IMARC Group’s latest research report, titled “Medical Device Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
The global medical device outsourcing market reached a value of US$ 105.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 183.13 Billion by 2027, exhibiting a CAGR of 9.10% during 2022-2027. Medical device outsourcing refers to the manufacturing of medical instruments by third-party vendors to save costs, perform recurring manufacturing, streamline the supply chain, and deliver commercial products to the markets while meeting industry standards. It aids in enhancing efficiency, minimizing business risks, improving product quality, augmenting development cycles, providing greater access to high technology, etc. Medical device outsourcing generally includes device assembly and packaging for shipment, along with providing value-added services, such as testing, validation, sterilization, recurring processing, etc. As a result, it finds widespread applications in diagnostic imaging, cardiology, drug delivery, endoscopy, diabetes care, orthopedics, etc.
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Important Attribute and highlights of the Report:
- Detailed analysis of the global market share
- Market Segmentation by service, therapeutics and application.
- Historical, current, and projected size of the market in terms of volume and value
- Latest industry trends and developments
- Competitive Landscape for Medical Device Outsourcing Market
- Strategies of major players and product offerings
The escalating prevalence of medical ailments and the growing requirement for quality healthcare services are primarily driving the medical device outsourcing market. Besides this, the elevating number of innovations in these devices is further stimulating the market growth. Apart from this, the rising consumer awareness levels are encouraging marketers to increase investments in research and development (R&D) activities, which is also catalyzing the global market. Moreover, owing to the implementation of stringent regulations by government bodies regarding product safety, manufacturers are collaborating with various regulatory compliance companies to get quick and timely approvals of their products with reduced costs, which is acting as another significant growth-inducing factor. Furthermore, healthcare companies are providing specialized facilities, such as on-site medical labs and cleanrooms, that are expected to bolster the medical device outsourcing market in the coming years.
Key Players Included in Global Medical Device Outsourcing Market Research Report:
- Celestica Inc. (Onex Corporation)
- Charles River Laboratories International Inc.
- Flex Ltd.
- Freyr Inc.
- Heraeus Holding GmbH
- ICON plc
- Integer Holdings Corporation
- IQVIA Inc.
- Plexus Corp.
- Sanmina Corporation
- TE Connectivity
- West Pharmaceutical Services Inc.
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COVID-19 Impact Overview:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Key Market Segmentation:
Breakup by Service:
- Regulatory Consulting
- Product Design and Development
- Product Testing and Sterilization
- Product Implementation
- Product Upgrade
- Product Maintenance
Breakup by Therapeutics:
- Cardiology
- Diagnostic Imaging
- Orthopedic
- IVD
- Ophthalmic
- General and Plastic Surgery
- Drug Delivery
- Dental
- Endoscopy
- Diabetes Care
Breakup by Application:
- Class I
- Class II
- Class III
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Medical Device Outsourcing Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Medical Device Outsourcing Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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