Medical Device Outsourced Manufacturing Market

GMI Research analysis indicates that the Medical Device Outsourced Manufacturing Market is slated to register a high CAGR of 10.5% over the forecast period till 2030.

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Major Medical Device Outsourced Manufacturing Market Drivers

The factors driving the global Medical Device Contract Manufacturing market size include the growing demand for medical devices as a whole and the rising technology penetration in medical devices around the world. For instance, as per the UAE government, the country has approximately 4,500 new cancer cases every year, and around 21.2 percent of the UAE’s population is affected with diabetes in the year 2019. Thus, the increasing number of diseases around the world is surging the demand for different types of medical devices. There has been an increase in the investment and M&A in the MedTech contract manufacturing, which is further responsible for the market growth. Between 2014 and the first half of 2020, the medical devices CDMOs have been executed in around 84 M&A deals. The private equity companies are increasingly focusing on contract manufacturing. In addition to this, the increasing preference for non-invasive surgical procedures instrument manufacturing is further surging the market growth. There has been a significant increase in the aging population across the globe. According to the World Health Organization, the geriatric population is anticipated to touch 1.5 billion by the end of 2050, which is around 16% of the total world’s population. Thus, this is contributing to the growth of the medical device contract manufacturing market share.

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Device Type – Segment Analysis

Based on the device type, the IVD Devices is expected to grow at a higher CAGR during the forecast period. The rising number of hospitals in developing countries and the increasing IVD test volume are the two major factors that are contributing to the market growth. In addition to this, the high prevalence of chronic diseases is further increasing the demand for IVD devices. According to the WHO estimates, the increasing chronic diseases is a major global challenge and accounts for 60% of the all facilities.

Service – Segment Analysis

Based on the service, the device development and manufacturing services segment is projected to witness a faster CAGR during the forecast period. This is mainly due to the rising adoption of contract manufacturing services in the medical sector and the significant growth in the single-use disposable medical devices market.

Class of Device – Segment Analysis

Based on the class of device, the class II segment is anticipated to grow at a higher CAGR during the forecast period. A large number of medical devices and the high utilization of the high volume of these devices by the end-users are the key drivers that are boosting the market growth.

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Regional – Segment Analysis:

Based on the region, North America region is expected to dominate the market during the forecast period. The United States is the domicile of 7 of the top world’s 10 largest manufacturers of the original equipment for medical devices. The growing demand for medical device contract manufacturing is a major factor that is contributing to the regional market growth. In addition to this, the growing adoption of technologically advanced products is further driving the market growth.

Top Market Players

Various notable players operating in the market include FLEX LTD., Jabil Inc., TE Connectivity, Sanmina Corporation, NIPRO, Celestica Inc., Plexus Corp., Benchmark, Integer Holdings Corporation, and West Pharmaceutical Services, Inc., among others.

Segments covered in the Report:

The global Medical Device Contract Manufacturing market has been segmented on the basis of Device Type, Services, Class of Device, and regions. Based on Device Type, the market is segmented into IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Drug Delivery Devices, Orthopedic devices, Opthalmology Devices, Diabetes Care Devices, Dental Devices, Endoscopy Devices, and others. Based on Services, the market is segmented into Device Development and Manufacturing Services and Quality Management Services. Based on Class of Device, the market is segmented into Class I Medical Devices, Class II Medical Devices, and Class III Medical Devices. 

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Market Segmentation

Global Medical Device Contract Manufacturing Market by Device Type

• • IVD Devices
  • Diagnostic Imaging Devices
  • Cardiovascular Devices
  • Drug Delivery Devices
  • Orthopedic devices
  • Opthalmology Devices
  • Diabetes Care Devices
  • Dental Devices
  • Endoscopy Devices
  • Others

Global Medical Device Contract Manufacturing Market by Services

• • Device Development and Manufacturing Services
  • Quality Management Services

Global Medical Device Contract Manufacturing Market by Class of Device

• • Class I Medical Devices
  • Class II Medical Devices
  • Class III Medical Devices

Global Medical Device Contract Manufacturing Market by Region

• • North America Medical Device Contract Manufacturing Market (Option 1: As a part of the free 25% customization)

    • By Device Type
    • By Services
    • By Class of Device
    • US Market All-Up
    • Canada Market All-Up

  • Europe Medical Device Contract Manufacturing Market (Option 2: As a part of the free 25% customization)

    • By Device Type
    • By Services
    • By Class of Device
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Medical Device Contract Manufacturing Market (Option 3: As a part of the free 25% customization)

    • By Device Type
    • By Services
    • By Class of Device
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Medical Device Contract Manufacturing Market (Option 4: As a part of the free 25% customization)

    • By Device Type
    • By Services
    • By Class of Device
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Medical Device Contract Manufacturing (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • FLEX LTD.
  • Jabil Inc.
  • TE Connectivity
  • Sanmina Corporation
  • NIPRO
  • Celestica Inc.
  • Plexus Corp.
  • Benchmark
  • Integer Holdings Corporation
  • West Pharmaceutical Services, Inc.