The medical device industry is outsourcing not only the manufacturing of medical devices, but also associated services, such as regulatory consulting and contract manufacturing, to medical device service providers.
Scope of the Report:This report studies the Medical Device Outsourcing market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the Medical Device Outsourcing market by product type and applications/end industries.
The market for outsourcing witnesses a huge increase owing to the benefits, which include reduction in overall cost and decrease in the time required for the product to enter into the market.
Rising geriatric population is predicted to increase demand for medical devices and supplies forming a large customer base with limited health resources, thereby pushing manufacturers towards subcontracting of activities such as assembling, packaging, and others. For instance, new entrants of the industry are anticipated to outsource device designing in order to be technologically updated and meet the demands of the patients over the forecast period.
Asia-Pacific is projected to register the highest CAGR of 10.5% during the forecast period, owing to low labor costs, low overhead expenses, and improving technical abilities to produce class III medical devices. In addition, tax breaks and incentives such as lowered tariffs and duties to foreign companies in these nations offer a lucrative opportunity for the market growth.
The global Medical Device Outsourcing market is valued at xx million USD in 2020 and is expected to reach xx million USD by the end of 2026, growing at a CAGR of xx% between 2020 and 2026.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of Medical Device Outsourcing.
Europe also play important roles in global market, with market size of xx million USD in 2020 and will be xx million USD in 2026, with a CAGR of xx%.
Market Segment by Companies, this report covers Celestica
Creganna
Flextronics International
Medical Product Outsourcing
Integer
Kinetics Climax
Shandong Weigao
Sanmina
Daiichi Jitsugyo
CFI Medical
NSF International
Infinity Plastics Group
ProMed Molded Products
Sterigenics International
GE Healthcare
Accellent
Mitutoy
Omnica
Cirtec Medical
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers Finished goods
Electronics
Raw Materials
Market Segment by Applications, can be divided into Orthopedics and Spine
Cardiovascular
Radiology
General Medical Devices
Frequently Asked Questions
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
- By Type
- By Application
- By Region
- By Country
- By Manufacturer
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.