Surge In Chronic Diseases Drives Growth Of The Medical Device Outsourcing Market Driver: A Major Catalyst in the Evolution of the Medical Device Outsourcing Market in 2025

What industry-specific factors are fueling the growth of the medical device outsourcing market?
The increase in chronic diseases, which are illnesses that persist for at least a year and necessitate continuous medical intervention or impede day-to-day functions, is predicted to fuel the expansion of the medical device outsourcing market. The escalation in chronic illnesses amplifies the need for high-quality, innovative medical products in a shorter time span, thereby catalyzing the medical devices outsourcing market's development. For instance, the UN Chronicle, a United Nations digital publication, anticipates that by 2030, chronic diseases will account for roughly 56% of the global disease burden. Consequently, the prevalence of chronic diseases is expected to stimulate the advancement of the medical device outsourcing market.

Get Your Medical Device Outsourcing Market Report Here:
https://www.thebusinessresearchcompany.com/report/medical-device-outsourcing-global-market-report

What Is the projected market size and growth rate for the medical device outsourcing market?
The growth of the medical device outsourcing market size has been swift in recent years. The market, which currently stands at $144.86 billion in 2024, is set to increase to $163.1 billion in 2025, marked by a compound annual growth rate (CAGR) of 12.6%. The expansion during the historical phase can be credited to escalating intricacy in medical devices, economical production solutions, concentration on core competencies, market globalization, along with a surge in contract research and development (R&D).

The market size for medical device outsourcing is projected to experience a significant increase in the coming years, with an expected worth of $290.76 billion in 2029 and a compound annual growth rate (CAGR) of 15.6%. The expected growth during the forecasted period can be credited to factors including focus on primary skills, the need for a shorter time-to-market, cost-effective production, the necessity for scalability and adaptability, and the increasing complexity of medical devices. Key trends to look out for over the forecasted period are an enhanced focus on customization and personalization, attention towards risk reduction and compliance, a rising demand for remote monitoring devices, a growing emphasis on data security, and innovations in wearable medical devices.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=6033&type=smp

What new trends are reshaping the medical device outsourcing market and its opportunities?
Strategic alliances and joint ventures have become a significant trend in the medical device outsourcing market, with leading firms in the sector focusing on these strategies. For example, in July 2023, U.S. based contract manufacturing firm, Medical Device Inc., acquired NextPhase Medical Devices LLC, with the details of the agreement remaining private. The purchase caused the group to double in size, placing it among the highest echelons of global medical device contract manufacturers, generating 70% of its revenue in the United States. The United Group boasts seven well-funded end-to-end production sites in North America, Europe, and North Africa, with diverse manufacturing abilities and significant exposure to international markets. It's worth noting that NextPhase Medical Devices LLC is a medical device manufacturing company based in Mexico.

What major market segments define the scope and growth of the medical device outsourcing market?
The medical device outsourcing market covered in this report 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

Subsegments:
1) By Finished Goods: Surgical Instruments, Diagnostic Devices, Therapeutic Devices
2) By Electronics: Medical Imaging Components, Wearable Health Technology, Embedded Systems
3) By Raw Materials: Plastics and Polymers, Metals and Alloys, Biomaterials

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=6033

Which region dominates the medical device outsourcing market?
North America was the largest region in the medical device outsourcing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical device outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the medical device outsourcing industry growth?
Major companies operating in the medical device outsourcing market include Cardinal Health Inc., Flex Ltd., Te Connectivity Ltd., Sanmina Corporation, Celestica Inc., WuXi AppTec Inc., Phillips-Medisize LLC, Intertek Group plc, Plexus Corp, Nipro Medical Corporation, Teleflex Incorporated, Integer Holdings Corporation, Cantel Medical Corp, Sterigenics International LLC, Nortech Systems Incorporated, Toxikon Inc., North American Science Associates Inc, Omnica Corp, NAMSA, Tecomet Inc., Viant Medical

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=6033&type=smp

What Is Covered In The Medical Device Outsourcing Global Market Report?

•Market Size Forecast: Examine the medical device outsourcing market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the medical device outsourcing market for a structured understanding.
•Key Players Overview: Analyze major players in the medical device outsourcing market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the medical device outsourcing market.
•Segment Contributions: Evaluate how different segments drive overall growth in the medical device outsourcing market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the medical device outsourcing market.
•Industry Challenges: Identify potential risks and obstacles affecting the medical device outsourcing market.
•Competitive Landscape: Review strategic developments in the medical device outsourcing market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.