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Medical Device Manufacturing Outsourcing Market Size, Share Global Analysis Report, 2020–2026
Medical Device Manufacturing Outsourcing Market By Product (EMS, Raw Materials, and Finished Goods), By Application (Ortho & Spine, Cardiovascular, Medical Imaging, IVDs, General Medical Devices, and Others), and By Services (Product Design & Development, Product Upgrade & Maintenance, Regulatory Consulting, Product Testing & Certification, Supply Chain Management, and Product Implementation): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Industry Insights
The medical device manufacturing outsourcing market report analyzes and notifies the industry statistics at the global as well as regional and country levels in order to acquire a thorough perspective of the entire medical device manufacturing outsourcing market. The historical and past insights are provided for FY 2016 to FY 2019 whereas projected trends are delivered for FY 2020 to FY 2026. The quantitative and numerical data is represented in terms of value (USD Billion) from FY 2016 – 2026.
This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of the medical device manufacturing outsourcing industry. The report analyzes and declares the historical and current trends analysis of the medical device manufacturing outsourcing industry and subsequently recommends the projected trends anticipated to be observed in the medical device manufacturing outsourcing market during the upcoming years.
Key Insights from Primary Research
- As per our analysis, the medical device manufacturing outsourcing market is set to grow annually at a rate of around 11%
- It was valued through primary research that the medical device manufacturing outsourcing market was valued at around USD 65 Billion in 2019
- Asia-Pacific region is expected to be the leading choice for contract manufacturers due to the presence of major manufacturing countries such as China, Japan, South Korea, and India
- Outsourcing medical devices manufacturing helps to reduce production costs by 12-15 percent
Key Recommendations from Analysts
- As per our analysis, it was anticipated that developed countries have the technologies and want contract manufacturers at comparatively lower labor costs, whereas the Asia Pacific and other developing countries want to grab the opportunity
- The market value for the year 2026 is estimated to reach around USD 136 Billion
- Asia-Pacific region is likely to hold a major market share in the upcoming years
- As per our analysts, there is a significant increase in investment in R&D which has encouraged OEMs to shift to outsourcing to reduce costs
The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the medical device manufacturing outsourcing industry is exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.
Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the medical device manufacturing outsourcing industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the medical device manufacturing outsourcing market.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the medical device manufacturing outsourcing industry. The medical device manufacturing outsourcing market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the medical device manufacturing outsourcing sector. Key strategic developments in the Medical Device Manufacturing Outsourcing Market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the medical device manufacturing outsourcing market are appropriately highlighted in the report.
Some new businesses are supposed to enter this area because of the high demand for medical equipment throughout the world. This is expected to increase the level of competitiveness worldwide. In addition, the market is likely to improve over the forecast period by partnering with established players and providing quality enhancement niche services. Developed businesses are expected to broaden their portfolio and provide one-stop solutions that remain competitive. Subcontracting manufacturing operations allow OEMs to reduce the cost of product design. However, sellers in this market offer low-cost manufacturing solutions for complicated and high-precision medical equipment without sacrificing price. This also helps OEMs to reduce production costs and improve operational efficiency. Therefore, the outsourcing industry outlook for medical devices is positive for the forecast, and the demand is expected to continue to develop.
The medical device manufacturing outsourcing market research report delivers an acute valuation and taxonomy of the medical device manufacturing outsourcing industry by practically splitting the market on the basis of different products, applications, services, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the medical device manufacturing outsourcing industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for the medical device manufacturing outsourcing industry is provided for the leading economies of the world.
The medical device manufacturing outsourcing market is segmented based on product, application, and service. On the basis of product segmentation, the market is classified into EMS, raw materials, and finished goods. In terms of application segmentation, the market is bifurcated into ortho &, spine, cardiovascular, medical imaging, IVDs, general medical devices, and others. The service segment is further categorized into product design & development, product upgrade & maintenance, regulatory consulting, product testing & certification, supply chain management, and product implementation.
Report Scope
Report Attribute |
Details |
Market Size in 2019 |
USD 64.7 Billion |
Projected Market Size in 2026 |
USD 136 Billion |
CAGR Growth Rate |
11.2% CAGR |
Base Year |
2019 |
Forecast Years |
2020-2026 |
Key Market Players |
Pace Analytical Services, Eurofins Scientific, Integer, Plexus, Intertek Group, Tecomet, MAPI, Flextronics, and Freyr Solutions among others. |
Key Segment |
By Product, By Application, By Services Substrate, By Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Some of the essential players operating in the medical device manufacturing outsourcing market include
- Pace Analytical Services
- Eurofins Scientific
- Integer
- Plexus
- Intertek Group
- Tecomet
- MAPI
- Flextronics
- Freyr Solutions
The taxonomy of the medical device manufacturing outsourcing industry by its scope and segmentation is as follows:
By Product Segmentation Analysis (Customizable)
- EMS
- Raw Materials
- Finished Goods
By Application Segmentation Analysis (Customizable)
- Ortho & Spine
- Cardiovascular
- Medical Imaging
- IVDs
- General Medical Devices
- Others
By Services Segmentation Analysis (Customizable)
- Product Design & Development
- Product Upgrade & Maintenance
- Regulatory Consulting
- Product Testing & Certification
- Supply Chain Management
- Product Implementation
Regional Segmentation Analysis (Customizable)
- North America
- The U.S.
- Canada
- Europe
- Germany
- The UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Table of Content
Industry Major Market Players
- Pace Analytical Services
- Eurofins Scientific
- Integer
- Plexus
- Intertek Group
- Tecomet
- MAPI
- Flextronics
- Freyr Solutions
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