Medical Device Contract Manufacturing Market Research Report 2024-2033 | Size, Growth, Demand, and Trends

"The new report published by The Business Research Company, titled ""Medical Device Contract Manufacturing Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the medical device contract manufacturing market size has grown rapidly in recent years. It will grow from $88.36 billion in 2023 to $101.04 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The medical device contract manufacturing market size is expected to see rapid growth in the next few years. It will grow to $174.69 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%.

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Rising Prevalence Of Chronic Disorders Fuels Growth In The Medical Device Contract Manufacturing Market
The rising prevalence of chronic disorders is expected to propel the growth of the medical device contract manufacturing market going forward. 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 January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, there would be 142.66 million people with chronic diseases worldwide by the year 2050, up from 71.522 million in 2020. Therefore, the rising prevalence of chronic disorders is driving the growth of the medical device contract manufacturing market.

Strategic Collaborations Drive Advancements In Medical Device Contract Manufacturing
Major companies within the medical device contract manufacturing market are forming strategic partnerships with other firms to enhance their product development initiatives. For instance, in June 2022, Amnovis, a Belgium-based additive manufacturing company and BAAT Medical, a Netherlands-based orthopedic medical devices company collaborated to develop 3D printed medical devices. Their partnership covered the entire process, from design to legal manufacturing, expediting the time to market for these devices while enhancing patient outcomes. This collaboration aimed to set new standards for specific medical device types by focusing on material research, post-processing methods, process automation, and validation. The joint effort provided a comprehensive and ISO 13485:2016 certified process for scalable manufacturing of 3D printed medical devices, streamlining the development and validation processes for medical device OEMs.

The medical device contract manufacturing market covered in this report 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

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Major companies operating in the medical device contract manufacturing market include Benchmark Electronics Inc., Celestica International LP, Consort Medical plc, Flex Ltd., Gerresheimer AG, Integer Holdings Corporation, Kimball Electronics Inc., Nemera Development S.A., Nipro Corporation, Nortech Systems Inc., Phillips-Medisize Corporation, Plexus Corporation, Sanmina Corporation, Biofortuna Limited, Catalent Inc., Forefront Medical Technologies Pte Ltd., Invetech, SteriPack Group Ltd., Abbott Laboratories, Becton Dickinson and Company, Cardinal Health Inc., Danaher Corporation, GE HealthCare Technologies Inc., Hologic Inc., Intuitive Surgical Inc., Johnson & Johnson, Medtronic plc, Siemens Healthineers AG, Stryker Corporation, 3M Company, Boston Scientific Corporation, Edwards Lifesciences Corporation, Fresenius Medical Care AG & Co. KGaA, Hill-Rom Holdings Inc., Masimo Corporation, ResMed Inc., Smith & Nephew plc, Teleflex Incorporated, Terumo Corporation, Zimmer Biomet Holdings Inc., Alcon Inc., Baxter International Inc., The Cooper Companies Inc., Dentsply Sirona Inc., Getinge AB, Olympus Corporation, Varian Medical Systems Inc.

Contents of the report:
1. Executive Summary
2. Medical Device Contract Manufacturing Market Report Structure
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 Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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