Press release
Medical Device Outsourcing Market To Cross US$ 199.6 Billion by 2028
Medical Device Outsourcing Market
Medical Device Outsourcing Market Demand and Growth:
The global market is primarily driven by the increasing demand for medical devices. In line with this, the growing complexity of devices is significantly contributing to the market growth. Furthermore, the rising need for cost-effective manufacturing is positively influencing the market. Apart from this, the emerging trend of telemedicine and home healthcare and the escalating healthcare expenditure is catalyzing the market.
Moreover, the increasing price competition and the requirement to reduce costs are propelling the market. Besides, the rising difficulties in product engineering and the growing number of new entrants are strengthening the market. Additionally, the escalating need to make devices patient-friendly is expected to offer numerous opportunities for the market.
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Competitive Landscape with Key Players:
• Celestica Inc. (Onex Corporation)
• Charles River Laboratories International Inc
• Flex Ltd., Freyr Inc
• Heraeus Holding GmbH
• ICON plc
• Integer Holdings Corporation
• IQVIA Inc
• Plexus Corp
• Sanmina Corporation
• TE Connectivity
• West Pharmaceutical Services Inc
Medical Device Outsourcing Trends:
Medical device outsourcing refers to contracting a third-party company to handle various medical device development and manufacturing aspects. This includes design, engineering, prototyping, testing, regulatory compliance, and production. It provides significant benefits to medical device companies, including access to specialized expertise, reduced costs, increased efficiency, and faster time to market. It enables companies to focus on their core competencies and strategic priorities while leaving other aspects of the business to capable partners.
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Key Market Segmentation:
Breakup by Service:
• Regulatory Consulting
• Product Design and Development
• Product Testing and Sterilization
• Product Implementation
• Product Upgrade
• Product Maintenance
Breakup by Therapeutics:
• Cardiology
• Diagnostic Imaging
• Orthopedic
• IVD
• Ophthalmic
• General and Plastic Surgery
• Drug Delivery
• Dental
• Endoscopy
• Diabetes Care
Breakup by Application:
• Class I
• Class II
• Class III
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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