The cost of meeting increasingly detailed and comprehensive regulatory requirements on medical devices has driven manufacturers to shrink the number of suppliers they work with and select partners with a wider variety of capabilities. Adding precision machining to Dynamic Group’s world-class tooling and injection molding offerings would help prospective and existing customers keep the cost and complexities of managing vendors low.
Additionally, Dynamic Group is well-positioned to deliver industry-leading speed and value for precision overmolded components, one of the most challenging, rare, and valued capabilities in the medical device market. Many of the resources and capabilities required to succeed in this space are already in place at Dynamic: a QMS that meets the industry’s requirements, precision machining centers and capabilities, robust manufacturing processes, sophisticated production management systems, access to the highly skilled and experienced labor pool, and abundant acquisition targets, strong relationships with equipment, service, software, and consumable suppliers, etc.
In the past, custom molders often treated prototype tooling, process development, and validation activities as loss leaders for all sizes of production molding opportunities. This changed when new regulatory requirements drastically increased the cost of bringing medical devices to market. Although demand for new low and middle-volume medical device molding projects did not slow, the number of projects finding a home decreased significantly as very few sellers could meet demand in a financially stable manner. As time has passed, the market has come to accept the increased costs of bringing low and mid-volume products to market. Still, supply remains low as companies struggle to consolidate demand and recruit the talent and resources needed to provide a reliable and sustainable supply. Dynamic Group’s unique experience as a pioneer in this space, adjacent capabilities, access to the demand generators, and understanding of what is needed to be successful present an attractive opportunity to create and deliver value.
“Dynamic is on time and right the first time.”
- Project Manager, Tooling Customer