Medical Device Contract Manufacturing Global Market Analysis By Trends, Technological Advancement, Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Medical Device Contract Manufacturing Global Market Report 2023 identifies rising prevalence of chronic disorders as the major driver for the Medical Device Contract Manufacturing market's growth in the forecast period. Chronic diseases refer to conditions that require ongoing medical attention or limit activities. Smart medical devices help patients monitor their health conditions and better manage their chronic diseases. As a result, there is an increase in demand for medical device contract manufacturing. For instance, in 2020, according to the World Health Organization, a Switzerland-based government agency, chronic disease prevalence grew by 57% in the year 2020. Therefore, the rising prevalence of chronic disorders is driving the medical device contract manufacturing market.

The global medical device contract manufacturing market size grew from $76.83 billion in 2022 to $87.04 billion in 2023 at a compound annual growth rate (CAGR) of 13.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical device contract manufacturing market size is expected to grow to $141.27 billion in 2027 at a CAGR of 12.9%.

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Major competitors in the Medical Device Contract Manufacturing market are Benchmark Electronics Inc., Celestica International Lp., Consort Medical PLC, Flex Ltd., Gerresheimer AG.

A key trend in the Medical Device Contract Manufacturing market includes Technological innovations. Major companies operating in the medical device contract manufacturing market are focused on developing new technological solutions to strengthen their position. For instance, in December 2020, Forefront Medical Technology Pte Ltd., a Singapore-based company and medical device contract manufacturer, launched EzySwaba, a uniquely designed nasopharyngeal COVID-19 test swab. The EzySwab was developed to support the need for COVID-19 test swabs in the forefront of medical research in Singapore. This consists of the flexibility of biocompatible nylon for simple nasopharyngeal insertion and a safe breakpoint feature for rapid transfer to a sample collection tube.

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The Medical Device Contract Manufacturing market is segmented -
1) By Device: IVD Devices, Diagnostic Imaging Devices, Cardiovascular Devices, Drug Delivery Devices, Endoscopy Devices, Ophthalmology Devices, Orthopedic Devices, Dental Devices, Other Devices
2) By Service: Device Development and Manufacturing Service, Quality Management Service, Assembly Service
3) By Application: Laparoscopy, Pulmonary, Urology, Gynecology, Other Applications

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Medical Device Contract Manufacturing market.

The Business Research Company's "Global Medical Device Contract Manufacturing Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Medical Device Contract Manufacturing Market Include:
1. Executive Summary
2. Medical Device Contract Manufacturing Market Characteristics
3. Medical Device Contract Manufacturing Market Trends And Strategies
4. Medical Device Contract Manufacturing Market - Macro Economic Scenario
5. Medical Device Contract Manufacturing Market Size And Growth
……
27. Medical Device Contract Manufacturing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Medical Device Contract Manufacturing Market
29. Medical Device Contract Manufacturing Market Future Outlook and Potential Analysis
30. Appendix

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