), Johnson & Johnson (US), Siemens Healthcare GmbH (Germany), Koninklijke Philips N.V. (Netherlands), Baxter International (US), Aramark (US), Fujifilm Holdings Corporation (Japan), Toshiba Medical Systems Corporation (Japan), Hitachi Medical Systems America, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Esaote SpA (Italy), Accenture Plc. (US), Infosys Ltd. (India), Cognizant Technology Solutions Corporation (US), Allscripts Healthcare Solutions (US), IBM Corporation (US), Dell (US), Wipro (US), Xerox Corporation (US), and Tata Consultancy Services Ltd. (India), among others. 

For more information visit at MarketResearchFuture