The Global Medical Device Outsourced Manufacturing Market accounted for USD 13.10 Billion in 2020 and is expected to reach USD 37.63 Billion by 2028, growing at a CAGR of 14.1% from 2021 to 2028.
Market Overview
The Global Medical Device Outsourced Manufacturing Market accounted for USD 13.10 Billion in 2020 and is expected to reach USD 37.63 Billion by 2028, growing at a CAGR of 14.1% from 2021 to 2028.
Medical Device can be defined as an apparatus, machine or instrument which is intended to affect the structure or any function of the body of the man or animal and which is mainly intended for the use of diagnosis of a disease, treatment or prevention of a disease in man or other animals. Due to increasing healthcare costs, there has been immense pressure on the medical device companies to reduce the time required to bring a medical device to the market and carryout other streamlining processes. Therefore, outsourcing the manufacturing of the medical device has been helpful for the industry as it takes into account all the factors right from the development of the device to bringing it in the market. The market is primarily driven by the increasing demand for medical devices along with the rising price competition. The number of healthcare providers offering the telemedicine services in the COVID-19 pandemic has increased in order to reduce the unnecessary in-person visits. Also, manufacturers are increasingly adopting robotics and automated solutions to help manage increasing labor costs and difficulties in recruiting medical manufacturing workers.
COVID-19 Impact Analysis
The COVID-19 pandemic has significantly affected the Medical Device Outsourced Manufacturing market. The pandemic has caused major disruption in the supply chain market which has led to shortages and slowing of the production of medical devices. This has led to the need for the scalable manufacturing operations among OEM’s, for those undertaking the production of test kits and diagnostic systems. But the current pandemic was a booster for the product sterilization services. As long as the pandemic continues, the demand to sterilize the single-use medical instruments and Personal Protective Equipment will remain high.
Growth Factors
The increasing demand for the medical devices along with the rising price competition is one of the major reasons for the demand of Medical Device Outsourced Market. The rising number of manufacturers and the growing difficulties in the product engineering are the factors fueling the demand.
The rising prevalence of chronic diseases is increasing the demand for the Medical devices. This is helping the market as Implantable Medical Devices (IMDs) are used widely to improve the patient’s medical outcomes. This makes the designers of IMDs to balance reliability, power consumption, costs and complexity. This has led to companies shifting towards innovation and manufacturing the well-designed medical devices. The changes in the ISO standards are expected to increase the demand for quality assurance and regulatory affairs across the globe, while manufacturing the Medical devices.
Report Scope :
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Service Analysis Preview
This is estimated to dominate the market due to increasing focus on decreasing cost of production. The increasing complexity in the manufacturing is also contributing for the contract manufacturing segment. Medical device manufacturers concentrate on manufacturing high-quality and safe devices for patient care. The increasing layers of standards and regulations combined with high level of inspection in developing medical devices has created the demand for manufacturing devices.
Application Analysis Preview
The availability of competent outsourcing firms who are capable of manufacturing the medical devices for surgery and their compliance with the regulatory requirements has boosted the demand for this segment. Also, there have been introduction of various invasive and non-invasive procedures which has increased the number of surgeries performed every year. Due to this, there has been rising demand for the innovative and procedure-specific devices.
Device Type Analysis Preview
The high prevalence of cardiovascular conditions is boosting the demand for the increased outsourcing of the cardiovascular devices. There is also great need for the technical expertise in the cardiovascular devices, which has led to the increasing outsourcing of these kind of devices. Also, the associated complexity of cardiovascular devices has increased its overall outsourcing.
The increasing diabetic population and the rising awareness of diabetes treatment are major drivers for this segment. Also, there have been favorable national healthcare strategies which have been promoting the use of such devices. The growing technological innovations and connected diabetes care devices are also the factors responsible to boost the demand of Medical devices for diabetes segment.
Regional Analysis Preview
North America held a share of 37% in 2020. This is due to the factors such as well-established manufacturing hubs for complex medical devices and technologically developed electronic sector. There are also many medical device companies present in this region which are outsourcing part of their regulatory functions to regulatory service providers, thus increasing the overall demand of the market.
Asia-Pacific is expected to have the CAGR of 17.3% from 2021 to 2028 and is the leading region for the Medical Device Outsourced Manufacturing market. The demand is due to the easy availability of skilled human resources. Also, there are many key companies present in this region also the competitive pricing factor is contributing to high demand of this market in this region. The increasing number of chronic diseases is also fueling the overall demand in this region. The increasing inclination towards homecare and the growing expenditure towards healthcare infrastructure are the also factors contributing the growth in this region.
Key Market Players & Competitive Landscape
Some of the key players in the Medical Device Outsourced Manufacturing market include Iqvia, Toxikon, Inc., SGS SA, Eurofins Scientific SE, Pace Analytical Services, WuXi AppTec, Inc., Intertek Group plc, North American Science Associates, Paraxel International Corp, Charled River Laboratories International Inc., Jabil Circuit Inc., Plexus Corp, Sanmina Corporation, Nortech Systems, TE Connectivity, Celestica Inc., Flexitronics International Ltd, Onex Corporation, West Pharmaceutical Services, Inc. and Cardinal Health Inc among others.
In 2021, ARCH Global Precision acquired LISI Medical Jeropa Inc., a leading manufacturer of high-precision medical implants, devices and instruments used for various reasons such as dental, orthopedic and cardiovascular markets. The acquisition has increased core features and competencies of ARCH Global Precision and also provide a strategic location for the manufacturing demands across United States.
The Global Medical Device Outsourced Manufacturing Market is segmented as follows:
By Service
By Application
By Device Type
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Service
FIG NO. 2. Market Attractiveness Analysis, By Application
FIG NO. 3. Market Attractiveness Analysis, By Device Type
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Medical Device Outsourced Manufacturing Market Revenue, 2016 – 2028 (USD Million)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Service, 2020 & 2028
FIG NO. 8. Global Medical Device Outsourced Manufacturing Market for Contract Manufacturing, Revenue (USD Million) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Medical Device Outsourced Manufacturing Market for Contract Manufacturing, By Country, 2020 & 2028
FIG NO. 10. Global Medical Device Outsourced Manufacturing Market for Quality Assurance, Revenue (USD Million) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Medical Device Outsourced Manufacturing Market for Quality Assurance, By Country, 2020 & 2028
FIG NO. 12. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 13. Global Medical Device Outsourced Manufacturing Market for Plastic Surgery, Revenue (USD Million) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Medical Device Outsourced Manufacturing Market for Plastic Surgery, By Country, 2020 & 2028
FIG NO. 15. Global Medical Device Outsourced Manufacturing Market for Cardiology, Revenue (USD Million) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Medical Device Outsourced Manufacturing Market for Cardiology, By Country, 2020 & 2028
FIG NO. 17. Market Revenue Share, By Device Type, 2020 & 2028
FIG NO. 18. Global Medical Device Outsourced Manufacturing Market for Diabetes, Revenue (USD Million) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Medical Device Outsourced Manufacturing Market for Diabetes, By Country, 2020 & 2028
FIG NO. 20. Global Medical Device Outsourced Manufacturing Market for Cardiovascular, Revenue (USD Million) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Medical Device Outsourced Manufacturing Market for Cardiovascular, By Country, 2020 & 2028
FIG NO. 22. Global Medical Device Outsourced Manufacturing Market for Endoscopy, Revenue (USD Million) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Medical Device Outsourced Manufacturing Market for Endoscopy, By Country, 2020 & 2028
FIG NO. 24. Global Medical Device Outsourced Manufacturing Market for Dental, Revenue (USD Million) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Medical Device Outsourced Manufacturing Market for Dental, By Country, 2020 & 2028
FIG NO. 26. Global Medical Device Outsourced Manufacturing Market Revenue Share, By Region, 2020 & 2028
FIG NO. 27. North America Medical Device Outsourced Manufacturing Market Revenue, 2016 - 2028 (USD Million)
FIG NO. 28. Porter’s Five Forces Analysis for Global Medical Device Outsourced Manufacturing Market
FIG NO. 29. PEST Analysis for Global Medical Device Outsourced Manufacturing Market
FIG NO. 30. Pricing Analysis for Global Medical Device Outsourced Manufacturing Market
FIG NO. 31. Value Chain Analysis for Global Medical Device Outsourced Manufacturing Market
FIG NO. 32. Company Share Analysis, 2019
FIG NO. 33. Radar Determinant Chart, 2019
FIG NO. 34. Company Strategic Developments – Heat Map Analysis
FIG NO. 35. Iqvia Business Segment Revenue Share, 2020 (%)
FIG NO. 36. Iqvia Geographical Segment Revenue Share, 2020 (%)
FIG NO. 37. Market Channels
FIG NO. 38. Marketing Channel Development Trend
FIG NO. 39. Growth in World Gross Product, 2008-2018
FIG NO. 40. Research Methodology – Detailed View
FIG NO. 41. Research Methodology
List of Tables
TABLE NO. 1. Global Medical Device Outsourced Manufacturing Market: Snapshot
TABLE NO. 2. Quarterly Medical Device Outsourced Manufacturing Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Medical Device Outsourced Manufacturing Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Million)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Million)
TABLE NO. 6. Global Medical Device Outsourced Manufacturing Market for Contract Manufacturing, by Region, 2016 – 2028 (USD Million)
TABLE NO. 7. Global Medical Device Outsourced Manufacturing Market for Quality Assurance, by Region, 2016 – 2028 (USD Million)
TABLE NO. 8. Global Medical Device Outsourced Manufacturing Market for Plastic Surgery, by Region, 2016 – 2028 (USD Million)
TABLE NO. 9. Global Medical Device Outsourced Manufacturing Market for Cardiology, by Region, 2016 – 2028 (USD Million)
TABLE NO. 10. Global Medical Device Outsourced Manufacturing Market for Diabetes, by Region, 2016 – 2028 (USD Million)
TABLE NO. 11. Global Medical Device Outsourced Manufacturing Market for Cardiovascular, by Region, 2016 – 2028 (USD Million)
TABLE NO. 12. Global Medical Device Outsourced Manufacturing Market for Endoscopy, by Region, 2016 – 2028 (USD Million)
TABLE NO. 13. Global Medical Device Outsourced Manufacturing Market for Dental, by Region, 2016 – 2028 (USD Million)
TABLE NO. 14. Global Medical Device Outsourced Manufacturing Market Revenue, By Region, 2016 – 2028 (USD Million)
TABLE NO. 15. North America Medical Device Outsourced Manufacturing Market Revenue, By Country, 2016 – 2028 (USD Million)
TABLE NO. 16. North America Medical Device Outsourced Manufacturing Market Revenue, By Service, 2016 – 2028 (USD Million)
TABLE NO. 17. North America Medical Device Outsourced Manufacturing Market Revenue, By Application, 2016 – 2028 (USD Million)
TABLE NO. 18. North America Medical Device Outsourced Manufacturing Market Revenue, By Device Type, 2016 – 2028 (USD Million)
TABLE NO. 19. U.S. Medical Device Outsourced Manufacturing Market Revenue, By Service, 2016 – 2028 (USD Million)
TABLE NO. 20. U.S. Medical Device Outsourced Manufacturing Market Revenue, By Application, 2016 – 2028 (USD Million)
TABLE NO. 21. U.S. Medical Device Outsourced Manufacturing Market Revenue, By Device Type, 2016 – 2028 (USD Million)
TABLE NO. 22. Canada Medical Device Outsourced Manufacturing Market Revenue, By Service, 2016 – 2028 (USD Million)
TABLE NO. 23. Canada Medical Device Outsourced Manufacturing Market Revenue, By Application, 2016 – 2028 (USD Million)
TABLE NO. 24. Canada Medical Device Outsourced Manufacturing Market Revenue, By Device Type, 2016 – 2028 (USD Million)
TABLE NO. 25. Mexico Medical Device Outsourced Manufacturing Market Revenue, By Service, 2016 – 2028 (USD Million)
TABLE NO. 26. Mexico Medical Device Outsourced Manufacturing Market Revenue, By Application, 2016 – 2028 (USD Million)
TABLE NO. 27. Mexico Medical Device Outsourced Manufacturing Market Revenue, By Device Type, 2016 – 2028 (USD Million)
TABLE NO. 28. Drivers for the Medical Device Outsourced Manufacturing Market: Impact Analysis
TABLE NO. 29. Restraints for the Medical Device Outsourced Manufacturing Market: Impact Analysis
TABLE NO. 30. Major Buyers of Medical Device Outsourced Manufacturing
TABLE NO. 31. Distributors/Traders List of Medical Device Outsourced Manufacturing
TABLE NO. 32. Global Medical Device Outsourced Manufacturing Market, Company Market Revenue, 2016 – 2019 (USD Million)
TABLE NO. 33. Global Medical Device Outsourced Manufacturing Market, Company Y-o-Y Growth, 2017 – 2019 (USD Million)
Request the coronavirus impact analysis across industries and markets
Asia-Pacific is expected to have the CAGR of 17.3% from 2021 to 2028. The demand is due to the easy availability of skilled human resources. Also, there are many key companies present in this region also the competitive pricing factor is contributing to high demand of this market in this region. The increasing number of chronic diseases is also fueling the overall demand in this region. The increasing inclination towards homecare and the growing expenditure towards healthcare infrastructure are the also factors contributing the growth in this region.
Some of the key players in the Medical Device Outsourced Manufacturing market include Iqvia, Toxikon, Inc., SGS SA, Eurofins Scientific SE, Pace Analytical Services, WuXi AppTec, Inc., Intertek Group plc, North American Science Associates, Paraxel International Corp, Charled River Laboratories International Inc., Jabil Circuit Inc., Plexus Corp, Sanmina Corporation, Nortech Systems, TE Connectivity, Celestica Inc., Flexitronics International Ltd, Onex Corporation, West Pharmaceutical Services, Inc. and Cardinal Health Inc among others.
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