Medical Devices and Equipment
The medical technology market is growing at an accelerating rate, aligned with continuous advancements in digital and biotechnologies. As global healthcare systems increase their dependence on high-tech solutions, the medical devices and equipment (MD&E) industry is particularly set to increase in market share over the coming years. The MD&E market was valued at $540 billion in 2023 and is expected to reach upwards of $850 billion by 2032.
Top Medical Devices and Equipment trends to watch:
- The popularity of software-based medical devices and self-administered diagnostic tools continues to grow, driven by advancements in AI and the increasing demand for convenient healthcare solutions.
- Advances in circuit miniaturization and real-time data tracking are enabling the proliferation of wearables for remote patient monitoring to enhance non-invasive diagnostics and treatment.
- AI is positively disrupting medical devices by enabling smarter diagnostics, personalized treatments, and more efficient data analysis, enhancing both patient care and operational efficiency.
- Bioprinting is making significant strides as the sector inches closer to printing functional tissues and organs for transplantation, holding immense potential for the future of regenerative medicine.
With technological innovations at the forefront of the MD&E industry, new and existing medical device manufacturers need to ensure the flexibility and efficiency of their production efforts. Being one of the most highly regulated markets on the planet, regulatory compliance also remains a key priority.
Boost compliance and efficiency with MRPeasy
MRPeasy is a cloud-based manufacturing ERP system that perfectly accommodates the complex requirements of small and medium MD&E manufacturers. This powerful yet affordable manufacturing system helps to increase production efficiency, enhance scalability, and assure compliance while increasing ROI and reducing time to market.
MRPeasy enables you to:
- Instantly estimate accurate lead times and production costs, handle invoices, quotes, shipments, orders, and sales, all in one system.
- Easily manage inventory, vendors, and procurements, and automatically raise purchase orders for out-of-stock items.
- Ensure compliance with full end-to-end traceability, advanced stock, order, and cost-tracking tools, barcode scanning, and a wealth of built-in reports.
- Manage returns with the RMA system and conduct quality inspections straight within the production system.
- Optimize workflows with the Master Production Schedule, dynamic Gantt charts, backward scheduling, and advanced production planning tools.
- Manage all Bills of Materials, formulas, and routings, including native support for complex multi-level and configurable BOMs.
- Unify the operation with your choice of built-in accounting, fulfillment, workflow automation, CRM, or eCommerce integrations, such as Xero, Quickbooks, Zapier, HubSpot, and many others.
Check out this short video on how MRPeasy works for the MD&E industry:
Success stories
Optimec Systems
Optimec Systems is a UK-based engineering company that produces high-tech measurement devices used in lens manufacturing applications.
Optimec Systems uses MRPeasy for inventory and production management.
RetiVue
RetiVue, based in Virginia, USA, is a medical device manufacturer that specializes in creating retinal imaging tools for ophthalmological diagnosis.
RetiVue uses MRPeasy for manufacturing and stock traceability.
Cantium Scientific
Cantium Scientific from the UK produces bioaerosol sampling devices for hospitals, food production, and indoor air quality testing.
Cantium Scientific uses MRPeasy as a full-suite manufacturing ERP system.