Medical Device Contract Manufacturing Market by Device Type (IVD, Cardiovascular, Drug Delivery (Autoinjectors, Infusion Pumps), Diabetes Care, Orthopedic, Ophthalmology, Endoscopy, Surgery) Class of Device (I, II, III) Services - Global Forecast to 2027
Description
Medical Device Contract Manufacturing Market by Device Type (IVD, Cardiovascular, Drug Delivery (Autoinjectors, Infusion Pumps), Diabetes Care, Orthopedic, Ophthalmology, Endoscopy, Surgery) Class of Device (I, II, III) Services - Global Forecast to 2027
The global medical device contract manufacturing market is projected to reach USD 118.9 billion in 2027 from USD 71.2 billion in 2022, at a CAGR of 10.8%. The rapid advancements in technology related to medical devices and automation of manufacturing are factors driving the market. Additionally, increasing expenditure on healthcare infrastructure and awareness campaigns is expected to provide growth opportunities for market players.
“By service, the device development & and manufacturing services was the larger segment in the medical device contract manufacturing market in 2021.”
By service, the medical device contract manufacturing market is segmented into research applications and therapeutic applications. The packaging and assembly services segment is expected to be the fastest-growing segment of the medical device contract manufacturing market in the forecast period. The need for these services arises since many medical device components are supplied by different suppliers/stakeholders. With the outsourcing of component manufacturing on the rise, this service is expected to be in high demand.
“Among IVD devices, the IVD consumables segment accounted for the larger share in 2021.”
By IVD devices segment is further segmented into IVD consumables and IVD equipment, out of which the former held the larger share in 2021, and is expected to grow at a higher CAGR in the forecast period. Factors such as the increase in the variety of available reagents and analytical techniques are pushing the growth of this market.
“In 2021, China accounted for the largest share of the Asia Pacific medical device contract manufacturing market“
This can be attributed to the low-cost labour, favourable regulatory environment, and rapidly evolving healthcare infrastructure. In terms of CAGR, China is expected to grow at the fastest rate out of all countries in the region, followed by India, which is expected to be the next manufacturing hub after China, within a few years. The increasing private and public investments in India are set to fuel the growth of the country.
A breakdown of the primary participants referred to for the medical device contract manufacturing market is provided below:
By Company Type (Supply-side): Tier 1: 40%, Tier 2: 35%, and Tier 3: 25%
By Designation: C-level: 30%, Director-level: 55%, and Others: 15%
By Region: North America: 20%, Europe: 15%, Asia-Pacific: 25%, Latin America: 10%, and Middle East and Africa: 30%
Prominent players in the medical device contract manufacturing market include Sanmina Corporation (US), TE Connectivity Ltd. (Switzerland), Jabil Inc. (US),Nipro Corporation (Japan), and Integer Holdings Corporation (US).
Research Coverage:
The report analyzes the medical device contract manufacturing market and aims at estimating the market size and future growth potential of this market based on various segments such as device type, service, class of device, and region. The report also includes a competitive analysis of the key players in this market along with their company profiles, product/service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or a combination of the below-mentioned five strategies.
This report provides insights into the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the medical device contract manufacturing market. The report analyzes the market based on the class of device, device type, service, and region.
Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product/service launches in the medical device contract manufacturing market.
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for medical device contract manufacturing across regions.
Market Diversification: Exhaustive information about products/services, untapped regions, recent developments, and investments in the medical device contract manufacturing market.
Competitive Assessment: In-depth assessment of market shares, strategies, products/services, distribution networks, and manufacturing capabilities of the leading players in the medical device contract manufacturing market.
The global medical device contract manufacturing market is projected to reach USD 118.9 billion in 2027 from USD 71.2 billion in 2022, at a CAGR of 10.8%. The rapid advancements in technology related to medical devices and automation of manufacturing are factors driving the market. Additionally, increasing expenditure on healthcare infrastructure and awareness campaigns is expected to provide growth opportunities for market players.
“By service, the device development & and manufacturing services was the larger segment in the medical device contract manufacturing market in 2021.”
By service, the medical device contract manufacturing market is segmented into research applications and therapeutic applications. The packaging and assembly services segment is expected to be the fastest-growing segment of the medical device contract manufacturing market in the forecast period. The need for these services arises since many medical device components are supplied by different suppliers/stakeholders. With the outsourcing of component manufacturing on the rise, this service is expected to be in high demand.
“Among IVD devices, the IVD consumables segment accounted for the larger share in 2021.”
By IVD devices segment is further segmented into IVD consumables and IVD equipment, out of which the former held the larger share in 2021, and is expected to grow at a higher CAGR in the forecast period. Factors such as the increase in the variety of available reagents and analytical techniques are pushing the growth of this market.
“In 2021, China accounted for the largest share of the Asia Pacific medical device contract manufacturing market“
This can be attributed to the low-cost labour, favourable regulatory environment, and rapidly evolving healthcare infrastructure. In terms of CAGR, China is expected to grow at the fastest rate out of all countries in the region, followed by India, which is expected to be the next manufacturing hub after China, within a few years. The increasing private and public investments in India are set to fuel the growth of the country.
A breakdown of the primary participants referred to for the medical device contract manufacturing market is provided below:
By Company Type (Supply-side): Tier 1: 40%, Tier 2: 35%, and Tier 3: 25%
By Designation: C-level: 30%, Director-level: 55%, and Others: 15%
By Region: North America: 20%, Europe: 15%, Asia-Pacific: 25%, Latin America: 10%, and Middle East and Africa: 30%
Prominent players in the medical device contract manufacturing market include Sanmina Corporation (US), TE Connectivity Ltd. (Switzerland), Jabil Inc. (US),Nipro Corporation (Japan), and Integer Holdings Corporation (US).
Research Coverage:
The report analyzes the medical device contract manufacturing market and aims at estimating the market size and future growth potential of this market based on various segments such as device type, service, class of device, and region. The report also includes a competitive analysis of the key players in this market along with their company profiles, product/service offerings, recent developments, and key market strategies.
Reasons to Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one, or a combination of the below-mentioned five strategies.
This report provides insights into the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the medical device contract manufacturing market. The report analyzes the market based on the class of device, device type, service, and region.
Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product/service launches in the medical device contract manufacturing market.
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for medical device contract manufacturing across regions.
Market Diversification: Exhaustive information about products/services, untapped regions, recent developments, and investments in the medical device contract manufacturing market.
Competitive Assessment: In-depth assessment of market shares, strategies, products/services, distribution networks, and manufacturing capabilities of the leading players in the medical device contract manufacturing market.
Table of Contents
400 Pages
- STUDY OBJECTIVES
- MARKET DEFINITION
- MARKET SCOPE
- CURRENCY CONSIDERED
- STAKEHOLDERS
- SUMMARY OF CHANGES
- RESEARCH DATA
- MARKET SIZE ESTIMATION
- MARKET BREAKDOWN AND DATA TRIANGULATION
- MARKET SHARE ESTIMATION
- STUDY ASSUMPTIONS
- RESEARCH LIMITATIONS
- RISK ASSESSMENT
- IMPACT OF RECESSION ON MEDICAL DEVICE CONTRACT MANUFACTURING MARKET
- EXECUTIVE SUMMARY
- MEDICAL DEVICE CONTRACT MANUFACTURING MARKET OVERVIEW
- MEDICAL DEVICE CONTRACT MANUFACTURING MARKET: DEVELOPED VS. DEVELOPING MARKETS
- MEDICAL DEVICE CONTRACT MANUFACTURING MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES
- MEDICAL DEVICE CONTRACT MANUFACTURING MARKET: REGIONAL MIX
- INTRODUCTION
- MARKET DYNAMICS
- PORTER’S FIVE FORCES ANALYSIS
- TARIFF AND REGULATORY LANDSCAPE
- KEY CONFERENCES AND EVENTS IN 2022-2023
- PATENT ANALYSIS
- TECHNOLOGY ANALYSIS
- SUPPLY CHAIN ANALYSIS
- ECOSYSTEM ANALYSIS
- TRADE ANALYSIS
- YC-YCC ANALYSIS
- KEY STAKEHOLDERS AND BUYING CRITERIA
- ADJACENT MARKETS FOR MEDICAL DEVICE CONTRACT MANUFACTURING
- INDUSTRY TRENDS
- IMPACT OF RECESSION ON MEDICAL DEVICE CONTRACT MANUFACTURING MARKET
- INTRODUCTION
- IVD DEVICES
- DIAGNOSTIC IMAGING DEVICES
- CARDIOVASCULAR DEVICES
- DRUG DELIVERY DEVICES
- ORTHOPEDIC DEVICES
- RESPIRATORY CARE DEVICES
- OPHTHALMOLOGY DEVICES
- SURGICAL DEVICES
- DIABETES CARE DEVICES
- DENTAL DEVICES
- ENDOSCOPY AND LAPAROSCOPY DEVICES
- GYNECOLOGY AND UROLOGY DEVICES
- PERSONAL CARE DEVICES
- NEUROLOGY DEVICES
- PATIENT MONITORING DEVICES
- PATIENT ASSISTIVE DEVICES
- OTHER DEVICES
- INTRODUCTION
- COMPARISON OF DEVICE CLASSIFICATION BY COUNTRY/REGION
- CLASS II MEDICAL DEVICES
- CLASS I MEDICAL DEVICES
- CLASS III MEDICAL DEVICES
- INTRODUCTION
- DEVICE DEVELOPMENT AND MANUFACTURING SERVICES
- QUALITY MANAGEMENT SERVICES
- PACKAGING AND ASSEMBLY SERVICES
- OTHER SERVICES
- INTRODUCTION
- ASIA PACIFIC
- NORTH AMERICA
- EUROPE
- LATIN AMERICA
- MIDDLE EAST & AFRICA
- OVERVIEW
- KEY STRATEGIES ADOPTED BY PLAYERS
- REVENUE SHARE ANALYSIS OF TOP MARKET PLAYERS
- MEDICAL DEVICE CONTRACT MANUFACTURING MARKET SHARE (2021)
- MARKET SHARE ANALYSIS
- COMPANY EVALUATION QUADRANT
- COMPANY EVALUATION QUADRANT FOR START-UPS/SMES (2021)
- COMPETITIVE BENCHMARKING
- REGION: COMPANY FOOTPRINT
- MEDICAL DEVICE CONTRACT MANUFACTURING MARKET: R&D EXPENDITURE
- COMPETITIVE SCENARIO
- KEY PLAYERS
- OTHER PLAYERS
- DISCUSSION GUIDE
- KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
- CUSTOMIZATION OPTIONS
- RELATED REPORTS
- AUTHOR DETAILS
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