DUBLIN, June 7, 2023 /PRNewswire/ — The “Medical Device Outsourcing: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Medical Device Outsourcing Market to Reach $212.1 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Medical Device Outsourcing estimated at US$105.2 Billion in the year 2022, is projected to reach a revised size of US$212.1 Billion by 2030, growing at a CAGR of 9.2% over the analysis period 2022-2030.
Contract Manufacturing, one of the segments analyzed in the report, is projected to record a 9.9% CAGR and reach US$109.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Quality Assurance segment is readjusted to a revised 10.7% CAGR for the next 8-year period.
The U.S. Market is Estimated at $46.4 Billion, While China is Forecast to Grow at 10.4% CAGR
The Medical Device Outsourcing market in the U.S. is estimated at US$46.4 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$24 Billion by the year 2030 trailing a CAGR of 10.4% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 8.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 8.9% CAGR.
Looking Ahead to 2023
Fears of new COVID outbreaks and China’s already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What’s New for 2023?
- Special coverage on Russia–Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Topics Covered:
MARKET OVERVIEW
- Exposure of Leading Medical Device Companies to COVID-19 Pandemic
- Providers of Critical Medical Supplies Gain Traction
- Medical Device Outsourcing – Global Key Competitors Percentage Market Share in 2022 (E)
- Medical Device Outsourcing: An Introduction
- Quality Remains Guiding Factor
- Medical Device Outsourcing Services
- Classification of Medical Devices
- Medical Device Outsourcing Market by Device Category: 2020E
- Market Outlook
- Asia-Pacific Emerges as a Preferred Outsourcing Destination
- Class II Devices: Important Device Category
- Improving Healthcare Expenditure to Bode Well for Market Growth
- Competitive Landscape
- Market Share of Major Players in the Global Medical Contract Manufacturing Market for Finished Goods
- Consolidation Continues to Mark the Industry
- World Brands
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Focus on Core Competencies: A Major Objective of Contract Manufacturing
- An Effective Strategy for Small & Mid-Size Companies
- Offshoring Model Paves Way for Medical Device Market Growth in Emerging Nations
- Contract Manufacturing Gains Importance as a Brand Promotion Channel
- Onshoring Trend Gains Ground
- Rise in Disease Incidences and Access to Modern Therapeutics Foster Growth
- Expanding Role of Outsourcing Partners and Rising Demand for Full-Service Providers
- Contract Manufacturers Look to Innovations in Medical Devices
- Design Engineering to Make Gains
- Product Design & Development Services: High in Demand
- Myriad Benefits Offered Drive Demand for Product Design & Development Services
- R&D and After-Market Engineering Support Services for Medical Devices on the Rise
- CRO Outsourcing Picks Up Momentum
- Product Testing & Certification Services Gain Traction
- OEMs Queue Up for Product Implementation and Supply Chain Services
- Outsourced Regulatory Consulting Services Emerge as New Driving Force
- Outsourcing of IVD Device Manufacturing Gains Momentum
- Orthopedic Contract Manufacturing Market: Favorable Growth Potential
- Medical Electronic Manufacturing Services Providers See Increased Opportunities
- Top 10 Selection Criteria for EMS Partner Ranked by Order of Importance
- Medical Device Miniaturization Drives Demand for Outsourcing Services
- Shortening of Product Lifecycles, Speed to Market to Drive Outsourcing Trend
- A Brief Overview of Major Challenges
FOCUS ON SELECT PLAYERS (Total 74 Featured)
- Benchmark Electronics, Inc.
- Cadence, Inc.
- Celestica, Inc.
- Creganna Medical
- Flex Ltd.
- HCL Technologies Limited
- ICON plc
- Integer Holdings Corporation
- Intertech Engineering Associates, Inc.
- Memry Corporation
- Millstone Medical Outsourcing, LLC
- Nortech Systems, Inc.
- Phillips-Medisize Corporation
- Plexus Corporation
- Providien, LLC
- Sparton Corporation
- Tecomet, Inc.
- Thermo Fisher Scientific, Inc.
- Viant
- West Pharmaceutical Services, Inc.
- WuXi AppTec Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/9sdvyh
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