Medical Device Contract Manufacturing Market 2020 Global Industry Extensive Competitive Landscape on Size, Volume, Trends, Share and Revenue| Regional Forecast By 2024

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Key Players: Flex Ltd. Singapore, Jabil Inc. US, TE Connectivity, Ltd. Switzerland, Integer Holdings Corporation US, Sanmina Corporation US, West Pharmaceutical Services, Inc. US,Nipro Corporation Japan, Celestica Inc. Canada, Plexus Corporation US, Consort Medical PLC UK, Benchmark Electronics, Inc. US, Gerresheimer AG Germany, Nortech Systems, Inc. US, Kimball Electronics Inc. US, and Teleflex Incorporated US.

The medical device contract manufacturing market is expected to reach USD 91.3 billion by 2024 from an estimated USD 55.0 billion in 2019, at a CAGR of 10.6%.The key factors driving the growth of the medical device contract manufacturing market include the overall growth of the medical devices market as a whole, mainly due to rising disease prevalence, life expectancy, and the geriatric population. Technological advancements have prompted end users to overhaul or update their manufacturing systems. As this is a costly process, they look to contract manufacturing.

The Asia Pacific to witness the highest growth during the forecast period: The Asia Pacific is expected to witness the highest growth during the forecast period 2019 to 2024. The high demand for diagnostic imaging, patient monitoring, and in vitro diagnostic IVD devices is expected to drive the medical device market in the Asia Pacific. The low labor cost in Asia Pacific countries is another factor driving the medical device contract manufacturing services market. Labor costs in China are significantly lower than the US;the cost of labor in China is around USD 264 per month for an individual as compared to approximately USD 8,000 in the US Source: China Labor Bulletin. This is a major factor attracting medical device companies from across the world to expand their contract manufacturing operations in China.

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 product portfolio matrix of the various contract device manufacturing products available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report: The report will enrich 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 of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

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In the end, the Global Medical Device Contract Manufacturing Market report's conclusion part notes the estimation of the industry veterans.

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