Medical Device Outsourcing Market, Consumption, Production, Imports, Exports, Company Analysis 2023-2032

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 Outsourcing Global Market Report 2023 identifies prevalence of chronic diseases as the major driver for the Medical Device Outsourcing market's growth in the forecast period. Chronic diseases are the conditions that last 1 year or more and require ongoing medical attention or limit activities of daily living or both. The rising chronic diseases increase the demand for new quality medical products in less launch time thereby driving the growth of the medical devices outsourcing market. For instance, according to the UN Chronicle, a digital magazine of the United Nations, the global burden of chronic diseases is expected to reach about 56% by 2030. Therefore, the prevalence of chronic diseases will drive the growth of the medical device outsourcing market.

The global medical device outsourcing market size grew from $114.95 billion in 2022 to $129.4 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. 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 outsourcing market size is expected to grow to $204.25 billion in 2027 at a CAGR of 12.1%.

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Major competitors in the Medical Device Outsourcing market are Flex Ltd., Integer Holdings Corporation, Plexus Corp., Toxikon Inc., Eurofins Scientific SE, Pace Analytical Services Inc., WuXi AppTec Inc., North American Science Associates Inc., Charles River Laboratories International Inc., Creganna, IQVIA, Mitutoyo Corporation, Cardinal Health Inc., Onex Corporation.

A key trend in the Medical Device Outsourcing market includes Strategic partnerships and collaborations. Major companies operating in the market are focusing on partnerships and collaborations to lead the market. For instance, in December 2021, Labcorp, a US-based laboratory testing company acquired Toxikon Corporation for an undisclosed amount. This acquisition would extend Labcorp's portfolio of full-service drug development and medical device solutions from discovery to market approval. Toxikon Corporation is a US-based contract manufacturing company that provides outsourcing services for medical devices. Furthermore, in February 2020, Integer Holdings, a US-based advanced medical device outsourcing company acquired Inomec for an undisclosed amount. This acquisition of Inomec will allow Integer to establish a research and development and sales center in Israel, in addition to optimizing its catheter design, clinical, and pilot manufacturing capabilities. Income is an Israel-based medical device outsourcing company.

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The Medical Device Outsourcing market is segmented -
1) By Product: Finished Goods, Electronics, Raw Materials
2) By Device Type: Class I Devices, Class II Devices, Class III Devices
3) By Services: Quality Assurance, Regulatory Affair Services, Product Design Development, Product Testing And Sterilization, Product Implementation, Product Upgrade, Product Maintenance, Contract Manufacturing
4) By Application: Drug Delivery, Dental, Diabetes Care, Cardiology, 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 Outsourcing market.

The Business Research Company's "Global Medical Device Outsourcing 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 Outsourcing Market Include:
1. Executive Summary
2. Medical Device Outsourcing Market Characteristics
3. Medical Device Outsourcing Market Trends And Strategies
4. Medical Device Outsourcing Market - Macro Economic Scenario
5. Medical Device Outsourcing Market Size And Growth
……
27. Medical Device Outsourcing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Medical Device Outsourcing Market
29. Medical Device Outsourcing Market Future Outlook and Potential Analysis
30. Appendix

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